Which is more beneficial? A double major or a Master's degree.
I'm thinking about a career in the Fintech industry. Would it be better for me to double major in Finance and Computer science or just to go for a single major and get a Master's degree?
- How much additional resources (time, cost) does it take to add additional major vs getting an additional master degree?
- What type of career are you looking to build, near term, and into mid term? Can you meet those without additional major or master?
- How are you planning to differentiate yourself from other job candidate once you graduate?
Think through how much effort you will invest vs outcome you hope to achieve.
For example, if it's an additional semester or two to add one more major tie to what you want to do near to mid term with limited incremental costs, then that might be a good option. Can you achieve your goals without a master? Alternatively if you do one major and it takes six semesters to add master in the same field and increase in expected salary in early years would cover incremental costs and help you reach your career goals? Will that help you better differentiate yourself once you graduate?
There is no single right answer, and research can help you make better decision on your choices. Most importantly, consider what you will need to help you be more successful in areas you are passionate about and hopefully very good at (ability to differentiate yourself).
Hope that helps.
In your situation, do you love and see yourself pursuing a career in Finance or Computer Science? Money aside, the major you should choose you involve waking up each day not hating you are doing to help other and for a living.
Practical experience might be an internship (paid or unpaid, unpaid being easier to land and may be more beneficial in the long run if it's something that interests you), a startup, coding project, etc. Acting on your interest shows tangible drive to an employer / interviewer, but also enables you to better refine your interests. Best of luck, can't go wrong so long as you travel own a path that interests you.
Given the competitive job market especially in Fintech, I would recommend getting a Masters degree. A master's degree can open many more doors and many companies have higher starting salaries for those with a masters. And if you have the aptitude, why not do a double major in undergrad then a Masters in grad school. Or if you can do a combined Bachelors and masters in a 5 year program that would lower your overall cost.
The key thing you need to answer for yourself before this question can be answered is: do you want to work completely on the finance side, completely on the tech side, or somewhere in between? The rest is subjective but I would recommend a double major for anything but the most technical / coding heavy roles, which might require a masters.
A lot may depend on whether the two majors complement each other and are in the same general field. That may influence the total course requirements, but it can also set you apart from other candidates who pursue the same roles but are less deep in the subject matter. If they are unrelated, then it can be about having multiple career options (short and long term) or deciding that the second major makes you happier in some way.
A Masters is mostly valuable for the specific field it is earned for, and is largely a trade-off in tuition/time upfront and perhaps a faster growth trajectory in your career over the long term. Some industries value them more than others, so definitely do your research on the value of the Masters before jumping in.
In addition to having a master in Administration, I am also an engineer. The work of the engineer is very focused on financial budget.
Today I would have completed two degrees that adds value to each other: financial administration and accounting. Because I see that there are more job possibilities and more personal satisfaction for working on what you focus on, in the case of finance and accounting.
That's what I recommend. Good luck!
Luiz recommends the following next steps:
Education is never a bad thing regardless of which path you choose. I ended up double majoring, and then got a master's degree. If I were you, I would consider taking classes that will benefit me both in the short-term and long term (i.e. computer science or management courses).