13 answers
Emily
Student
Naperville, Illinois
5
Questions
Asked
1026 views
How hard is it to get a career in investment banking if I'm an engineering major with a finance minor?
Additionally, would it make a difference if I got double majored in engineering and finance instead of having it as a minor?
13 answers
Brandon McGrath
Consultant
3
Answers
Casselberry, Florida
Updated
Brandon’s Answer
I think your choice is brilliant. Most individuals who major in Finance have a narrow scope of skills that everyone else in their professional path has.
With a high-skill specialization like yourself, you could do a deep dive into the Tech sector, Aerospace, etc. in the commercial banking world. You could also assist in auditing companies for takeover or Angel funding.
I have met several people WITHOUT the Finance Minor who have used their skills to aid in mergers and acquisitions, and I believe that you could also excel in this area (essentially Investment Banking for companies looking to expand).
With a high-skill specialization like yourself, you could do a deep dive into the Tech sector, Aerospace, etc. in the commercial banking world. You could also assist in auditing companies for takeover or Angel funding.
I have met several people WITHOUT the Finance Minor who have used their skills to aid in mergers and acquisitions, and I believe that you could also excel in this area (essentially Investment Banking for companies looking to expand).
Shashi Yadavalli
Management Consultant
7
Answers
Cleveland, Ohio
Updated
Shashi’s Answer
You've already built a solid foundation in quantitative skills with your chosen major and minor. There's no need to stress about pursuing a double major. Instead, your next step should be to actively network with Investment Banking firms. Begin by reaching out to your school's alumni who are already in the Investment Banking sector. Also, make connections with recruiters from top-tier firms. Consider enrolling in a financial modeling course to further enhance your skills. Lastly, prepare thoroughly for your interviews. You're on the right track, keep going and best of luck!
Elizabeth Coppock, CPA
3
Answers
Updated
Elizabeth’s Answer
Hello Emily!
Opting for a double major in finance can certainly bolster your chances of securing a finance job. The extra workload that comes with a double major can demonstrate your capacity to handle more responsibilities, setting you apart from other applicants. It also provides you with a unique blend of skills from both majors. However, investment banking firms typically look for candidates with solid academic records. If a double major could potentially compromise your academic performance, it might be wise to consider finance as a minor instead.
The key to landing a job in investment banking lies in expressing a genuine interest and enthusiasm for the field. I would advise you to participate in any job fairs your college organizes, especially those focused on business. These events often attract recruiters from investment banking firms, providing an excellent opportunity for you to learn about their companies and make a positive impression. Being remembered by someone within the company can be a significant advantage when it comes to securing a job.
Depending on your current year in college, you might also have the chance to intern with these firms. This can be a valuable addition to your resume, giving you practical experience in the industry. Some internships may even lead to full-time job offers if you prove to be a high-performing intern. This can alleviate the stress of job hunting in your senior year. I know several people who interned at investment banking firms and were either offered full-time roles post-internship or used their experience to secure a job after graduating.
Opting for a double major in finance can certainly bolster your chances of securing a finance job. The extra workload that comes with a double major can demonstrate your capacity to handle more responsibilities, setting you apart from other applicants. It also provides you with a unique blend of skills from both majors. However, investment banking firms typically look for candidates with solid academic records. If a double major could potentially compromise your academic performance, it might be wise to consider finance as a minor instead.
The key to landing a job in investment banking lies in expressing a genuine interest and enthusiasm for the field. I would advise you to participate in any job fairs your college organizes, especially those focused on business. These events often attract recruiters from investment banking firms, providing an excellent opportunity for you to learn about their companies and make a positive impression. Being remembered by someone within the company can be a significant advantage when it comes to securing a job.
Depending on your current year in college, you might also have the chance to intern with these firms. This can be a valuable addition to your resume, giving you practical experience in the industry. Some internships may even lead to full-time job offers if you prove to be a high-performing intern. This can alleviate the stress of job hunting in your senior year. I know several people who interned at investment banking firms and were either offered full-time roles post-internship or used their experience to secure a job after graduating.
Ricardo Morales
13
Answers
Updated
Ricardo’s Answer
Not really a problem ... of course doing a double major in finance can help ... but a degree in engineering could be very valuable in finance because of their analytical and numerical skills. In facto i run a desk of a big American investment bank and to of my last hires have been engineers. Both have studied at ICAI (Universidad Pontificia Comillas) ... one of them is just a Engineer who complemented his studies with the CFA after finishing his degree ,.. and the other one studied engineering + BA ... so rounded profile.
