<p>People on these boards are starting to make me think that the only place you can go with a business degree is IB. Why is this field so popular? Aren't there other areas out there that pay well as well? Would it be smart to major or concentrate in marketing or MIS? (at a top 25ish business undergrad business school)?</p>
<p>The only reason I-banking is popular is because 90% of the high schoolers/freshman are fascinated by how much money they make. I don’t think that they realize that it’s hard enough to get in, but once you’re in, only the best and the people who actually love it keep moving on, while the rest burn out or are “encouraged” to leave. Although, I guess I shouldn’t talk since I’m only a sophomore in college, but that’s the general impression I get.</p>
<p>As far as other majors. Marketing might be OK if you couple it with something else. For example, marketing + econ or marketing + stat will be good for market research, and econ gives you an idea of how demand shifts, etc. Marketing + science/engineering is good for the big tech companies.</p>
<p>MIS is supposed to be watered-down CS, but there have been quite a few people who did MIS/ISOM that have had good careers, so I think again if you want to make yourself competitive, take a few more programming/math classes to show you have quant+business ability. </p>
<p>If you want a field that will guarantee decent money, but has the potential to make a lot (not millions, but 200k+), do accounting. You can become CFO, controller, or partner which can be quite lucrative, plus the field is constantly expanding. Actuary is another solid choice, although you should be quite mathematically inclined if you want to follow that field.</p>
<p>Does accounting matter what school you went to? (if you want to be at the very top)</p>
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<p>I’d guess that to some extent, your school could matter, and that unless you go to an incredible school like Wharton, Haas, etc. that you would be more limited geographically (at least initially) in terms of where you can be placed, but it’s not like investment banking where you’re SOL if you don’t have connections or don’t go to HYPSW. I go to a very, very average state school in a relatively small state, and ALL of the Big 4, large multinationals, and other small shops recruit from there. Plus, I hear that if you do well, you can ask to be transferred after a few years to another city, so as long as your school is accredited, it shouldn’t be a huge deal provided you are good. Check the “Everything You Wanted To Know About Accounting” page for more info about this stuff.</p>
<p>There is almost nothing else that pays as well across the board. A typical marketing or MIS job? Not even close. The interest seen here is mostly money driven.</p>
<p>Think about what it is you really enjoy doing and what kind of salary you’ll be happy with in choosing where to focus.</p>
<p>In all reality, most from a ‘top 25 business school’ will never be ibankers.</p>
<p>When someone tells me he wants to do Ibanking, I usually ask him what Ibanking is as a test. If you can explain it thoroughly and find the day to day life of Ibankers even the LEAST bit interesting, you’re good to go… you just have to get through college and know some people.</p>
<p>D just got an offer at a BB, not Ibanking division because she said it didn’t interest her. She is still front office at a bank and, w/ ability if she is any good, can make big bucks. </p>
<p>But, there are many things to do w/ a business degree. I would strongly recommend MIS vs marketing. My d jokes about the kids (she says usually female) that major in marketing. </p>
<p>Take as many quantitative classes as possible. It can only help you.</p>
<p>Assuming that Wharton is the #1 undergrad business school, what percentage of Wharton grads in any particular year are able to land an IBanking job?</p>
<p>(I’m asking because I don’t want to set my expectations too high, even though I think I have a shot at Wharton… maybe UT might be a better choice if I’m going to end up in accounting rather than ibanking)</p>
<p>If you get in Wharton…just go. Doesn’t matter if you want to go in to investment banking or accounting…the Wharton degree will give you an edge in most business fields.
Unless you are in-state for UT-Austin and can save a bundle of money by attending an in-state school…than its up to you and your parents. Both are great schools.</p>
<p>^Agree, if you can afford it. Almost no one from Wharton ends up in accounting. You’ll see all the possibilities there.</p>
<p>hmom5, I honestly don’t want to go into ibanking, and I heard that finance is more stressful and less stable than accounting… right?</p>
<p>Investment management/financial planning/advising are not as stressful. It’s about the same as accounting as far as stress goes.</p>
<p>Accounting is only stable for you if you work hard at it. Otherwise you will get reviewed negatively and laid off/fired.</p>
<p>I like how creamthagetmoney mentions this “but has the potential to make a lot (not millions, but 200k+), do accounting. You can become CFO, controller, or partner which can be quite lucrative…” like it’s the easiest thing to do with an accounting degree.</p>
<p>But yeah go with accounting…with the growing number of students going into accounting, wages are definitely going to DROP.</p>
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<p>I don’t see anything wrong with what I said. I said you can potentially make a lot of money if you work hard. If you aren’t good at any job, you won’t make a lot of money. I don’t care if you’re an investment banker, management consultant, doctor, etc. In the end, it’s up to the person whether or not he or she is competant and motivated enough to become a partner or what not. </p>
<p>Btw, investment management, etc. can be just as stressful as accounting (probably not banking), plus if you don’t have good sales skills, which is a large component of those jobs, you will not be successful at that as well.</p>
<p>Student01, if you want to go into accounting just for the job security/stability, go with the IRS. You’ll also get great benefits, good work/life balance and possibly lots of career growth…can’t beat that.</p>
<p>In someone else’s words…
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