Field of Study Profile | College Scorecard says:
| Major | Median earnings |
|---|---|
| Economics | $96,927 |
| Finance | $131,515 |
Finance is the highest earning business major listed for SMU in College Scorecard.
2 Likes
I wonder how many of the Econ majors go on for PhDâs vs the Finance majors who go right out into the job market.
2 Likes
It is all well and good to look at career outcomes, but Iâd focus on what path is best for YOUR success. You should play to your individual strenghts and interests. Would YOU thrive on a more theoretical path (economics), a more analytical path (ex. finance, data analysis), etc.?
3 Likes
Not sure. I donât have enough direct experience to know whether both of those play the same or one is better than the other.
We seem to be in an era where the âplug and playâ business admin major who has a fundamental understanding of the basic financial statements and related matters are valued over the classic âsmart but we have to teach you everythingâ kids, at least it relates to the non-elites.
Personally, I really respect the econ degree, particularly where the student has gone heavy on econometrics. I also think that there are still a few âlighterâ tracks in the business schools. Finance isnât one of those, and Iâm sure there are things you wind up studying in the higher level finance classes that you donât typically pick up in a classic economics course of study.
Iâd say if your son has a real focused end goal in mind, dig into the stats from SMU, maybe the career center, to see where those econ kids wind up. I think econ is an incredibly useful and flexible degree. Since I suspect a lot of SMUâs placement success is based on relationships and networks, there is likely a âtypeâ that they pull out of there for certain things. They should be able to tell you about that type.
During my time at UW, the business school made the most sense for the accounting kids. Even now, I donât think Foster is a big feeder into the banks, so IMHO the reason to be in the business school there is accounting. But SMU, as we discussed, is placing kids into banking, so thereâs more to think about there.
ETA: the limitation with the median earnings data posted above, as @Bill_Marsh points out, is that you donât know how many of the econ kids wind up, by choice, going into academia or government, which of course doesnât pay anywhere near banking. Econ kids also go into (again by choice) economic consulting (e.g., Charles River Associates), which I donât think necessarily pays as well as banking on the front end, but later on as a partner the pay really picks up.
2 Likes
How about if kid would thrive more in sales/charisma path and likes the finance world? Trading/Markets, traditional asset mangement?
Thanks! SMU has a Econ/Finance major with a potential business minor in addition to the Cox Finance major. That was my question.
Hi! S is retaking consideration after finishing finals. He asked me to ask you what would a UMiami âdefinite fitâ would look like. He chose his current school because he wasnât sure about business and his school is an LAC with a business major, and he is a varsity athlete. The main challenges are social: complete lack of social connectivity or life outside of team (coach does not allow or leave time for intramurals or many other meaningful activities), overall very liberal drinking and substance culture (reinforced by lax supervision and penalties) in a very small school in a fairly rural location and unwillingness to pursue Greek life in view of hazing recent stories and history. There are further details but they would violate confidentiality. He did not expect any of those realities going in, and they clash with his values. He likes his profs/admin and the business/econ academics, and his varsity team, but seems to have nothing else there.
1 Like
He should arrange a visit to U Miami if heâs never seen it- and within two hours heâll know if heâs part of their âfitâ or not. Itâs too hard to tease out the relevant elements from what youâve posted- I recognize you are respecting his privacy. But it wonât take him long to suss out whatâs relevant to him in terms of social life, etc.
5 Likes
In addition to blossomâs excellent points, he should join a transfer student instagram page or wherever the transfers are communicating (ask admissions if he canât find the group.) Connecting with other accepted transfers will help him know if his peeps are there. If he hasnât done a transfer virtual admission session he should.
2 Likes
Thanks. Following a transfers account on Instagram will be visible to all his followers, so not viable prior to having committed to leave, which he has not done by any means yet.
I get it. If he does a transfer session, the students typically are exchanging instagram handles real time because they are all feeling pressure to find roommates and find off-campus housing (on campus housing is not guaranteed for transfers and I expect long gone.) Itâs late to find off campus housing, perhaps @michaelcollege can add some insights.
This could be the school motto for UMiami.
1 Like
I had asked a couple clarifying questions earlier in the post, and I do not think @gablesdad wanted to share. On the other hand, he can still PM me and I will answer any question. I know a lot about the program as does my daughter. He should look up Bermont Carlin as a starting point IMO.
delete