Anonymous wrote:Any info on starting salaries for Econ majors and Business school grads?

I know that our firm offers $75,000 for new hires out of U.

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Anonymous wrote:I thought you need post graduate degree in Econ to get any entry level analyst job

We (economists) have jobs for kids with bachelors. Research assistants generally earn a masters degree within a few years, part time at night.

If your kids want a good job with an Econ degree, they should take plenty of math.

Econ majors from top 10 schools are getting their masters degrees part-time at night?

Yup. While they have day jobs as research assistants at top research agencies and think tanks. Then in a few years they go off for PhDs.

What part-time programs are they doing? This is in NYC?

Johns Hopkins around here

And then NY for PhD? Don’t they want to end up in the NY area?

No, why would they prefer to be in NYC?

Columbia and NYU are very good for economics but typically people would pick the two top Boston Schools (Harvard/MIT) over them.

I'm pretty sure there has never been and never will be a Clark Medal winner from a part-time economics program. You go to Columbia if Joe Stiglitz wants you as a grad student. PhD decisions are driven by the individual faculty you will be working with, not the ranking of the program.

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Anonymous wrote:I thought you need post graduate degree in Econ to get any entry level analyst job

We (economists) have jobs for kids with bachelors. Research assistants generally earn a masters degree within a few years, part time at night.

If your kids want a good job with an Econ degree, they should take plenty of math.

Econ majors from top 10 schools are getting their masters degrees part-time at night?

Yup. While they have day jobs as research assistants at top research agencies and think tanks. Then in a few years they go off for PhDs.

What part-time programs are they doing? This is in NYC?

Johns Hopkins around here

And then NY for PhD? Don’t they want to end up in the NY area?

No, why would they prefer to be in NYC?

Columbia and NYU are very good for economics but typically people would pick the two top Boston Schools (Harvard/MIT) over them.

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Anonymous wrote:I thought you need post graduate degree in Econ to get any entry level analyst job

We (economists) have jobs for kids with bachelors. Research assistants generally earn a masters degree within a few years, part time at night.

If your kids want a good job with an Econ degree, they should take plenty of math.

Econ majors from top 10 schools are getting their masters degrees part-time at night?

Yup. While they have day jobs as research assistants at top research agencies and think tanks. Then in a few years they go off for PhDs.

What part-time programs are they doing? This is in NYC?

Johns Hopkins around here

And then NY for PhD? Don’t they want to end up in the NY area?

Why would you want to be in NYC for your PhD? It's expensive to live there and the very best schools are not in NYC.

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Anonymous wrote:I thought you need post graduate degree in Econ to get any entry level analyst job

No, all the investment banks have 2 year analyst programs for kids coming straight from college. Total compensation - including salary, signing bonus, and annual bonus - about $150k for north of 100 hours/week. If they do well, they get sponsored to get their MBA afterwards and get hired back as associates. Some econ majors choose consulting at McKinsey/Bain, some get pulled into private equity. 10-20% at the top programs push on to academia.

Is the total compensation package at a top consulting firm comparable to those at IB firms? Are those jobs also a 100 hour work week?

No, compensation is lower.

The hours are very bad though not quite as bad as M and A but the difference is at McKinsey/Bain you will spend a lot of hours on-site and in transit (traveling in planes, rental cars, etc.). You often don't have a real desk at your home office, just a hoteling spot. A lot of these travel assignments are to where businesses have offices or headquarters, which is often random company towns so it's not all glamour. When you're fresh out of college, the flights are usually economy class, too.

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Anonymous wrote:I thought you need post graduate degree in Econ to get any entry level analyst job

We (economists) have jobs for kids with bachelors. Research assistants generally earn a masters degree within a few years, part time at night.

If your kids want a good job with an Econ degree, they should take plenty of math.

Econ majors from top 10 schools are getting their masters degrees part-time at night?

Yup. While they have day jobs as research assistants at top research agencies and think tanks. Then in a few years they go off for PhDs.

