right arrow
Examples: Monday, today, last week, Mar 26, 3/26/04
We have changed the way we log in on College Confidential. Read more here.

"Want a Wall Street Job? Start Preparing Now"

betterday55betterday55 1340 replies125 threads Senior Member
edited May 2007 in Business Major
Very interesting
http://www.thestreet.com/funds/managerstoolbox/1122099.html


I'm suprised he said applicants should be noncreative. I've always thought businessmen need to be pretty creative.

Not caring? I found another WSJ saying that for a good CEO to be good, he/she has to be creative AND caring (to employees).

What's your opinion?
edited May 2007
26 replies
Post edited by betterday55 on
· Reply · Share
«1

Replies to: "Want a Wall Street Job? Start Preparing Now"

  • irishbluesirishblues 232 replies16 threads Junior Member
    Good for me.

    I have a question though. I have heard a lot of people saying that Math and Law degrees look better than a specialized degree (e.g. economics, finance, accounting ...). Is this true?

    I plan on double majoring in Math and either Finance or Economics. But would a law degree or a science/engineering degree be better?
    · Reply · Share
  • aquamarineeaquamarinee 2977 replies51 threads Senior Member
    I found it interesting that he stated that economics or business majors specialize too soon. They seem to recruit pretty heavily from these majors...
    · Reply · Share
  • redhare317redhare317 1393 replies56 threads Senior Member
    Economics should NOT be considered a "specialized degree." It's actually more broad than you would think. A law degree is not necessary for Wall Street. Plus, it takes 3 more years.

    There is no advantage of engineering/science over math (esp. math + econ), unless you're applying for a technical position as an engineer of course.
    · Reply · Share
  • betterday55betterday55 1340 replies125 threads Senior Member
    sooo.... what this guy's saying is not that credible?
    · Reply · Share
  • aquamarineeaquamarinee 2977 replies51 threads Senior Member
    Any other opinions?
    · Reply · Share
  • irishbluesirishblues 232 replies16 threads Junior Member
    Do jobs still look at your SATs?
    · Reply · Share
  • barronsbarrons 23069 replies1955 threads Senior Member
    What he was really saying is that if you went to an Ivy type school you need not major in business.
    · Reply · Share
  • aquamarineeaquamarinee 2977 replies51 threads Senior Member
    That actually makes me feel better. Somewhat. Atleast I can happily pursue both a science major and perhaps econ/business major now. I think... unless what the writer's saying isn't necessarily true.
    · Reply · Share
  • tonerangertoneranger 3671 replies52 threads Senior Member
    Most of what he writes is very true...
    I can confirm that Morgan Stanley does NOT look for compassionate or creative types for IB jobs. The individuals they like tend to be assertive, confident, quick, and VERY smart. Plus they thrive under pressure and don't mind long hours. Workaholic types are welcome. It's true that you don't need a business degree. What he's not quite clear about is the role of the target school. If you go to a target school (Ivy, MIT + Stanford), you really don't need to worry about your major. Those who go to non-targets have very little chance - they cherry pick and might take one or two per year from the big stage Us and publics. And those are pretty amazing kids...
    Regarding using SATs, I think some banks may do this. They also ask strange questions like " Why is a manhole cover round?"
    Some of this is to see if you can think on your feet - and it's also a test of how you respond to pressure.
    The interview process IS brutal - and so are the jobs. After a while, as an interviewer, you get a feel for who will do well and who will not. There's a profile. If you don't fit it, it's probably best that you didn't get the job.
    · Reply · Share
  • Sheed30Sheed30 12334 replies91 threads Senior Member
    irishblues

    yes they sadly do...
    · Reply · Share
  • aquamarineeaquamarinee 2977 replies51 threads Senior Member
    That's pretty interesting. Any idea what their cut-off is? I wonder if their cut-off is like a 2300/2400, in which case I need to keep re-taking until I get that score (just kidding).
    · Reply · Share
  • redhare317redhare317 1393 replies56 threads Senior Member
    Some consulting firms require that you put SAT scores on your resume. I don't know about IB.
    · Reply · Share
  • Mr PayneMr Payne 8818 replies32 threads Senior Member
    No new info found.
    · Reply · Share
  • SweetLax88SweetLax88 293 replies15 threads Member
    This is just one guy's opinion. IMO, a load of bullock (except the workaholic part).
    · Reply · Share
  • foxdie!foxdie! 757 replies75 threads Member
    I think what he's saying is that finance/accounting/econ degrees won't give you as much of an advantage as you think. But for non-targets I would say it's VERY advisable to study something that is immeadiately applicable. They won't want to deal with a science major who knows nothing about fundamental finance concepts.
    · Reply · Share
  • Mr PayneMr Payne 8818 replies32 threads Senior Member
    Disagree. A science major might be the only way to prove your IQ.
    · Reply · Share
  • aquamarineeaquamarinee 2977 replies51 threads Senior Member
    so... science/engineering major + business/econ major [therefore, a double major] would be ideal then?
    · Reply · Share
  • red sox 7327red sox 7327 742 replies23 threads Member
    no, don't do that. If your going to double major then you need to do it in subjects that jive well, like math and physics (unless you want to stay 5 years or really put a lot of pressure on yourself --- If your school doesn't have a core then it might be a little more conceivable). Majoring in a science and econ would require you to take a ton of required courses. Now, you could minor in one of those or just take electives that match your banking interests, but double majoring is not likely going to push you over the top for such jobs.
    · Reply · Share
  • TheMK99TheMK99 980 replies39 threads Member
    Disregard Mr. payne, he is an engineering ****. If you like engineering/math/science etc. than go for it, but don't think you need those majors to make Wall Street.
    · Reply · Share
  • foxdie!foxdie! 757 replies75 threads Member
    I disagree Mr. Payne. But in the end it also depends on what field within investment banks one is vying for. Corp fin/advisory has many history majors for example.


    For non-targets they need to study applicable majors such and finance and economics. Science from non-targets would only work if the person in exceptional. Remember there are also plenty of scientific majors from top schools with high IQs.
    · Reply · Share
This discussion has been closed.

Recent Activity