Miss Marple Posted January 20, 2010 Share Posted January 20, 2010 Please help this science major help her son who is interested in a financial type of job. I'm clueless (except for the math part) how to guide him. What type of careers are available for a finance major? How does it differ from accounting? What he's interested in is working in stocks and investments - is there something else we should look for? Also, does it matter too much where the degree is from? I know many jobs don't bother about where the degree is from, but there are others that do. Is this one of those? If so, where are the "good" schools? Does he need an advanced degree? He's an excellent student, but we also don't want to hock the future of the other kids by picking an exclusive/expensive school. HELP!!???:001_huh: Quote Link to comment Share on other sites More sharing options...
The Governess Posted January 20, 2010 Share Posted January 20, 2010 Finance jobs other than stocks and investments include budgeting, forecasting, business valuation, mergers and acquisitions, and investment banking. I think a finance degree is more flexible than an accounting degree, I wouldn't get an accounting degree without being really excited about accounting. :D ETA: I went to a state school and didn't have a problem getting a job. Quote Link to comment Share on other sites More sharing options...
TravelingChris Posted January 22, 2010 Share Posted January 22, 2010 I have an economics degree from the University of Chicago. ALthough we had no finance specific courses, we did get recruitment from the big investment firms. I would say it depends on what he wants to do. If he wants to be in the investment banks in NY, it does matter more to what school you went. IF at local houses, it probably doesn't matter if he went to college at all. Quote Link to comment Share on other sites More sharing options...
April in CA Posted January 22, 2010 Share Posted January 22, 2010 Hi Cynthia, A finance degree can be quite flexible, but I would like to address another issue regarding your son who is interested in working with stocks and investments. Does he realize that many jobs in that field are really sales jobs? I loved learning about how the markets work, but I have never had an interest in sales - the idea of cold-calling gives me chills. Also, there can be pressure to sell certain higher-commission products regardless of what the client actually needs, unless, of course, you are a fee-only financial planner. Even then, though, you still have to find clients. It might be a good idea for him to talk to a number of people in the industry to find out what they actually do and what the important skills are. If he doesn't like sales, he might find financial analysis more appealing. Good luck to you both! Blessings, Arpil Quote Link to comment Share on other sites More sharing options...
Miss Marple Posted January 23, 2010 Author Share Posted January 23, 2010 If he doesn't like sales, he might find financial analysis more appealing. I truly cannot see him in a sales type position. He's rather quiet - likes to be at the party as long as he doesn't have to be the life of the party, KWIM? What would a person who works for a company, say like Merril Lynch, that does financial planning (i.e., works with individuals to plan retirement, investments, mutual funds, etc.) need for a degree? What kind of specialization would he need? TIA Quote Link to comment Share on other sites More sharing options...
Sara R Posted January 24, 2010 Share Posted January 24, 2010 does financial planning (i.e., works with individuals to plan retirement, investments, mutual funds, etc.)? That is selling, isn't it? He would be selling the people the various investments. Or he would be a fee-only financial planner, as mentioned above. What about becoming an actuary, or accountant? Those seem like less social careers in related fields. (Speaking from a position of ignorance here) Quote Link to comment Share on other sites More sharing options...
The Governess Posted January 25, 2010 Share Posted January 25, 2010 I truly cannot see him in a sales type position. He's rather quiet - likes to be at the party as long as he doesn't have to be the life of the party, KWIM? What would a person who works for a company, say like Merril Lynch, that does financial planning (i.e., works with individuals to plan retirement, investments, mutual funds, etc.) need for a degree? What kind of specialization would he need? TIA Being a financial planner means that his main job would be to convince people to let him manage their money. His early years will be almost solely spent getting clients. The financial planning ends up being a smaller portion of the job. Depending on the company, he wouldn't need a degree. He would need to get licensed to sell mutual funds and stocks. There are 2 or 3 exams he would have to study for and pass, and then he would have to maintain his license. But some larger firms probably require a degree. Quote Link to comment Share on other sites More sharing options...
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