<p>Hey guys, I have a huge situation... I'm a junior in HS, and I have given up on IB. I'm not selling my soul just to evenually receive a pink slip, or possibly jump out my office building. I would feel too sorry for the people on WS that would have to step on the mess. </p>
<p>Back to the point, I'm an average student at a private school, 3.4 GPA, sports, etc so I'm not a genius like most of the people in IB. I am looking for another route... I am looking for a job that will "eventually" pay $250k+ in ten years of working exp. Or possibly job that will pay 100k+ in 4-5 years. </p>
<p>Also, I can get into Kelley, but I want get any scholorships, making it almost impossible to go... So therefore, I'm pretty much forced to go to the University of Tennessee, which is decent; I guess. Say in finance, do people only care about what ugrad university you went to, or just your M.B.A. school. I can't fork out 100k on IU, so I can go to UTK for basically free. I live in TN... in state</p>
<p>UT has supply chain management/logistics program that is ranked #2 in the nation, only behind Sloan. How much can you make in this field. Otherwise, everything else, "finance related," is average. I would study finance at Tennessee, but do the banks care about undergrad? I can probably get an M.B.A from a top ten school after UTK.</p>
<p>First of all, you do not have to be a genius to make money (or to even get into I-Banking). Quantitative ability can certainly help in some areas (technical stock picking/ stock analysis), but you do not need to be a genius for finance. To get to your main question,very few fields provide guarantees to make six figures. It (a large salary) is something you get by earning it (having ideas especially). If you constantly have ideas on how a company can do better then it is possible your pay could increase exponentially in a very short time. However, no one can say with a guarantee that you would make that amount of money in X time (with very few exceptions).</p>
<p>You got QUITE a bit of time. Time changes your priorities. Who knows that when you get out of college, you'll still be seeking the same thing. Take it moment by moment.</p>
<p>(sigh), I will talk to you as I would speak to my son.</p>
<p>As a tax lawyer, I get to meet a number of successful folks. Lets face it, homeless people don't generally seek the advice of a tax lawyer. </p>
<p>I can honestly say that folks who are succesful and happy, generally enjoy what they do and, consequently, are good at it. I can't tell you how many lawyers, who make a lot of money, are very, very unhappy with their professions.</p>
<p>My advice: pick a profession that you enjoy. If you enjoy the work, you won't mind studying it, and will probably become very good at it. Top people in most professions can make a lot of money and are generallly happy "campers." They also have the added benefit of living longer due to having less stress about what they do.</p>
<p>If I go to the University of Tennessee for undergrad, will it affect my chances of landing a job in finance? I will get an M.B.A from a top ten school in finanance; I can guarantee you that... Basically, how much does undergrad matter?</p>
<p>I'd be interested in this as well, specifically the OP's question and the other available jobs.</p>
<p>Also, what if you can't find anything you're particularaly passionate about, and can only find things that you wouldn't mind doing day in and day out.</p>
<p>Undergrad does matter in regards to a finance career UNLESS you have a guaranteed connection (a family friend whose a managing director or principal at a firm). In the likelihood that you do not, it is very tough to get interviews not coming from a top school. </p>
<p>UVA, Duke, UNC are the type of schools (in that order) you want to be at to be most exposed to formal campus recruiting. </p>
<p>I went to a state school for a finance degree and found it very tough getting IB interviews - I only got one offer. If you go to a state school, I wouldn't fall below a 3.8 GPA. I'm doing a master's degree at a high ranked school, and it's been much easier.</p>
<p>Never underestimate the halo effect from pedigree - in the finance world, whether we like it or not, people will always initially judge you on what school you went to (this has more relevance when you are really young and just starting your career).</p>
<p>In regards to attending a top 10 B-school, don't plan on attending until 10 years from now (it'll be tough for you to get in until then). If you're willing to wait till then, go for it.</p>
<p>You could also consider getting a degree in accounting, where it doesn't really matter where you get your degree from, as long as the school's business program is AACSB accredited and gets recruited by the big four and similar companies.</p>
