<p>Do they value an undergraduate degree in something technical such as engineering, to provide for a strong quantitative background, and then an MBA maybe later on?</p>
<p>Or do they value an undergraduate degree in something such as Economics and maybe a minor in something technical and an MBA in addition to this later on?</p>
<p>Which one is the BEST and MOST REWARDING option for a college student to choose if he/she wants to go into i-banking or hedge funds?</p>
<p>While I don't have any insight to offer, I'd also like to know the answer to this question. </p>
<p>I'm going to Penn CAS next year and, right now, I think I'd like to have a career in finance. Basically, I want to know how to make up for the fact I'm not going to Wharton by choosing the best courses/majors/minors to help me be competitive with Wharton undergrads.</p>
<p>I'm starting at CAS this fall. I plan on majoring in econ...depending on how well I do, and how tough I find the overall courseload, I'll try to double major in finance at wharton..but I've hear you have to have a mad high GPA (somewhere along the lines of 3.7, so who knows if I'm gonna be able at all)</p>
<p>I would love to know the answer to this......</p>
<p>Funny thing, I have been asking myself this question for the past 3 months, magnetschool. Where do you plan on applying or have you already gotten into college?</p>
<p>Why is magnetschool posting this question here? Most of us are in high school and the rest are college students. I don't see many recruiters who can answer the question well.</p>
<p>I thought maybe with the wide range of knowledge people from Wharton or Penn in general may have about the recruiting process, someone might be able to give me some insight on what recruiters value more now a days...that is engineering undergrad or econ undergrad</p>
<p>go to ibankingoasis for those types of questions. the only people who post on the penn forum are high school students (and a few current students who enjoy hijaking threads lol). at the very least, try the business forum.</p>
<p>what i can tell you is that you will have the most "REWARDING" experience if you study what you like. if you're a math/science person, go for engineering. if you are interested in econ do that. with engineering/hard science you will have a lower GPA, but employers will take that into consideration (to a certain extent).</p>
<p>Venkat, you seem like a guy who's actually cool to hang out with. Can't wait to meet you.</p>
<p>As for the topic: iBanks like trolls who work hard for them. Hedge funds like extremely smart quants. There's no simple answer to the question.</p>
<p>so are you saying I need to take engineering?</p>
<p>I don't understand quite what I should do. Let me just tell you this much, my entire high school curriculum was based around some sort of science or some sort of math or engineering-ish subjects (AP calc, physics, chem, stat...etc. etc.) I have good scores on all of them, but quite frankly, Im tired of engineering-ish stuff as it stands right now as high school senior almost done with high school. I think i might want to try something different so as to start on a pair of "fresh legs". Im really just trying to maximize my GPA by trying something different that I think might captivate my interest. BUT I want to ensure that 5 years from now I get a super-high paying job at a hedge fund or something like that. That's why I'm asking you, how should I plan my education?</p>
<p>I think my options at the current time are something like this:
B.A. in economics from a place like Rutgers U. in Newark</p>
<p>or</p>
<p>B.S. in something like engineering froma place like Rutgers U. In Newark</p>
<p>I'm not sure if I want to double major, because that might take 5 years and it might be a little too burdensome on my educational experience. I don't want to end up working like a hog for 4 more years.</p>
<p>
[quote]
BUT I want to ensure that 5 years from now I get a super-high paying job at a hedge fund or something like that. That's why I'm asking you, how should I plan my education?
[/quote]
That is impossible unless your dad already has a job lined up for you. Some Wharton/Ross/Sloan/Harvard grads are homeless and unemployed because they have no personalities and can't get past the interviews. At the same time, my Sloan MBA for an uncle is working under someone who went to a local New York college (Long Island U?) at an investment bank. There are no guarantees in life.</p>
<p>If you wish to guarantee yourself a job after college, become social and do engineering. You will get a good job out of college. My friend's cousin went to Rutgers and did Computer Engineering, and she says that he earns a great salary.</p>
<p>haha that's really what I kinda didnt want to hear as much. as i mentioned above, I am tired of engineering and would like to try out something else.</p>
<p>does this mean that an econ degree from rutgers will not earn me as a high a salary starting off as i would get with an engineering degree?</p>
<p>in that case, i'd probably do engineering --> get a highish GPA --> get some good work experience in a technical profession (i think thats where most rutgers engineers end up). if you are social/have people-skills and are a leader, you may move up to management in your engineering firm. then you can shoot for an MBA program.</p>
<p>i think your odds of getting into a hedge fund, or even a bulge bracket are low from rutgers (not 100% impossible though, if you are a great interviewer and have amazing GPA/recommendations/experience) even five years out. engineering for a few years can help you get the work experience, and possible technical leadership experience, to get into a good MBA program. from there, an investment banking position is possible.</p>
<p>what really worries me though is that you said:</p>
<p>
[quote]
BUT I want to ensure that 5 years from now I get a super-high paying job at a hedge fund or something like that.
