Economics applicant thread UCAS 2014
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What are you all hoping to do after your economics degrees?
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Original post by NedStark
Thanks, yeah hopefully soon!
I sent mine of the 14th as well so they probably have looked at my application but if you don't mind me asking, do you know what time you received the offer? I had to send them additional details which they received at 2pm so that might be the reason for the delay. Just being optimistic though, don't want to think I'd get rejected from Bristol since I'd be absolutely gutted if I was.
I sent mine of the 14th as well so they probably have looked at my application but if you don't mind me asking, do you know what time you received the offer? I had to send them additional details which they received at 2pm so that might be the reason for the delay. Just being optimistic though, don't want to think I'd get rejected from Bristol since I'd be absolutely gutted if I was.
I got the offer in the afternoon.
There are still months to go yet, patience is a virtue. Just because you didn't get one now doesn't mean you won't get one later. Just have the mentality that you're getting them all in March and so anything earlier is an bonus
Original post by Dr Jam
A masters degree in Economics... After that I'm not so sure, but either management consultancy or perhaps some form of marketing or advertising. I might go into investment banking but my dad is an investment banker and has put me off quite a bit.
Do you know what you'd like to do after the degree?
Original post by NedStark
Thanks, yeah hopefully soon!
I sent mine of the 14th as well so they probably have looked at my application but if you don't mind me asking, do you know what time you received the offer? I had to send them additional details which they received at 2pm so that might be the reason for the delay. Just being optimistic though, don't want to think I'd get rejected from Bristol since I'd be absolutely gutted if I was.
I sent mine of the 14th as well so they probably have looked at my application but if you don't mind me asking, do you know what time you received the offer? I had to send them additional details which they received at 2pm so that might be the reason for the delay. Just being optimistic though, don't want to think I'd get rejected from Bristol since I'd be absolutely gutted if I was.
I really wouldn't be worried about a rejection from Bristol if you have been predicted 4 A*'s in your A2's...
Original post by Dr Jam
(I'm open to anything like Banking and Accountancy, but one day i would like to go into social care to enjoy a job of helping others
)Original post by robin1125
A masters degree in Economics... After that I'm not so sure, but either management consultancy or perhaps some form of marketing or advertising. I might go into investment banking but my dad is an investment banker and has put me off quite a bit.
Do you know what you'd like to do after the degree?
Do you know what you'd like to do after the degree?
Well my main preference would be investment banking, and why has it put you off?
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Original post by Dr Jam
Well my main preference would be investment banking, and why has it put you off?
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There's a variety of reasons I've been put off:
1. Banking won't be the same in the UK or the EU for another 30 or so years and you won't necessarily be earning as much as bankers do now. (Legislation is already being put in place at an EU level to limit bankers' bonuses). This means that if you want to earn the kind of money currently being earned you'll probably have to relocate to the US or Asia.
2. If you want to go into investment banking to get rich, then you probably won't be that successful. My dad recently had to reject a guy with a 1st in Economics and Management from Oxford because he only wanted the job for the money rather than to provide a service to the economy.
3. The long hours mean that people often burn out in their late 20's or 30's since they can't deal with the work load. This means that they're at a disadvantage when they swap into another career since they lack the experience in that sector that many of their colleagues of a similar age would likely have.
4. The people you work with and for are other bankers and as a result, quite boring. My mum gets paid significantly less than my dad, but has a far more interesting job in which she knows far more interesting people as a result.
5. If you're good enough to succeed in banking , then you're probably good enough to get paid as well in something more interesting (such as running your own company or whatever else you're interested in).
6. Due to the banking lifestyle many bankers end up on two or three divorces by their 50's (particularly at the crazier and higher paid places like Goldman Sachs).
If you have any specific questions, I could ask him for you, but he seems pretty certain that I would be able to do well in fields other than banking. It's not only as if he's telling me not to go into banking, but he's told a few of my friends that their talents would be better used somewhere other than in banking.
Original post by robin1125
There's a variety of reasons I've been put off:
1. Banking won't be the same in the UK or the EU for another 30 or so years and you won't necessarily be earning as much as bankers do now. (Legislation is already being put in place at an EU level to limit bankers' bonuses). This means that if you want to earn the kind of money currently being earned you'll probably have to relocate to the US or Asia.
2. If you want to go into investment banking to get rich, then you probably won't be that successful. My dad recently had to reject a guy with a 1st in Economics and Management from Oxford because he only wanted the job for the money rather than to provide a service to the economy.
3. The long hours mean that people often burn out in their late 20's or 30's since they can't deal with the work load. This means that they're at a disadvantage when they swap into another career since they lack the experience in that sector that many of their colleagues of a similar age would likely have.
