Everywhere I go, parents and students ask me for advice about choosing a major. When you say private banking, do you mean for example, the private wealth management arm of JPMorgan, or do you mean advising HNW clients at a retail Chase branch? So I would definitely advise to go the finance route. So is it useless or not? Economics is not a useless major: Best Undergrad College Degrees By Salary and if you've noticed most "economics" programs are not strictly "economics" as in the theoretical social science. What it demonstrated was that skill development, not your undergraduate major or the college you choose, is most critical to your earnings potential. I’m finishing my finance degree this spring and have accepted a commercial banking offer. If you enjoy it and thrive, then a career will follow. Students majoring in business spend less time studying than anyone else on campus, according to the National Survey of Student Engagement. Even so, Carnevale warns students who pick their majors solely on the basis of the expected paycheck not to count their money too quickly. I do agree that tech, and therefore data analysis, is changing at a fast pace. I don't want to be an Investment Banker as I'd like to do commercial and eventually private banking. While you should consider different majors, and you should keep your options open for a while, don’t think you can do anything you want or have all the time in the world to make a decision. Some graduates apply their majors to their careers more than others, and some not at all. Please help I'm pretty discouraged and depressed at this point. However, a lot of the things I'm seeing on the Internet seem to be saying that a finance degree is useless unless you're already rich and parents have connections. Talent and drive matters to success in most majors. The belief that any degree is useless clearly shows the bias and lack of consideration from whoever you’ve heard from. However, I think accountancy will always be a prominent profession. There is certainly demand in the job market for talented accounting majors. Jeffrey Selingo is author of the new book, There Is Life After College. So to help you get a taste of what kind of compensation you can expect, let’s take a closer look at some of the median annual salaries of five common finance positions in 2016: 1. Culinary arts. They also earn less … You can’t easily test-drive a major (unless you plan to stay in college for many more than four years). The academic fields that make up undergraduate business—finance, accounting, marketing, management, and general business—account for about one out of every five bachelor’s degrees awarded each year. A general business major, like business administration, is pretty useless. However, I do attend a top 30 university with very strong recruiting. It's more a minimum requirement to be considered for an interview. They also spend less time reading and writing than other majors. The longer they have been in the workforce, the less likely it is that they are in a career directly related to their college major. Culinary Arts. An MBA in Finance degree is worthwhile as you will become familiar with fundamental business principles like accounting, commercial and investing banking, market analysis, and economics that are essential to the operation of just about any commercial enterprise. Finance degrees have always been worthless. Those are the business majors to focus on. Don't listen to everyanything you see on the internet! Ultimately the major you choose is less important than your performance and what you take out of it. That’s certainly the case for some. level 1 “I majored in business marketing,” she told me, “because everyone said it would lead to a job after graduation.”. Ask anyone working today if they knew exactly what they wanted to do with their lives at age 18, and they will probably say they had no idea (if they’re being honest). I don’t think you need to have rich parents or connections. Whether it’s 2017, whether it’s 2014, or whether it was 2009 or 2004. And if you’re majoring in business and think the undergraduate degree doesn’t matter anyway because you’re going to business school, remember this: business students score lowest of all majors on the GMAT, the entrance exam for most M.B.A. programs. I'm definitely an advocate of pursuing what you enjoy; if that's banking and finance, great! You will just have to be very persistent and on top of the job process. She was in her mid-twenties and unemployed despite applying for dozens of jobs and taking on several unpaid internships. But not all business majors are created equal in the job market. Mid-career salary: $58,800. Annual online job postings: 5,474.
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