<p>You could work in advisory, etc., at one of the big four accounting firms, or even do things in finance - like work in corporate finance or commercial banking (yes, all with an accounting degree). Many commercial banks, for example, really recruit accounting grads heavily. </p>
<p>I think a lot of people incorrectly assume that with an accounting degree your stuck being a staff accountant/auditor your whole life - this is definitely untrue.</p>
<p>The people here are right; a finance major from a state school that really doesn't have that great of a finance program might not be the best option. A lot of kids get finance degrees. With accounting, you'll still be able to do everything you would be able to with a finance degree, and it won't matter where you went to school, and you'll also be exposed to a lot of things recruiters are after (accounting is actually a pretty tough major within the business realm).</p>
<p>Ask taxguy to elaborate on this for me - he could explain it a little bit better than I could.</p>
<p>But - you wouldn't be as limited as you would with a finance degree from a non-Wharton type school. </p>
<p>Obviously, if you were going to Wharton, a finance degree is going to open up TONS of doors - but it's not really the same if you get it from your local state school, albeit, there are some schools like the UVA which have really great business programs.</p>
<p>granted_business said it as well as I could have. Unless you attend a school such as Wharton, an accounting degree will open MANY more doors than a finance degree. In fact, many of the jobs that you would think would be opened by a finance degree actually are more available to accountants. I would bet that more CEOs majored in accounting than finance. Now if you want to major in accounting and minor in finance, that might not be a bad way to go.</p>
<p>
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I went to a state school for a finance degree and found it very tough getting IB interviews - I only got one offer. If you go to a state school, I wouldn't fall below a 3.8 GPA. I'm doing a master's degree at a high ranked school, and it's been much easier.
[/quote]
</p>
<p>The OP specifically mentioned that he didn't want to go IB. Although, his assertion that the people in IB are geniuses was way off.</p>
<p>it's funny how people who work in IB are considered "genius'", some for sure are genius' but I guess it just depends on your perception of what a genius is.</p>
<p>Once you start working, you'll realize most people are idiots - in some shape or form. So don't believe IB people are geniuses.</p>
<p>In regards to jobs other than IB, there are too many to list. Management consulting, business development, etc. can all be potentially high paying jobs. I suggest trying to get a good conceptual understanding of what certain jobs entail and see if that interests you. Intern at many places while you are in school to do your recon.</p>
<p>Most people working for major commercial real estate firms make over that amount if they stay with it. Initial pay is low though and lots of on the job training. Also income can vary greatly year to year but if you are good you will never be out of work or downsized, etc.</p>
<p>Here are some ideas. Its actually not extremely difficult to make 250k if you give it your all!</p>
<p>1) Accounting: Partner Level (Not even necessarily Big 4)
2) Consulting: Manager/Partner Level (Need not be MBB)
2) Asset Management: Get a lot of clients
3) Operations for a BB: Even Ops MD's get 400k!
4) Corporate Finance/Industry Work: C level
6) Prime Brokerage @ a BB</p>
<p>A lot of BB jobs will eventually pay 250k, even if they aren't in IB. You can get a lot of jobs with more reasdonable hours, but remember that you will still have to work hard!</p>
<p>I would venture to say that you can get into commercial/corporate banking through your school's career services office.</p>
<p>Check out the UofTennessee's career services website. Schools will often list recruiting events, etc. and list the companies that are planning to attend.</p>
<p>I know many national banks have recruiting programs - you can submit a resume through their website, and they also come to recruit on campus at different schools. </p>
<p>I think like taxguy mentioned, accounting might open up more doors than you would think, and may open up more doors than a finance degree.</p>
<p>You could get an entry level job at a bank pretty easily and work your way up while you're in school (if you worked p/t and/or seasonal), and then when you graduate get promoted to assistant branch manager and/or branch manager, or switch over to other divisions within that bank.</p>
<p>I think you are smart, though, by choosing to attend a school where you'll incur little to no debt - IU-Kelley is a good school for finance, but I personally don't think it's worth the out-of-state tuition you'd have to pay.</p>