style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance
they’re generally two kinds of people that end up in Finance first you have people who genuinely like
truly belonged to group number two so if you’re trying to decide whether the grind of Investment Banking or private Equity is worth it for you then maybe you should ask yourself a couple of the following questions so step number one is to think whether you
genuinely like Finance and in my opinion this is actually harder than it seems because our subconscious and cognitive dissonance can sometimes make it difficult for us to
unearth our true feelings especially if you’ve never worked in industry if you’re still a student you might idealize aspects of the job and not really understand what you’re getting yourself into now the first question i would ask is what do you do with your non-work energy
because pretty much everyone who is practical and ambitious is going to be working hard getting good grades and getting good internships but i want to ask you what do you do outside of that a key insight for me is a lot of the people who remained in style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance
life it didn’t matter if the pencils were down or the grades didn’t matter there’s some people who actively sought out things like Finance electives or
other opportunities to learn about Finance they came from a very genuine place it’s actually very easy to have a surface level interest in href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance
contrast that to the more critical thinking fundamental subreddits like security analysis it’s very easy to get carried away if you’re a spectator on the outside of the industry just looking at the fun parts of investing but the actual work is quite different if you want to do
traditional Finance you need to know all the Valuation all the corporate #1a73e8; text-decoration: none;">Finance and that should really reveal if you have a genuine interest in Finance i remember in my senior year of school a lot of
the really intense Finance people took very difficult classes like value investing or corporate financial reporting while i pretty much stayed far away from all the difficult
Finance electives and i just took very easy stuff and that honestly was kind of a good hint for where our careers would go most of my really intense hedge fund friends took
those hard classes and were constantly interested in learning about Finance so some questions that might help you understand whether you actually like href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance
you read Finance textbooks or Finance primers for
leisure what kind of electives did you take when did you first become interested in Finance do you actively manage your personal account and do you look for new investing
opportunities and the second question which is kind of related is how excited you get when you talk about Finance i realized that when i was working in new york and invest in
banking and i would meet other people the amount of excitement in our conversations was so revealing to me i would be talking to other people and they would just be going off about how intricate their deals were or how interesting the underlying business was and i already kind of knew that i
didn’t want to talk about that stuff i can’t tell you the amount of times when i’ve been at a dinner or at a party and the hedge fund guys are just waiting until it’s appropriate for them to talk about their favorite undervalued business so i would really take a careful
listen to what it is that you actually talk about if you talk about things like salary and how easy it is to get into business school from your firm you might be more attracted to the gossipy nature of text-decoration: none;">Finance and you might not actually enjoy the underlying job functions of Finance but if you get really excited by high quality businesses
and interesting investment structures then Finance might be a great place for you so step two i would say is trying to understand the work-life balance you want for your life
and how much energy you’re willing to put into your work and this is much more philosophical in nature but i think it’s really important you should try to think about what long-term goals are the most interesting to you even if you have to work 75 hours and you don’t have time for
anything else in Investment Banking most people only do that at the start of their career and there’s not always a direct trade-off with the rest of their life but that becomes much harder the older that you get sharp trade-offs start to appear by your late 20s if you want to
have a family around society’s median age time which often is your late 20s it can be very difficult to do so if you’re in a very demanding job if you want to do long term travel before you have kids it’s almost impossible if you’re going to be in a buy side role where you
have to be in a certain city on the other hand if you want to do things like retire early or buy multiple properties by the time you’re in your early 30s Finance might
be the risk-adjusted easiest way to do that so again if your main goal is just to earn money then it might be better to stay in Finance so i would ask yourself a couple of
these questions do you have any extremely ambitious wealth goals like being a hundred millionaire owning a sports team do you want to own multiple properties they want to earn enough so you can self-fund a startup or other ventures you want to retire relatively early do you want to get married
relatively early do you want to be able to take long-term trips for travel taken individually a lot of these might not give you the answer but i think it allows for some good self-reflection the third step and i would say the most important is to network and reach out with people who you find have
similar values to you now Finance has been around long enough that virtually every career choice has been thought about every decision and every problem has been encountered
by someone already so it’s your job to go and find those people so you can accurately make a decision for your own career you aren’t the first person to go into an Investment Banking internship and by week three wonder if you made the wrong choice you’re not the
first person to switch from hedge fund to venture Capital and wonder if you should have done something else all of these situations someone else has definitely been in and it’s your job to go talk to them there’s a book called stumbling unhappiness by dan gilbert that i
occasionally refer to when i think about this topic there is this one excerpt i want to say and it’s one way to make predictions about our own emotional Futures is to find someone who is having the experience we are contemplating and ask them how they feel instead of
remembering our past experience in order to simulate our future experience perhaps we should simply ask other people to introspect other inner states ideally i think you should be trying to reach out to people who are at least two big career decisions ahead of you or maybe five to ten years older
than you the reason why i like reaching to people who are five to ten years older oftentimes if they’re very close in age to you they might be more incentivized to protect their ego and seem like a sick guy so they might not give you a truly transparent answer on this note if you want to do
something really radical like start a small business or search fund or do something completely different like go into art then know that it’s going to take a lot longer to find the right person to talk to and that’s just a feature of the process i just want to close by saying that as
much as i disliked certain aspects of Finance if i had to do it again you know i’d still pick Investment Banking and private Equity i
learned that i definitely wasn’t passionate about Finance but i think i still learned a tremendous amount it gave me good Savings that i could make a
real risk in my career and it did open the door for things like business school and tech so even if i had to go back in time i would still likely make the exact same decision when you’re coming to school and you want to be on a fast track there really aren’t that many options and i
think unless you have a strong inclination towards something places like Finance or consulting can be very good for your career so hopefully asking these questions will help
you understand whether Finance is right for you if you’d like to read more about other related career questions then you can check out our blog at peakframeworks.com i
also have a personal blog at matting.com where i chronicle the more personal career decisions in my life so thank you very much for watching and i will see you in the next CashNews.co
CashNews, your go-to portal for financial news and insights.
