Those with a degree in finance

[SZLiao214]

Currently i am majoring in accounting and have not enjoyed any of it. I was thinking that perhaps i could try finance instead as most of the classes i have already taken would be used.

My question to you is when did you get your finance degree and what did you end up doing with it?

Pay is generally a personal question but if you feel comfortable i would like to know how you made out with it.

 

[JS80]

Majoring in Accounting opens up Accounting and Finance jobs. Majoring in Finance only leaves you with Finance jobs.

 

[Whisper]

I didn't major in finance myself, but have a friend who did (I believe). He currently works as a financial analyst. Beyond that, no idea what you could do with the degree.

 

[spidey07]

Originally posted by: JS80
Majoring in Accounting opens up Accounting and Finance jobs. Majoring in Finance only leaves you with Finance jobs.

QFT

 

[SZLiao214]

Anyone else?

 

[iversonyin]

Originally posted by: JS80
Majoring in Accounting opens up Accounting and Finance jobs. Majoring in Finance only leaves you with Finance jobs.

Not true at all.

I found finance classes more interesting. I never liked accounting. And trust me, NOONE fancy being an external auditors anyway. And private accounting (finance/accounting department of companies) will hire you rather you have a finance or accounting degree. The Big 4 probably more stuck up about having an accounting degree- but trust me, tax and external audit (which is majority of what PUBLIC accounting firms do) is NOT where you want to end up anyway.

On a side note, finance jobs are extremely competitive- especially the good paying one from hedge funds and investment banks. You might have a tougher time to find a job compare to accounting.

 

[bennylong]

Finance degree gets you a broader field of jobs, which means financial services. There's no specialized jobs for people with finance degree. Many jobs in the financial industry don't even require a degree if you have experiences. If you want to make big bucks, you have to get a MBA or a CFA. I think you're better off with accounting if your only reason is to get a job.

 

[erub]

My friend has a finance degree, he is working for Wells Fargo analyzing medium business, whether they should get the changes of the loans that they are applying for (or so he tells me). Sounds a lot like a job making powerpoints and playing with Excel..but what do I know, I play with circuit schematic programs all day..

 

[amish]

Originally posted by: iversonyin

Originally posted by: JS80
Majoring in Accounting opens up Accounting and Finance jobs. Majoring in Finance only leaves you with Finance jobs.

Not true at all.

I found finance classes more interesting. I never liked accounting. And trust me, NOONE fancy being an external auditors anyway. And private accounting (finance/accounting department of companies) will hire you rather you have a finance or accounting degree. The Big 4 probably more stuck up about having an accounting degree- but trust me, tax and external audit (which is majority of what PUBLIC accounting firms do) is NOT where you want to end up anyway.

On a side note, finance jobs are extremely competitive- especially the good paying one from hedge funds and investment banks. You might have a tougher time to find a job compare to accounting.

please, please, please don't listen to this guy. his sentences are as flawed as his logic. JS80 is correct in his statement.

 

[Jadow]

I got a finance degree, and I can say, STICK WITH ACCOUNTING!

All the finance jobs are sales jobs, sell life insurance to annuitys to your friends and relatives, really sleazy.

All the good "finance" jobs are taken up by accounting majors. If you want to get a job in the finance dept of any corporation, doing profitability analysis, calculating ROI on some project, etc... those positions are all filled out by people with accounting backgrounds.

I ended up getting a really good IT job and my finance degree is now just a relic.

 

[iversonyin]

Originally posted by: Jadow

All the finance jobs are sales jobs, sell life insurance to annuitys to your friends and relatives, really sleazy.

There are like 2-3 companies that do this. (Primerica being the one of the dominate one). No, most of your finance jobs are not about selling insurance to your friends and relatives.

Finance field is more entrepreneurial. Its about what you want. You can go get a CFP to consult people on their personal finance. Or you can get a CFA to get into financial analyst/research analyst types of jobs. Its about what YOU want to do. Trust me, if you don't like accounting now, you won't like it when you get out. You will get a job quick, but your job is going to be dull and boring to you.

