Investment Banking for humanities majors

<p>Is there anything I should be doing or considering if I am a History major who is interested in ibanking? Any advice would be much appreciated.</p>

<p>I'm assuming you go to Wake Forest. Unfortunately, WF is a non-target so it'd be in your best interest to major in something related to finance and network as aggressively as possible. I have come across a few WF alums on the Street. The short answer is that it will be a uphill battle trying to break into banking as a history major.</p>

<p>I'm already a third year History major, and yes I do go to Wake.</p>

<p>If you answer these questions I may be able to help some more: Why investment banking? which finance/accounting classes have you already taken? what is your past work experience?</p>

<p>Well, the difficult part for you then is to convince investment banks to hire you over a finance major at Wharton with boutique IB experience or a Harvard econ major who works at a long/short hedge fund in his summers. Unless you have previous experience, it will be very difficult to land interviews through the traditional on-campus recruiting process. You will have to be a bit more creative in networking for interviews.</p>

<p>You have to understand: as pathetic as it is, some people spend their entire lives building themselves for investment banking. I have friends who watched CNBC instead of cartoons and read the FT instead of comics when they were in middle school. It's sad, undoubtedly, but banking is a tough, tough field to break into and they are the ones who are procuring the interviews in a tight market.</p>

<p>Take as many high level math and econ classes as you can handle.</p>

<p>Calculus is all you really need, although linear programming concepts helps.</p>

<p>Finance and accounting.</p>

<p>agreed... unless you're going for a quant position, they really could care less what math you've taken.</p>

<p>I don't have much experience in taking finance classes. I did take a finance curriculum in high school, but in college I only took statistics and economics. My past work experience including working as a researcher in two museums, as well as a variety of jobs in food service, retail, etc. </p>

<p>Maybe I am confusing myself over specific terms, is there a difference between investment banking and investment managing? That might help me clear the air a little bit.</p>

<p>I've hired many humanities majors for three decades for a major ibank. A history major with just calc would not make it to round one interviews.</p>

<p>Yes, there's a difference, which are you interested in? Some firms might take you on for investment management, but with the background you give, you wouldn't have much of a shot at getting an investment banking job without graduate work.</p>

<p>I (wrongly) thought that the terms were interchanagable (I guess I'm kind of ignorant on this topic), but I am more interested in investment management. I'm sorry I didn't specifify, I guess I really have no idea what an ibanker does then...</p>

<p>Investment management is far easier to break into. There is a huge range of jobs from the guys who work at your local Schwab office to private wealth managers at top ibanks. It's much easier to get a job because you're very much on your own and won't make money unless you have a network to bring in clients. So if you're confident in doing that, it should be no problem finding a firm to give you a cubical and a phone.</p>

<p>I'm curious as to why you go into finance anyway. You obviously are ill-prepared and know very little about the field. Why the interest?</p>

<p>Originally I was going to go to Wake Forest for accounting, I did the National Academy of Finance in high school and took college accounting and entreprenurship classes, economics, finance, and just general business classes. I obviously took a different route and wanted to continue to study colonial american history (primarily concerned with ideas of religion, southern nationalism, etc--I am currently writing my thesis on the social role/impact of William H. Thomas' legion of Cherokee Confederates during the War of Rebellion) but I digress. I am a very indecisive person, and finance/investment is an interest of mine, so I just decided to apply. I know that these reasons are not the greatest, and I realize that I need to narrow down my interests (I currently am applying to different Sports Marketing firms, with some Major League Baseball Clubs--for management/operations, and am working on applications for graduate work in Sports Managment and Colonial American History). I realize I am all over the board, but I know that I will succeed at whatever I do, so its just a matter of finding what I will do. I have gone to career conselors, taken the Strong Interest Inventory test (and low and behold my top two careers were university professor and investment manager).</p>

<p>I apologize for coming off a bit harsh in my previous post, but it seems like you have a good head on your shoulders. Again, I encourage you to reach out to WF alumni -- they would be more than happy to help.</p>

<p>PS:
I consider myself very personable and networking is something I feel I am very good at. Furthermore the skill set I have to offer is research, writing, reading critically, developing arguments, rational thinking, interpersonal skills etc. I'm just looking for an outlet to utilize these skills and investment management looks like a possibility.</p>

<p>
[quote]
I apologize for coming off a bit harsh in my previous post, but it seems like you have a good head on your shoulders. Again, I encourage you to reach out to WF alumni -- they would be more than happy to help.

[/quote]

No worries, I was hoping for critical/harsh response really, that is the only way you learn--not by folks coddling you. I will do that, I have written letters to WF alumni in the Sports Management field, and I'm sure there are Wake alumni in the Charlotte area (I don't like the northeast very much and would much prefer Charlotte to NYC)</p>

<p>Investment Banking - Help companies raise money. Buy and sell companies. Stuff like that.</p>

<p>Investment management - Work for a mutual fund company. Start in research. Help research investment opportunities. write investment reports for the managers. After a while, you might get to assist in the management of a fund.</p>

<p>Investment Advisor - help people manage their money. A glorified sales position (sell the services of the firm to potential clients).</p>