The Value of a Finance Degree in Today's Job Market

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  • čas přidán 30. 06. 2024
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    In this podcast, I sit down with Dr. Brian Adams a Ph.D., a Professor of Finance at the University of Portland. We discuss a variation of topics focusing on finance and the finance degree, as well as the application of the finance degree to one's career, and other areas of life.
    A finance degree prepares future professionals to guide individuals, corporations, government agencies, and other firms or organizations through financial struggles and uncertainty but also with short-term and long-term planning responsibilities.
    Finance majors complete a balance of theoretical and practical courses in a myriad of areas including business development,
    economics, organizational management, marketing, risk management, accounting, investments, supply chain, statistics, and IT.
    The value of an MBA can vary depending on the individual and their career goals. For some people, an MBA can provide valuable skills and knowledge that can help them advance in their career and possibly increase their earning potential. For others, an MBA may not be as useful or necessary. It is important to carefully consider the costs and potential benefits of an MBA before making a decision to pursue one. Everyone's situation is different so there is no universal answer
    It is ultimately up to each college to decide whether or not to remove testing requirements for admission. There are arguments for and against removing testing requirements, and the decision will depend on the specific circumstances and goals of the college.
    There are many opportunities for women in finance. In recent years, there has been an increasing focus on diversity and inclusion in the finance industry, and many organizations are making efforts to hire and promote more women in finance. There has also been a push at the university level to increase diversity amongst majors where there is a lack of gender neutrality. Finance is one of those majors that has long been a male-dominated space. I as Brian what he thinks about this and how the university and industry as a whole is working and adapting to resolve this.
    Self-censorship in the classroom refers to the practice of students suppressing their own thoughts, opinions, or expressions in order to avoid offending or upsetting their classmates or teacher. This can happen for a variety of reasons, such as a fear of social rejection or a desire to conform to group norms. Self-censorship can be detrimental to the learning process because it hinders open and honest discussions, and it can prevent students from fully engaging with the material. Teachers and educators can help to prevent self-censorship in the classroom by creating a safe and inclusive environment where students feel comfortable expressing their ideas.
    Higher education has changed significantly in recent years due to a variety of factors, including advances in technology, changes in the job market, and shifts in the economy. Many of these changes were a result of the recent and ongoing COVID-19 pandemic.
    The podcast concludes with Brian sharing his advice for anyone considering a finance degree. How might one should approach it. What it is useful for. Why some sort of financial education is important for anyone.
    0:00 Intro
    2:05 Why Consider a Finance Degree?
    12:37 Is the MBA Still Worth It? Is the MBA a waste of money?
    22:29 Should colleges remove testing requirements?
    28:33 Females Opportunities in Finance
    35:35 Self-Censorship in the Classroom
    43:33 How Has Higher Ed Changed
    46:46 Advice for Young People

Komentáře • 361

  • @rizzzHERO
    @rizzzHERO Před 10 měsíci +491

    I graduated with a Bachelors in Finance this past semester. I am currently interning for a Financial Planning/investment firm. They will be sponsoring me for my further certifications (SIE,Series 7) and once I am fully licensed I will become a junior financial advisor. The people I work with are professional and VERY wealthy. I look forward to the future of my career

    • @tube.brasil
      @tube.brasil Před 10 měsíci +28

      I wish you success.

    • @cristianbarrera8849
      @cristianbarrera8849 Před 10 měsíci +11

      I’m doing the exact same thing! You got LinkedIn? 🤣

    • @vietanh2899
      @vietanh2899 Před 10 měsíci +4

      May I ask how many hour do you work a week?

    • @The-Capitalist
      @The-Capitalist Před 10 měsíci +1

      My plan lol

    • @luckyraine
      @luckyraine Před 10 měsíci +4

      My plan too but idk how to start. Currently on my 3rd year. Any advice?

  • @Hugo__IV
    @Hugo__IV Před 6 měsíci +146

    “It’s how you go to college, not where you go to college” - by far my line this! So many get it twisted and seek the brand but once they achieve that they don’t maximize the opportunity.

    • @aena5995
      @aena5995 Před 4 měsíci +2

      i started a business data analytics degree but unfortunatey now idk if i should switch to business with a minor in business data analytics or a bs accouting finance with minor in business data analytics (can get exemptions for acca) can i go for data analytics roles with it ? :/ really didnt wanna switch but ugh

    • @wallstreetzoomer
      @wallstreetzoomer Před 3 měsíci +1

      I mean the bulge brackets still reserve majority of the most lucrative roles for the ivy leaguers

    • @noahmatthew6658
      @noahmatthew6658 Před měsícem +1

      Where you go to college for a bachelor of finance is the most important factor

  • @cardplayer2124
    @cardplayer2124 Před 10 měsíci +182

    Majored in Finance and Economics. Graduated back in 2020 and went into investment banking and now currently work in private equity. The money is amazing.

    • @rayfym
      @rayfym Před 10 měsíci +6

      currently about to go for a finance major starting next week. Little nervous but I hope everything turns out alright

    • @cardplayer2124
      @cardplayer2124 Před 10 měsíci

      @@rayfym best of luck. My suggestion is pick up a 2nd major. Will help you stand out. Also, don’t underestimate how important accounting is. If you have strong accounting skills you can graduate making 6-figures easily.

