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I'm not sure what majors I should take. It's between finance and economics or finance and marketing.

I don't know which two would be better suited together and in the job field.

#finance #economics #marketing #career


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Ethan’s Answer

Great question Keshari, ultimately you can’t go wrong either way. Finance is a great option these days with everything that is going on with our economy. Out of Economics and Marketing it would really depend on what you want to do as a career. I feel that Marketing might be a broader range of careers for you overall. With the booming about of social media marketing needed right now with CO-VID, that might be somewhere to start! Good luck with everything and hopefully this helps!

-Ethan

Thank you! Keshari P.

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Yanwen (Yvonne)’s Answer

The decision ultimately will be dependent on your interest and career aspiration. The input I can provide is the difference among these choices. Based on my understanding, Economics is the mother principle and belong to social science category. Finance and Marketing are business school majors with different focus. I'd say Economics could be the foundation for the other two.

Thank you! Keshari P.

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Rajiv’s Answer

Hi Keshari,

Difficult to answer the question but think about what would be your dream first job? Based on your career aspirations you can decide which majors to consider. Lot of people from different disciplines transition into marketing if that is what you want to do. Finance with any of the those two options are good.

All the best

Rajiv.

Thank you! Keshari P.

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Ali’s Answer

You should know that there is 0 correlation between finance and marketing. Thus said, I wouldn't advise you to choose Marketing and Finance. However, Finance and Economics option makes more sense as they are mathematically correlated in terms of subject-matter.

I can give you my perspective from a Finance point of view.

Quick background: I hold an undergraduate and graduate degree in Finance (even Economics - I know that it requires a rigorous maths background but finance is "mathier" than Economics)

If you want to get into the field of finance, I would HIGHLY recommend you to perfect your mathematical knowledge. Honestly speaking, you need to be very good at it. You will be exposed to very complex models that may require a robust mathematical background.

In fact, most of the finance PhD hold a degree in mathematics, physics or engineering. You should know that finance is more than Valuation and Corporate Finance.

To excel in Finance, you need to have a robust understand for Calculus 1, 2 and 3, Linear Algebra, Partial Differentiation, Probability Theory and Fundamental of Statistics at least. When you hold this know-how, you will be able to dig into the interesting world of finance: Quantitative Finance, Structured Finance, Econometrics etc.

Just look up on google for: Black-Scholes Model and you will understand the extent of maths involved.

Making me a little nervous now that I've chosen this haha. Thank you for the advice, I have already noticed the correlation with maths you're talking about! Keshari P.

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Darren’s Answer

This is a good question and I feel it depends on what you have a greater passion for, however, I also feel you can't go wrong with either combination.

Finance/Economics leans more towards money management and careers in the Finance/Treasury areas. Finance/Marketing can potentially lead to a broader set of opportunities. However, this should not limit your career choices and your main goal should be to excel in college and get your degree. Don't be afraid to make a different career choice from your field of study if you find you have a passion for it. Yo u will be a better employee if you like/love what you are doing vs doing something that is not enjoyable.

I wish you the best in college and professional career!

Thank you very much. I do feel more confident in my choice now and am looking forward to my future career. Keshari P.

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Simeon’s Answer

Finance and Marketing is the better combination in my part of the world. There are a lot of marketing specific jobs that require a background in marketing. You can't even teach marketing to high schoolers here without years of experience in marketing. Plus, it'll prepare you for a modern job market while economic theory will mostly give concepts from past generations on why the economy operates the way it does. Marketing is a more practical field. So, unless you're looking into economics as a career, I would just glean the benefits of economic knowledge while having marketing as your explicit degree. I can't actually think of where you would use an economics degree outside of working for the government and assisting with their monetary policy. That's not to say the knowledge itself isn't important; just that there's no unique advantage to that major.

That definitely makes sense, thank you! Keshari P.

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Nikki’s Answer

Hi Keshari,

Great question and glad to see that you have a good idea of how you want to shape your career! I've been in corporate finance for about 6 years now, primarily in FP&A where we focus on supporting the company in the planning process. In what I do, having a marketing view of the business is actually very beneficial, and we rely heavily on insights from the marketing team to build our forward looking plans.

Because I work for a consumer oriented company, business activity is heavily influenced by marketing decisions - pricing, discounts, how much to spend in advertising, customer segmentation, etc. We incorporate all of these factors and translate that into financial impacts to our bottom line. So, from my perspective, having a very solid background in finance coupled with a good understanding of marketing is a very good combination and will provide you with a unique skill set that can bring a lot value when you are applying for jobs.

Best of luck to you in your career journey!

Thank you very much. I will surely keep this is mind going forward Keshari P.

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Zipeng’s Answer

Great question Keshari, one should really be careful with the major they want to choose.

All these majors are great in terms of salary, employment, and growth potential, you should do a thorough analysis of your skills and passion to determine which one suits you the best.

But to supplement all the other answers, here's something that you can do before picking a major. You can check out your school's website and find all the required classes for each specific major. Since all these majors are in the business field, there should be a lot of overlaps. So before you make up your mind to pursue a certain major, you can complete all these common classes first.

Hope that's helpful!

Thank you very much. That is helpful Keshari P.

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