Employment prospects in the Finance industry. (1 Viewer)

[galaxys2000]

Hey guys,

I was recently talking to a mate whos been working at Goldman Sachs for 2 years now, and something he said was incredibly interesting to me; Investment Banks & Financial Service Companies are increasingly hiring graduates with STEM related degrees over the traditional commerce & commerce/law graduates. The rationale being that many of these STEM graduates have developed analytical & technical skills during their degree which will aid in transitioning towards a finance related job. [Eg. Bachelors of Information Systems/Advance science/Computer Engineering]. Can anyone currently working in the finance industry validate this statement?

The reason I ask if that UAC Applications are going out soon, and I was originally looking at perhaps doing Com/law at UNSW, but with this new information, I'm possibly thinking of doing Com/Sci instead. ATAR is not an issue for these courses, but moreso the employment prospects in the finance industry as graduates. (I also don't mind going into some sort of analyst role either).

[Side Note] Is it worth it to accept a cadetship with an accounting firm, work there for 2-3years, and then transition into a finance related role? Thats the other path I see myself perhaps going towards, but that being said, I've already rejected a cadetship offer because I believe working full time straight out of high school will be too demanding, and that I also want to focus on other aspects of my life/career.

[Side Note 2] Does anyone with experience know the career path towards a portfolio manager? Eg. What relevant industry experience you need and how long does it take?

Thank you in advance.

 

[Amundies]

To your second point, don't worry about it that much. Also depends if you want to work on buy or sell-side. Focus on getting into what you want first.

BTW, if you're just aiming for IB/MC/Corporate Finance, just do a straight Commerce degree and smash it. You don't need an additional degree if you don't see the 'need' of doing it. If you want to work in areas of trading, a mathematical bg helps (comp. sci/econometrics etc.)

I agree with si2136, focus first on getting into what you want first before thinking about how to become a PM. That said I don't really understand it when people ask what the path is to becoming a PM. If you work in the buyside, you get promotions (just like every other industry), one of which is a promotion to a PM role.

Will have to slightly disagree with the "just do a straight comm degree" though. If you do a double degree (like engg/comm) you spend more time in uni, which gives you more time to build up a resume and get into exactly what you want. With a straight comm degree, if you dont get an internship where you want between 2nd and 3rd year, you don't have any "backup" years to try again. So while you don't strictly need an extra degree, I've found it to be quite useful.

 

[DJYeetz]

should I do double degree economics/commerce at UNSW if i want to become a investment banker?
P.S What other career options will these degrees give you plus what are the advantages of having a economics degree.

 

[pistachioman]

Work at the Sydney exchange square. ASX or SSX?

basically you will be living the lifestyle of DiCaprio in 'The Wolf Of Wall Street'. The Australian dream.

jusjoks

 

[pistachioman]

Im just curious blyatman on why you did your engineering degrees in the USA?

 

[boat460]

If you're into prop trading a STEM background with a heavy emphasis on maths is required.