November 22, 2024

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Economics Major vs Finance Major #Finance

Economics Major vs Finance Major #Finance


a month ago i did a CashNews.co comparing majoring in Finance to majoring in computer science and it was a big hit so now i’m thinking let’s do a

CashNews.co of comparing majoring in Finance to economics and just a little background on me and why you’d even care about my opinion i did a double major in

href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance and economics and my bachelor’s degree and then i ultimately went on to do a master’s in color: #1a73e8; text-decoration: none;">Finance and so let’s get into which of these two majors might be best for you the first category i want to discuss is salary i looked at glassdoor.com and payscale.com amongst others and found that

href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance majors on average earn more money than economics majors although these figures are fairly close and both are decent paying majors but if you’re most interested in earning

more money than Finance may be the better major for you the second category that i want to discuss is careers in academia so this would be if you want to work as a academic

researcher or a professor i would say that economics is the better major for this category and often economics bachelor’s degrees are thought of as almost a stepping stone for more education so a lot of times people who get bachelor’s degrees in economics actually go on for either a

masters or phd in economics or another field and in a bachelor’s degree in economics you will learn um more math uh skills or math you’ll take more math course work than you would as a text-decoration: none;">Finance major typically and you’re also gonna learn more research skills than a Finance major typically would and and and last

point if you do want to be a professor or go on for a phd it’s a lot easier to get into an economics phd program than a Finance phd program because there’s just a

lot more candidates that are accepted to economics phd programs and for the third category careers in the industry i’m rating Finance as the winner and what i mean by

the industry is businesses large corporations financial services firms so if you want to get a job in the industry in these businesses Finance maybe the better

bachelor’s degree and so with an economics bachelor’s typically this might not be enough to land a solid entry level role because you’re going to need to go on for that master’s degree or potentially phd etc but a bachelor’s in

href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance is typically enough to land that job with a bachelor’s in none;">Finance you can go into so many different career routes so if you end up at a non-financial services firm so this would be like a corporation that their main product they’re not selling financial services you could get a job in Financial Planning and

analysis which i have a CashNews.co on here or you could get a job in the Treasury department or as some sort of entry-level Accounting role because you do learn a handful of Accounting courses in a

style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance major if you do go on to work for a financial services firm there’s so many potential different routes you could go down there’s uh investment analyst positions financial Risk

Management private Equity venture Capital Investment Banking trading and it there’s just the list goes on and on and for the last category i included interesting content so like which one is more fun to take which one is more fun to

learn about i rated this a tie because this category is by nature very subjective and it will differ from person to person i can only tell you from my personal experience that i actually found economics courses to be more interesting than the

style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance courses and this is because in economics you learn about theoretical topics that really affect the world and your country and yourself from a bird’s eye view so you can see a news article about a political

policy that might be proposed and be able to intuitively understand how that would shake out and affect the world and i think that’s very interesting but also the the topics covered in an economics major are by nature very theoretical and hypothetical and so if you’re a person who likes

theories then you might like economics better as far as Finance the things you learn are more applicable so you’ll you’ll learn directly how concepts you need on

the job from day one so you’re gonna learn how to do things in microsoft excel that you’ll need to do on your job but you’re going to learn how to calculate certain things or even how to do journal entries and Accounting all these things that are directly

applicable so if you’re a person that wants to learn something that they can apply from day one on whatever job they’re gonna get you might find Finance to be

more interesting than these hypotheticals that you’d learn about in an economics degree overall both Finance and economics are great choices for bachelor’s majors

if you are looking to potentially make more money not go to grad school and get a degree that is directly applicable to a real job from day one Finance might be the better

choice for you if you’re interested in learning about theories from a bird’s eye view and you potentially want to go to grad school for a master’s or phd and maybe work in academia down the line then an economics degree may be a better choice for you i hope you enjoyed this

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Now that you’re fully informed, don’t miss this essential video on Economics Major vs Finance Major.
With over 92032 views, this video is a must-watch for anyone interested in Finance.

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31 thoughts on “Economics Major vs Finance Major #Finance”

  2. Hey, I dont know what should I choose: finance and accounting, economics or management. I have read a lot of economics books and I think my knowledge is good, same with understanding financial markets. I am scared that studying finance or economics will be waste of my time therefore I should choose management. I will add that I live in Poland and education here isn't on the highest level. What's your thoughts on that? Thanks

  8. Accounting > Finance > Economics for undergraduate.. Plus you can usually get a finance job with an accounting degree. The reason accounting is better though is it's much easier to move up to CFO/treasurer/controller or start your own firm, or buy an existing firm. Changing roles in finance is much harder, and economics is even harder.

  13. Hi Ryan, currently I am completing my Master in Financial Economics. After graduation I want to aim for a buy side role in asset management, like an analyst position. Would you say my current course is suited for that? And is it helpful or even necessary to get good coding skills and/or a good investing track record?

    Thanks for sharing the knowledge!

  16. I am enrolled in a business economics bachelor's and it includes economics and finance both as well as other subjects like econometrics, analytics, business laws, accounts

  18. actually i got 3 options business administration accounting and economics and i'm confused which one should I choose to get a good job or be a business analyst or financial analyst

  19. Hello Mr. Ryan, I have an inquiry, I am currently studying Master's in Financial Economics , this master combines Finance and Economics, As I am studying Micro and Macro Economics and other Finance Modules such as Financial institution and Foundations for finance, etc., but, I am not prefering working in the Economic Field as in my Bachelor studies I was preferring the accounting and finance modules, so my question is that can I after graduation from my master to work in the Accounting Field or any nearly field to this? Would it be possible? And Do you recommend this?

    If not, what would you suggest for me?

    TIA! And Best of luck

  22. Good summary. economics might actually lead to a broader set of opportunities when looking for a job. This is because Econ teaches you to think rigorously. This kind of thinking can help you be successful in any role. Secondly, it is much harder to get into a good Econ phd program than finance. The math prerequisites alone make it much harder to succeed in Econ grad school.

  25. Ryan, this video was very helpful for me.

    I have been searching for this type of content and info.

    I was not sure which degree suits me better but your video helped me a lot.
    However, I still have some questions:
    1. If I apply for Finance degree, is there any possibility for me to become a "finance bro" and directly start working for some big investing companies.
    2. My knowledge in mathematics is average, will it be hard for me to study Economics? Because I checked some information and I saw that they have some MACRO/MICRO economics, Econometrics etc.

    Thanks in advance!
    🤟

  31. Econ majors make more than Finance on average, assuming no masters degree.

    I am an econ major. Getting a BA in Econ with a minor in business you can graduate faster. Cost is less. Higher return on invest.

    Master degrees are often joke in my opinion. There’s a lot of profit in not-for-profits (i.e. universities.)

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