Which is a better minor to complement an economics major joining the finance industry?

David N: Which is a better minor to complement an economics major joining the finance industry?
Hello everyone. I’m a student at Rutgers University and I’m planning on majoring in economics and becoming a Financial Analyst or Investment Banker. Which is the better minor to aid me in my career: Psychology or Political Science?

Thank you in advance.

Answers and Views:

Answer by 8
Accounting or mathematics. Psychology or poli sci won’t do much for what you’re aiming for. If you enjoy those fields go ahead and do it. Just don’t expect much because most people regard those as BS majors even if this isn’t the case.

You should consider accounting for work. Work at an accounting firm and go for a CPA. You can do this with an econ major if you have enough accounting classes. Look at the requirements. Then get an MBA after you have your CPA and a good amount of jobs would open up for you.

Or take math if you want to go to grad school in economics or finance. Finance isn’t doing so hot as an industry. If you don’t have relevant internships in finance by the time you graduate, you very likely won’t get those jobs. It’s really competitive. Go for accounting. There is a shortage in that area. Good luck.

Answer by educado
Hello,

I also majored in economics and another subject; I chose government.

For finance industries, I have learned that Political Science is better than Psychology unless you are going to actually be doing a lot of trading during market extremes calling the trades yourself as a short-term trader. That is a rare thing nowdays, as most people use technology to make their own trades or go through brokers who use technology.

As for politics, there is a good deal of government involvement, regulation, and interference (picture all the securities laws, the SEC, the secretary of the treasury, etc) that greatly influence and effect the private sector and the nation’s finances.

If you are interested in adding either psychology or political science to your economics major, either one may help your GPA, but from my experiences and studies, choose political science.

I had interest in both and thought they were both the most important and influential to study for my field of interest.
I do not regret it. Remember that the US governement is the nation’s single largest employer. Many world markets have even more government involvement and interference in the economies of their countries, and they are increasingly growing and globalizing. I would recommend classes in comparative government and international economics in particular.

Best of luck with the major!