    • @justintran3012
      @justintran3012 Před 8 měsíci +2

      Did you intern during your time in college?

    • @cardplayer2124
      @cardplayer2124 Před 7 měsíci +20

      @@justintran3012 yes. Junior and senior year. Internships are a must to break into the field.

    • @fastfowardbutton1965
      @fastfowardbutton1965 Před 6 měsíci +1

      Can I ask you a few questions?

  • @kimmackelvie117
    @kimmackelvie117 Před rokem +133

    Really interesting insights about why a student would or would not pursue a higher ed degree. Bet this guy’s classroom is worth every penny.

  • @PaolaHuezo
    @PaolaHuezo Před 10 měsíci +116

    I got my degree in finance and worked in fintech operations in institutional banking and it was a great experience. The bank paid $5k a year for tuition and I thought about pursuing my MBA, but my boss had asked me why would I want to do that. He told me the president of institutional banking made $12 MM a year and only had a bachelors in finance and all you needed was the right network, your foot in the door, and work hard. I already had the right network, my foot in the door, and I work hard. I realized MBA is really more for the folks who had a hard time with those two steps in the financial world. Maybe one day, I’ll pursue it if the future company I work for pays for all of it, but I refuse to go in any debt for it. Interesting take.

    • @arhamshaikh973
      @arhamshaikh973 Před 10 měsíci +1

      Did you do any certifications or courses that you think helped you landing an internship or work experience? Which ones

    • @Kstee_
      @Kstee_ Před 6 měsíci

      Hi,would like to know What did u mean by right network

    • @denko44
      @denko44 Před 5 měsíci +2

      20 30 years ago you can get away with a bachelor's. Nowadays, you need experience and higher ED. In my state Masters sre needed to even be considered unless you have ALOT of experience. So I'd say it's important for new people trying to get into the industry.

    • @xianxiong3440
      @xianxiong3440 Před 5 měsíci

      @@denko44 Makes me question about how people get experiences without getting into the industry. Do you realize that even entry level of the lowest-tier in finance and accounting is requiring years of working experiences? Makes people wonder if networking is more important than education when comes to getting your foot in the door.

    • @happywings15
      @happywings15 Před 5 dny

      @@xianxiong3440definitely is, do your best to get both

  • @nokwandatwala7600
    @nokwandatwala7600 Před 4 měsíci +10

    First of all, I thoroughly enjoyed this conversation! I graduated in BSc Human Physiology in 2017 and in 2019 found myself navigating and exploring parts of the financial sector (haha universe). Through gaining knowledge and experience in the process, after 5 years I feel I am ready to lay the proper foundation towards furthering my career in this field by getting a finance degree and fully immersing myself to the endless possibilities highlighted in the discussion.
    I have been researching jobs within the space and doors that a higher education can open, but I must say after this video I feel even more confident about the decision I'm about to make and I am looking forward to setting myself up for this next chapter of my career growth journey. Thank you gentlemen!

  • @i.03983
    @i.03983 Před 10 měsíci +142

    I am a finance major and if you want to major in finance just know that the field is extremely competitive. from the get go if you want to be successful and this is even a maybe you need a good internship at a well known company and if they offer you a job after your internship take it. to be in finance you need to be well connected and willing to network I advise people who really want to go into finance to study accounting because companies go after people who study accounting and a lot of accounting majors tend to work in finance. also in the finance field its becoming more technological so I would advise people to study tech related fields.

    • @menzisaclown
      @menzisaclown Před 10 měsíci +1

      Thank you. Good show.

    • @adrianong33
      @adrianong33 Před 10 měsíci +13

      everyone i see taking finance in college only wants to work at investment banking. else they go asset management or quant if they are such a math nerd. no one wants to work in financial advising aka insurance sales. venture capital/private equity is a no go because they only take 1 out of 1000 undergrad and usually hire after someone has 2 years of investment banking under their belt.

    • @h.9089
      @h.9089 Před 10 měsíci +5

      As a Finance major, I wouldnt recommend majoring in Accounting in order to get a Finance job. Just take internships and minor in tech or get a tech related certificate.

    • @DreGoGetit
      @DreGoGetit Před 10 měsíci +1

      Just got my accounting degree May 2nd

    • @humanbeing8948
      @humanbeing8948 Před 10 měsíci

      Have you ever considered working at a trading firm? That's what i wanna do once I've graduated.

  • @jamaalsabree
    @jamaalsabree Před měsícem +1

    This was extremely helpful. This video is one of a kind on this topic. I appreciate you posting this.

  • @andresjavier3970
    @andresjavier3970 Před rokem +53

    What a wholesome personality for a Finance professor lol. Great video and very insightful! Also love the Lex Fridman type of vibe to this podcast (great choice of inspiration)

  • @dollarbar1
    @dollarbar1 Před 5 měsíci +3

    I like what he said about being able to communicate. As a person with a weakness on communication, I was not a good fit for finance.

  • @UptownSigma
    @UptownSigma Před rokem +25

    Great video definitely reaffirms my stance on pursuing accounting then finance. Thanks a bunch!

