Finance degree?

[herewegoagainmymy]

Anyone got a DS doing Finance? DS is mathematical (doing Maths A level) but really doesn’t want to study Maths. He’s really interested in investing (has a portfolio with his saved birthday money!) and how markets work/crypto etc… He’s also quite interested in psychology and Far Eastern culture/music. I think Accountancy would be boring for him.

Not sure on grades yet but I’d say aspirational would be AAB.

Any experience /thoughts? Thanks.

Economics?

@Chasingsquirrels

Economics is a possibility but he’s got it in his hard it’s very hard. I think he’d like a more practical, less theoretical degree. Economics can be overly theoretical for some.

I was friends with quite a lot of people who did Money, Banking and Finance at Birmingham and a load of them went to work in the city (earning shit loads).

Accounting and Finance at Bath might suit him. It’s very highly regarded. They do excellent Management courses too if he wants a wider field of study. I haven’t looked at the grades required though.

Thanks both - unfortunately both those degrees are AAA. I’ll keep an eye on them through clearing though. Although I wonder what people think when you tell them your degree is in money and banking 🤔

Just in case he might be interested in studying to be an accountant, those with accountancy/finance degrees have much lower pass rates in the professional exams. All thé people where I trained who were time-barred in the exams had accountancy degrees.

I definitely don’t think
he wants to do accountancy either as part of a degree or a career. His interest is more investment.

Actuarial science?

I was also going to say money banking and finance at Birmingham. Be aware although they don’t ask for maths a level it is tough without it even if they have done economics

Look at place like Reading - they offer a finance degree and I think entry requirements are around ABB.

@Trafficjamlog thanks. It’s AAA so too high. He is doing Maths A level though (I say that in
my OP)

I suppose he could but I wouldn’t encourage him to do the exams. Too much of a slog.

Yes I was wondering about Reading . We looked at it for my other son and weren’t sure. Maybe we need to take a look at the business school there.

For an overview of Investment Banking and explain the differing roles within this sector. I would look at that. They say it’s very competitive. Whether Reading would be good enough when it’s a worldwide business I don’t know. However get him to do his research and find out what he really wants. I rather suspect these employers have a huge choice and applicants need to do the internships etc.

Sorry @TizerorFizz look at what? I’m not clear what you mean. Worldwide business? Your post is a bit confusing!

Economics isn't necessarily 'hard' - look for a degree where you can do less of the econometrics element (the maths bit!). Or combine it with politics or another humanity subject.

Thanks. Any more thoughts on Finance anyone?

Have a look at Banking & Finance at Manchester Metropolitan University.

Without sounding chippy (and I really don't mean to!), you both seem to count and discount pps suggestions based on your perception and "what people may think" rather than actually knowing.

Eg the suggestion of economics (perception if too hard) and the Birmingham degree (what will other people think).

For a start, pretty much all degrees at good universities are theoretical. That's the point: you apply the theory in your jobs afterwards.

Secondly, there are two ways to chose what to study at university. First, just do a subject he enjoys and worry about the job later. Second, pick a career and get the degree to get there. I did the latter, on the basis that I would be working for a lot longer than I would be studying...

Can he get work experience in any finance/economics jobs? Or talk to anyone who works in the areas he is interested in? Are there any organisations set up to help kids understand the entry pathways and roles (such as STEM ambassador for science/engineering)?

I was being tongue in cheek about Birmingham! It’s AAA anyway.

i think the points about work experience and enjoyment are right. He definitely was interested in the Finance modules. We’ll take a look at Economics again although I think he’s determined not to do it!

Both my husband and I have related degrees/careers so whilst it may look like I’m discounting suggestions I do have first hand experience/knowledge of some of these suggestions (just didn’t want to give too much personal info out).

Thanks for your reply.

@Anita’s point about the two ways of choosing your course is excellent. It sounds like your DS is working backwards from wanting a career involving investments.

Does that necessarily mean investment banking? These highly competitive jobs tend to go to top Economics and STEM graduates; possibly actuaries and accountants - I don ‘t know, being a Russell Group STEM academic myself. The reason they are well compensated is that they require a high level of analytical training.
Having supported many students through the application process I agree with the implication from @TizerorFizz that it is brutal.

It doesn’t really sound like your DS is interested in this side of things. The client facing advisors for my own modest investment portfolio are mostly younger graduates with a Business background. One presumes this role is their entry into the investment sector and they are hoping to move on as they acquire value for the firm.
I am sure there are other pathways.

If your DS wants to plan his degree based on the career he envisages afterwards, I think he needs to research the match more thoroughly. Good luck

Hi, thanks but you’ve got that wrong @poetryandwine he hasn’t even mentioned a career in investment banking. He’s just genuinely interested in investments and how different types of money work. He’s definitely not working backwards from a career, just thinking about what he’s interested in.

@herewegoagainmymy
Im really sorry. Should not have posted at night.

I found finance/banking careers guidance on the Oxford University Careers web site. It gives a good overview of finance/banking jobs and Investment banking. It’s worth reading.

Investment Banking to most people means making decisions on a global basis regarding vast sums of money. Working on behalf of pension funds and other investment vehicles.

We have an Investment Adviser who works for our Investment Portfolio holder but he makes no decisions at all. He just talks to us about our future needs, tweaking the portfolio to reflect that (income vs growth) and tax implications and ISAs etc. So this is a very different role to actually making the investment calls with vast amounts of money.

There are of course small investment operators who will sort out investing modest sums in investment vehicles designed by the big companies and sold by them as products. I’ve no idea how anyone gets into this but I would imagine starting work for a company doing this is a start.

Thanks @TizerorFizz that explains what you mean! Funnily enough my husband works in investment and I have a similar background but do something else now. So we’re pretty well placed to advise although that comes with our own bias/emotion (I would hate him to go into the city for various reasons based on my experiences) so we need to be aware of our bias.

Without being too outing about where we live, a career in the city (London) is not such an obvious choice as it is for the SE based munsnetters. Can’t say too much more than that! It’s just that nearly everyone here has jumped onto investment banking when I haven’t even mentioned it.

I apologise, @herewegoagainmymy. You also mentioned an interest in Psychology. Perhaps helping clients with investments (eventually moving up within the client facing side of an investment firm) is what would suit your DS? I suspect there are some fascinating niche careers for people who know psychology and the rudiments of the investment industry but cannot advise.

For work of the client facing nature @TizerorFizz and I mentioned I think less quantitative Business or Economics degrees would suffice. (I know it had for a couple of our advisors) The degree programmes at my university that seemed more in line with your OP are more technical ones your DS has, to judge by your earlier replies, less interest in. Or what about something joint in Psych and Business?

FWIW, when I read the thread headline my first thought was Maths with Finance. Lot of Business/Econ courses involved but fundamentally a technical degree with a fairly pragmatic focus