quote:

Originally posted by sourdough44:
Better to graduate in basket weaving than flunk out of engineering school.

I started in engineering, got tired of partial differential equations, switched to accounting, where all you need is add-subtract-multiply-divide.

Its so easy to just say "get a JD" or anything else. Getting one and all the other majors takes a bunch of work. At this stage in his education he needs to concentrate on his grades. He might not need a 4.0 average, but close to it doesn't hurt. Maybe he should just make the deans list each quarter or semester. That alone ill mean more than the subject matter. The point being that a near 4 point will mean more that your course of study with a 2.6 or whatever. If he "books it" instead of going drinking he'll be better off.

My experience was the major will find itself. He should go where his heart is. All the liberal arts courses offered will mean little unless he's got that 4.0 average. Being on the deans list will mean more in the future than getting laid by a cheerleader. Guess which is more fun. I tried to go the JD direction and quit halfway thru because I didn't really like associating with liberal arts grads. All day every day wears on you. (not a gun owner in the group, either.}

Its difficult to study every night. Studying a subject that isn't really of interest will wear on you. I'd offer up that as a freshman, he's a long way from the suggestions being offered (by me and everyone else.}

^^^^^^^
But a curious trend in places. There are a number of college grads with degrees in social sciences, who have few marketable skills when looking for employment.

quote:

Originally posted by Scoutmaster:

quote:

Originally posted by sourdough44:
Better to graduate in basket weaving than flunk out of engineering school.

I started in engineering, got tired of partial differential equations, switched to accounting, where all you need is add-subtract-multiply-divide.

I started in Pre Med and then switched to Engineering.

Great way to make a living, especially when you start and own a successful business.

My wife ended up completing her undergrad in economics, but her leadership in the econ club and her teacher assistant job on compass (helping to teach macro & micro to freshman) led her to a contact in the commercial real estate appraisal world, which ultimately is where she settled. Now she holds the two highest designations from the appraisal institute and is the president of our state chapter. You never know where you'll end up, but finance, business, and math are good places to start.

My guess (emphasize guess) would be some combination of accouting (with CPA or Managerial Accouting credential), finance, microeconimics, macroeconomics, statistics, and an MBA from a top tier school. ALSO, does he want to be a quant, or something else ? I understand the quant thing, so my perspective is limited.

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Originally posted by Flash-LB:. . . Great way to make a living, especially when you start and own a successful business.

Quick thread drift. I did acct/mba, worked mostly for smaller firms, start-ups. Starting, then running your own business is not easy, but I am sure you know that.

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Originally posted by Scoutmaster:

quote:

Originally posted by Flash-LB:. . . Great way to make a living, especially when you start and own a successful business.

Quick thread drift. I did acct/mba, worked mostly for smaller firms, start-ups. Starting, then running your own business is not easy, but I am sure you know that.

Not easy is true, but that's not the point if you're excited about the ride. If it works out you can do well, if not then you get a job like all the rest of us and do less well. Entrepreneurs and Engineers make the world go round.

I would say Economics. Lots of ways to go with that degree. A lot depends on the school but I believe a person can succeed regardless of pedigree if they have the will.

quote:

Originally posted by sourdough44:
Better to graduate in basket weaving than flunk out of engineering school.

An interesting perspective, but leaves out the "flunking out of basket weaving". A real possibility. I know because we watched it happen to a kid down the side street from where I grew up. Doug was probably a moron at best, but back in the mid 1960s, he wanted to beat the draft. They were rich, sort of. So he got accepted at some college in FL. I don't think basket weaving was his major, but as a joke he took a course in it. And just his luck, the instructor took the course seriously even if he didn't. A recipe for disaster for him. So yeah, he flunked the course, and out of school.

His draft board wasn't amused. So off he went to basic. Daddy's money didn't sway them very much. Its all a big joke until the grades come in. The rich kids had it easy, not having to work. A lot of them even took minimal hours to be classed as full time students, but found it hard to get good grades. Or even passing grades.

I add that to point out the fallacy of the basket weaving argument. Just because a major or even a single course may sound like a joke, but its not. As much as you learn, you also learn how to be serious about whatever you're doing. At the point where the OP's son is a freshman, learning how to be serious could be the most important thing he can learn at that stage. If you have those good grades, you can transfer. The grades stay with you.

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Originally posted by Scoutmaster:

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Originally posted by trapper189:
Look at job postings for where your son wants to be 5 to 10 years after graduation to see what type of degree they require or prefer. In my case, I started out pursuing a finance degree, but added accounting as a second major in my Junior year.

My experience was that you get as much finance for an accounting degree as you get for a finance degree.

It was the overlap in required core classes and electives for the two degrees that allowed me to add accounting as a second major after my first semester as a Junior. One benefit that I hadn't planned on was that I got every class I needed when I needed it because I had more credits than anyone else trying to get the same classes. My second semester as a Senior, I took Advanced Accounting II before Advanced Accounting I. The first day, the professor called me out on it and also asked me how I had 127 credits. I explained that AA-I was not a prerequisite for AA-II and AA-I would be offered the following summer.