  • @pondzischeme6430
    @pondzischeme6430 Před 2 měsíci +7

    Best selling point was the first. Though barriers to knowledge are disappearing everyday, a finance degree does highlight someone's ability to analyze qualitatively and quantitatively.
    I majored in Finance, graduated a decade ago. Working in Construction Management. Random ride. But I do well, and my finance background fast tracked me into other construction avenues; like contract negotiations and proposals.
    At first, working around a lot of Engineers made me second my degree choice lol. But there's always an opportunities, in any industry or field, for someone with financial literacy. Keep your options open, and do not be afraid of work somewhere that may not think apply directly to finance.
    If you have great reading comprehension skills, and can communicate effectively, you're going to find your way with a finance degree.

  • @martymaranan7191
    @martymaranan7191 Před rokem +9

    Finance play important role in every people’s lives!

  • @ianjackson88
    @ianjackson88 Před 5 měsíci +4

    Excellent interview, very interesting points regarding MBA online vs classroom lectures of which I’d agree 100%

  • @ProfeCristian
    @ProfeCristian Před 10 měsíci +1

    This interview is amazing. Only one recommendation: you spend so much time in sharing one idea or question, a lot of words are needed to talk about one precise comment

  • @princegumbo2382
    @princegumbo2382 Před 10 měsíci +9

    It's quite interesting how this conversation clearly outlines the key points which make Finance a human science

  • @ErickaWilliamsCC
    @ErickaWilliamsCC Před 10 měsíci +2

    Great video. Glad you interviewed him. I enjoyed it

  • @tyrellredoble7530
    @tyrellredoble7530 Před měsícem +1

    Gonna studty finance this sep and this video is perfect timing to watch!

  • @KamikOzzy_
    @KamikOzzy_ Před rokem +9

    Getting my masters in finance this year! Glad I ran into this video, subbed.

    • @michaelmackelvie
      @michaelmackelvie  Před rokem +3

      Love to hear that - thank you!

    • @xcYT-tl5xp
      @xcYT-tl5xp Před 6 měsíci

      do you mind if i ask how its been so far, is it much harder than expected? are you working in the field while taking masters

  • @qasemalshawaf8585
    @qasemalshawaf8585 Před 10 měsíci +2

    My first year in college and am going to study finance 🤍, wish me luck 🙏🏻 thank you Dr. Brian and Michael 🙏🏻

  • @FailedChadLite
    @FailedChadLite Před 10 měsíci +31

    Accounting is better for finding jobs and you can easily pivot into a finance job later. Working for a cpa tax firm can give you an excellent background for financial advising.

    • @newagain9964
      @newagain9964 Před 10 měsíci +2

      Yeah. Finance degrees are not advised. Finance minor is better. And major in IT or accounting. Will need a masters tho to be a CPA.

    • @FailedChadLite
      @FailedChadLite Před 10 měsíci

      @@newagain9964 You don’t necessarily need a masters. You need 150 college credits including accounting and business courses.

    • @ThePipojp
      @ThePipojp Před 6 měsíci

      Nah, finance is way better for careers that are more competitive and pay more such as IB, Research, trading, etc. Accounting prepares you for the backoffice.

    • @xianxiong3440
      @xianxiong3440 Před 5 měsíci +3

      @@ThePipojp Without getting your foot in the door first, there is no career.

    • @RadiantandDire
      @RadiantandDire Před 4 měsíci +2

      ​@newagain9964 you dont need a masters

  • @takshgoel4767
    @takshgoel4767 Před rokem +17

    As someone who is going to purse finance in college starting August 23, it was very helpful. Thanks and best of luck!

  • @Kawaii_Imani
    @Kawaii_Imani Před 10 měsíci +3

    I would have like to have seen the discussion head towards how MBA’s or business related degrees like data analysis could be applied now (what positions are in demand and will continue to be in demand and not automated) and a prediction of how the job force will change in the next few decades.

  • @paulschell2712
    @paulschell2712 Před rokem +42

    I have a degree in finance. Remember this, trying to major in finance without also studying accounting is the wrong decision. One must understand accounting principles to be able to model using that data.

    • @Han-nk3io
      @Han-nk3io Před rokem +1

      I also take part in a few accounting course in my finance degree.

    • @shivanshshukla5883
      @shivanshshukla5883 Před 11 měsíci +14

      ​@@gchen7172did you not take any accounting classes? All finance degrees have accounting in first yesr atleast

    • @RexiRexx87
      @RexiRexx87 Před 10 měsíci +1

      I’m in community college right now, do you think I should concentrate in accounting for my associates then concentrate in finance for the bachelors??

    • @paulschell2712
      @paulschell2712 Před 10 měsíci +1

      @@RexiRexx87 yes. I would highly recommend that. Usually employers will want to see a concentration in accounting. And also, choose corporate finance when picking a specific area of practice

    • @johnm145
      @johnm145 Před 10 měsíci +3

      as a finance major we only have to take financial and managerial accounting (first two accounting classes u can even take) don’t even have to take intermediate 1.

  • @vanshdubey7373
    @vanshdubey7373 Před dnem

    The most wonderful video on the topic loved it thanks!!!!

  • @barkat2404
    @barkat2404 Před rokem +4

    Very good questions! Great video👍🏻
    Greatings from Luxembourg 🇱🇺

  • @Nimbushaze
    @Nimbushaze Před 7 měsíci +18

    Got a bachelors in finance over a year ago and haven’t gotten a single job other than financial planning which is very dog eat dog, unstable, and hierarchical… switching career paths is probably the best option now

    • @kibbylol
      @kibbylol Před 6 měsíci

      where are you going to then?

