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Degree in Finance; Good or Bad idea?

Posted on 12/14/15 at 5:54 pm
Posted by sjblsu
BR
Member since Nov 2012
392 posts
Posted on 12/14/15 at 5:54 pm
Interested in getting into investment banking or venture capitalism. Already have a diploma in history from LSU and was wondering if it would be worth it to go back and get a finance degree? Any info is helpful.
Posted by Lima Whiskey
Member since Apr 2013
19106 posts
Posted on 12/14/15 at 5:58 pm to
How old are you?

At UVA we had a Masters in Commerce. It was a one year program that allowed people with traditional liberal arts backgrounds to shift tracks.

The first semester was difficult, but the program offered great job placement.
Posted by Jabstep
Member since Jul 2014
2130 posts
Posted on 12/14/15 at 5:58 pm to
quote:

investment banking or venture capitalism


I don't see any other way to get into this field without a finance degree or a prestigious MBA. Just so you know, you're not likely to find those type of opportunities in Louisiana. You may find something in Houston, Dallas, Atlanta but will likely have to go to NYC or So. Cal.

Also, they treat their new hires like crap. 80 hour weeks are normal. I'd do major research before jumping into this field.
Posted by makersmark1
earth
Member since Oct 2011
15749 posts
Posted on 12/14/15 at 6:02 pm to
History is actually a good start for finance.

The past keeps repeating itself in finance.
Posted by wutangfinancial
Treasure Valley
Member since Sep 2015
11077 posts
Posted on 12/14/15 at 6:08 pm to
TBH...a degree in finance isn't worth shite (I have one so I would know). Get an MBA, learn financial modeling and get a 4.0 GPA and you might have a chance.
Posted by Lima Whiskey
Member since Apr 2013
19106 posts
Posted on 12/14/15 at 6:25 pm to
LINK

Here's the link for the MS in Commerce program.
Posted by sjblsu
BR
Member since Nov 2012
392 posts
Posted on 12/14/15 at 6:49 pm to
23. I just don't know many big companies hiring history degrees over finance degrees for accounting/auditing jobs.
Posted by Porker Face
Midnight
Member since Feb 2012
15319 posts
Posted on 12/14/15 at 6:55 pm to
quote:

I just don't know many big companies hiring history degrees over finance degrees for accounting/auditing jobs.


I know a lot of accounting majors that are hired over finance majors for those jobs though
Posted by sjblsu
BR
Member since Nov 2012
392 posts
Posted on 12/14/15 at 6:56 pm to
So maybe Accounting over Finance? Or one with a minor in the other?
Posted by Porker Face
Midnight
Member since Feb 2012
15319 posts
Posted on 12/14/15 at 9:09 pm to
Your OP said IB, the post I responded to was audit/acct. Who are your trying to work for, and what are you trying to get your degree to do for you?

I don't know shite, and I may be very wrong, but if you are based in Louisiana, I am not sure how many IB PE or VC opportunities there are for you. Not bashing it, I'm in Arkansas and it ain't exactly Wall Street South either

From my limited understanding of how it works, you basically you need to move, go to Harvard, then get your finance degree, network like hell, get in at Goldman, slave away for Goldman for a few summers, hope for a job offer from them, take it, move to NYC and work 100 hrs a week
This post was edited on 12/14/15 at 9:18 pm
Posted by wutangfinancial
Treasure Valley
Member since Sep 2015
11077 posts
Posted on 12/14/15 at 9:11 pm to
Now that I'm thinking about it. A MS in acct or finance would probably be a better option
Posted by southernelite
Dallas
Member since Sep 2009
53151 posts
Posted on 12/14/15 at 9:23 pm to
For the history major in ungrad, yeah, needs a MS Finance/Accounting

Posted by lilsnappa
Red Stick
Member since Mar 2006
1793 posts
Posted on 12/14/15 at 9:58 pm to
There aren't many (or any) opportunities in IB/VC in Louisiana..I've worked in VC for small firm in the VC industry in Shreveport, but that's about the only one I know of in La.

As far as the degree, it will open alot more doors in the job market, but probably not what you're looking for.

You can use the degree to get in to a bank and eventually you may get a chance of their investment arm, but its very competitive.

.. And if you're looking to get into a company outside of Louisiana,LSU/Tulane is your only option. Other than that, go for a more well known University outside of the state
Posted by Lima Whiskey
Member since Apr 2013
19106 posts
Posted on 12/15/15 at 12:20 am to
quote:

23. I just don't know many big companies hiring history degrees over finance degrees for accounting/auditing jobs.


I think the MS would make sense for you.
Posted by bobaftt1212
Hills of TN
Member since Mar 2013
1315 posts
Posted on 12/15/15 at 7:56 am to
I hope it's a good idea. I am one class short of a finance degree
Posted by wutangfinancial
Treasure Valley
Member since Sep 2015
11077 posts
Posted on 12/15/15 at 8:47 am to
If you know people in the industry it will pay off or if you have good grades it will work out. I think a degree in computer science is almost more relevant to get a good job in finance. But I'm pretty bitter because it hasn't worked out for me and I don't want to get an MS
Posted by lilsnappa
Red Stick
Member since Mar 2006
1793 posts
Posted on 12/15/15 at 9:19 am to
Learn to code, a good software engineer can pretty much name their price in certain regions these days.
Posted by NoSaint
Member since Jun 2011
11267 posts
Posted on 12/15/15 at 9:58 am to
quote:

Now that I'm thinking about it.


id advise doing some more about that regarding what you want to do -- especially before making a large expensive plan.
Posted by yellowhammer2098
New Orleans, LA
Member since Mar 2013
3850 posts
Posted on 12/15/15 at 10:07 am to
Honestly, a finance degree from a state school isn't likely to get you a job in IB or VC without some serious connections. UA has made serious strides recently with their business school (finance, econ, mis majors specifically) and I'd say at most 3 people per year get a job in IB, big 4 consulting, or VC. In my somewhat biased opinion I'd say that Alabama's business school is better than LSUs unless you're looking to get into some form of O/G IB.

Tulane numbers are inflated for the amount of graduates that get jobs on Wall Street because a lot of them are from New England and have connections that have nothing to do with Tulane.

A finance masters degree is probably your best bet. I'd look at Vandy tier schools. If you can't get into that tier, even a masters degree probably won't get you a job much better than an entry level analyst job at a regional bank.

Also assuming this interest in IB or VC is new and you haven't taken past Cal I, you're gonna have a lot of work to do to get a useful Finance degree, which would be the ones that include a modeling/analytics focus.
Posted by wutangfinancial
Treasure Valley
Member since Sep 2015
11077 posts
Posted on 12/15/15 at 10:26 am to
quote:

In my somewhat biased opinion I'd say that Alabama's business school is better than LSUs unless you're looking to get into some form of O/G IB.



I'm in a competitive market and I can tell you that if your degree isn't local, it better be a top 50 school, and you better have top notch internships to be competitive for IB. VC is much harder to break into. I know of one kid from LSU that graduated with a Finance degree that got an IB offer without going to grad school. The only other person I know who is in IB from LSU had serious connections.
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