Funds Management (1 Viewer)

[aricho]

hey everyone
i really want to work in funds management, or investment banking after school.

i currently do 4u maths, 4u english economics and business.

i am applying for all the traineeships, and will hopefully be doing a commerce degree majoring in accounting.

im just wondering however, after a conversation with a friends dad, weather this is the right way to go about getting into the 'front office,' (i.e. being a trader)

any help would be a great help
thanks!

 

[UWS-Uni-Student]

Most IB'ers have a Double Degree in Law and either Commerce, Finance, Accounting or Economics

 

[Vagabond]

From what I've heard honours students have good chances for ib etc. also.

From what I've seen a big part of it is who you know etc. these places have lots of positions they don't even bother advertising.

 

[UWS-Uni-Student]

From what I've heard honours students have good chances for ib etc. also.

From what I've seen a big part of it is who you know etc. these places have lots of positions they don't even bother advertising.

Very true, if Hedge Funds are essentially the same thing.

 

[Rorix]

A number of comments.

1) You should do a major in finance (or double major of course). Because when you go to your ibanking interview, they won't ask you why you didn't do a finance major.

2) The front office consists of a number of positions. I don't know what you want to do, you mention ibanking, you mention funds management and you mention trading! ibanking and funds management has some overlap but those trading and those two are definately two different things all together.

3) I doubt that the big banks would have positions that aren't advertised at the graduate level. Networking helps you get an interview and get through the interviews though...

4) From what I know, honours students have a good chance. A pure BCom no honours is pretty poor though..

5) In relation to UWS' mention of hedge funds, I'm not sure what he/she is trying to say. Hedge funds are so varied in operation that its impossible to make blanket statements. But I can say that a hedge fund involves with equity (exc. arbitrage funds) is not going to hire a straight graduate with no banking/consultancy etc. experience except in exceptional circumstances. If you want to work as a quant you might get a job...but that's a different thing.

But really, there's no point worrying about all this when you haven't even been to uni yet. Just do your BCom combined or with honours (finc major recommended by me), and keep networking (you might be able to get a winternship or an unpaid position at a HF etc., depending on who you know.. which will boost your CV).

 

[turtleface]

A number of comments.

1) You should do a major in finance (or double major of course). Because when you go to your ibanking interview, they won't ask you why you didn't do a finance major.

I don't know if I have interpreted what you have said properly, but I think a Finance major is useless. IBanks aren't looking for Finance majors more so than any other degree. I don't know anyone who's gotten into proper Corporate Finance Investment Banking with a Finance Major by itself.

I am not trolling, but in my opinion a Finance BCom is about as useful as a Management BCom. Finance is like a skill and industry, not a bloody profession. Its about as useful as a degree in Mining, or a degree in Retail. That is, it is just an industry.

Thats my opinion, and I believe I am correct until someone can contradict me by answering this question: What job can you not get into without a Finance degree?
Thats right, nothing.

 

[phrred]

but it still helps.
im guessing your saying a finance major isnt relevant for practical use but is management or marketing? u dont have to have a mgmt major or a marketing major to become one of those positions but it helps
the only really useful courses are in accounting for CA/CPA

 

[Rorix]

I don't know if I have interpreted what you have said properly, but I think a Finance major is useless. IBanks aren't looking for Finance majors more so than any other degree. I don't know anyone who's gotten into proper Corporate Finance Investment Banking with a Finance Major by itself.

Hey tf. I disagree with much of your logic re your pro accounting/hating on finance posts, but its not necessarily to go into that now.

The reason I recommended he undertake a finance major is that it shows interest in finance. Is finance so hard that you can't learn it without studying it at uni? Of course not, IB finance is fucking basic (and uni finance too) [and you get training anyway].

Same with any other university subject (at least Commerce)..I don't think theres a single field in Commerce that you wouldn't be able to self-teach to the level required to show enough skill to get the job of your choice. [Although that's not to say some bum could get the job..a uni degree is obviously a prereq, just that the major is not important]

Only subjects where you actually need to complete the required courses are subjects where you need to get further certification to be respected, and uni is a requirement of that e.g. CA/CPA. So although accounting is easy, I couldn't get a good accounting job without an accounting major since I need the qualification

But if he doesn't do a finance major, then when he goes to the interview and says he loves finance, he'll get asked "why didn't you do a finance major?".