    • @Nimbushaze
      @Nimbushaze Před 6 měsíci +2

      @@kibbylol going back to school for IT at WGU, major in cloud computing

    • @kibbylol
      @kibbylol Před 6 měsíci +1

      @@Nimbushaze good luck mate, hope it goes well for you

    • @Nimbushaze
      @Nimbushaze Před 6 měsíci +1

      @@kibbylol thanks man same to you

    • @faresmarzouk3742
      @faresmarzouk3742 Před 6 měsíci +1

      ​@@kibbylol if you get a bachelor in finance in a really prestigious school is it still hard to find a job? Is it worth it?

  • @pradeepbhatnagar4848
    @pradeepbhatnagar4848 Před 3 dny

    As a professional there is a vast scope of this field in my opinion.Vry.effective conversation.

  • @bosa7418
    @bosa7418 Před 2 dny

    Working as a business banker on Park Avenue in New York put everything into perspective. My book of business was full of your favorite investment bankers, analysts, hedge fund and private equity employees. They all told me the same thing. I hope to leave one day. Yes, the career path is very lucrative but the undeniable terrible work life balance isn’t worth it. Most of the guys in these fields are check box like people. Yes I got the house with a mortgage that’ll leave me in debt for the next 30 years. Yes I got the nice car, but at the end of the day they hate the job. My biggest clients that trusted me with their finances were sales guys and entrepreneurs. It’s what pushed me to start my two business. Pushed me to quit climbing the corporate ladder all at the age of 21. (Been in banking since I was 18 through an internship).

  • @shaunmc013
    @shaunmc013 Před 11 měsíci +5

    In regards to the “checking boxes” aspect of the conversation. I think timeframe was missing from that context. It’s not about checking boxes it’s people are ready to go to work and they don’t want to be in school for additional periods of time. Most jobs in finance and tech places more value on the bachelors and certificates. The bachelors the gold standard because it demonstrates your competence level. The certificate tells them you know something about what they’re doing. MBA’s are acceptable but primarily required if you’re Executive positions. But even then much more emphasis is placed on experience levels and certifications..

  • @CEO_Sis
    @CEO_Sis Před rokem +16

    Great conversation. I loved it ❤ made me feel Inspired to learn finance. I wish Dr. Adam could be my educator!

  • @user-dz7bv1hz5k
    @user-dz7bv1hz5k Před 11 měsíci +2

    Great video. Thank you. ACCA COMES WITH FINANCIAL MANAGEMENT..

  • @francisco-id9zg
    @francisco-id9zg Před 10 měsíci +1

    Great talk provided lots of value

  • @jonathan8096
    @jonathan8096 Před rokem +11

    Great Video. I understand the primary scope of this video was about a Finance degree, but I wanted to ask more about the MBA. Do you think it makes more sense to have a concentration in say something like Finance? Or rather dive into different topics, even when looking to have a career in Finance?
    Thanks

  • @janmoller8083
    @janmoller8083 Před rokem +7

    The check boxes stuff was deep and nice, cool interview

  • @ashleygraham3402
    @ashleygraham3402 Před rokem +2

    Thank you for this! Really great questions and discussion

  • @lionellinares2618
    @lionellinares2618 Před rokem +15

    Great video man! Considering going to school for finance this helped me get more insight ¡

  • @phoebenanaabenamensah6139
    @phoebenanaabenamensah6139 Před 10 měsíci

    Thank you so much this !

  • @davontawilliams3958
    @davontawilliams3958 Před rokem +4

    I agree the in person class is better compared to the online class unless unit related to my major or I have no interest in it then I will do online 😂.

  • @skhgendenjamts4715
    @skhgendenjamts4715 Před 5 měsíci

    Mind blowing conversations

  • @edgaraucapina5205
    @edgaraucapina5205 Před 10 měsíci +40

    I graduated last year in finance and it’s been very hard to get a full time and high paying job without experience. Planning to get my CFA this year and series 7 hopefully land in a better job position next year.

    • @user-cx1ty3hf3j
      @user-cx1ty3hf3j Před 10 měsíci +4

      Would you say the CFA is needed to land a job as a Financial Analyst?

    • @omarmadian4264
      @omarmadian4264 Před 10 měsíci

      @@user-cx1ty3hf3jit gives you an advantage and increases your chances of landing a job

    • @lilkidethan
      @lilkidethan Před 10 měsíci

      @@user-cx1ty3hf3j No

    • @bradybrandt9326
      @bradybrandt9326 Před 10 měsíci +6

      Yeah I agree, it took me 2 weeks to find a job after graduation. It took a long time!

    • @h.9089
      @h.9089 Před 10 měsíci +4

      Was it hard because of a lack of internships or opportunities? Or was it also GPA and minors that has to do with it?

  • @TheSilverBackStacker
    @TheSilverBackStacker Před rokem

    Great video. Thank you

    • @michaelmackelvie
      @michaelmackelvie  Před rokem

      Thank you! Appreciate it...have another convo with another prof coming out in a week or so...

  • @fraternallove4370
    @fraternallove4370 Před 10 měsíci +12

    Play at 1.75x speed.

