Would I be able to do this?
-Bachelors in Finance
-Bachelors in Economics
-Minor in Statistics or Accounting
Money doesn’t matter but would it be difficult to do that I eventually want to get a Masters in Finance.
I either want to be a portfolio manager, a real estate broker, a financial advisor, chief risk officer or any other high paying financial careers
Anything is ‘doable’, the question is why would you do it? You won’t get any farther with two Bachelors- in any of those fields- than you will with one, and either major will be fine for getting you started (and you don’t need either for real estate). You don’t have to have a Masters in Finance to get to the top of any of those fields, either. If you look up the backgrounds of people at the top of any of them you will see that they get there in a lot of ways. An accounting or stats minor won’t make much of a difference either, though an accounting qualification (CPA) will be useful for getting a lot of bank-based financial roles.
To become a Certified Financial Planner (a frequent qualification for people who do financial advising / wealth management, etc) it doesn’t matter what major you have done. You might be able to get credit for
and [url=http://www.cfp.net/become-a-cfp-professional/find-an-education-program]these[/url] colleges/majors are registered programs that qualify towards the CFP. The whole process (work experience, other required tests) is listed [url=http://www.cfp.net/become-a-cfp-professional/cfp-certification-requirements]here[/url].
To become a Chartered Financial Analyst (a frequent qualification for people who do portfolio management) any finance /accountancy major will do, but you have to take a series of courses and tests, plus have 4 years work experience. The senior analysts that I know did undergrad business, then MBAs or similar, got jobs at investment firms and their company paid for the CFA courses, but that’s just one route.
From your posts, it seems as if your only interest is getting to money, but the personalities that go with these jobs are rather different. Real estate and portfolio management call on really different temperaments, and you are more likely to be successful if you are working to your strengths. Financial advising is somewhere in the middle between the two.
But, since you haven’t even taken a college level finance, econ or accounting course yet, the bigger thing is to get into college, start taking some of the finance and econ classes and then decide which major, and what direction you want to start out in. Work experience through summer jobs and internships will do a lot more for you than 2 undergrad degrees.
Thanks you’ve helped out a lot! Do you know if real estate careers would still be a good choice and still have high employment in around 10 years?
Haha, if anyone knew the answer to that they’d be the richest person on the planet, because it would mean they can predict the future!
If you’d asked people in 2001 if they thought the housing market would crash in the late 2000s, they’d probably laugh at you - people though the real estate market was going to go up and up. The first economists didn’t even start writing about the possibility in earnest until the mid-2000s. Similarly, few people would’ve predicted the crash of the law market or the fall of the finance sector - or that Lehman Brothers, one of the largest and most prosperous financial services firms in the nation, would close down. When I started college in 2004, law and finance/Wall Street were two of the most lucrative and desirable careers for young college-educated folks. Law especially was seen as a ticket to the upper-middle-class. On the other hand, computer science? Was seen as largely a field for eggheads and nerds. Most people knew about Bill Gates, but the idea of technology magnates as superrich wasn’t a huge part of the consciousness for young college-aged people.
My point is that…no one knows what the hot fields are going to be in 10 years. There are some general rules - technology will probably remain important to us because it always has been; people are always going to need somewhere to live - but knowing which jobs and which careers in the sector will still be lucrative in 10 years? It may even be something you’ve never heard of or that doesn’t exist now: there was no such thing as a social media manager in 2005. Now Glassdoor estimates they average around $51,000.
We can try to make projections, which is what we do. The Bureau for Labor Services estimates that growth for real estate brokers and agents will be about as fast as the average - 11% - from now until 2020. On the one hand, they say, people increasingly use brokers and agents when buying homes. On the other hand, the housing market is very heavily determined by the economy, and there’s been a lot of hand-wringing lately about whether our generation (millennials) are going to buy as much stuff as our parents and grandparents did. (Signs point to no.) Many other occupations within the real estate field have the same projections. It also kind of depends on what kind of real estate you get into. Flipping houses is not going to be as lucrative as it used to be. But become a real estate broker or lawyer for super-rich clients - particularly foreign nationals who are investing in U.S. property in large cities - and you might make a lot there.
So…it depends.
Thanks juillet!