Breaking in Finance from Undergrad

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jaz

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Hi all,

I'm currently a 2nd year undergrad student majoring in Psychology wanting to pursuit finance as a career. I've heard that people from the Arts CAN make it to the i-banks what not... but how likely is this? For this reason, I am trying to change major. I've got 2 options: (1) switch to Economics at the same uni (University of Waterloo) or accept an offer from a 2nd-tier business school (Uni of Ottawa) and major finance from there. My current school does have a better reputation (sadly no business school) but Ottawa's education gives me a stronger finance background (BBA in business/finance). Anybody have input?

Greatly appreciated..

jaz
 
How much stats do you do in your psychology? Take that and you can argue you have some quant skills. Also, go ahead and take some economics courses... there are economic approaches to psychology that will fit both tracks.

Out of undergrad, my sense is that iBanks are looking for smart people, and those who have demonstrated interest by doing something finance related in coursework (stats, economics, or even regular finance courses) can add to their chances.

Just some thoughts. I'm not claiming to be an expert on this.
 
you can make it as psych major if you've got oustanding credentials and come from a great school. if you're a borderline candidate it doesn't help your case.
 
Anything is possible, some things are just more probable.

An investment bankers with a psych degree, I am sure there are some out there. However, it will take some luck at the initial screening and then some sweet interview skills on your behalf during the important part of the application process.

My honest opinion is this; get your butt into the HBA program at Richard Ivey. That is your best shot, and I might say a pretty good one at that. The HBA is a targeted program, you will have access to all the banks and they will be salivating.

It is tailor made for you, as evidenced from their site:

"Many students use their first two years of university to explore a variety of academic interests. Students from other universities, who are interested in pursuing a business program, have the opportunity to apply to the Ivey HBA Program from almost any faculty or program at the end of their second year.

Approximately 2/3 of our Ivey HBA class are formerly Ivey AEOs (pre-admission status attained after secondary school), the remaining 1/3 are students from Western and other universities who discover an interest in business during their first two years of study."

Do it and one day you will be much much richer than all of your present psych classmates at Waterloo, and most likely 99% or the economics majors there to.

Now you have your mission, go forth young Jedi and become an IB analyst.



Edited 1 time(s). Last edit at Tuesday, July 3, 2007 at 09:09AM by westerncanada.
 
thanks for the insight everybody.

I actually have the option of leaving psych and switching into econ as my backup. however, i'm just curious whether employers value a Waterloo degree in Econ more or a Commerce/Finance degree from UOttawa more (both has co-op so I'm looking at at least 1 or 2 terms in a finance role).

About Ivey, I understand the value of the HBA as my friend actually switched there and is now working in a bb in NY... good for him!! unfortunately, I missed the deadline for this year so I have to try next year. Plus I have to catch up 2 courses which i hope to be prepared for the next admission round.
 
I have an econ and math/stats degree. From what i have read about ibanking you need to know some accounting. there is no calculus or econometrics involved in constructing financial statements and talking about M&A activity. If there is some that i am not aware of, it is very little. Do you have a minor in your econ program. Also, choose the school you feel the most confortable with and can get the best grades are the quite similar. U of O and U of W. Talk to some ibankers now if possible to gain a insight into what you can do to distinguish yourself from others, I would not wait untill after you graduate to think about this, as is the mistake i made. ibankingoasis.com has been mentioned before, you might want to check it out. Good luck
 
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