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Would it be smart for me to double major in Finance and Information Systems, and get a Master's in Entrepreneurship?

#finance #college-major #business #major #techonolgy #future #career #entrepreneurship #college

As our society becomes more digitalized, I want to make sure that I have a good chance of being successful in the future.

business college-major finance major entrepreneurship future techonolgy
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Heidi’s Answer

Great question, Finance and Information Systems in my opinion would be a good combination. I work in IT and spend time preparing project budgets as well as financial forecasts.
Thank you comment icon Did you go to school for finance?; or do you just happen to work with finances at your job? Aniya
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Erin’s Answer

The focus on data and IT systems in business is booming these days! I think a combination of Finance and Information Systems would be really helpful in the current landscape. There is a lot of work being done around data and using the data to help make decisions in business.
Thank you comment icon Yep, I thought so. Thanks for your answer. Aniya
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Sachin’s Answer

Hi Aniya,
I would recommend you to punctuate your education with work experience. Regarding your entrepreneurship journey, the following hold true:
1. The earlier you start, the better.
2. You don't need to do a masters in Entrepreneurship to start your own company.

To be an entrepreneur, doing is more important than a certificate or degree. You can start your own venture while studying or even while working after studying. You can gain valuable experience along the way and then do a masters if you think it'll be helpful.

To guide your entrepreneurial journey, you can think about doing some inexpensive online courses such as:
https://www.coursera.org/specializations/wharton-entrepreneurship
https://www.coursera.org/learn/uva-darden-design-thinking-innovation
https://www.coursera.org/specializations/business-entrepreneurship

If you want a certificate, you can think about these. The certificates "might" help you if you want to become an intra-preneur within a corporation:
https://online.stanford.edu/programs/stanford-innovation-and-entrepreneurship-certificate
https://www.sbs.ox.ac.uk/programmes/oxford-strategic-innovation-programme


One good online degree in Innovation and Entrepreneurship that comes to my mind is:
https://www.coursera.org/degrees/omie

Do get in touch if you wish to discuss more. Wishing you all the best!
Thank you comment icon Thanks for your ideas. I checked Coursera, and they are allowing college students to enroll in courses for free for a period of time. I guess due to Covid-19. I enrolled in a couple of course since I have the time. Aniya
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Chris’s Answer

Great question and answers so far! Finance and Info Systems is a powerful combination. IS professionals with solid financial and business acumen can add tremendous value to an organization whether it be running IS as a business or partnering with their stakeholders to help drive business value. Business professionals that understand how to leverage processes and technology to drive strategy to enhance customer experience and employee engagement and accelerate profitable growth are also able to create great careers.

Make the most of your projects and internships. See what you like - and don't like. Assemble a broad skill set - take on challenges others shy away from and learn! Stay current in technology. Leverage student groups and industry associations to network. Masters is a good idea - maybe after gaining some initial work experience - balancing what you learn through your roles and what you learn in school.

Most of all - have fun! Good luck on your journey!
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John’s Answer

This combination of undergraduate degrees is an excellent choice and sets you up to go in multiple business directions. Regarding you Masters degree, I would need to better understand what you would like for a career to better guide you on whether that specific on is the best for you.
Thank you comment icon I agree with your statements. I have a couple more years before I have to worry about graduate school, so I'll make my final decision later. Aniya
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Zed’s Answer

Great question. IT & Finance is definitely one area that is the hotbed for innovative startups now. I would suggest that you get into work experience whilst getting academic support in parallel, though I wouldn't think a masters is necessary. However it completely depends on your individual situation. Suggest you search up Fintechs. An article outlining FinTech can be found here: https://www.businessstudent.com/degrees/financial-technology-degree/

Zed recommends the following next steps:

Research Fintechs
An article outlining FinTech can be found here: https://www.businessstudent.com/degrees/financial-technology-degree/
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Scott’s Answer

I think that's a great idea if those are your areas of interest. But I also know that going straight to a Masters program isn't always the best course--as an earlier comment noted, gaining work experience before a Masters program is typically the most recommended approach that I'm aware of, and will help you focus on what your interests are for taking your next step.

As far as IT work goes, it sounds like you have broad interests, which will always serve you well (a former colleague in IT was a developer when I met him, but he had a Masters in Biology--he used his broad knowledge to ultimately become an attorney focusing on Intellectual Property--what an excellent background for that work!). The more breadth you have, the more options you have.