  • @tube.brasil
    @tube.brasil Před 10 měsíci +1

    In a Brazilian perspective, you wil get nothing without a Finance BA. However, moving on, if you are being promoted and getting more responsibilities in your company, getting a MBA is a BIG mistake. It won't be recognized for it and in fact you will waste time.
    The exception is if your company is paying you to do it (very rare), if you come from a different area or if you want to get a job in the US (very risk bet).
    All those "short term" super expensive certifications paid by companies are there for their top executives who didn't get a MBA get something in their resumé in a couple of months.

  • @angejoyb
    @angejoyb Před rokem +1

    Great discussion!

  • @CustomerRelationsManager
    @CustomerRelationsManager Před měsícem +1

    An undergrad in Finance, Accounting or Economics would be good and save the Business Administration for the MBA......I took Business Administration as an undergrad and wound up repeating the same type of courses when I started working towards an MBA = I was bored to death and bailed! I took an accounting class in high school and got an A+ on the project that we were assigned to work on throughout the class!
    If I had to do it all over again: I'd do Finance with a minor in Economics and go work for Vanguard and get my CFP on the company dime!

  • @poni3367
    @poni3367 Před 17 dny +1

    Michael MacKelvie has been watching some Sundae Conversations🤝

  • @poemsoflove_
    @poemsoflove_ Před 5 měsíci +2

    if you go to a bad school major in accounting or double major
    if you go to a decent school do finance or econ

  • @sulavshrestha8316
    @sulavshrestha8316 Před rokem +2

    Great content.
    You seem to have been inspired by lex fridman.

  • @kenlandon6130
    @kenlandon6130 Před rokem +2

    27:09 but that logic also applies to tests. a poor kid may not have as much time to study for sat/act/gmat/gre or whatever else or spend $1000s on a prep course if they have to work a bunch of jobs and can barely afford college tuition. just as much as poverty may hurt their gpa it will hurt their exam scores. though on the whole i still agree that removing standardized testing is a bad idea.

    • @michaelmackelvie
      @michaelmackelvie  Před rokem +2

      Yes…the issue, as noted in your final line…what’s the alternative? Folks are quick to critique complex systems, but provide no legitimate alternative.

    • @kenlandon6130
      @kenlandon6130 Před rokem +2

      @@michaelmackelvie exactly. but my point with the comment was that there are better arguments to justify using standardized tests in admission than "poor kids have a better chance at doing well on them than getting a good gpa"

    • @paul.h.s
      @paul.h.s Před 21 dnem

      The problem isn't that poor kids don't have the time or resources to score well on a standardized test or even that the tests are not "inclusive" w/e that means. The problem is that if the student isn't motivated to learn, they will not do well.
      That motivation should initially come from the parents and then from fellow students in the form of wanting to keep up or compete. If your parents don't put much expectation on you, and then your peer group doesn't put much importance on excellence, then you will more than likely not excel yourself.

  • @JoeSmith-jd5zg
    @JoeSmith-jd5zg Před 7 měsíci +1

    @23:40 "we don't need this, this is discriminatory." Yes, it discriminates against people who are not college material.

  • @Babynate1000
    @Babynate1000 Před 8 měsíci +3

    I do not have a degree on finace and work for a one of the big three brokerages...it's all about getting your foot in the door and leanring the skills from there

    • @sarahfranco6802
      @sarahfranco6802 Před 6 měsíci

      How did you exactly do it?

    • @xianxiong3440
      @xianxiong3440 Před 5 měsíci

      @@sarahfranco6802 He knows someone that work for the big three brokerages, that's it. Going to school is optional now as long as you are learning somewhere.

    • @aena5995
      @aena5995 Před 4 měsíci

      i started a business data analytics degree but unfortunatey now idk if i should switch to business with a minor in business data analytics or a bs accouting finance with minor in business data analytics (can get exemptions for acca) can i go for data analytics roles with it ? :/ really didnt wanna switch but ugh

    • @Babynate1000
      @Babynate1000 Před 4 měsíci +1

      @sarahfranco6802 get a job in banking and get different financial certs and just learn while on the job. If you show the aptitude for the role you will get it

  • @user-kd2bz6zz3b
    @user-kd2bz6zz3b Před 7 měsíci +3

    I'm getting my MBA in Finance and Investment Management and graduating in December 2023. I am having a hard time finding a job in this economy. Would love to connect and get some advice on how to get a good job! thanks!

  • @tylerbrown4074
    @tylerbrown4074 Před měsícem

    The way I see an MBA now as I get older is it can make you a jack of all trades and yet master of none.

  • @jonyD143
    @jonyD143 Před 9 měsíci +10

    The problem with top paying Finance jobs today is that many of them look for people with an engineering and mathematical background. Honestly looking back I wish majored in engineering and mathematics. But I'm taking the approach to learning it on my own.

    • @ThePipojp
      @ThePipojp Před 6 měsíci +3

      Only quant roles really. No one cares about STEM background for IB or tradicional Research

    • @nycto16
      @nycto16 Před 6 měsíci

      STEM is useless lol science kiddos are dumb they don't even know the M of Money.

    • @McFlashh
      @McFlashh Před 4 měsíci

      @@nycto16 Elon, Gates, Bezos, Zuckerberg? All studied STEM.

