Major for IBD or HF?
Hi,
Recently, I've started to look at college majors. I keep hearing about how quant majors are good for IB, but a few posts indicated that quants are recruited more for HFs than for IBD/M&A.
I'm good at math, but not PhD type brilliant, so I'm quite sure I won't cut it at a quant HF. Besides, I hear quants are more like back-office people (i.e. they have no profit/loss responsibility, number crunchers etc.) I have to say that IBD and deal-making look far more attractive.
What major would be appropriate for IBD/M&A at a BB? Would Columbia's operations research or financial engineering be too quant for that? Or would a math/stat/econ/polisci liberal arts background be more helpful?
Thanks.
M&A or anything else in IBD doesn't require quant ability. Requires arithmetic, basic computer skills, and comfort with numbers. If you're set on IBD then you don't have to bother yourself with taking a very quantitative major (unless you want to).
Any major would be fine. If you're going to Columbia then the joint Econ-Poli Sci major looks nice, but it doesn't really matter too much.
My MD studied religion and art.
If you pursue a major that is unmistakenly rigorous and still perform well, you may earn yourself a slight edge (example: Chemical Engineering). Maybe throw in a couple of finance-related courses to show interest if your school offers them -- if not, don't sweat it.
There is not doubt, to me at least, that math is the best overall major for any career path, obviously some other classes for certain future jobs will be needed such as bio and chem for a future doctor. Math teaches you logic and keeps you on your toes, but if you are lazy or not good enough it is in no way a prerequisite for IBD, like the above poster said I know guys who studied english and work at BB.
I chose applied math as one of my concentrations. Tbroker, your points are definitely valid. I've seen interviewers state outright that they appreciate the frequent problem sets and regular no-room-for-BS exams that come with studying math (this would apply to other technical/analytical disciplines).
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