Ankur Nadda
Management Consulting
2
Answers
Jersey City, New Jersey
Updated
Ankur’s Answer
Hi Emily,
I have successfully done that after completing my masters in Comp Science from Pitt. I can only provide you what I did to get into that, I had some previous IT experience before getting into masters. I started looking for boutique consulting firms or small companies which are easy to land but either do consulting with Investment banks or support them as partners. As I had some experience in Analytics and Data Science which are key element in banking, I started learning about risk management or basically QUANT roles required in banks. I ended up joining a French consulting company based out of NYC and then joined a large French Investment bank as a QUANT Analyst, after working on small task I became experienced in Credit Risk specifically. Kept learning credit risk and took FRM courses and eventually got a project with the bank to work on FED Risk Models, with expertise in credit risk. This is back office for Investment banking and got all the exposure required, did that for 4 years before I kind of got exhausted and moved back to consulting.
In summary find roles with require your engineering skills but if you are good with math and numbers, you can land a job as an Analyst to start with.
Thanks,
Ankur
I have successfully done that after completing my masters in Comp Science from Pitt. I can only provide you what I did to get into that, I had some previous IT experience before getting into masters. I started looking for boutique consulting firms or small companies which are easy to land but either do consulting with Investment banks or support them as partners. As I had some experience in Analytics and Data Science which are key element in banking, I started learning about risk management or basically QUANT roles required in banks. I ended up joining a French consulting company based out of NYC and then joined a large French Investment bank as a QUANT Analyst, after working on small task I became experienced in Credit Risk specifically. Kept learning credit risk and took FRM courses and eventually got a project with the bank to work on FED Risk Models, with expertise in credit risk. This is back office for Investment banking and got all the exposure required, did that for 4 years before I kind of got exhausted and moved back to consulting.
In summary find roles with require your engineering skills but if you are good with math and numbers, you can land a job as an Analyst to start with.
Thanks,
Ankur
Miguel Dorado
Stock Broker
8
Answers
London, England, United Kingdom
Updated
Miguel’s Answer
Hello Emily,
Pursuing a double major in finance will undoubtedly be beneficial. Demonstrating a strong passion for finance is a crucial factor in standing out among applicants. Moreover, taking on that additional workload will serve as an excellent measure of your capacity to handle it, given that a career in Investment Banking is quite challenging. This is a fantastic opportunity for you to shine and show your potential!
Pursuing a double major in finance will undoubtedly be beneficial. Demonstrating a strong passion for finance is a crucial factor in standing out among applicants. Moreover, taking on that additional workload will serve as an excellent measure of your capacity to handle it, given that a career in Investment Banking is quite challenging. This is a fantastic opportunity for you to shine and show your potential!
Marissa Giancola
Bartend
1
Answer
Cape May, New Jersey
Updated
Marissa’s Answer
If you are looking to go into Investment Banking I would encourage you to take a double major in engineering and finance. With a minor you do not take all the valued courses for this specific job. With the double major you can work with a engineering company and banking group to put to use both degrees!
Thank you for replying! The only thing I'm worried about is whether it'll be too much coursework if I wanted to double major in engineering and finance considering they're two different fields.
Emily
Cecile Cosby
2
Answers
Updated
Cecile’s Answer
I've seen a variety of majors secure roles in Investment Banking out of undergrad - but what I think is important is having a quantative background. A major in engineering will get you that but the Finance minor will give you great context on the core fundamentals of Finance. Additionally, being able to successfully go through the interview process and understand financial statements, modeling, etc. will be important. There are a lot of resources online that can help you understand what is needed to prep for interviews.
Steve Purvis
Financial Services
2
Answers
Chicago, Illinois
Updated
Steve’s Answer
Emily,
My personal belief is that the extra course work pursuing the double major won't actually be critical to performing well in the investment banking job. However, as you'll be competing with an applicant pool that likely does have a majority of people with Finance majors, unfortunately the Minor distinction may put you at a bit of a competitive disadvantage. Therefore, as others have said, I think pursuing the double major is probably worthwhile for you.