    • @nycto16
      @nycto16 Před 4 měsíci

      @@McFlashh hahha don't speak sh*t without knowing.
      Elon studied Economics too
      Gates has no STEM degree :)
      Zuckerberg has no degree, and even when he was in Harvard he was majoring in Psychology :)

    • @nycto16
      @nycto16 Před 4 měsíci

      @@McFlashh how funny is, that you don't know facts and confidently saying "All studied STEM".

  • @utopia8177
    @utopia8177 Před 10 měsíci +1

    That Lex Friedman intro

  • @Lesicahyati97
    @Lesicahyati97 Před 10 měsíci +1

    Succes always project

  • @Aubatron
    @Aubatron Před 6 měsíci +2

    Business accountant, tax accountant, CPA are all valuable contributions to society. If you have a finance degree and are in the investment industry, you're essentially a useless leech. I think people are realizing this and I think there might be a cultural shift in the future. When the biggest hurdle you face is marketing your fund to bring in capital to charge a fee for sub-par results, you shouldn't have a fund at all. People looking to get into finance should stay away from the investment industry in my opinion. The average person knows very little about finances in general, and I doubt an AI will completely replace CPAs because people want to interact with a human, go over things and have things planned and explained to them. I think there will always be a demand for CPAs. Just don't push investment products that have a conflict of interest onto your clients.

  • @ebeneben5472
    @ebeneben5472 Před měsícem +5

    Man quit the meat ride. Know how you want to use the finance degree and why. If you are not into financial securities in any role man figure it out quick. My finance degree brought me nothing. I work entering invoices and data entry as a staff accountant. The title cool ig but I work with people who did not go to college or do not have a finance or business degree. Personally students who want to go for a finance degree should seriously talk to others outside of finance. You can learn finance outside of finance. Sorry if I sound negative but there is a disservice about business degree as a whole. I feel like finance has a flashy stigma and boy I got caught up looking at that and not looking at cons. Good interview tho.

  • @krisleverette
    @krisleverette Před 6 měsíci +1

    Got a MS in Finance in 2019… Still can’t get a finance job😢

  • @abdihafidabdullahi
    @abdihafidabdullahi Před 3 měsíci

    I know nothing about finance and accounting and am graduating with both soon...what would you advice me,should i be worried?or i would learn in the job ?i feel it would be very embarrassing for me 😢

  • @zachcosby2171
    @zachcosby2171 Před 4 měsíci

    Ok, but there is bias on the hiring side. For example, for big companies, it's easier to get in if you go to a big name, state school , and know the product they produce vs. a smaller school they dont know about. After that first job, I think it matters a whole lot.

  • @mlinganimatiwane
    @mlinganimatiwane Před rokem +1

    Yes please Lex Fridman ❤

  • @katarakooitse.1412
    @katarakooitse.1412 Před měsícem

    What would ypu recommend as a first degree between International Finance and Banking and Accounting and Finance degree?

  • @KB.Emmanuel
    @KB.Emmanuel Před 4 měsíci

    Can I still be a financial advisor/ client rep without a degree?
    however what if you passed your series 7 and 66?

  • @kokwahtan8577
    @kokwahtan8577 Před rokem +2

    ACCA COMES WITH FINANCIAL MANAGEMENT.

  • @smallbeans101
    @smallbeans101 Před 10 měsíci +2

    A lot of the smartest people in finance say a finance degree is a waste of money

  • @mattbogoshian4769
    @mattbogoshian4769 Před 10 měsíci +6

    I think what I am struggling with is the benefit of the MBA vs the cost of obtaining it. I’m currently in no debt and three years out of undergrad, and I’m not sure that taking that on is worth the experience. Even though if money wasn’t an option I would go for it, currently studying for the GRE

    • @Kevin-sr8yx
      @Kevin-sr8yx Před 10 měsíci +2

      Master's degree with no experience is a terrible combination. Work until you hit a ceiling, which won't be for a long time, then go for the MBA if your company wants it. Heck, they might even pay for it.

    • @denko44
      @denko44 Před 5 měsíci

      LSU Online/ Eastern / wgu are all very affordable options.

  • @janreichenbach265
    @janreichenbach265 Před 7 měsíci +4

    Finance = Common sense + high school math. If you understand the concept of time value of money, why there are little no risk-free excess returns available in capital markets (rarely is risk mispriced) and what a call or put option is, and can read a balance sheet, that's it.
    My feeling is some try to make things complicatd that are quite easy.

  • @iriya3227
    @iriya3227 Před 10 měsíci +6

    I did finance, Much rather have done tech. Finance is useless for starters.

    • @humanbeing8948
      @humanbeing8948 Před 10 měsíci +3

      Im going to apply at some trading firms before i graduate with my degree in finance. I think that's where the money is. They also use python heavily as well. Currently i'm in school for computer programming.

    • @ThePipojp
      @ThePipojp Před 6 měsíci

      No It's not if you want to get into high finance

    • @Frederick0220
      @Frederick0220 Před 3 měsíci

      How about FinTech? ;)

  • @jokerfam3331
    @jokerfam3331 Před 6 měsíci

    So im currently a construction worker looking to go into school for a double major in economics and finance, is this a bad idea since i won’t be able to do any internships since i will still be working full time in the demo world

    • @yashrng8066
      @yashrng8066 Před 4 měsíci

      Hey mate, try exploring the CFA.

