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I have worked alongside of two men with Finance degrees. What you are saying is pretty much what they seemed to express to me. Not so much that they were disappointed with their education, but trying to apply their education to the real world, just did not make sense to them.
I have had the honour of spending many hours in hot debate with both of them.
At the time one of my duties was 'budget counseling' and tax-planning.
It seemed that their degrees did not adaquately prepare either of them for the real world.
I don't know why it's so theoretical and non-real world based.
I could understand it if it was science or astronomy. Where something is truely unknown, but in finance, many answers are in regular books....i.e, non efficient market books, robert cialdini's "influence" (talks about psychology and persuasion triggers). And other big picture books.
But it's way too micro for the world. You could be getting a finance degree in 07 or 08, but many think the money is shifting away from nyc to other financial centers. A sea change. And the big winners are going to be in other industries, in other countries. And you miss the whole boat.
There aren't enough arguements made for or against something. Warren Buffett, doesnt believe in many of the theories taught, but you dont hear opposing views. There isnt enough information to let students make their own decisions for or against something.
-Also whats taught views institutions like the Federal Reserve as "good". Or, it's implied that it's "good" or "proper". Not enough information to make an objective decision whether they are good or bad.
Hey, I'm a Finance major in my junior year but I'm worried that the state of Wall Street and the banking world as a whole is in no state to be hiring anyone, much less wet-behind-the-ears college grads. I chose Finance because of my personal interest and the money (can't lie) but will I be able to find a job? I graduate in 2 years so maybe the financials will be doing much better, what are your thoughts?
I'm considering taking a double-major in Accounting just for some job security-even though I will have to stay in school an extra semester. Do you think this is a smart move?
Any thoughts/ advice would be greatly appreciated. If you are connected to the industry say so, if you don't mind.
Why don't you complete ACCA of CFA? They are easier, cheaper and you can work on them even if you are working. They are something like part-time MBA.
I graduated not too long ago, and I can honestly give you this answer:
Do what you love doing!
I know, I know...it sounds like that is the cheesiest line ever. But it's true - the people that really do well in their careers are the ones that are passionate about what they do. So if Finance class is the one you're always looking forward to - for no explicable reason - then you're on the right track.
It isn't worth picking a career just for the job security, because that's no way to go through life. I mean, if you enjoy accounting - which happens to offer pretty decent job security - then by all means go for it.
On the other hand, your college major doesn't lock you into a certain career for life. So if you graduate with a Finance degree but in a few years decide that you want to be in Marketing, you could make it happen. My mom was an Education major, but she later went on to have a career in Public Relations.
Accountants don't learn advanced arithmetic lol , they learn rules. The math part of accounting is really easy, in fact the math needed for a major in finance is tougher. I should know I am a finance major with two classes away from getting a major in accounting alo.
Oh yeah I am working with the SSA now so almost anything is possible
Accountants don't learn advanced arithmetic lol , they learn rules. The math part of accounting is really easy, in fact the math needed for a major in finance is tougher. I should know I am a finance major with two classes away from getting a major in accounting alo.
Oh yeah I am working with the SSA now so almost anything is possible
Accountants do learn advanced arithmetic. The math, as for maths sake, requirements for both accounting and finance are about the same.
The difference is, thats where it ends for accounting. Finance requires arbitrage, statistics, futures, derivatives, etc. Most of this accounting majors dont have to worry about. These require significantly more advanced concepts of math then arithmetic and percentages that make up most of accounting.
I think the hardest math accountants really deal with is developing schedules for loan and capital lease payments.
Accountants do learn advanced arithmetic. The math, as for maths sake, requirements for both accounting and finance are about the same.
The difference is, thats where it ends for accounting. Finance requires arbitrage, statistics, futures, derivatives, etc. Most of this accounting majors dont have to worry about. These require significantly more advanced concepts of math then arithmetic and percentages that make up most of accounting.
I think the hardest math accountants really deal with is developing schedules for loan and capital lease payments.
I guess if you call that advanced arithmetic, I guess we have diff. viewpoints or maybe I am thinking of something different. All I know is that the math required for my finance classes were "harder" then the math required for my accounting classes. I think you are spot on in the last sentence though, at least from my experience.
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