Ana
Economic History or Economics for Equity Research
I'm a high school student looking to apply to the University of Edinburgh and Oxford for a degree in either Economics and Management (Oxford)/Economics with Finance (Edinburgh) or Economics and History (Oxford) and Economics and Economic History(Edinburgh). I feel incredibly passionate about the way that economics and history intertwine, and how each has affected the other over time. So, I would probably have more success in articulating that passion in the university application process, which means I would probably have a higher chance of being accepted. However, the career I want is one in equity research, and I feel that I will have a harder time in terms of finding internships and jobs if I study economic history because economics/finance majors have a more practical background and more obvious connections to the world of banking. Is it possible to break into equity research with a degree in history and economics? Do I need the more practical background of finance? Any help/advice would be greatly appreciated. #finance #economics #investment-banking #corporate-finance #equity-research
4 answers
Jyoti Rao, MS, CMS
Jyoti’s Answer
Peter Heintz
Peter’s Answer
I see a lot of young students ask questions regarding their undergraduate degree as if it is some sort of contract for the rest of their career. In my opinion, the idea of a major is used to help keep students engaged in their coursework by letting them choose the subject or discipline they must dedicate so much time to studying!
Your question though is a bit different, as you seem quite engaged already (which I highly commend). I think you need to reflect on which major path reflects an area of interest - almost like a hobby - and which reflects the beginners guide to executing at your future internship/career.
Any analyst performing equity research will require some background in market mechanics, countless terms in the financial dictionary, comfort with large data sets, etc. That being said, there is some merit in understanding historical trends and the drivers behind past market events. In short, you will want a bit of both sides. I urge you to consider which of those two possible paths, the practical vs theoretical branches of economics, you think you can learn and explore on your own in your free time. The path you wish to have a better foundation in, better guidance, (and ultimately a diploma in), etc. should be your major.
It's worth noting that in my experience, many professors also do private research in their field and may be willing to help supplement your self-learning in the non-major area (be it economic history or applied banking/finance). It's also worth noting that I studied Political Science, something completely unrelated to my current role, and still broke into the banking world.
Best of luck!
Maurice Ford
Maurice’s Answer
A bit of advice. Don't sweat it!
When choosing a major, you want to think About your passion and what you think you'd love doing after college. Either choice is a safe bet. While taking courses, you will get a sense if you are enjoying the topics or not. If you find yourself taking courses that don't seem to fulfill what you are looking for, you will always have an opportunity to switch majors. Take a few electives from both majors and see what best suits you.
Good luck!
Christan Lambert
Christan’s Answer
I think you can get all 3 of these skills through an Economics & History major. The person that interviewed me had a Master in International Affairs if I remember from Oxbridge. I would do your best at Oxford,in what your passionate about so you enjoy it. and then just make sure to have networks or links with the bank your interested in.
It will be important however to brush up on basic finance before your interviews though. So do go through some basic first year and second year finance concepts as these are vital!