  • @WatchWatchlist
    @WatchWatchlist Před 17 dny

    I'm really at the point where I tune out when I start hearing we need to get more women in X. I'm all for women's rights but man it gets out.

  • @mattmatt7998
    @mattmatt7998 Před rokem +3

    I'm a junior getting my finance degree. Almost done ✔️ 🙌 😊

    • @michaelmackelvie
      @michaelmackelvie  Před rokem +2

      Love that! Keep rollin...

    • @michaelmackelvie
      @michaelmackelvie  Před rokem +1

      Loads of opportunity on the other side...

    • @TunXAM-hw1nk
      @TunXAM-hw1nk Před 11 měsíci

      @@michaelmackelvie he is dead, probably cause starved to die can't even find a job in finance

  • @IL_Bgentyl
    @IL_Bgentyl Před 10 měsíci +2

    Huge survivorship bias here.
    College isn’t necessarily bad but the ROI has drastically reduced. Pick a good degree and network. That being said you can make comparable money never going and earn 4-6-8 years sooner

    • @aena5995
      @aena5995 Před 4 měsíci

      i started a business data analytics degree but unfortunatey now idk if i should switch to business with a minor in business data analytics or a bs accouting finance with minor in business data analytics (can get exemptions for acca) can i go for data analytics roles with it ? :/ really didnt wanna switch but ugh

  • @Blockchaindegenerate
    @Blockchaindegenerate Před měsícem

    What in the Lex Fridman was that intro😂?

  • @thevibe7415
    @thevibe7415 Před 4 měsíci

    What license do I need to
    roll over a 401(k) into a Roth IRA for other people?

  • @Anymonous246
    @Anymonous246 Před 16 dny +2

    Damn sell it like your 2nd mortgage depends on it Professor

  • @ajm12321
    @ajm12321 Před 10 měsíci +1

    I graduated with a bachelor’s in Finance and went on to work with a large investment firm and got licensed with FINRA. After 2 years, I quit to work in corporate finance as an analyst. Now, I am pursuing a Master’s in Business Analytics with a focus in Finance. Any chance this path would help me go into Algo trading or Quant?

    • @starburst1020
      @starburst1020 Před 9 měsíci

      quant firms want people with math/cs/physics degrees, not finance. not saying its impossible, but they recruit undergrads w these degrees primarily

    • @curiousgeorgia11.11
      @curiousgeorgia11.11 Před 9 měsíci

      @@starburst1020v true...the info he’s looking for is out there and they all say the same thing...might have missed his boat 😢

    • @aena5995
      @aena5995 Před 4 měsíci

      i started a business data analytics degree but unfortunatey now idk if i should switch to business with a minor in business data analytics or a bs accouting finance with minor in business data analytics (can get exemptions for acca) can i go for data analytics roles with it ? :/ really didnt wanna switch but ugh

    • @aena5995
      @aena5995 Před 4 měsíci

      @@starburst1020 i started a business data analytics degree but unfortunatey now idk if i should switch to business with a minor in business data analytics or a bs accouting finance with minor in business data analytics (can get exemptions for acca) can i go for data analytics roles with it ? :/ really didnt wanna switch but ugh

  • @Holy_Reich
    @Holy_Reich Před 10 měsíci

    I really do not understand the word inclusive.
    Inclusive is aginst merit ,r8?

  • @juicylyricstv1640
    @juicylyricstv1640 Před 10 měsíci

    what about Accounting?

  • @JarJarBinke1447
    @JarJarBinke1447 Před 9 měsíci +3

    Hi Michael! I am 16 years old and barely started my junior year of high school. I want major in finance, and I really want to learn more about it before making my decision final. I want to move states from Arizona to somewhere brand new that I’ve never been. Where should I start?

    • @auburnboi09
      @auburnboi09 Před 9 měsíci

      Honestly, your first two years in college will tell you most of what you want to know because you're taking mostly prerequisites and have a lot of time for growth. You're not really locked into anything until your junior year. If you like finance then just go for it. As far as different states, that will really depend on your internships. Apply to every internship you can, out of and in state, and worry more about the opportunities they can give, than their location.

    • @aena5995
      @aena5995 Před 4 měsíci

      @@auburnboi09 i started a business data analytics degree but unfortunatey now idk if i should switch to business with a minor in business data analytics or a bs accouting finance with minor in business data analytics (can get exemptions for acca) can i go for data analytics roles with it ? :/ really didnt wanna switch but ugh

    • @D4llast
      @D4llast Před 24 dny

      You dont have to switch. Lock in on data analytics, learn power bi, tableau, excel, sql, r, python. Be a god on those things. Make projects on github, not small ones either. Learn how to sell yourself. Apply for every internship possible during summers, the way the world is going... "enjoying your time" will be done after getting a job.

