I want to major in either finance or economics.
Which do you think is better? Which will be more beneficial in the job application process if I’d like to work for a big bank in the future?
I am considering grad school but not 100% sure yet.
Pros and cons to each. NYU obviously has the location and finance internships readily available, as well as a large network. I’d say it’s definitely more cut throat (given the size of school & everyone’s career aspirations), and you should really only apply if you’re dead set on IB.
Amherst is considered a more prestigious school in general, and a fair number of grads each year go into finance (something like 25-30%). More rural location, but I’ve heard that it and Williams place well into NY for IB, given that they’re well known on the east coast, have small, but tight, alumni networks and aren’t as competitive as somewhere like Stern. If you’d like to explore any options outside of banking, I’d apply to Amherst.
NYU Stern > Amherst if you want to go into finance. There is just no comparison. NYU is right there in the city, and a helluva lot of their alums go to bulge bracket banks. I stayed at NYU over the summer, and trust me, those kids have good connections! Sure, Amherst gives you a better education, blah blah blah. But, speaking as a current Amherst student interested in finance, NYU Stern is a better bet. (Not to say that coming to Amherst will handicap you getting into a bulge bracket, it’s just not as direct).
Let’s put it this way, this is such an apples to oranges comparison that it is almost ludicrous. People who (usually) choose to attend an Amherst do so because of the “blah blah blah” whether it be the small classes, the level of intellectual curiosity among fellow students or the well-manicured campus setting. I’m guessing (largely because I went to a similar college) that pre-professional training is not that far down on the list, but not the driving force that it might be at a place like NYU. It’s pretty much presumed that, if you do well in a subjects like math or economics, you can leverage them into any number of careers, including IB.
I think you’ll find that for most professional schools, including law and medicine, it doesn’t really matter what you major in and most MBAs won’t even look at you until you’ve had a few years of work experience under your belt.
Going Stern may be an easier-to-get-into route. Amherst is full of one of everything including athletes and geodiversity. It won’t be easy getting into Amherst, but if you do, you’ll be studying liberal arts before finance, that’s for sure.
Some docs you may want to look over
https://www.amherst.edu/system/files/media/FY17%20Career%20Center%20First%20Destination_FINAL_3%202%2017.pdf (Class of 2016 outcomes - Google #1 employer, interesting)
More detail including on business/finance programs and tech - https://www.amherst.edu/system/files/media/LoebCenter_AnnualReport_2015-16.pdf