This was back when an Accounting was a 4 year degree. Tuition and books were $800 a semester. I took two 9 credit summers as well, but don't remember what they cost.

Back to the OP's situation:

I started off as a Finance major, but really didn't know what I wanted to do with it. By my Junior year, I was engaged which really lit a fire under my ass to figure out what I was going to do after college. I started looking at job listings in big city newspapers and quickly realized that I'd be selling insurance or stocks with a Finance degree, but I wasn't a sales person then or now. I thought I could work towards being a CFO with a Finance degree, but all the CFO listings in the big city newspapers said MBA or CPA required. That's when my path became clear.

Of course my advise is based on what I did 30 years ago and there's some really amazing, specific advise being posted that's probably much more current and relevant. It would never have occured to me that Chemistry or Engineering degrees would be paths to the world of finance.

Besides graduating with that basket-weaving degree, a strong work ethic is also key.

I’ve seen plenty do better with no college, good common sense & the strong work ethic. On the other hand, that aeronautical engineering degree with none of the above may be of little value.

Of course particulars vary widely.

My nephew is killing it in the finance world. He is a handsome and charismatic young man with a communications degree who developed a great network of friends and contacts at a top university.

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Originally posted by rburg:. . . As much as you learn, you also learn how to be serious about whatever you're doing. . .

^^^^^^ Important.

I was a bit mediocre in early college. Not for lack of ability, rather, I raced motocross, lived within half an hour of Park City, Snowbird, etc, I wasn't serious about college. Then I got married . . .

But there is another aspect in addition to being serious, which is to develop study/learning skills. My son graduated high school with an effective 4.0 (he got one C, in a leadership class, as he used his Eagle Scout leadership rather than politically correct leadership). He got to college, commented "high school did nothing to prepare me to think/perform on a college level". His high school was all about equality. Fortunately his roommate in college was a top notch "immigrant" from Japan, hard core in academics.

This message has been edited. Last edited by: Scoutmaster,

It all depends on what you mean by finance.

Does he want to be in corporate finance, banking, public accounting, investment banking, personal finance, financial analysis (real one like people who work at Morningstar) or even forensic accounting (criminal investigation)?

Accounting programs are the most competitive and have the highest entrance standards. Generally they have the highest starting salaries. An accounting degree will get you into any of the above, and a CPA license will be needed for public accounting, and possible forensic (not sure if it's needed but the FBI hires a lot of accountants).

A B.S. in Business with a concentration in Finance will get you into banking or personal finance, maybe an analyst job, not so much for the others. Corporations might hire you but a bunch of accounting grads are going to be competing for the same jobs as well, and their degree holds more clout.

There are a few outstanding state school undergrad accounting programs. U of IL used to be #1, not sure where it is now, and Indiana University is outstanding. One of the big state programs will land you a good company job. Go to the Ivy League or other ranked school for grad school after a few years of experience. MBA/MPA is a good option.

Personal finance is a sales job. Doesn't really matter what you have if you can sell. If you can't sell, degree won't matter either. THIS IS NOT A "FINANCE JOB", you will be selling mutual funds, annuities, and life/disability insurance, and doing estate planning. And you annoy the fuck out of everyone you know by constantly hustling for business.

Friend of mine is a wealth management coach in Las Vegas, and does very well. He has an English degree. He learned to sell by managing car dealerships.

My dad was a CFO at a couple of companies whose names you would recognize. He had an Accounting Degree, CPA, and MBA. He worked in a big 6 firm (when there were 6) in the 60's and then moved into corporate finance at a reasonably high level.

Investment banks are a different story though. They look for talent with numbers to structure investments. Engineering, applied math, physics, computer science and other math heavy majors. They will teach you the rest. But if you want to be a dealmaker you really need a high end MBA.

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Originally posted by trapper189:. . . I thought I could work towards being a CFO with a Finance degree, but all the CFO listings in the big city newspapers said MBA or CPA required. That's when my path became clear. . .

Ditto.

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Originally posted by techguy:
My son who is a freshman in college wants to do something in the financial world, he’s not sure what exactly at this point but he spends quite a bit of time reading up about stocks and the stock market as a whole. Should his degree be a finance or business degree?

The Kids in College and thinks he's might be good with money. Buy this book, make him read it, sit back and watch. should he spend the next 40 years in finance ? you'll know.

https://www.daveramsey.com/sto...ebt-free-degree-book

BS in Finance. And a MBA in Finance. Many schools have a combined program to do both and cuts down the completion time.

The saying when I was in school was the smart kids get an accounting degree. The ones that fail get a finance degree. The ones that fail that get a marketing degree.

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Originally posted by ruger357:
The saying when I was in school was the smart kids get an accounting degree. The ones that fail get a finance degree. The ones that fail that get a marketing degree.

To be successful in marketing, you need to be creative. Accountants get in big trouble when they are creative.