What part-time programs are they doing? This is in NYC?

Johns Hopkins around here

And then NY for PhD? Don’t they want to end up in the NY area?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I thought you need post graduate degree in Econ to get any entry level analyst job

We (economists) have jobs for kids with bachelors. Research assistants generally earn a masters degree within a few years, part time at night.

If your kids want a good job with an Econ degree, they should take plenty of math.

what math is important?
my Econ major ds has to take calc, two semesters of stat, and an econometrics course. Is that considered plenty of math?

That’s considered the minimum.

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Anonymous wrote:I thought you need post graduate degree in Econ to get any entry level analyst job

We (economists) have jobs for kids with bachelors. Research assistants generally earn a masters degree within a few years, part time at night.

If your kids want a good job with an Econ degree, they should take plenty of math.

Econ majors from top 10 schools are getting their masters degrees part-time at night?

Yup. While they have day jobs as research assistants at top research agencies and think tanks. Then in a few years they go off for PhDs.

What part-time programs are they doing? This is in NYC?

Johns Hopkins around here

Anonymous wrote:

Anonymous wrote:I thought you need post graduate degree in Econ to get any entry level analyst job

No, all the investment banks have 2 year analyst programs for kids coming straight from college. Total compensation - including salary, signing bonus, and annual bonus - about $150k for north of 100 hours/week. If they do well, they get sponsored to get their MBA afterwards and get hired back as associates. Some econ majors choose consulting at McKinsey/Bain, some get pulled into private equity. 10-20% at the top programs push on to academia.

That's not true, especially at schools where there is no business or finance major and therefore the Econ department is huge as it includes the business/finance types. There are also a lot of people joint majoring with other things, especially government, who are leaning toward law and public policy as career paths.

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Anonymous wrote:

Anonymous wrote:I thought you need post graduate degree in Econ to get any entry level analyst job

We (economists) have jobs for kids with bachelors. Research assistants generally earn a masters degree within a few years, part time at night.

If your kids want a good job with an Econ degree, they should take plenty of math.

Econ majors from top 10 schools are getting their masters degrees part-time at night?

Yup. While they have day jobs as research assistants at top research agencies and think tanks. Then in a few years they go off for PhDs.

What part-time programs are they doing? This is in NYC?

Anonymous wrote:

Anonymous wrote:I thought you need post graduate degree in Econ to get any entry level analyst job

No, all the investment banks have 2 year analyst programs for kids coming straight from college. Total compensation - including salary, signing bonus, and annual bonus - about $150k for north of 100 hours/week. If they do well, they get sponsored to get their MBA afterwards and get hired back as associates. Some econ majors choose consulting at McKinsey/Bain, some get pulled into private equity. 10-20% at the top programs push on to academia.

Is the total compensation package at a top consulting firm comparable to those at IB firms? Are those jobs also a 100 hour work week?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I thought you need post graduate degree in Econ to get any entry level analyst job

We (economists) have jobs for kids with bachelors. Research assistants generally earn a masters degree within a few years, part time at night.

If your kids want a good job with an Econ degree, they should take plenty of math.

Econ majors from top 10 schools are getting their masters degrees part-time at night?

Yup. While they have day jobs as research assistants at top research agencies and think tanks. Then in a few years they go off for PhDs.

Anonymous wrote:

what math is important?
my Econ major ds has to take calc, two semesters of stat, and an econometrics course. Is that considered plenty of math?

Get linear algebra in there as well as real (calc-based) statistics and your kid will be much better prepared.

Anonymous wrote: 10-20% at the top programs push on to academia.

Not a chance in hell this is true. The biggest producers of Econ PhDs on a per capital basis are LACs. There is no way that even 10% of my school's Econ majors get PhDs.

Ivy Econ majors highly sought after by consulting firms and Wall Street. Lots of offers. Even next summer internships already accepted for juniors and sophomores.