Economics Degree vs. Undergraduate Business

<p>Find out from the career center what Ibanks came to campus to interview for summer internships. The best way to get an investment banking job is to get an investment banking internship.</p>

<p>I'm still trying to figure out why anyone would aspire to being an investment banker?! :eek:</p>

<p>(I know, I know...to each his own.)</p>

<p>Motheroftwo, my son's career spookily (Halloween today) mirrors your son's. He also put his SAT, his GPA at the very top of his resume, for his first and second job.</p>

<p>I don't know if this is the right path for you, but I'm remembering my cousin who began to major in Math (at Harvard) but was discouraged he hadn't made a great discovery by age 19 so changed his major to Econ. He has a powerful, powerful mind.</p>

<p>When he graduated with his Econ major (maybe he minored in math..idk) he went to Law School (Harvard) and then to a high prestige firm in NYC where his legal specialization became bankruptcy and tax law. The law firm chose him because he was such a creative problem solver (Math rearing its head again). His work consists of finding original pathways for corporations to solve various financial problems through bankruptcy proceedings.</p>

<p>If you major in Econ, it might position you better for Law School than a Business major. I THINK but I don't know; that's something to ask someone who does know. Corporate Law might be as interesting as i-banking, some would say.</p>

<p>YOu also asked where the i-bankers recruit. Mythmom mentioned Williams, I'll add on Amherst...wouldn't you figure they make the rounds of those top USNWR LAC's? They read the same lists you do. A family friend went right from Univ of Chicago to i-banking in NYC. I don't think this one takes a lot of imagination; just get a great undergraduate education but keep an eye towards the prestige/elite list factor, too if you hope to see recruiters on your campus in the future. Isn't it just logical? I really don't know, I'm just "thinking" so if I'm misadvising, please JUMP IN and correct my ideas. I'm not very attached to them.</p>

<p>The offices of the most successful hedge fund in the world is less than three miles from my house. The original company was founded by math professors from SUNY Stony Brook. They look for mathemeticians when hiring.</p>

<p>As paying3tuitions has said, Williams and Amherst are heavily recruited from. Williams has an exceptional math department. I think I see a connection; that and the historical preppiness of the place. Sorry, but I do think traditions, old networks, all these things do still prevail. I don't think it's a conspiracy, just human nature.</p>

<p>My S is at Williams. He has no interest in banking, economics, or all of the like. Would probably rather be a lumberjack. Although he was quite adept at calculus, he's also looking forward to never having to take a math course in college, so that's not why he went to Williams. It is why some kids go.</p>

<p>for investment banking acturial science is the best course</p>

<p>weenie - As you said, to each their own. Personally, I never had the least bit of interest in learning about investments or careers related to finance and investing, but have learned a little bit since my son went into that field. He started out as a computer science major and excelled in the coursework but never had the "passion" for it that many people do. He was not exposed to economics until the second half of his sophomore year and was fascinated by it as soon as he took his first course. It was a really hard decision for him to switch majors, as he always takes important decisions very seriously. Although this field is very lucrative, I truly don't think that was my son's motivation for pursuing it. He sought a career that is interesting to him and tells me that his new job is great because he is learning a tremendous amount, as much as he can absorb. I guess that is the best we can hope for for any of our kids!</p>

<p>MotherofTwo: LOL. My son is an economics/political science major. I wanted an architect or an environmental science type guy. Hehehe. :)</p>

<p>I just hope kids follow their passions, whatever they are. Or I hope they have passions. I don't know.</p>

<p>Haha Weenie. I am a science person and my husband is an engineer, and we have one kid in finance and one studying Chinese/Asian Studies/Studio Art. At least we know our kids didn't choose their majors based on copying their parents :)</p>

<p>weenie -</p>

<p>thats ok, you could have ended up with someone like me who did both econ and environmental science. And the Economics looks to pay better now that I'm applying for jobs... too bad I want to do environmental professionally now.</p>

<p>Economics is seen as a solid degree for a lot of starting fields. It usually indicates good reasoning skills and comprehension of math and logic. At UVa i-Banks are pulling from both the Econ dept. and Undergrad Business School pretty heavily; though I would say (just from watching peers in my department and friends in McIntire Business) that Goldman, Morgan, Booz Allen, etc tend to pull a higher percentage from McIntire. Not sure if that is representative of all schools. A number of my friends in Econ have had offers with the i-Banks, but more are getting hired by places like corporate Suntrust and Cap1 (With very nice signing bonuses as well...)</p>

<p>My S was always extremely good in math in middle school -- one of those kids who never studied, never asked for help, etc. But then in H.S. he lost interest and became much more English oriented, loving all the discourse and analysis of literature and reasoning out his ideas and presenting them. He went through honors calculus, getting A's; he took H and AP physics, getting A's. But he'd tell his dad (a Ph.D. in mechanical engineering) how much those classes bored him silly. We have to laugh now. He's an economics major (going for a B.A. and an accelerated Master's as he had a great deal of AP credit in science and social sciences, etc which the university counted toward his GEP's). He emailed me last week and asked me to work up how things would work out with a math minor since has has to take 3 calc classes and diffy q anyway. His ultimate goal is a law degree, but I have been amazed (initially knowing nothing about economics) about how many opportunities are opened to him with this degree. We love that in case he decides law is not for him. And, he's thoroughly enjoying the B.A. component of the degree, which requires a minor and allows him to pursue a lot of political science electives, as well. </p>

<p>zebes</p>

<p>My friend's son double majored in Physics and Economics, and his job has something to do with trading credits for carbon dioxide emissions. I am not too sure of the details, but I know he is using his knowledge of both science and economics. There are all kinds of interesting careers out there that most people are unaware of unless they know someone working in that field.</p>

<p>LOL @ Blossom in post #11. And I'm quite glad to see HBCU Virginia State University get some props. That's the second VSU alumnus I've heard about that's done quite well in the field of public finance.</p>