[/quote]
</p>
<p>magnet, please READ THIS UPCOMING PASSAGE AT LEAST THREE TIMES. ALL of your posts on this forum in the last few days essentially ask the same question: "what should i do in my life, both in college and beyond, that will maximize my success?" the thing is, nearly EVERYBODY on this forum has been telling you the same thing, but you still appear to keep asking. here's your answer. it's not so simple, but take the time to read it over several times:</p>
<p>i remember from the last thread that you seem to be kinda streamlined in your goals. while this can be a great thing (it could provide you with the motivation to succeed), you could also set yourself up for a big disappointment if you don't reach that very high goal. now i'm not saying you have absolutely no potential to get to where you want to go, but wanting to get a "super-high paying job at a hedge fund or something like that" leads one to question what you really want in life. Are you deeply interested in the science of hedging against market risk, or are you only interested in "hedge funds or something like that" for the money? believe me, if you do anything for the money alone you won't make it; you have to passionate about it (and just saying your passionate about it doesn't really mean anything). working your way up from a low quant position in a hf to become a manager is very very difficult (forget about the challenge of even landing that low quant position to begin with). to have a goal like that as a high school kid is, to put it bluntly, foolish. you'll have to wait a number of years before you can even decide if that career path is feasible, and more importantly, something you want to do. the mere fact that you said that you want to start on a pair of "fresh legs" shows that even today you don't know where you are going in life. For example, your full load of science/math APs means that at the beginning of high school you were probably anticipating a career in engineering or science (which shows how much your perspectives will change in another four years). but believe me that's ok! in fact, it's perfectly health to NOT know what the future has to hold. just don't set outlandish and incredibly focused goals for yourself without recognizing what is doable. take the next four years to explore different opportunities. since you already have an interest in engineering/science, i'd stay just stick with that. what's the point of changing it up now if you were doing so well (and had such a keen interest, based on your course selection) in whatever you were doing before? i think the reason you keep asking the question "What should I do" is because you're looking for a definitive answer. instead of asking a bunch of high school students who post here to guide you, why don't you ask yourself what YOU want in your life? yes, the engineering--->work experience--> MBA combo may be your best chance for eventually landing a banking position. But there are tons of more opportunities out there for people interested in math/science. yes, i understand that you may have the desire to go out in the world and make as much money as possible. but like venkat said, there are no guarantee of success in life; there are only ways to minimize your risk of failing. just do something you're passionate about. If banking is really meant for you you'll find yourself there eventually. </p>
<p>i REALLY hope you take the time to read all that to yourself at least three times. you continually ask a variation of the SAME question on this forum. in fairness to everybody here, you need to sit down and take a long hard look life, an what you really want to do with it. asking us wont help, because frankly we don't even know the real you (your motivations, your achievements, your hopes and whatnot). the answer will never be clear-cut, but you need to start somewhere.</p>
<p>And Abhi takes the lead for having the most time on his hands AND trying the most to actually help magnetschool</p>
<p>i believe in the kid</p>
<p>it also helps break up studying for APs. whats YOUR excuse for not being out on a saturday nite?</p>
<p>House arrest. I've been spending too many nights out late and it's a dangerous world out there. According to my parents anyway.</p>
<p>I posted this on another thread, but I will post again here because it answers the question. I had the chance to speak to a close family friend recently who started his own fund and has earned a personal net worth in the top 1% of the country. He went to a top ivy league school 25 years ago and then worked for two years for a top investment banking firm and then got an MBA from one of the best business schools in the country. I asked him about what it is like today in the work force and whether or not an MBA is prefered over an undergraduate business degree, and how one graduating from Wharton undergraduate is viewed versus one graduating from a top tier school with a major in economics.
He told me the situation is different than it was years ago. He told me that today and MBA is really only preferred in certain areas of finance like investment banking and commercial banking. He did tell me that while an
MBA is not as important now in certain finance fields as it was years ago, that there really is no difference between an applicant for a job coming out of Wharton undergraduate versus an applicant coming out of lets say Princeton, Duke, Harvard, Penn arts and sciences who majoried in economics or finance. It is not even true that coming out of Wharton undergraduate results in more job opportunities. The reruiters come to all the schools and the top investment banks ect are filled with those out of all the top tier schools, not just undergraduate business schools like Wharton.
I know those who go to Wharton undergrad will say otherwise, but an undergraduate degree from Wharton is no different than an undergraduate degree at an ivy league school or other top tier school where the applicant was an economics or finance major</p>