this thanksgiving, matt's jawline and early video uploads are what i'm most thankful for 🙏
Are there any creative professionals who went into finance? Or is it rare?
well, I do not want to discourage myself, i am interested in finance so that i will make better choices with my earnings from this field. I am re entering the education department. I have no degree as of yet because I did this step backwards, had my children first and did not have the support to go to college. I am 36, I have more than a handful of children. I have plans to start from scratch. I would love to learn everything there is to learn about tracking investments and business gross vs liablities and things of that nature. I dont know how to explain it because i have no formal training in this field. I need to learn these things.I am not getting any younger nor are my children. I aspire to have financial freedom.
The postal service!!
inspiring insights on interest of finance
6’5 blue eyes
I don't think I got any option
I am already invested in finance too much
Though in my leisure time I read about geopolitics
I feel like I definitely resonate more with the second group of people who are looking to optimize my career. Any insight or advice on where to go from here would be greatly appreciated. I am about to be a senior and have been feeling kind of lost recently in terms of what I should I do with finance.
I’m super interested in finance and like to talk about interesting companies and investment options with friends who work in finance. I have read finance news since I was 15/16. I would gladly work 75 hours a week and I’m super hard working person. But sadly I didn’t choose to study finance and chose city planning and architecture. Since I am also interested in this. But pay isn’t impressive. I’m already 31 years old and kinda regret not choosing finance. These days I just invest privately and hope to get rich that way.
Hi Matt, thank you for creating this video! I answered all of the questions at 5:07 with straight "YES". However I'm not really grasping the main point, does that mean finance might be suitable for me, or the other way around?
Looking forward for your reply
I love finance but after graduating with a bachelor in the finance, I switching to data analytics going forward. Finance has many issues regarding credibility, secrecy, fraud, and a lack of understanding of strategy. I wish anyone luck trying to make a living in finance but be aware its more sales, marketing, or accounting than finance.
Awesome stuff, it is really a good idea to put up things in place while one still has the time and opportunity to, as a person seeking financial breakthrough or being mindful of the reality of the world and its challenges while still in service or as a retiry one should consider the basics that can make a meaningful living tomorrow. As the case maybe things and ideas like these may not come up often that's why it is very much benefiting one consider it very important and grab it without hesitation, many senior citizens have made mistakes regarding this and at some point did not really take the steps to invest appropriately and today they are paying bitterly for it, the little one can actually invest today will definitely speak volumes when the time comes because it will never be lost.
Short video
Very well presented. My grandson is finishing his first year in college Finance…I hope he has a full and happy life. I don’t value a one-dimensional life. A good job is for all the higher values…no time for living is empty.
It is a scam
I like the intellectual aspect of finance theory, so I taught finance part time at local colleges. As I was trying to teach portfolio theory, most of the class wasn’t interested. I said, yes, it’s not for everyone, but you guys are finance majors, but it was too late to change in senior year.
Can I enter the industry in mid thirties
please do make a video on various types of financial skills to be developed to build a career in finance
Hi, everyone i need your guidance.I have done MSc Accounting and Finance in Pakistan, but now i want to study in UK, so please guide me which master should i chose to study in Uk.
This is an awesome video. Great overall layout when it comes to making career decisions
Totally agree with the part of not asking people close to own age. Usually they won’t give an honest answer to look good
I think my older brother should’ve went to school for finance. Today all he does is invest, read about investing and send me stuff related to the topic.
Are there any remote finance jobs?
