<p>Hi...What kind of consulting fields are there and also what's a good major to get into it?</p>
<p>Finance
Business Econ.
Management Science
Accounting
Marketing</p>
<p>Out of these 5 majors.</p>
<p>All of the majors can get you involved in consulting.</p>
<p>Accounting for Big 4 accounting firms.
Finance/ Bus. econ. for corporate finance.
Management for management consulting.
Marketing for marketing firms.</p>
<p>Also, a lot of consulting firms have industry specific groups and IT solutions.</p>
<p>From what I've heard, finance/accounting is the best of the business majors for consulting while engineering is the best in general. Of course there's no wrong way. If you do some practice cases, you will realize that a lot of business problems have to do with a variety of business disciplines, from marketing efforts to cost accounting. It's very broad. Some schools offer strategy or strategic management, which might be useful, but I think overall the more quantitative, the better.</p>
<p>are you talking consulting for MBB or just consulting in general?</p>
<p>I have heard it said that firms like Renaissance technologies actually hire scientists with PhDs in astrophysics or physics, math etc with no finance knowledge. That is, they believe that the superb analytical and abstract thinking these PhDs represent is far better training for business/finance than undergrad specializations. Same true for McKinsey. Can someone comment?</p>
<p>Rentec is almost in a class of its own as a hedge fund that truly emphasizes quantitative thinking. Most analysts probably have a computer science background or something similar. Usually, however, it is NOT necessary and is more likely to be overkill. Remember that they don't get a Ph.D BECAUSE it may lead to great business opportunities. That's the worst reason to get one. Most get it because they originally wanted to go into academia with a love for the subject but made a transition into business.</p>
<p>Yes, I gathered that almost all went into academia initially for love of subject and perhaps not getting a good tenure posiition they opted for consulting as a second choice almost. Just wanted to know if that kind of training conferred an advantage. I had read somewhere that study of quantum phenomena equips one well for Wall St since it is good training in unpredictability ,etc.</p>
<p>Could you perhaps comment which is more intellectually rigorous, physics or math?</p>
<p>redhare 317, the partial diff equation that has to do with the value of stock option is but a variant of heat diffusion equation in thermodynamics. Increasingly, physics has applications to finance: clue: random walk of Poincare and Brownian motion etc etc. So, I respectfully suggest it is not overkill.</p>
<p>Uh, right...</p>
<p>Well it looks like you answered your own question.</p>
<p>redhare, I was thinking out aloud. Would love your input. My S is at Columbia and wants to enter finance and is undecided whether to go for undergrad financial engr or applied physics/applied math with finance minor. any thoughts?</p>
<p>If he is already at Columbia, honestly it doesn't matter what he studies as long as he does well. Either option would be good, and he should do what whichever he likes better without necessarily having a target career in mind yet. If he wants to do finance, I suppose it makes more sense to go into financial engineering. Columbia is one of the few schools that have undergrad financial engineering. The only thing about that is I think you have to already be in SEAS, whereas for math/physics you have to be in the College. Does he have to make a transfer?</p>
<p>Quantitative skills are important, but remember that it's the skills themselves that are important and not the body of knowledge acquired from studying physics or whatever the subject may be. It doesn't even matter how applicable a subject is. He should be fine no matter which one he chooses. Just make sure he does the one he can stick with because he might even change his mind about going into finance.</p>
<p>redhare, beautifully put, you are a great sounding board. He is in SEAS. Wanted to study aerospace engr from childhood, I guess child's fascination with model aircraft, entered columbia to do mech engr then maybe aero; after Gateway Lab and intro econ, finds engr tedious and aeronautical a dicey career.</p>
<p>I have generally told him to avoid preprof education, even told him when he was interested in aero to avoid engr undergrad but do basic math. Would like him to get the 21st cent version of a classical liberal arts educ. He got plenty at HS, I made sure he took 5 years of Latin and 6 of French etc.</p>
<p>He finds physics almost effortless, has an intuition for the subject. Personally I would like for him to avoid financial engr altogether, money never made for fulfilment, did it? He will become what Napoleon said of the Brits, a nation of shopkeepers. Thanks a bunch.</p>