Question 1

Do I need to go to a target school for finance?

Accepted Answer

For investment banking, private equity, and top hedge funds — yes, mostly. Wharton, Stern, Ross, Haas, Sloan, McIntire, Ivey, LSE, and similar dominate the pipeline. For corporate finance, financial planning, and commercial banking — no, any decent business program works. Know which lane you want; the target-school rule doesn't apply uniformly.

Question 2

What's the CFA?

Accepted Answer

Chartered Financial Analyst — 3 exams, roughly 300 hours of study each, about 4 years total. The premier credential for investment analysis, portfolio management, and research. Not needed for IB or corporate finance; highly valued in asset management and equity research. Expect to start studying in junior year if that's your target.

Question 3

IB vs. corporate finance — what's different?

Accepted Answer

IB: advise companies on M&A, IPOs, and debt issuances. 80+ hour weeks, $110–150k + bonus starting, 2–3 year analyst program, most exit to PE or corporate after. Corporate finance: work inside a company on budgeting, FP&A, treasury. $65–90k starting, 40–50 hour weeks, slower climb. Both lead to CFO eventually; IB pays more faster but burns people out.

Question 4

Finance vs. accounting — which?

Accepted Answer

Accounting: rules-based, CPA track, steady demand, clearer entry path. Finance: markets and deals, higher ceiling, higher variance, more resume-driven. Most corporate finance roles will hire either major. If you're not sure and want the safest income path, pick accounting. If you want the highest ceiling and are willing to bet on it, pick finance.

Question 5

Is financial planning a real career?

Accepted Answer

Yes — +10% growth and genuinely client-facing. Most advisors start at a wirehouse (Merrill, Morgan Stanley, Edward Jones) or an insurance-adjacent shop, get their Series 7 and CFP, then build a book over 5–10 years. Top-25% advisors make $250k+. Bottom 25% wash out in year 2 when cold-calling doesn't produce enough clients.

Question 6

Will AI take finance jobs?

Accepted Answer

Entry analyst work (pulling data, building standard models, drafting memos) is already partly automated. Tellers, clerks, and simple underwriting are shrinking 5–15%. Client-facing, judgment-heavy work (advising, IB client management, PE deals, CFO-track roles) is safer. Stay on the judgment side, not the data-pull side.

Finance in 90 seconds — before you read the full brief.

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University of Pennsylvania vs. Washington University in St Louis

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