Recently qualified CMA from Institute of Cost Accountants of India and i was confused about choosing my profile, now i am sure that i am going into finance profile
I really like chemistry , I enjoy working in labs and dealing with chemical reactions and stuff but there aren’t many job opportunities for chemistry fields and I don’t think it makes a lot of money where I live , but finance does and I’m not sure if I like it or not 🙁 I’m too afraid to go for it I don’t know if I’ll like studying it or not . I need help 🥹
I wanna be famous and smart so I wanna try finance
Helped me to make decisions
I needed to hear this, IT defintly fits me better since i want to able to have work life balance and create my own business on the side
something I needed to hear, thanks
This is great. I almost majored in Finance (and then seriously considered economics and accounting) before realising that all these subjects are purely hobbies for me and that that I would hate to have a career in any of these fields.
I'm grateful for the many people far smarter than me who have made these subjects more accessible through podcasts, blogs, books, lectures and research papers. I don't deviate from investing in broad based low-cost index ETFs (S&P500) and remain informed but don't see myself building a career in the field.
I have a year to decide what to do oof
One thing I will add is it is very tough to break into private equity and investment banking especially and many analist roles aswell. For finance your GPA matters and you want to keep it at 80% minimum or 3.5. Accounting does not have as strick requirements on grades and you can still sneak into finance if you get your CFA later on. Finance is high risk to reward degree. If at a target and have good grades major in finance. If not still consider finance, but consider accounting aswell as it gives an employment safety net and you can still get into finance if you want aslong as you get your CFA which is becoming almost manditory even if in finance.
3 things about me
1. Absolutely love finance more than anything else. My hobbies are all finance related.
2. Work life balance is crap to me for most of the time. I have worked for 4-5 months straight for 13-14 hrs.
3. My bed time reads are biographies of top bankers, PE CEOs, 2008 financial crisis books and Wiley finance books.
Will apply to Oxford, Cambridge and other top finance schools.
What finance podcast do you recommend?
I’m looking to change careers. My degree in exercise science sucks lol. I know finance and accounting are very tough careers but I do listen to Dave ramsey everyday. I’m starting to like money and want to make more money. I’m 28 years old and just afraid that it’s too late to get into finance or accounting. I don’t even know how to break into the field. I could always get a masters degree but I don’t know anything about accounting or finance. It’s interesting stuff with the little I learned
I'm seriously considering going from IT to finance; I just find learning how money works is much more interesting. My main goal is being a PFA and working for myself.
I'm a data scientist seeking to complement my existing skills in Finance. How should I pursue that path given I'm from engineering & computing background. Would an MBA in Finance from university of Montreal help or a CFA be the better option?
I was never into finance. My favourite subject is Biology(not chemistry,not medical only biology) and I always wanted to work as a biologist or researcher or psychiatrist. But from my childhood I wanted to make millions. So now I understand computer science can only make me a Millionaire fastet but I don't want to learn Programming or coding. Now my life's only goal is making millions as early as possible and retire by the age of 40.Should I study finance?
I’m like you but with the arts, thought I should do that like you said in the beginning.
What an amazing and insightful video . Could anybody please tell me what Finance Primers are ?
is Business Administration major in Financial Management good ? , Currently studying Accounting
Sub'ed because his honesty made me honest.
Thank you! This video was very helpful and explained very well. You are someone I would like to talk to for step 3…. Me as a freshmen in college
I Respect your ability to self analyse and be honest about yourself. As a rising junior at a non target school, it is certainly a grind to break in
Hi. I am eager to work in finance industry. I am searching for a suitable bachelor degree for that. Would you recommend me to do a bachelor in International business for that?
dude you're so underrated this video is so high quality I love it
Hi, I just graduated in an investment degree last year and I genuinely don't know what career path to pursue in this industry. I enjoy the stock market and learning about the mechanics and technicalities of how it works, but I enjoy interacting with people. I don't know what career path I can pursue that incorporates some degree of both 😢
I'm 18 and going into finance next year but I have doubts. I decided I wanted to get into finance because I LOVE doing stocks and the idea of investing/entrepreneurship in general excites me. My main goal is to retire early but if the worklife balance for finance is really that tedious, I probably wouldn't have enough time to focus on my own investment, or business or in real estate or other things that can help me retire early. My question is, with my situation should I go for a career that has a better worklife balance that still pays well like in tech? Or since I enjoy doing financy stuff I should just pursue finance and I can still retire early with it?
Also, great vid man it really did helped!
I think finance is great way of getting into many fields without actually getting into several fields; personally I'm interested in "business", biotech, greentech, space and tech related to AI and by investing in companies through finance you can, in a way, get involved in several fields. This, along with the earning potential, new tech like blockchain and making other people wealthier through wise investment decisions with their money, is what excites me the most about finance.