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Bye, Bye B-School

error

Error..I mean I am not being nasty. I just read one article from China Ministry Education about Chinese university students majors selection and current trend.

I will buy you a beer when I visit New York for holidays.

My apology to you and Chinese students.

By the way, if you talk about respect, please look up to the title: Bye, bye B-School......Do you think this title shows respect to B-School. At least, finger point to Baruch College own business school. I hope you know what I mean but I am being nasty.

Cheers,
CK
 
My apology to you and Chinese students.

By the way, if you talk about respect, please look up to the title: Bye, bye B-School......Do you think this title shows respect to B-School. At least, finger point to Baruch College own business school. I hope you know what I mean but I am being nasty.

Cheers,
CK

FYI, the article title is lifted from the New York Times.
 
Very good article. But if you noticed some of the guys mentioned in the article who choose not to get an MBA graduated from Top schools like Harvard. So, it is easier for a Harvard grad to say "bye bye to an MBA" than it is for a SUNY grad like myself. It is very true that hard work will get you very far on wall street, but at the time we all know the school you get your degree from can help you a lot.

True. From my own observations, more and more financial companies tend to hire undergrads from top-tier schools. And there is definitely a trend to hire bright undergrads with background in science/math, and to train them at work, rather than hiring MBA's. If one has brain sharp for physics/math, one is capable of learning financial modeling, too.
I remember a corporate party at Lime Group, where I have chatted with few young guys from Lime's Tower Research Capital and Lime Brokerage. Most of them have been recruited from campuses, or enticed from large investment banks, and had backgrounds in electrical engineering (two guys from IIT in India), computer science and applied math (three guys from TAU, Tel-Aviv - Israel), and a physics undergrad from Harvard. All of them said that they were in top-5 in their undergrad classes, had high GPAs/honors.
Yuriy said:
If I have my own hedge fund one day, I'll just hire people who know accounting :) maybe even from Baruch.
Go for it, Yuriy! =D>
Even though I haven't heard of Baruch undergrads in our field yet (finance/math), the ones who do accounting are happy with it. I'm not a fan of accounting either, but from what I know, Baruch's department of accounting rules!
In our company most of accounting is outsourced to auditing companies. So I only do some managerial accounting and P/L's, without having to worry about standards too much :dance:
One does not need to have MBA to know this level of accounting. Undergrad level is fine; also companies provide training (through companies like Wall Street Prep etc).
Anyways, MBA's are here to stay. Besides all-round education for managers, it gives a tremendous chance for networking and making connections.
 
Thanks

Agreed wholeheartedly. Accounting is not a hard subject. Maths is a hard subject but can learn. Regardless of any background, smart people will stay. Follow our hears, passion is the most important to succeed in long-run.

Thank you. You get all my votes. One to Yuriy.

Cheers,
CK

True. From my own observations, more and more financial companies tend to hire undergrads from top-tier schools. And there is definitely a trend to hire bright undergrads with background in science/math, and to train them at work, rather than hiring MBA's. If one has brain sharp for physics/math, one is capable of learning financial modeling, too.
I remember a corporate party at Lime Group, where I have chatted with few young guys from Lime's Tower Research Capital and Lime Brokerage. Most of them have been recruited from campuses, or enticed from large investment banks, and had backgrounds in electrical engineering (two guys from IIT in India), computer science and applied math (three guys from TAU, Tel-Aviv - Israel), and a physics undergrad from Harvard. All of them said that they were in top-5 in their undergrad classes, had high GPAs/honors.

Go for it, Yuriy! =D>
Even though I haven't heard of Baruch undergrads in our field yet (finance/math), the ones who do accounting are happy with it. I'm not a fan of accounting either, but from what I know, Baruch's department of accounting rules!
In our company most of accounting is outsourced to auditing companies. So I only do some managerial accounting and P/L's, without having to worry about standards too much :dance:
One does not need to have MBA to know this level of accounting. Undergrad level is fine; also companies provide training (through companies like Wall Street Prep etc).
Anyways, MBA's are here to stay. Besides all-round education for managers, it gives a tremendous chance for networking and making connections.
 
Agreed

I sparked some nasty comments earlier. My apology but I have to agree with you too.

For non-US citizens who want to break into Wall-Street, perhaps a top MBA is a good choice. Again, it is not everyone can handle financial mathematics. This subject takes time to build up the fundamental. Time is an issue for outsiders. Similarly, I have a friend who worked as a quant also hates accounting. Same thing, accountants are crunching on numbers but on different perspectives. God is fair. Every profession plays very important role on our socio-economy development. From A-Z, that includes Quants, community workers, doctors.....!
Everyone is significant.

For some very unfortunate who have no background or rich connection, education probably is the best route to leverage their game plans.

Cheers,
CK




Very good article. But if you noticed some of the guys mentioned in the article who choose not to get an MBA graduated from Top schools like Harvard. So, it is easier for a Harvard grad to say "bye bye to an MBA" than it is for a SUNY grad like myself. It is very true that hard work will get you very far on wall street, but at the time we all know the school you get your degree from can help you a lot.
 
I really think that Calvin is playing evil's advocate here in the way he stirred up conversations. If that's the case, I hope it will be his last time doing this.

Just keep in mind that our audience may turn out to be your future classmates or mentors. So it's risky playing with words intentionally or not. The best post is the one unposted.

I'm proud of the fact that Quantnet is a very friendly community that welcomes non-confrontational dialogue and I intend to keep it that way at all cost.

And thanks for posting, Calvin. You really keep the activity up while I'm away. ;)
 
It might be interesting to have a poll with question "what is your position towards accounting, like it or not" :)
 
Ok

Andy,

My apology indeed. I think while we are all pursuing our dreams and passions. Again, when the American dream is still alive, we should also respect other professions even we think that we are smart.

Thanks,
CK

I really think that Calvin is playing evil's advocate here in the way he stirred up conversations. If that's the case, I hope it will be his last time doing this.

Just keep in mind that our audience may turn out to be your future classmates or mentors. So it's risky playing with words intentionally or not. The best post is the one unposted.

I'm proud of the fact that Quantnet is a very friendly community that welcomes non-confrontational dialogue and I intend to keep it that way at all cost.

And thanks for posting, Calvin. You really keep the activity up while I'm away. ;)
 
please

Please, no more. Andy will kick my ass soon.:)


It might be interesting to have a poll with question "what is your position towards accounting, like it or not" :)
 
Beer

My apology. I will buy everyone a beer if I visit NY one day in the future. My promise.
 
Love accountants people!

It might be interesting to have a poll with question "what is your position towards accounting, like it or not" :)

:) Accounting is fun, it is like occupational reality bending...
Manager: "how much is 2+2?"
Accountant (ingratiatingly whispering): "What would you like it to be?"

Love accountants, people! Respect their existence... If not them, YOU would have to bend the reality:

A business owner tells her friend that she is desperately searching for an accountant.
Her friend asks, "Didn't your company hire an accountant a short while ago?"
The business owner replies, "That's the accountant I've been searching for."

By the way, here is an example of quite successful hedge fund manager who used to be an accounting undergrad. From City/Baruch, by the way. Larry Simons is a co-founder Ivy Asset Management Corporation.
 
There are couple of problems that I have with accounting :)
First, the math is very simple and not interesting.
Second, there are so many rules and regulations to follow.
Third, it is very tedious.
Fourth, the phrase "calculate depreciation costs" puts me to sleep :)

Accounting (just one week) was part of Introductory Finance that I took at CMU, and that was more than enough :) I don't remember if I even looked at the accounting problem on the final exam at that time. Its not that I can't do it, but its just boring
 
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