Again, I'm going to say it. Do what you want and don't let anyone steer you away from it. But if your goal is just to get any job and be done with it. Then I guess it doesn't matter if its accounting, finance, history or political sci.

ITS ABOUT WHAT YOU WANT.

 

[Jadow]

Originally posted by: iversonyin

Originally posted by: Jadow

All the finance jobs are sales jobs, sell life insurance to annuitys to your friends and relatives, really sleazy.

There are like 2-3 companies that do this. (Primerica being the one of the dominate one). No, most of your finance jobs are not about selling insurance to your friends and relatives.

Finance field is more entrepreneurial. Its about what you want. You can go get a CFP to consult people on their personal finance. Or you can get a CFA to get into financial analyst/research analyst types of jobs. Its about what YOU want to do. Trust me, if you don't like accounting now, you won't like it when you get out. You will get a job quick, but your job is going to be dull and boring to you.

I grant you that.

However, getting a CFA requires years of work experience, and a ton of study, if he can do it great, but I think he's just in college looking for what major is best. I think it would be best to get his accounting degree, he could still get the CFA after that, but it looking for just a 4 year degree with best job prospects right out of college, accounting is better.

 

[cyclistca]

I ended up working in IT. Most of the cool finance jobs require an MBA.

 

[Midlander]

Originally posted by: Jadow
All the good "finance" jobs are taken up by accounting majors. If you want to get a job in the finance dept of any corporation, doing profitability analysis, calculating ROI on some project, etc... those positions are all filled out by people with accounting backgrounds.

And if you want to be in charge of all those people, get an advanced finance degree.

 

[Jadow]

Originally posted by: Midlander

Originally posted by: Jadow
All the good "finance" jobs are taken up by accounting majors. If you want to get a job in the finance dept of any corporation, doing profitability analysis, calculating ROI on some project, etc... those positions are all filled out by people with accounting backgrounds.

And if you want to be in charge of all those people, get an advanced finance degree.

And if you want to be in charge of the guy in charge of those people, knock up the CEO's daughter.

 

[Midlander]

Originally posted by: Jadow

Originally posted by: Midlander

Originally posted by: Jadow
All the good "finance" jobs are taken up by accounting majors. If you want to get a job in the finance dept of any corporation, doing profitability analysis, calculating ROI on some project, etc... those positions are all filled out by people with accounting backgrounds.

And if you want to be in charge of all those people, get an advanced finance degree.

And if you want to be in charge of the guy in charge of those people, knock up the CEO's daughter.

Shhh. You're tellin all the secrets.

 

[oboeguy]

Major in math, do anything after.

 

[UncleWai]

Originally posted by: oboeguy
Major in math, do anything after.

So true. I regret not being a math major.

 

[aswedc]

Order of Financial Jobs:

IB/Elite Finance - Big money, big prestige, but you can get these jobs with a liberal arts major. Some big investment banks hire more liberal arts majors than business majors!

Public Accounting (Big 4) - Decent money, plenty of jobs, excellent exit opportunities. Recruiters will be ringing your phone off the hook after a few years.

Smaller Public Accounting/Private Accounting/Corporate Finance - Meh, ok jobs, but you're not going anywhere fast. You really have to define your own path.

 

[LegendKiller]

this is the biggest bunch of bs I have seen. 90% of finance jobs are analysis and quant work in either corp or investments.

as probably the only person here who has a CFA charter and an MBA and who works in investment banking with 4 yrs of experience I can be definative in my statements.

personally, accounting sucks. I had to do it in grad school, CFA studying, and somewhat in former jobs. you don't have to have the CFA nor an MBA to get what you want in finance, you just have to desire and work.

as far as accounting opening up finance jobs but not the reverse...who cares? if you want finance and not accounting then why worry about accounting?

that's like saying that if you want your appendix out for no other reason other than you don't want it you should consider your life limited without it. the appendix is like accounting for somebody who hates accounting, its essentially worthless so why even worry?

for anybody who might rip on my grammar, spelling or typing, I am doing this on a pocket pc since my stuff is in temp storage for a move.