4. The people you work with and for are other bankers and as a result, quite boring. My mum gets paid significantly less than my dad, but has a far more interesting job in which she knows far more interesting people as a result.
5. If you're good enough to succeed in banking , then you're probably good enough to get paid as well in something more interesting (such as running your own company or whatever else you're interested in).
6. Due to the banking lifestyle many bankers end up on two or three divorces by their 50's (particularly at the crazier and higher paid places like Goldman Sachs).
If you have any specific questions, I could ask him for you, but he seems pretty certain that I would be able to do well in fields other than banking. It's not only as if he's telling me not to go into banking, but he's told a few of my friends that their talents would be better used somewhere other than in banking.
1. Banking won't be the same in the UK or the EU for another 30 or so years and you won't necessarily be earning as much as bankers do now. (Legislation is already being put in place at an EU level to limit bankers' bonuses). This means that if you want to earn the kind of money currently being earned you'll probably have to relocate to the US or Asia.
2. If you want to go into investment banking to get rich, then you probably won't be that successful. My dad recently had to reject a guy with a 1st in Economics and Management from Oxford because he only wanted the job for the money rather than to provide a service to the economy.
3. The long hours mean that people often burn out in their late 20's or 30's since they can't deal with the work load. This means that they're at a disadvantage when they swap into another career since they lack the experience in that sector that many of their colleagues of a similar age would likely have.
4. The people you work with and for are other bankers and as a result, quite boring. My mum gets paid significantly less than my dad, but has a far more interesting job in which she knows far more interesting people as a result.
5. If you're good enough to succeed in banking , then you're probably good enough to get paid as well in something more interesting (such as running your own company or whatever else you're interested in).
6. Due to the banking lifestyle many bankers end up on two or three divorces by their 50's (particularly at the crazier and higher paid places like Goldman Sachs).
If you have any specific questions, I could ask him for you, but he seems pretty certain that I would be able to do well in fields other than banking. It's not only as if he's telling me not to go into banking, but he's told a few of my friends that their talents would be better used somewhere other than in banking.
What other career path's are you thinking of?
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Original post by Dr Jam
Actuarial work or becoming an investment analyst
Original post by kiirankapoor
I'm really interested in marketing and the application of Behavioral Economics to advertising. Management consultancy also seems interesting. Both these paths could potentially lead to one day becoming CEO of a large corporation, but that's not that likely and more of an ideal situation for me.
I'd also be interested in going into politics, the civil service (with the Bank of England) or the foreign office working as a diplomat. I've not ruled out going into academia either, but I don't really see myself as being a great teacher or lecturer since I can be quite impatient and demanding...
Original post by Dr Jam
Maths/Econ teacher. As a matter of fact, I'm not doing straight econ I'm doing morse, and that pretty much means I can be a statistician, economist, mathematician etc. so I have a wide range of jobs to choose from.
(edited 10 years ago)
Original post by robin1125
I'm really interested in marketing and the application of Behavioral Economics to advertising. Management consultancy also seems interesting. Both these paths could potentially lead to one day becoming CEO of a large corporation, but that's not that likely and more of an ideal situation for me.
I'd also be interested in going into politics, the civil service (with the Bank of England) or the foreign office working as a diplomat. I've not ruled out going into academia either, but I don't really see myself as being a great teacher or lecturer since I can be quite impatient and demanding...
I'd also be interested in going into politics, the civil service (with the Bank of England) or the foreign office working as a diplomat. I've not ruled out going into academia either, but I don't really see myself as being a great teacher or lecturer since I can be quite impatient and demanding...
Oh wow okay you've actually thought about your future. Im not sure what i want to do and I havent had the opportunity to explore either.
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Original post by Jkizer
I got a Reading offer ABB yesterday.
They emailed me shortly after track updated.
They emailed me shortly after track updated.
oh wow ok this makes me nervous!! when did you send it off? it's my first choice!! well done for it!!
Original post by Dr Jam
Something around accounting, consultancy or investment management (not banking). If I get into LSE I'll try for IB otherwise I'm staying clear of it.
I was thinking academia but I'm hopeless at explaining stuff.
Original post by robin1125
There's a variety of reasons I've been put off:
1. Banking won't be the same in the UK or the EU for another 30 or so years and you won't necessarily be earning as much as bankers do now. (Legislation is already being put in place at an EU level to limit bankers' bonuses). This means that if you want to earn the kind of money currently being earned you'll probably have to relocate to the US or Asia.
