Why are DCUM parents less inclined to have their child major in business?

[Anonymous]

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Anonymous wrote:dcum always recommends CS and Engineering as degrees with best employment but I recruit finance undergrad and it is a decent major.

I don't really see the difference between DCUM promoting econ majors and finance degrees. They overwhelmingly go to the same careers.

That’s not really true. Econ and Finance majors from top schools may end up in IB and consulting, but you will find more Finance majors working for F500 companies either in trainee programs or going into financial planning & analysis or treasury functions. Econ majors aren’t usually hired for these roles.

Statistically, you have far more Econ majors pursuing graduate work vs finance majors as well (and interestingly, you have Math and Econ majors pursuing finance PhDs in higher numbers than finance undergrads).

I don't necessarily see the difference, other than you just saying econ majors aren't hired. From DC's recent cohort, quite a few are going to Apple after going into their Financial Developer program, and a ton participate in those trainee programs for financial planning and many of those jobs list "Finance, Financial Economics, Econ,..." as acceptable degrees. Sure, many went into IB or Consulting, but most end up in typical financial positions that you would get from a decent finance program. Of course, more people are going into Econ grad school-there's more economics to do out in the academic world, and if your goal is to work for the Fed or some prime-time international NPO, grad programs place well into them. The math majors going into finance want to be quants, not really surprising to me.

From what school? You have to go beyond the Top 50 to understand the difference for an Econ major vs a Finance major and career paths.

Actually…there is plenty of grad school work for Finance PhDs but schools have a hard time getting people to pursue those PhDs…that is why a finance PhD comes with a generous stipend and it is one of the few academic areas with lots of tenure-track jobs.

I don't see why. The type of students to get into a Finance PhD program are top students. The type of students to get into a good finance development program are from top schools overwhelmingly (in the case of Apple, they take a few "local" students at Santa Clara University for DEI). If you have the chops to get into a good finance career, you typically come from the top 50 or 100 colleges.
DC attended CMC.

Well…it depends a ton if you have an Econ or finance degree from CMC vs a finance or Econ degree from say University of Alabama. The finance majors probably have an easier time getting a job in the Coca Cola management trainee program vs the Econ majors…or a real world example, getting a job in the Capital One trainee program.

CMC doesn't have a finance undergrad program. I'm not sure about Capital one specifically, but most finance development programs do list econ as a sought-after background. Would you really want to design a finance program that excludes Harvard econ grads for example? If you have any prominence, you'll definitely be getting applications from top colleges, so it wouldn't really help to close those students off with a finance major requirement.

CMC has a combined BA/MA in finance that is completed in 4 years. CMC is a relatively big Wall Street feeder because it has a Finance degree.

Most CMC students are not taking up the BA/MA. It's maybe 10-15 students per class of 200 econ majors on average. CMC did well without finance for a long time adn got lucky to graduate "K" and "R" of KKR. There's few econ schools better than it in SoCal, so it's easy to step into Moelis.

OK…but it’s literally called the Robert Day School of Economics and Finance.

With multiple degrees such as Economics-Accounting and Financial Economics…these don’t sound like pure Economics degrees.

[Anonymous]

There are only a handful of universities with well regarded undergraduate business schools - Penn, MIT, Berkeley, Michigan, Cornell, Notre Dame, Georgetown, Indiana, NYU, USC, UVA, and WashU. Studying at those business programs will be perfectly acceptable for your average DCUM reader. At other T30 colleges without undergraduate business schools, people tend to major in economics if interested in corporate/finance/banking/consulting careers. Also acceptable.

Majoring in Business Administration or similar at State U or at a school not mentioned above still has a stigma however. Traditionally, it's not where you find the best and brightest. Such students are generally regarded as shallow, boring, uninteresting, and incurious. Fair or not, those students are not taken seriously. And a business admin degree from a non-elite school is regarded about the same as a certificate from the community college. You hire them to complete basic tasks, not to lead or manage. Someone that studied business at Wharton or Stern is going to have very different career outcomes than someone who studied business at Towson St.

[Anonymous]

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Anonymous wrote:dcum always recommends CS and Engineering as degrees with best employment but I recruit finance undergrad and it is a decent major.

I don't really see the difference between DCUM promoting econ majors and finance degrees. They overwhelmingly go to the same careers.

That’s not really true. Econ and Finance majors from top schools may end up in IB and consulting, but you will find more Finance majors working for F500 companies either in trainee programs or going into financial planning & analysis or treasury functions. Econ majors aren’t usually hired for these roles.

Statistically, you have far more Econ majors pursuing graduate work vs finance majors as well (and interestingly, you have Math and Econ majors pursuing finance PhDs in higher numbers than finance undergrads).

