<p>Just wondering what you guys think. So far from the classes I have had I've decided to major in finance, but with the market being down and a lot of jobs being lost is that a bad idea?</p>
<p>The stock market != the economy, but economies tend to be very cyclical. Major in finance if that's what you want to do.</p>
<p>It will be back in three years.</p>
<p>Some portions may never come back the way they were before, but that doesn't mean you should avoid finance as a whole. There will still be opportunities. And if its what you want to do, stick with it.</p>
<p>As others have said, the economy is cyclical. By the time you graduate it should be back to normal (or if there is a real recession, a possible boom). Make your decision based off of what you want to do.</p>
<p>The business model for investment banks is over as we know it. The names will still exist but they will no longer reap the profits that they have over the last 5-6 years because they will not be able to leverage themselves 30:1 like they have been. </p>
<p>To anyone who is blind enough to not believe that we are headed for a MAJOR RECESSION/DEPRESSION, good luck because you will need it!</p>
<p>Finance will continue to be very profitable and is a great field, so if you enjoy it you will be rewarded handsomely but it won't be nearly as easy as it has been over the last 5-6 years. Many people will get weeded out and only the smartest and hardest working will survive.</p>
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To anyone who is blind enough to not believe that we are headed for a MAJOR RECESSION/DEPRESSION, good luck because you will need it!
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<p>I guess your message applies to most of wall street because the stock market has not indicated anything as big as you insinuate.</p>
<p>This is simply cyclical. The economy went down in 1991, it went down in 2001, and it is going down now. It will bounce back. As for IB, it will also bounce back. There are way too many opportunities to make money (especially internationally).</p>
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Many people will get weeded out and only the smartest and hardest working will survive.
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<p>Really? If it's as bad as you say, the brightest will by and large leave finance to a more profitable discipline.</p>
<p>Do you think it'll bounce back by the time this incoming class graduates?</p>
<p>Econ major= job ad FED, where u get job no matter which situation we are in! lol</p>
<p>Thanks for all the help. I've been telling others it will eventually go back up considering the cyclical nature of the economy, but after hearing some things I got a little worried. I am currently setting up something with a family friend about shadowing them at Merrill Lynch, and maybe eventually an internship. I'll see if finance is right for me then.</p>
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Do you think it'll bounce back by the time this incoming class graduates?
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<p>Definitely.</p>
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but after hearing some things I got a little worried.
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<p>If people with a finance background can't make money, then businesses aren't making money. If businesses aren't making money, nobody is.</p>