Friday, May 20, 2022

Computer Science Vs Finance Major

I have heard professionals in the field of finance tell me many times that they wish that they would have gotten a degree in computer science and vice versa i've heard professionals in the field of computer science tell me the same thing about finance the truth is people who are interested in one of .

These fields are likely to have an interest in the other one a little bit about me and why you might even want to listen to me on this subject is i have a bachelor's in finance a master's in finance and i am currently pursuing a master's in computer science so i know a bit about both worlds .

And let's get into which one might be best for you for the first category salary i'm going to give the edge to computer science i've looked at forbes.com u.s news pay scale and monster.com and found that on every single list computer science is consistently ranked ahead of finance .

Now that's not to say that finance is a bad major in terms of salary in fact that is not the case at all finance is a high paying major as well and typically listed in the top 25 of most highly paid bachelor's lists but computer science would typically be found in the top 10 or the top five of these lists and that's just .

Because right now at this point in time computer science is typically more highly in demand than finance for the second category difficulty i'm going to give the advantage to finance and what i mean by this is that finance is actually an easier major to achieve if you go .

Down the route of computer science you're going to be spending a lot of nights and weekends studying and working on homework assignments where the rest of your peers in college are actually out having a good time and socializing that's just because of the nature of computer science it is intensely time .

Consuming for a lot of these tasks making uh code compiled properly working through all the debugging errors it's not as subjective as finance where a lot of the um homework you can it's basically on a piece of paper with a pen and it's just not nearly as time consuming and .

So for that reason i think if you go through college with a finance major you're probably gonna enjoy it a bit more than computer science for the third category entrepreneurship potential i'm gonna give computer science the clear advantage now this isn't something that people .

Talk about often but when you learn computer science and you learn how to program you're also conditioning yourself in a way to think outside of the box and think about uh possible products or software's or websites that don't currently exist or .

A niche that you can fit in and you have these tangible scales where you can develop these ideas that come into your head um with finance i would say that i didn't really have the same sort of i way to think about ideas when i was pursuing these degrees as i did when i .

Started my master's in computer science um one thing to be said about entrepreneurship and having a major in finance is that you might actually understand the expense revenue business valuation side of things a little bit better and the bookkeeping .

Behind it but you might not have the same sort of entrepreneurship idea generation as a computer science major for the fourth category necessity of the degree i'm gonna give the advantage to finance so in the field of finance you need at minimum a bachelor's degree in finance to really land .

Any of these uh more desired finance positions and in a lot of cases you might even need a masters in finance you're not really gonna get beat out for a job by someone that might have a you know a two-year associate's degree in finance or high school education or a self-taught professional in finance i mean if you got that bachelor's degree .

In finance that's the threshold in the field of computer science there's all these code boot camps even uh two years associates degree if someone really knows how to code they can beat you for the job even if you have a bachelor's in computer science .

Just because they might be a better programmer so i think in computer science you don't necessarily even need a degree in computer science you just need to be able to program properly whereas finance that is a minimum threshold that you have a bachelor's degree for the fifth category future of the .

Profession i'm going to give the edge to computer science we are already seeing a lot of jobs in the financial services industry being eaten by automation on automation is driven by uh computer science uh professionals so i've sent the chair of a lot of different finance roles in my career thus far and .

Some of them i've i've seen are very likely to be automated in the near future a lot of people in the field of finance spend a lot of time doing very routine tasks in microsoft excel or other software's where they're doing kind of a a very similar step-by-step .

Process on a daily monthly basis where in the future likely a software engineer or someone who's a professional programmer will be hired to automate the process that a lot of these finance professionals are currently doing and also in the field of asset management and investments .

We've seen a trend away from active management so active management is when uh humans are actually using their skill and judgment in choosing investments to produce some sort of return and and we're seeing less money pushed towards that and more money pushed towards passive management .

Which is basically just automated systems of investing in index funds or exchange traded funds that just simply match an index and so um i mean this trend from passive or active management to passive management is another hint towards the future of finance being cannibalized .

By certain jobs in computer science now this certainly won't be the case for all of jobs and finances there's a lot of human interaction in some of these roles like consulting and certainly financial sales but overall i think and this is my opinion that we might see a shift in a reduction in .

Jobs in finance over the next 20 30 years and for the final category enjoyment i'm calling this one a tie now this is entirely based on people's individual preferences and personalities i'll say this for the field of computer science this is largely going to be more appealing to people with .

Introverted personality types as you spend a lot of the day uh working on problems working through these uh complicated issues by yourself staring at a screen in the field of finance there certainly is a lot of staring at a screen by yourself but there's certain roles within finance .

That might be aimed more towards extroverts like i said previously like consulting financial sales related jobs will have a lot of face-to-face human interaction where success in these positions is dependent on the skill of a person's uh on interpersonal skills .

And so certainly there's some overlap between finance and computer science when you're talking about finance positions that are more technical in nature more quantitative or more analytical but there's a broader spectrum of roles i would say within the financial .

Services profession in terms of extroverted versus introverted personality types no matter which of these two majors you choose they're both great choices as they're in high demand highly compensated and a lot of different career paths to go for either one i wish you the best of .

Luck in making your decision if you liked this video please subscribe to the channel for more just like it and let me know in the comments if you have any further questions on the uh career paths or differences in degrees between finance and computer science .

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