I don't necessarily see the difference, other than you just saying econ majors aren't hired. From DC's recent cohort, quite a few are going to Apple after going into their Financial Developer program, and a ton participate in those trainee programs for financial planning and many of those jobs list "Finance, Financial Economics, Econ,..." as acceptable degrees. Sure, many went into IB or Consulting, but most end up in typical financial positions that you would get from a decent finance program. Of course, more people are going into Econ grad school-there's more economics to do out in the academic world, and if your goal is to work for the Fed or some prime-time international NPO, grad programs place well into them. The math majors going into finance want to be quants, not really surprising to me.

From what school? You have to go beyond the Top 50 to understand the difference for an Econ major vs a Finance major and career paths.

Actually…there is plenty of grad school work for Finance PhDs but schools have a hard time getting people to pursue those PhDs…that is why a finance PhD comes with a generous stipend and it is one of the few academic areas with lots of tenure-track jobs.

I don't see why. The type of students to get into a Finance PhD program are top students. The type of students to get into a good finance development program are from top schools overwhelmingly (in the case of Apple, they take a few "local" students at Santa Clara University for DEI). If you have the chops to get into a good finance career, you typically come from the top 50 or 100 colleges.
DC attended CMC.

Well…it depends a ton if you have an Econ or finance degree from CMC vs a finance or Econ degree from say University of Alabama. The finance majors probably have an easier time getting a job in the Coca Cola management trainee program vs the Econ majors…or a real world example, getting a job in the Capital One trainee program.

CMC doesn't have a finance undergrad program. I'm not sure about Capital one specifically, but most finance development programs do list econ as a sought-after background. Would you really want to design a finance program that excludes Harvard econ grads for example? If you have any prominence, you'll definitely be getting applications from top colleges, so it wouldn't really help to close those students off with a finance major requirement.

CMC has a combined BA/MA in finance that is completed in 4 years. CMC is a relatively big Wall Street feeder because it has a Finance degree.

Most CMC students are not taking up the BA/MA. It's maybe 10-15 students per class of 200 econ majors on average. CMC did well without finance for a long time adn got lucky to graduate "K" and "R" of KKR. There's few econ schools better than it in SoCal, so it's easy to step into Moelis.

OK…but it’s literally called the Robert Day School of Economics and Finance.

That has really nothing to do with the conversation. We can go into CMC-Roberts history, but it's not the finance that propelled them. It's the econ. It's an econ liberal arts college.

Well, it does when you reference CMC and claim that kids are just studying economics…when it’s clear many are taking far more practical business courses as part of their Economics degrees.

[Anonymous]

Anonymous wrote:There are only a handful of universities with well regarded undergraduate business schools - Penn, MIT, Berkeley, Michigan, Cornell, Notre Dame, Georgetown, Indiana, NYU, USC, UVA, and WashU. Studying at those business programs will be perfectly acceptable for your average DCUM reader. At other T30 colleges without undergraduate business schools, people tend to major in economics if interested in corporate/finance/banking/consulting careers. Also acceptable.

Majoring in Business Administration or similar at State U or at a school not mentioned above still has a stigma however. Traditionally, it's not where you find the best and brightest. Such students are generally regarded as shallow, boring, uninteresting, and incurious. Fair or not, those students are not taken seriously. And a business admin degree from a non-elite school is regarded about the same as a certificate from the community college. You hire them to complete basic tasks, not to lead or manage. Someone that studied business at Wharton or Stern is going to have very different career outcomes than someone who studied business at Towson St.

It’s actually only around 10 national universities in the top 50 that don’t have an undergraduate business school/undergraduate finance option.

I think we all agree that getting a generic business administration degree is not worth it…though one could also argue getting a communications degree at these schools is also a waste of college. There are many degrees that fit the bill.

[Anonymous]

Anonymous wrote:There are only a handful of universities with well regarded undergraduate business schools - Penn, MIT, Berkeley, Michigan, Cornell, Notre Dame, Georgetown, Indiana, NYU, USC, UVA, and WashU. Studying at those business programs will be perfectly acceptable for your average DCUM reader. At other T30 colleges without undergraduate business schools, people tend to major in economics if interested in corporate/finance/banking/consulting careers. Also acceptable.

Majoring in Business Administration or similar at State U or at a school not mentioned above still has a stigma however. Traditionally, it's not where you find the best and brightest. Such students are generally regarded as shallow, boring, uninteresting, and incurious. Fair or not, those students are not taken seriously. And a business admin degree from a non-elite school is regarded about the same as a certificate from the community college. You hire them to complete basic tasks, not to lead or manage. Someone that studied business at Wharton or Stern is going to have very different career outcomes than someone who studied business at Towson St.

Harsh but true

[Anonymous]

Why is undergrad business not valued on DCUM?
Because “Smart is the new Rich”: having your DC become a Doctor or Engineer or Lawyer is considered better than undergrad business, unless that business degree is from Wharton, MIT, Cornell and a couple of others where the name proves the smart part. I am not saying I agree, but that is the reality, DCUM and every other high-wealth UMC area .

