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strong majors @ stern

supervillainsupervillain 59 replies11 threads Junior Member
edited February 2005 in New York University
hi,

i know stern is overall an excellent business program, but are there any majors that are stronger / more developed than others? thanks

-rohan
edited February 2005
18 replies
Post edited by supervillain on
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Replies to: strong majors @ stern

  • jwbluejwblue 1016 replies12 threads Senior Member
    One word: FINANCE

    Finance is the king of Stern departments by far, akin to econ. at U of C or engineering at Cal Tech. If you are going to attend Stern, you should very seriously consider majoring in finance (most people there do, and some double, but finance is almost always there). Come to think of it, in my 4 years at NYU, I'm don't even think I met a Stern student who didn't have a finance as a major.
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  • redhare317redhare317 1393 replies56 threads Senior Member
    Are there any qualities you need for finance (i.e. math skills, speaking, reading, writing, etc.), or is it pretty much in-school training? How about using finance on the job. What kind of qualities do you need?
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  • jwbluejwblue 1016 replies12 threads Senior Member
    Basically you have to be comfortable working with numbers and with mathematical concepts on a theoretical level. The math is algebraic, and rarely includes calc. unless you are doing something very complicated. You can either learn finance on the job or major in it...its not that tough in my opinion.
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  • albywalbyalbywalby 195 replies18 threads Junior Member
    cool. what about international business? And jwblue, are there any class requirements or anything? How do you like Stern overall? Any quips or comments?
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  • jwbluejwblue 1016 replies12 threads Senior Member
    Alby,

    IB is also a pretty stong program from what I hear. I'm unsure as to the exact requirements, check with the school and the dept.

    I graduated from CAS, not Stern. However, since I work in finance, I do know some of the skill sets needed in that field....hence I answered the previous question.
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  • mattistotlemattistotle 1686 replies57 threads Senior Member
    jw is it possible get 100k straight out of ugrad in business?
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  • jwbluejwblue 1016 replies12 threads Senior Member
    Matt,

    $100K first year out of undergrad is very rare but possible. I can tell you for a fact no base salary on wall st. is going to be that high for someone who just finished college (even if you're from NYU or another good school). However, you can make that much with a nice bonus in i-banking or if you become a propeitary trader (be in securities, currencies or commodities) and do really well.
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  • mattistotlemattistotle 1686 replies57 threads Senior Member
    i was reading the paper the other day and they said the average wall street salary was $5700 a week, and average bonus was $100k, thats crazy! :)
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  • jwbluejwblue 1016 replies12 threads Senior Member
    Those figures might be true, but not for someone their first year out of undergrad...sorry Matt, you've got to earn your wings first...:).

    Also, keep in mind, that an average can skewed by extremes. People at the top make ridiculous amounts of money and have bonuses the size of a small country's gdp.

    Though in general, people on the street tend to be paid well.
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  • albywalbyalbywalby 195 replies18 threads Junior Member
    jw I assume you work on Wall Street? And another question, how did you end up in finance if you went to CAS? Sorry about asking about Stern. I didn't know you didn't attend! =)
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  • jwbluejwblue 1016 replies12 threads Senior Member
    Yes I do work in finance. I ended up in it because thats what I wanted to do. Wall st. firms recruit from a wide variety of majors at NYU, not just the business school. Investment banks also tend to like athletes (I played soccer at NYU).

    I have plenty of friends who went to Stern, so I know a bit about it as far general questions are concerned....so ask away.
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  • mattistotlemattistotle 1686 replies57 threads Senior Member
    how are your friends from stern doing career wise?
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  • jwbluejwblue 1016 replies12 threads Senior Member
    Matt,

    Though I was in CAS, I had a lot of friends in Stern, including 2 roommates. I also met many more Stern people (and NYU grads in general) when I became an investment banker right out of college..

    Basically, my friends who were in Stern run the gamut. There are those who like me work in finance/banking. The places they work are large banks, boutiques, hedge funds, and private equity firms. Some have started their own business. One friend of mine currently runs his family's business, a large jewelry company worth millions. I know a few in grad school or thinking about it (Stern people mostly tend to go to B-school for an MBA...but there are some who go for other types of degrees). I even had one friend from Stern who went into the Peace Corps. So in general, its a pretty varied bunch.
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  • mattistotlemattistotle 1686 replies57 threads Senior Member
    are they making good money? im going to have alot of loans so i figured id ask lol
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  • jwbluejwblue 1016 replies12 threads Senior Member
    Lol, yes Matt most are making lotsa moohlah.
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  • mattistotlemattistotle 1686 replies57 threads Senior Member
    how much is alot lol, over 100k? i wanna buy a porsche for my 10 year high shcool reunion, that is my goal in life
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  • jwbluejwblue 1016 replies12 threads Senior Member
    Matt,

    It all depends on what you decide to do for a career. Incomes of my NYU friends range from very paltry for those who decided to do public service type stuff to about $2 million a year for one of my suitemates who became a successful energy trader on the NYMEX. Plenty of people who graduated with me are making over 100K right now (I graduated NYU in 2000--avg. NYU starting salary is around 40 something K, probably around 50K for Stern whose graduates on average pursue corporate jobs at higher rates). However, you really should keep in mind that 100K while indeed awesome, is not an extraordinary sum of money in Manhattan..you may still have to rent and can't even buy your own pad in the city at 100K a year (I bought my own place last year...you don't even want to know how much it was for a place its size..it will probably make you hurl). The amount of money you make out of NYU will basically be determined by the career path you choose to take and subsequent decisions on such (eg do you try to move up, switch careers, or go to grad school).

    At your 10 year HS reunion, you'll be 6 years out of NYU, and if you decide to work on wall st., stick it out, and do well..you probably should be able to buy that Porsche. You're a smart kid, aim for bigger goals in life.....
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  • redhare317redhare317 1393 replies56 threads Senior Member
    What kind of work would I be able to do at an investment bank except investment banking? Is I-banking the only good reason to work for an I-bank, or are there other worthy career choices at these firms as well?
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