What are your insights on a good business major a student should go for?
Hello! I am currently a junior in high school and I do have a huge interest in the business field but I don't know what to major in. I have been gaining a lot of interest in business administration, finance, and marketing but I really needed some insight from anyone who have studied in the business field or in the majors I have mentioned just so I can get an idea to see which one is right for me.
#majors #marketing #finance #business
That being said, each major has its own benefits. Accounting majors are seemingly always in demand by employers. Understanding financial records has applications across nearly all companies Data analytics has been fast growing. Finance also offers a broad base. Marketing offers a bit different path than I'm familiar with, but is a great field if you're more interested in the consumer side of things.
Some universities/colleges allow you to enter into a broad business curriculum and only declare a major after a year or so. If possible, this could offer you a good way to experience each field before making a decision.
I tell you my background, because I want you to see how things change. You'll explore and experiment with your likes, dislikes, talents and skills until you find the right track for you. I would start by picking what you feel most drawn to, but you should then attend a school where you have options should you decide to change your mind. Finance and Marketing are quite different than each other and while I enjoyed marketing, I was not very good at it. But I found myself excelling at the more technical/math based fields. Looking back I think I should have chosen Accounting because I would have rocked it based on my skills and personality. But ultimately I have no regrets. I have been able to maneuver my career in a way to keep me challenged and learning new things. I wish you the best in your selection process!
Quick background: I hold an undergraduate and graduate degree in Finance
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 math involved.
Michael recommends the following next steps:
First of all, I really commend you for taking the steps at your age to think about your future and hone in on a major for college. To give you some background I started my college career as a Computer Science major but switched to Finance after my Sophomore year. I have since then graduated with a degree in Finance and currently have a job at a Big Bank (refer to my LinkedIn for further details).
I would suggest to keep your mind open about your major and not worry about having a select major right at the on start of your college career. It is perfectly normal to start off in one major and then switch to a different major down the road. Unless the University you are going to requires you to select your major early on (some Business schools do this), you shouldn't worry about a specific major. For the first few semesters, most business school majors take the same classes anyways, so leverage your first few semester by networking with upperclassmen, alumni and members in business school to decide what major you want to graduate with.
Additionally, you can get most business jobs out there with any business degree. There are only select fields that require you to have a specific major. Focus on a major that you believe will help you learn the most and network.
Hi, balance the major with a business and technical track. Both are critical in the future as you grow at companies or run your own company.
From my experience working at Capital One, looks like nowadays Industrial Engineering (aka. Operations Research) is also a great major in college, because it has a lot of math and engineering around systems operation, decision science. It's not finance per se, so may open even more doors!
I started off as an accounting major, then after a brief hiatus from college, I found a program that had a Finance & Accounting Management degree and it seemed more challenging so I switched to that. I had always felt I would want to become an accountant, since junior year of high school, but for me, after taking a finance course, then two, I realized that I enjoyed that subject matter much more and because of that went heavy on finance classes and am now a financial analyst at a big bank. My point with that is, it's great to be open as you are to getting advice on the different majors that are out there in the business, finance, etc. area, but as others have mentioned, some of these programs start off the same and taking a couple of courses with them will give you a greater idea of what subject or direction you favor more over another.
Also, researching the schools, look at what degree programs they offer may help. I also found it helpful looking ahead at the classes offered for the degree programs, reading the descriptions of the courses guide me as well in choosing the direction I went with. Best of luck to you!