2. If you want to go into investment banking to get rich, then you probably won't be that successful. My dad recently had to reject a guy with a 1st in Economics and Management from Oxford because he only wanted the job for the money rather than to provide a service to the economy.
3. The long hours mean that people often burn out in their late 20's or 30's since they can't deal with the work load. This means that they're at a disadvantage when they swap into another career since they lack the experience in that sector that many of their colleagues of a similar age would likely have.
4. The people you work with and for are other bankers and as a result, quite boring. My mum gets paid significantly less than my dad, but has a far more interesting job in which she knows far more interesting people as a result.
5. If you're good enough to succeed in banking , then you're probably good enough to get paid as well in something more interesting (such as running your own company or whatever else you're interested in).
6. Due to the banking lifestyle many bankers end up on two or three divorces by their 50's (particularly at the crazier and higher paid places like Goldman Sachs).
If you have any specific questions, I could ask him for you, but he seems pretty certain that I would be able to do well in fields other than banking. It's not only as if he's telling me not to go into banking, but he's told a few of my friends that their talents would be better used somewhere other than in banking.
1. Banking won't be the same in the UK or the EU for another 30 or so years and you won't necessarily be earning as much as bankers do now. (Legislation is already being put in place at an EU level to limit bankers' bonuses). This means that if you want to earn the kind of money currently being earned you'll probably have to relocate to the US or Asia.
2. If you want to go into investment banking to get rich, then you probably won't be that successful. My dad recently had to reject a guy with a 1st in Economics and Management from Oxford because he only wanted the job for the money rather than to provide a service to the economy.
3. The long hours mean that people often burn out in their late 20's or 30's since they can't deal with the work load. This means that they're at a disadvantage when they swap into another career since they lack the experience in that sector that many of their colleagues of a similar age would likely have.
4. The people you work with and for are other bankers and as a result, quite boring. My mum gets paid significantly less than my dad, but has a far more interesting job in which she knows far more interesting people as a result.
5. If you're good enough to succeed in banking , then you're probably good enough to get paid as well in something more interesting (such as running your own company or whatever else you're interested in).
6. Due to the banking lifestyle many bankers end up on two or three divorces by their 50's (particularly at the crazier and higher paid places like Goldman Sachs).
If you have any specific questions, I could ask him for you, but he seems pretty certain that I would be able to do well in fields other than banking. It's not only as if he's telling me not to go into banking, but he's told a few of my friends that their talents would be better used somewhere other than in banking.
This is BS.
1. It's impossible to predict how far the authorities will go but my guess is not very far and even if they limit bonuses, banks can just raise base pay, there are so many ways around this.
2. Service to the economy? haha, if you say "I want this role because I want to become rich" then I think your chances of getting the job decrease so avoid saying that. So many people just go in for the money. Btw, he wont be the first person to be rejected that has a first from Oxford.
3. Some of the skills you pick up in IB can make you highly employable elsewhere. Also, not everyone is the same, I've met bankers who deal with the hours quite well, they acknowledge the hours are long but they know they can deal with it. FYI, jobs in consultancy have pretty shocking hours too
4. nice generalization of a whole industry...the employees I've met definitely seemed very different to what you described.
5. I know people that are genuinely interested in banking..running your own business isn't as "fun" as people think it is. I know this by personal experience working with 2 start ups (outside of university).
6. Please show me the stats/proof. Ridiculous generalization...
Don't form an opinion on IB before you get a better idea of it. Knowing one person who works at a bank is a **** sample to make decisions on...
Original post by KD35
....
Ikr, service to the economy seems like a stupid reason to reject anyone.
Original post by KD35
x
It's not bull ****, it's just what a relatively senior and high earning banker who is also my dad has told me to convince me not to go into investment banking... If you still want to go into banking, by all means do. But in my opinion, far too many people choose economics as a degree choice because they want a fast track to the city and earn loads of money.
Original post by Dilzo999
Ikr, service to the economy seems like a stupid reason to reject anyone.
You say that, but that's is what many bankers see there job as. They see it as a lending service to provide money to small to large businesses to help expand the economy. Not some system for clever people to get rich quick and retire in their 40's
Original post by robin1125
But in my opinion, far too many people choose economics as a degree choice because they want a fast track to the city and earn loads of money.
That's the annoying part. So many people do Economics for IB rather than loving the subject over all.
Original post by robin1125
You say that, but that's is what many bankers see there job as. They see it as a lending service to provide money to small to large businesses to help expand the economy. Not some system for clever people to get rich quick and retire in their 40's
That's completely wrong. Investment banks do not exist as a 'service to the economy'. In fact, the opposite.
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