  • @weho_brian
    @weho_brian Před 10 měsíci +1

    i just learned how to code and have a six figure job, that is all

  • @diegoamores9295
    @diegoamores9295 Před 10 měsíci +1

    great podcast. Nevertheless, please dont copy lex at the beginning

  • @viditbatta2434
    @viditbatta2434 Před 10 měsíci +2

    Does anyone else feel any influence from the Lex Fridman podcast? Between the way he talks in the intro, the "Advice for Young People" at the end, idk

  • @jameshopham8539
    @jameshopham8539 Před měsícem

    Finance is not rigorous enough for the quant jobs requiring math/stats knowledge

  • @kevinschreder6372
    @kevinschreder6372 Před 7 měsíci

    I wish someone would do some similar for engineering. No one ever mentioned the different outcomes of engineering. Ie: sales, marketing, product management.

    • @nycto16
      @nycto16 Před 6 měsíci +2

      lol they are not engineering outcomes... sales, marketing, product management are for business grads.

    • @McFlashh
      @McFlashh Před 4 měsíci

      @@nycto16 Engineering is a versatile degree as it gives good problem solving and mathematical ability. That's why many CEOs studied engineering.

    • @nycto16
      @nycto16 Před 4 měsíci

      @@McFlashh Lol 65% CEOs studied business, and basically no one can become a CEO without studying business. Versatile? Business is the most versatile degree which gives real world problem solving skills and knowledge of how the whole world works.

    • @McFlashh
      @McFlashh Před 4 měsíci

      @@nycto16 First off, I believe anything can be learned without university however it's much harder to learn engineering without university compared to business. There's plenty of business books out there, you don't need to go university to study business.

    • @nycto16
      @nycto16 Před 4 měsíci

      @@McFlashh haha this shows how illiterate you are... studying business is extremely hard and university is necessary.. but yeah you don't need to go to university for engineering. Mechanics, electricians in-short trade school is better.

  • @bunbohue369
    @bunbohue369 Před 3 měsíci

    It's a degree for sale jobs. You want finance jobs study accounting.

  • @litovillar6027
    @litovillar6027 Před 10 měsíci +1

    It's problematic when "educators" try to incorporate their biases. I would be skeptical of their intention to "educate" or just simply want to indoctrinate people. True education tell about facts. And facts do not discriminate

  • @dollarbar1
    @dollarbar1 Před 5 měsíci

    I think it depends where your college is. The only finance jobs around my area were insurance salesmen, advisors, and some positions in analysis. I think you need to be in a financial district otherwise people will offer you jobs that don't require barely any brains.

  • @akray1153
    @akray1153 Před 6 měsíci

    So I guess pursuing CPA is valuable afterall

  • @florianwimmer20
    @florianwimmer20 Před 28 dny

    18:58 But what about AGI or AI?

  • @tolgahdur
    @tolgahdur Před 9 měsíci

    I have a computer science and finance degree. Haven’t gotten any value of my finance degree yet as I work as a software engineer but maybe in the future?

    • @curiousgeorgia11.11
      @curiousgeorgia11.11 Před 9 měsíci

      Don’t let the knowledge go to waste

    • @tolgahdur
      @tolgahdur Před 9 měsíci

      @@curiousgeorgia11.11how can i combine both degrees tho

    • @hungrygamer7717
      @hungrygamer7717 Před 9 měsíci

      @@tolgahdur Fintech

    • @judgementcl
      @judgementcl Před 5 měsíci

      ​@tolgahdur fintech is an emerging market, and with that skillset, im sure you could find something in that realm.

    • @aena5995
      @aena5995 Před 4 měsíci

      @@judgementcl i started a business data analytics degree but unfortunatey now idk if i should switch to business with a minor in business data analytics or a bs accouting finance with minor in business data analytics (can get exemptions for acca) can i go for data analytics roles with it ? :/ really didnt wanna switch but ugh

  • @laughoutmeow
    @laughoutmeow Před 10 měsíci

    I have a math degree is that generally better than finance degree for the same sort of jobs?

    • @curiousgeorgia11.11
      @curiousgeorgia11.11 Před 9 měsíci

      Not really

    • @MaximizeMichael
      @MaximizeMichael Před 5 měsíci

      Math is abstract, engineering is applied math, however if you have a bachelor in math it’s still very good to teach you math thinking. More importantly you are in a good position to do a graduate degree in computer science or related

  • @edgarsalakhutdinov7715
    @edgarsalakhutdinov7715 Před 9 měsíci

    What is this Lex Friedman style intro lol

  • @princesavage2234
    @princesavage2234 Před rokem +6

    check boxes everyone is just looking for a high paying job.

  • @danhall5761
    @danhall5761 Před 10 měsíci +1

    I had 0 higher education but make 150k+ in my finance job

  • @nopenope1769
    @nopenope1769 Před měsícem

    Off shoring to India* is replacing American analysts

  • @sergioyepez9650
    @sergioyepez9650 Před 9 měsíci

    Or just get an accounting and Finance degree

  • @houstonian17
    @houstonian17 Před rokem +1

    I strongly disagree on the standard testing discussion.

    • @katydid5088
      @katydid5088 Před rokem

      Why and how?

    • @willwill4769
      @willwill4769 Před 10 měsíci +1

      @@katydid5088standardized tests are not culturally biased. Non-language based tests (pattern based or numerical) have the exact same disparities.

    • @Frederick0220
      @Frederick0220 Před 3 měsíci

      Bingo @@willwill4769

  • @SuperSlavonski
    @SuperSlavonski Před 10 měsíci

    It's not worth it. Better to be a plumber, electrician or tiler.