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Double-major or Major with Minor

post #1 of 11
Thread Starter 
I'm a 20 year-old Junior slated to graduate in December 2012 (3 1/2 years total). I'll be receiving a BA in Finance with a minor in Economics. My dilemma is whether to stick with this plan, which is easily attainable with overlap from business pre-requisites and economics, or just scrap the minor and go with a double-major in Finance/Economics. I've noticed that people here have stated that minors don't help much when seeking a job, so I'm wondering if a minor in Economics is worth it. I'd have to add a semester if I switch to a double-major, but I'd still be out in four years. Academic burden wouldn't be an issue for me.

Ultimately my question would be is a minor in Economics enough, or do I need to get the double-major for it to be worth anything? I've chatted with my advisor, but sometimes they can be disconnected from how things ultimately work.

I'm not particularly sure what I'll attempt to do with my career, so I'm sorry for aspirations not being able to help with suggestions. I knew I wanted something business-related, and I had an excellent Finance professor with whom I now work. This kind of solidified my choice.

Thanks in advance for the suggestions.
post #2 of 11
I don't think it really matters. Finance and economics (as majors) are largely interchangable in the job market. I don't think you gain much from having both, either as a major or a minor.
post #3 of 11
The overlap is significant enough that you can treat them as essentially one degree
post #4 of 11
Quote:
Originally Posted by tullytra View Post
I'm a 20 year-old Junior slated to graduate in December 2012 (3 1/2 years total). I'll be receiving a BA in Finance with a minor in Economics. My dilemma is whether to stick with this plan, which is easily attainable with overlap from business pre-requisites and economics, or just scrap the minor and go with a double-major in Finance/Economics. I've noticed that people here have stated that minors don't help much when seeking a job, so I'm wondering if a minor in Economics is worth it. I'd have to add a semester if I switch to a double-major, but I'd still be out in four years. Academic burden wouldn't be an issue for me.

Ultimately my question would be is a minor in Economics enough, or do I need to get the double-major for it to be worth anything? I've chatted with my advisor, but sometimes they can be disconnected from how things ultimately work.

I'm not particularly sure what I'll attempt to do with my career, so I'm sorry for aspirations not being able to help with suggestions. I knew I wanted something business-related, and I had an excellent Finance professor with whom I now work. This kind of solidified my choice.

Thanks in advance for the suggestions.

Take the extra classes so you can stay in school longer. There's no rush entering a job market that's pretty thin at this point and school is the best time of your life.
post #5 of 11
Quote:
Originally Posted by yfarmanara View Post
Take the extra classes so you can stay in school longer. There's no rush entering a job market that's pretty thin at this point and school is the best time of your life.

I'd take a double major instead of a minor. What do you plan to do after college?
post #6 of 11
Really no sense in double majoring - I mean go for it if you're not paying, otherwise no. Business fields overlap so much (I have friends who hold econ degrees working in finance, marketing, etc; another friend of mine has a finance degree, and she works management). The extra time would be better spent gaining experience working or pursuing a master's degree.
post #7 of 11
Thread Starter 
Quote:
Originally Posted by dragon8 View Post
What do you plan to do after college?

I'd like to work as an industry research or stock analyst, preferably for a small firm where I could have some interaction with, and learn from, people who are running the firm. My university doesn't have a stellar track record of sending graduates to Wall Street, so I'm just looking to get some relevant work experience for a few years before I go somewhere (but not just anywhere) to get a MBA. I know this is pretty broad, but at this point my career goals aren't too set.
post #8 of 11
I got a question: Is the degree a "double major" (sometimes called a combined degree) or do you get both degree's? ie: When you graduate, do they give you two sheet's of paper, one with "finance" another with "economics" or do they give you one piece of paper that says "econ and finance". Issue with the "one piece of paper" .. is "combined degree" programs usually involve taking fewer upper-level courses. In this case, I say it's a waste of time. Pick whichever you prefer, econ/finance, and get into the 300-400 level courses as quickly as you can and take as many of them as you can. I'm about to enter your "industry research/analyst" job market, and lots of analyst jobs I've seen posted .. look for "Finance, Economics, Computer Science, or Mathematics/Statistics" degree's, and some experience with "Matlab, or SAS". In this market .. I don't know how much value having both Finance/Economics are, as they are fairly inter-changable. I think doing Finance/Math, or Finance/CompSci is much more value. Does you're university offer a "Financial Math" degree? In Finance/Economics, you don't get the exposure to the computer side of analysis at the undergrad level that you would with a Financial Math degree. I would have loved to do some work with MatLab in undergrad. I'm currently using it to do my Econ MA Thesis, and it's A LOT of fun.
post #9 of 11
Thread Starter 
Quote:
Originally Posted by imschatz View Post
Is the degree a "double major" (sometimes called a combined degree) or do you get both degree's?

Does you're university offer a "Financial Math" degree?

I believe two sheets as it is described as a Dual Degree in Finance and Economics, but I may be mistaken.

The university doesn't offer a Financial Math degree, but they offer an Actuarial Science minor which encompasses financial math and higher forms of derivatives.
post #10 of 11
Quote:
Originally Posted by tullytra View Post
I believe two sheets as it is described as a Dual Degree in Finance and Economics, but I may be mistaken.

The university doesn't offer a Financial Math degree, but they offer an Actuarial Science minor which encompasses financial math and higher forms of derivatives.
My undergrad university required an additional 10 courses to get two degree's. So instead of 4 years, it'd take 5 years to get two degree's - regardless of the overlap. I had taken all the courses for both a math, and economics degree, except for one math class (abstract algebra) I dropped when I found out they wouldn't give me two sheets of paper until I completed another 10 classes.

As long as the Actuarial Science minor doesn't involve too many "actuary" classes (insurance models), and more mathematical finance (theory of interest, stochastic calculus, econometric modelling) classes .. I'd seriously look into that.
post #11 of 11
I'd say only get the double if there is a BS in econ available that requires a bunch of math and stats. As others have implied, make sure you come out knowing how to program in different stats packages. The BS can be a signal to employers. Otherwise, just get more math under your belt along with your Finance major/Econ minor and then talk up the math and stats background you have acquired.

If you wanted to go into academia, which I did, my answer might be different (maybe).

b
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