If internship options are available, definitely pursue them--you may find your passion, or quickly rule out things you find don't suit you well.
Thank you comment icon I'm do have my heart set on double majoring. I have a couple more years before I have to worry about graduate school, so I may change my mind later in life. I'm taking an Entrepreneurship Course on Coursera right now, so hopefully, that goes well. Aniya
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John’s Answer

Aniya,

Solid question. I have considered the same in the past and decided to minimize my focus area to just Information Systems (BS/BS-IT) and am actually enrolling in a Master's in Entrepreneurship myself here in July. Once it becomes available at my school. I bailed on finance just for the fact that I genuinely enjoyed the equations, the knowledge, and the inner workings of assets vs liabilities and liquidation and profitability ratios, but I just did not see myself opening a business and managing my own finances or managing someone else's. This is my own personal reason that may hit home for you as well. I stayed with IT just in case I wanted a fall back and IT is always going to be there. There is no escaping it.

I would recommend a single major just for the sake of honing in on one area vice spreading yourself thin and learning multiple aspects.
Thank you comment icon Yeah, I was thinking the same thing because I know career-wise double-majoring will give me some type of an edge, and overall I have knowledge in more than one field. But at the same time, I won't be able to prioritize in one major and may miss out on the full emersion of one major. Thanks for your answer and I hope that you get your Masters. Aniya
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Philip’s Answer

Hi Aniya,

I would say you're definitely on the right track, especially if you can handle the work load of a double major, as other responders have mentioned. I also believe that Information Systems is an ideal compliment to Finance as technology is now so integrated into the Finance field and tech skills are in high demand in every industry.

Unfortunately, I'm not that familiar enough to comment on the Master's in Entrepreneurship part of your question as this is a relatively new focus area in the academic world. Just on the surface, it would seem that an Entrepreneur mindset would be of high value in any organization. I'd be interested to know the reason your are considering a Master's in Entrepreneurship and the advantage you believe it will provide?

I hope this helps and I wish you all the best in your future endeavors!
Thank you comment icon I’m considering getting a Master’s in Entrepreneurship because I want to start a business one day. I don’t want to major in Businesses Administration, so I figure that’s the next best thing. Ps I'm still in High school. I'm in a program where I can earn my Associates by the time I graduate. Aniya
Thank you comment icon That's great that you’re earning college credits in High School, really smart to get ahead and saving funds by completing your bachelors degree sooner. Regarding the Master’s in Entrepreneurship, you have time to do more research on the path and I would suggest that you do. Possibly find someone (preferably more than one) that has graduated with the degree and get their input on the value. My initial thought would be that the best way to start a business is to have start-up money, finding a good business lawyer and of course by having a great idea. If the main goal for pursing the Entrepreneurship degree is to start a business then I would suggest weighing the value of the degree versus using the same funds to apply towards a business. See the Entrepreneur Podcast called "This is Success". Philip Masiewicz
Thank you comment icon Thanks for your advice. I know how important mentors are when it comes to business, and I will try to find one. I just enrolled in an Entrepreneurship course, so hopefully, that will help me. I will be checking out that Podcast. Aniya
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Zed’s Answer

Great question. IT & Finance is definitely one area that is the hotbed for innovative startups now. I would suggest that you get into work experience whilst getting academic support in parallel, though I wouldn't think a masters is necessary. However it completely depends on your individual situation. Suggest you search up Fintechs.

Zed recommends the following next steps:

Research Fintechs
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Rachel’s Answer

Hi Aniya, I double majored in MIS and Finance. Upon graduating college, I chose a career path as a software developer. Fast forward almost 20 yrs later, I'm working for Visa. While I'm on the business side, my background in technology definitely helps in my daily work. If I could give advise to you, I would target financial industry companies and leverage your technical background. For example, look for software developer roles at banks, fintechs, payment networks, etc. I didn't start my career path in the finance industry and once senior, it's difficult to break into. Good Luck!
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Rita’s Answer

