Title: Are IB/HF/PE/VC Losing Interest in Degrees?
I recently had a conversation with a partner in PE at a pub in London, who expressed that top financial institutions are starting to see degrees, masters, MBAs, and similar qualifications as mere intellectual participation trophies. Is this viewpoint isolated to individual opinions, or is it becoming a widely held belief?
According to him, engaging in activities such as Poker, Chess, Go, trading with your own money, or even playing video games like World of Warcraft can provide more insight into the world of finance than traditional study. Do you agree with this perspective, or do you think it’s just the drunken ramblings of an office worker?
One response
It is important to consider that the opinion expressed by the partner in PE at the pub may be biased and not necessarily representative of the entire industry. While it is true that some top financial institutions may prioritize practical skills and experience over traditional degrees, it would be inaccurate to say that degrees are completely irrelevant.
In the fields of Investment Banking (IB), Hedge Funds (HF), Private Equity (PE), and Venture Capital (VC), a strong educational background is still valued, especially when it comes to roles that require technical knowledge or expertise in specific fields like STEM subjects. However, it is also true that practical experience, soft skills, and a proven track record of success can sometimes outweigh traditional educational credentials.
The idea that playing games like Poker, Chess, or engaging in activities like trading or gaming can teach valuable skills relevant to finance is not entirely unfounded. These activities can help develop strategic thinking, risk management, decision-making skills, and the ability to work under pressure – all of which are important in the finance industry. However, it is important to note that these activities alone may not be sufficient to secure a position in IB, HF, PE, or VC without the necessary educational background or experience.
Ultimately, it is likely that the importance of degrees in the finance industry varies from firm to firm and from role to role. While some organizations may place more emphasis on practical skills and experience, others may still value traditional educational qualifications. It is important for individuals interested in pursuing a career in finance to consider a balance of both formal education and practical experience to increase their chances of success in the industry.