Also, to reiterate what others have answered, I think the Engineering degree should and will be a very solid differentiator for you, as I assume not many of your co-applicants will be able to boast the same qualification. I would place heavy emphasis on that as you begin your applications and conversations with potential employers. Not only will it give you a unique perspective and qualification in several industries, but demonstrates critical thinking skills and discipline that should set you apart.
Best of luck finishing school and hopefully in your investment banking career going forward.
Best,
Steve
My personal belief is that the extra course work pursuing the double major won't actually be critical to performing well in the investment banking job. However, as you'll be competing with an applicant pool that likely does have a majority of people with Finance majors, unfortunately the Minor distinction may put you at a bit of a competitive disadvantage. Therefore, as others have said, I think pursuing the double major is probably worthwhile for you.
Also, to reiterate what others have answered, I think the Engineering degree should and will be a very solid differentiator for you, as I assume not many of your co-applicants will be able to boast the same qualification. I would place heavy emphasis on that as you begin your applications and conversations with potential employers. Not only will it give you a unique perspective and qualification in several industries, but demonstrates critical thinking skills and discipline that should set you apart.
Best of luck finishing school and hopefully in your investment banking career going forward.
Best,
Steve
CATHERINE C
Investment Analyst
5
Answers
New York, New York
Updated
CATHERINE’s Answer
Investment banks tend to value intellectual ability more than what degree you have. I have known incredibly smart people working alongside me in investment banks who held degrees in History, Literature, Engineering etc. It may be a little tougher in the Arts subjects to get the first interview but no issues for Engineering typically; those with an engineering background are often highly sought after in the IB world.
Good luck and keep networking! Once you get your foot in the door, it opens up many more opportunities in the finance world.
Good luck and keep networking! Once you get your foot in the door, it opens up many more opportunities in the finance world.
Sami Alami
Management Consultant
4
Answers
New York, New York
Updated
Sami’s Answer
I think you're already in great shape with the minor (although I work in Consulting and not Banking). While it is true that Investment Banks will appreciate some Finance experience (within your education, and especially real world experience through internships or other options), there is a broader theme in the job market: it's your experience, relationships and attitude that will get you where you want to go. Best of luck!
Ram Ramdattan
Consulting
5
Answers
Dallas, Texas
Updated
Ram’s Answer
Hello Emily,
This is a good question. I would say it is certainly doable. Wall Street has several firms who have hired engineers and rocket scientists because they had a certain understanding about finance and ended up designing algorithms in QUANT trading firms apart from other important positions. With investment banking there are some other things to consider like getting a CFA certification. Additionally consider if you are going to the buy side or sell side, M&A, buyouts and/or valuations- there are some good books out there to look at and learn more- Investment Banking by Rosenbaum and Pearl is a good start.
I would say also look at moving to NJ/NYC if feasible for you, as proximity to Wall Street will certainly help you understand the market and players. It would also help you to network more. The network alone is a huge asset for any experienced investment banker as that can determine the quality and level of deal flow to the firm they work for.
Good luck in your career directions and your search
This is a good question. I would say it is certainly doable. Wall Street has several firms who have hired engineers and rocket scientists because they had a certain understanding about finance and ended up designing algorithms in QUANT trading firms apart from other important positions. With investment banking there are some other things to consider like getting a CFA certification. Additionally consider if you are going to the buy side or sell side, M&A, buyouts and/or valuations- there are some good books out there to look at and learn more- Investment Banking by Rosenbaum and Pearl is a good start.
I would say also look at moving to NJ/NYC if feasible for you, as proximity to Wall Street will certainly help you understand the market and players. It would also help you to network more. The network alone is a huge asset for any experienced investment banker as that can determine the quality and level of deal flow to the firm they work for.
Good luck in your career directions and your search
Sid Tripathi
Portfolio Management
2
Answers
Dallas, Texas
Updated
Sid’s Answer
The engineering and business background combination ensures solid quantitative analysis skills that will be useful both in Investment Banking (IB) and careers beyond. However, networking with IB professionals and securing relevant analyst internships are more crucial than your academic majors for successful IB recruiting outcome. Start with reaching out to alums and junior professionals in Investment Banks for an in-person or virtual coffee chat. In addition to NYC based firms, also reach out to closer regional offices (e.g. in Chicago, Minneapolis etc.) for possible internship opportunities.
Good luck!
Good luck!
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