My son is also considering this question for his degrees. His math professor actually gave him the advise to do a double major and graduate with a BS in Mathematics and a BS in Economics. If you can handle the course load with doing the work for 2 degrees simultaneously this will really give you an edge above everyone else graduating with only one degree. Graduate schools also compete for ambitious smart students to attend their graduate schools so this would be a good way to get their attention and possible get some type of scholarship as well. Be confident you are on the right track. Good luck.
Thank you comment icon Yeah, I want to double major because for two reasons. First, to have an edge when it comes to my future career ( Same for graduate school) and second, to gain more knowledge in more than one field. Aniya
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Jay’s Answer

This would be a great and versatile career choice as your services will always be in demand regardless of the economy especially with technology growing at an exponential rate.
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Sandra’s Answer

Hi Aniya - This was actually my major in college! It was called "Business Information Management" but I think the more widely used terminology is "Management Information Systems". Some schools offer this hybrid major so you wouldn't have to double major in business and technology separately. With that said, when the time comes for you to pick a school or a major, it would be good to take a closer look at what their hybrid curriculum entails. You should be looking for a blend of business-focused classes and Information Science/Computer Science-focused classes. Even though the CS classes were challenging, I'm glad that I stuck with it because I think it gave me a technical edge over my Business Admin peers.

In terms of the Master in Entrepreneurship, I echo many of the other people's comments, which is to focus on getting real world experience. Some schools may be offering degrees using trendy/eye-catching terms, but again, it's really important to focus on the substance of those degrees and the structure of those programs. Schools can teach you concepts, but those concepts will remain abstract and head-knowledge unless you find opportunities to apply them. I highly suggest getting yourself into internships during college, get 2-3 years of work experience/entrepreneurial experience under your belt, and then determine whether this Master program is the right fit for you.

The last key takeaway that I want to share is to not be afraid to explore different paths in college. When you're in college, most people/companies are willing to open doors for you to learn with little to no experience required. Actively seek out and take advantage of those learning opportunities because (sadly) they start to go away once you graduate!
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Bowen’s Answer

Great question. This is a good combination for entering into FIN Tech job market. There are a lot of startups and innovations. Having solid understanding of Finance and information technology will help you.
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Joselyn’s Answer

Hi Aniya,

If you would like to have your own business, exposure to taking masters in entrepreneurship is a valuable path to take not just to learn business but also to network and learn from your colleagues. I am currently taking masters in entrepreneurship, too and our batch comes from diverse background. If finance and information system interest you the most, you may go for it. I would suggest that as early as now, read and learn a lot not just from your education but widen it by gaining personal experiences.

Just a reminder that given the abrupt changes that can occur, it is important to note that your education can contribute to your success however it takes right character to build you up and your business. Don't be afraid to take risk and select the right people who can build you up. Always think of significance rather than success. If you are significant, success would follow. Be willing to start small and always persevere! Your dream will keep you till the end.

Sending regards to your endeavor!
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Natalie’s Answer

Undergrad degrees in these areas are super and "always in demand". Like other professionals who have answered your question, I would like to reinforce that a "Master's" may not be necessary nor a even a differentiator on the job market. Real work experience after your undergrad degree may be even more important.

The whole world is shifting right now with tele-everything and online/virtual-everything. All former institutions and structures are changing and evolving. Employers in all industries are questioning what kinds of education degrees are really necessary? The answer will differ by industry and job type. One thing I've noted for sure, in my 25+ year career: Masters and PhD's have their place, but they are no magic tickets to "promotions" or being "viewed as superior/expert". I would take some of my super-skilled colleagues with Undergrads or not over others with "higher degrees".

That said, I would ensure you find work experiences that allow you to thrive and grow as an employee while meeting your personal human needs/values at the same time.
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Richard’s Answer

My son works in finance (entry-level, investment banking), and I spoke with him about your question. I will say, for any question about 'should I major in X', you will first want to specify a goal! A double major like that will open up plenty of post-bachelors jobs, but the masters degree implies that you will want to eventually start your own business. I have heard talks about entrepreneurship and people have very different opinions about whether it is something that can actually be taught, and if your goal is to be employed, taking another year of school to do a masters might not be right for you! Think about the type of roles you might want and what matters to you, and then that should help guide your educational choices.
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Simeon’s Answer

I think that's a great idea! You should look into becoming a financial analyst. I agree that you need a constantly updating set of skills to stay current in the modern economy. Your investment in tech skills will be useful even if you don't end up in a directly tech-related job or industry.
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