College degree help

[prt_systems]

Quote from Catoosa:

I got a mechanical engineering degree in 1967 and then spent 18 years working in the design and manufacturing of nuclear power systems. ...

I have always thought it pathetic that the most experienced engineers and scientists are almost universally cut or lanquish after helping develop new industries and technologoes:

Unfortunately the mode of operation in engineering and science in the United States is that once you complete an invention and implement it you are now in a position to be fired. In other words, even as an employee, you simply live project to project in fear of your job with little value seen from above on your accomplishments - even if you make the company or government millions of dollars through your efforts, at which time if you are a senior engineer or scientist and you are considered over compensated and next on the layoff list.

 

[blackfrankwhite]

I just graduated from Penn State with an accounting degree and have a job as a staff accountant

Anyway - MS in accounting is pointless

If you have your CPA, you are as good as the next accountant

If I were you Id get the finance/comp sci degree and take as many accounting classes as you need for your CPA
(if accounting interests you, if not screw it)

Google "Michigan State CPA requirements"
If you do get your finance/comp sci dual degree I am 99% sure you will have the all-most national standard of 150 credit hours (or your schools equivelent, however id me suprised if Penn State and Mich State are that much different)

I agree with the above posts that a law degree is where its at. Dont get your masters, get a JD/LLM

youll be money

 

[Mike805]

Quote from prt_systems:

I have always thought it pathetic that the most experienced engineers and scientists are almost universally cut or lanquish after helping develop new industries and technologoes:

Unfortunately the mode of operation in engineering and science in the United States is that once you complete an invention and implement it you are now in a position to be fired. In other words, even as an employee, you simply live project to project in fear of your job with little value seen from above on your accomplishments - even if you make the company or government millions of dollars through your efforts, at which time if you are a senior engineer or scientist and you are considered over compensated and next on the layoff list.

You are making some general and biased statements here. I will be the first to say that your are presenting an opinioned viewpoint that holds little fact; other than an account of possibly your own experiences. Words like "almost universally" should be a warning flag to anyone here.

Look, I took the engineering route - a lot of schooling. I went into a grad program at USC for EE and I will be the first to say that the rewards, monetary and intellectual are significant. While there is a salary cap for senior level, please consider the fact that starting salaries are high for entry level engineers. You will be able to make decent money straight out of school which will then allow for investing and saving at an early age. This is a serious consideration - the earlier you start utilizing the power of compounding, the earlier you will be able to realize you monetary goals.

I do not feel like I am alone in my viewpoints either - I have several friends who are still in engineering and they all enjoy it. It can be fun and enjoyable - I certainly enjoyed it and would recommend it to anyone with the mental aptitude. You can go very far in engineering if you are good at what you chose to do.

To the OP,

Trading is a difficult profession that requires both capital and patience. The learning process costs money and time.

I recommend you create a solid financial foundation from your career efforts before you start trading. Get the best possible degree, engineering or otherwise and use it to get a good paying job. Contrary to what certain people here believe, engineering is a financially rewarding discipline, but, like anything worthwhile, it takes time and effort.

Regards,

Mike

 

[prt_systems]

Quote from Mike805:

You are making some general and biased statements here. I will be the first to say that your are presenting an opinioned viewpoint that holds little fact; other than an account of possibly your own experiences. Words like "almost universally" should be a warning flag to anyone here.
.....

Contrary to what certain people here believe, engineering is a financially rewarding discipline, but, like anything worthwhile, it takes time and effort.

I think its a red flag when people paint an unrealistic picture of a profession.

No, these aren't my experiences. I own two technical firms and have numerous patents and awards. However I see the writing on the wall: most of my colleagues have moved their operations overseas or are planning to do so. These are not unknown little operations but some of the biggest players in tech in the US.

That said, I stick with my analysis. I am in constant contact with people at the top of the engineering and technical business in the US. The priorities are not to treat their engineers and scientists well - except at a few exceptional firms like my own where I control things and we have a unique market niche.

Some people think that 100K ballpark job is good compensation for 7-10 years of prep work on your own dime and time. I do not.
Moreover the trend is to move as much as possible offshore.

Ask most engineers if they think its a long term viable career and they will answer no, as evidenced by the well published numbers of the average lifetime of an engineer in the profession and the average lifetime earnings.

So, if you truly love engineering and science then do it but understand that you probably wont have a good stable career in the future if that is your only recourse for making money.

Dont listen to people that paint simplistic overly optimistic views of the profession for their own ends ...

 

[JA_LDP]

wow, I've thought about this a long time and I have talked with a few double business/engineering majors and they highly recommend doing it even though I will be in school an extra 4-5 years getting a comp eng degree. This is what I've have been thinking of lately and it seems the most realistic because I need to acquire some worth and save some money.

I will graduate in finance and get some financial job for a few years. Assuming I become a lot more profitable in the future trading, I can then get a JD/MBA or comp eng going part time so I can trade during the day and then go to class in the evenings 4 days a week. This wont necessarily take longer either because i'll take summer classes as well. I like this better than going to school full time for 5 years, not having any type of real income.

 

[SwingOutOn5]

well, you need to decide what you really want to do. You say that you are thinking about trading, but what do you mean? Continuing to trade retail, prop, what? I'm doing the MBA thing right now, and I can tell you, it's pretty damn useless to trading. All I do is sit in class and trade all day - the only way to learn is to trade (at least, that's what I've heard and experienced thus far). I know I'm probably too young to be giving you career advice, but don't think an edumacation is the holy grail to trading.

It will be nice to have the degrees to fall back on, but you have to ask yourself how committed to trading are you? Are you willing to take time to go to school instead of joining a shop and trade your butt off? At the beginning of my MBA program, I was not, but every day I think about just up and leaving.

Well, just charge that $.02 to my PnL for the day....

good luck and happy trading!

 

[jem]

I think the statement about networking was the best advice. Start getting into see the decision makers.

I always thought a student should go to the student newspaper and write some articles.

Then use reporter status to decide to write some articles about career paths.

Use contacts in from your alums to interview the most succesful decisions makers. Get in talk to these guys or women. Ask them thoughtful questions. If you have any people skills at all you will have them watching out for your career by the time you have to make some decisions.

Also do some interviews with your professors. Any professor who was once in the Private sector probably has pull. They can get you any position you really want. Even interview grad students who came from big places. They might know people.

Before you know it you will be a networking machine and a top author with a best selling book and columns in business magazines and appearances on CNBC live at conventions from around the world where you are paid to speak.

Then you can do infomercials and be surrounded by Hawaiian tropic girls. You won't have time to think about inefficiences in maturing electronic markets.