JTWood wrote:Baseballer02 wrote:JTWood wrote:To be honest, the only finance majors I know are now either a) working for Edward Jones (St. Louis is its HQ) or b) an accountant.
Depending on what you consider "high paying," both of those fields start out pretty well with pretty good job security (a little more of the latter for the accountants, I believe).
I think i might've heard of Edward Jones, is it a mutual fund company? It seems to me the accounting majors would be accountants.
My uncle I believe graduated with a finance degree and currently works for E*Trade. I myself had planned on maybe being a financial advisor, but I haven't done enough research on the different career choices to make a decision.
As for advising, my father is a CFP. He wanted me to take over his independent advising business, but there are some characteristics of the business that just weren't my cup of tea.
For one, you have to get your own clients, which means being a good salesman. I don't like to "convince" people to say yes, so that's one strike.
Second, the field is very cyclic. You do great in good and average markets, but in bad markets, you don't have a friend - and it's really not your fault. That's strike two. I didn't really want to go looking for strike three, so I opted with the safe industry and became a private accountant - cost accountant, to be precise. I love it.
Took the words right out of my mouth. I am a Finance/MIS Senior and will likely head in the IT direction when I graduate. I'm leaving the door open for Finance....there is a lot of money to be made in the field obviously, but you have to be a certain type of person to succeed (ballsy comes to mind). I'll probably apply for some Finance jobs, but truth-be-told, I'd like to go into IT.
JT, your points are exactly the same ones I've heard about from some friends of mine who started in the Finance field within the last couple of years...they are making quite a bit of money doing exactly what you described.
By the way, props to you being a cost accountant, I can't stand accounting. For some reason OU requires 12 hours of accounting for Finance majors, but I took 15 and don't want to see another minute of it. Bring on the flat-tax.