Originally posted by: Jadow
I got a finance degree, and I can say, STICK WITH ACCOUNTING!

All the finance jobs are sales jobs, sell life insurance to annuitys to your friends and relatives, really sleazy.

All the good "finance" jobs are taken up by accounting majors. If you want to get a job in the finance dept of any corporation, doing profitability analysis, calculating ROI on some project, etc... those positions are all filled out by people with accounting backgrounds.

I ended up getting a really good IT job and my finance degree is now just a relic.

 

[skim milk]

Originally posted by: oboeguy
Major in math, do anything after.

QFT... double major in math + finance with a minor in computer science

that leaves the door open for a lot of the quant based jobs especially if you pursue a masters in financial engineering or something like that

 

[iversonyin]

Originally posted by: aswedc
Order of Financial Jobs:

IB/Elite Finance - Big money, big prestige, but you can get these jobs with a liberal arts major. Some big investment banks hire more liberal arts majors than business majors!

Public Accounting (Big 4) - Decent money, plenty of jobs, excellent exit opportunities. Recruiters will be ringing your phone off the hook after a few years.

Smaller Public Accounting/Private Accounting/Corporate Finance - Meh, ok jobs, but you're not going anywhere fast. You really have to define your own path.

No. I'll take public accounting off my list after knowing people who work there. They are slave drivers. In private accounting/corporate finance, you have just as good as the pay as public accounting with MUCH less hours. (your salary/pay per hour is greater in private accounting). Also in private accounting, you can become assistant controller and then controller....and if you are good at what you do....CFO isn't that far off.

Path of public accounting: associate-->senior--->manager--->partners. A lot of hours, if you don't LOVE accounting, I would say you will have a HARD time working and staying in the Big 4. The pay is SH*T at low level (pay/hr wise because you work LOADS of hours during busy season).

 

[aswedc]

Originally posted by: iversonyin
No. I'll take public accounting off my list after knowing people who work there. They are slave drivers. In private accounting/corporate finance, you have just as good as the pay as public accounting with MUCH less hours. (your salary/pay per hour is greater in private accounting). Also in private accounting, you can become assistant controller and then controller....and if you are good at what you do....CFO isn't that far off.

Path of public accounting: associate-->senior--->manager--->partners. A lot of hours, if you don't LOVE accounting, I would say you will have a HARD time working and staying in the Big 4. The pay is SH*T at low level (pay/hr wise because you work LOADS of hours during busy season).

That public accounting path isn't very accurate - here's a better one:

Associate --> Senior --> Manager --> Leaving for a great job!

The five year retention rate at Ernst & Young is 16%

Controller and CFO - yeah you can get there from private. But if you go public first, it's much faster, and you stand a much better chance.

 

[imported_weadjust]

I have a degree in Finance.

I was a bartender for several years after graduation. I made more money behind the bar than the job offers I received.

First real job was the county real estate appraiser for the tax assessors office for two years.

Left that job to become a insurance adjuster. Worked for insuance companies handling claims for 9 years. Traveled all over the USA going to hurricanes, tornados, floods, hail storms, and earthquakes.

Left the insuarance companies and started my own Independent Insurance Adjusting Co. Have been self employed since 1999.

 

[Zenmervolt]

Originally posted by: JS80
Majoring in Accounting opens up Accounting and Finance jobs. Majoring in Finance only leaves you with Finance jobs.

Majoring in Accounting will get you jobs in accounting or corporate finance.

Accounting degrees aren't great to get in the door of investment finance. Corporate Finance is not similar to investment, more similar to Accounting.

If you dislike Accounting, why would you want a job in it anyway?

ZV