[Anonymous]

I haven't read the whole thread, but "have their child major in..."? These are young adults and they're the ones selecting the major.

[Anonymous]

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Anonymous wrote:Many good schools don’t even have undergrad business degrees.

This. Think about that.

Schools for wealthy people who get their jobs through parents’ social connections.

[Anonymous]

Anonymous wrote:There are only a handful of universities with well regarded undergraduate business schools - Penn, MIT, Berkeley, Michigan, Cornell, Notre Dame, Georgetown, Indiana, NYU, USC, UVA, and WashU. Studying at those business programs will be perfectly acceptable for your average DCUM reader. At other T30 colleges without undergraduate business schools, people tend to major in economics if interested in corporate/finance/banking/consulting careers. Also acceptable.

Majoring in Business Administration or similar at State U or at a school not mentioned above still has a stigma however. Traditionally, it's not where you find the best and brightest. Such students are generally regarded as shallow, boring, uninteresting, and incurious. Fair or not, those students are not taken seriously. And a business admin degree from a non-elite school is regarded about the same as a certificate from the community college. You hire them to complete basic tasks, not to lead or manage. Someone that studied business at Wharton or Stern is going to have very different career outcomes than someone who studied business at Towson St.

That argument applies to every major. Elite schools are attractive to elite employers.

[Anonymous]

LOL. I'm sure everyone wants their philosophy kid to complete a forensic accounting investigation when your firm's livelihood is on the line?

You're all idiots. Intelligent people don't skew their opinions of a major based on ONE person they know who couldn't get a job.

[Anonymous]

Anonymous wrote:Business is a safe major and pretty much guarantees a well paid job after college and lucrative career options afterwards

The young adults now who majored in business or attended an undergraduate business program are thriving post college. Some are in PE others are in investment banking or in finance teams at Fortune 500 companies.

Because everyone on DCUM is a lawyer or married one. That’s DC.

[Anonymous]

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Anonymous wrote:As always, people still living in the 80s are clueless.

https://www.cbsnews.com/news/college-major-highest-lowest-incomes/

https://www.cbsnews.com/news/college-major-highest-lowest-incomes/

https://www.cbsnews.com/news/college-major-highest-lowest-incomes/

Business analytics, Finance, MIS, Accounting are all under Business program.

That's why in general, business program is harder to get in and more competitive.

You know, there does exist a general "business major" that will accept anybody. When I say I don't want my child to major in business, I mean I don't want them to major in business. That does not mean I don't want them to pick a major under the business program, like accounting or finance.

dp.. the way it general works is you are a business major, then pick a track, like accounting or finance. Most colleges don't have a "finance" major. It's within the business major.

This.

[Anonymous]

Anonymous wrote:There are only a handful of universities with well regarded undergraduate business schools - Penn, MIT, Berkeley, Michigan, Cornell, Notre Dame, Georgetown, Indiana, NYU, USC, UVA, and WashU. Studying at those business programs will be perfectly acceptable for your average DCUM reader. At other T30 colleges without undergraduate business schools, people tend to major in economics if interested in corporate/finance/banking/consulting careers. Also acceptable.

Majoring in Business Administration or similar at State U or at a school not mentioned above still has a stigma however. Traditionally, it's not where you find the best and brightest. Such students are generally regarded as shallow, boring, uninteresting, and incurious. Fair or not, those students are not taken seriously. And a business admin degree from a non-elite school is regarded about the same as a certificate from the community college. You hire them to complete basic tasks, not to lead or manage. Someone that studied business at Wharton or Stern is going to have very different career outcomes than someone who studied business at Towson St.

You all just say anything. Whether necessary or not, a “business degree” is often listed as a requirement for many corporate entry level jobs. I know because I see it at my own Fortune 100 employer. Could a history major learn the same skills necessary to be successful in the role - absolutely. But having taken basic accounting, finance, Econ courses goes a step further in getting your foot in the door. And once you’ve proven yourself, no one cares where you attended undergrad.

[Anonymous]

Anonymous wrote:It’s not a major for academically smart kids.

So academically smart kids become academics? That’s cool.

I hope the students agree with the decisions made by their parents otherwise they will be in a job where they are miserable.

One of my daughters chose a BFA. At $60,000 a year after subtracting scholarship money it was expensive but she’s happy. I wouldn’t even consider choosing her major for her.

If your child wants to major in business let them.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It’s not a major for academically smart kids.

So academically smart kids become academics? That’s cool.

I hope the students agree with the decisions made by their parents otherwise they will be in a job where they are miserable.

One of my daughters chose a BFA. At $60,000 a year after subtracting scholarship money it was expensive but she’s happy. I wouldn’t even consider choosing her major for her.

If your child wants to major in business let them.

Surely you can agree that there's some stable ground between a BBA and a PHD?