How to prepare for Finance

Preparing for a Career in Finance

I’m excited to share that I’ll be attending Wharton, and I’m eager to start preparing for a career in finance. I’d love to hear your recommendations on what I should focus on, especially in terms of study materials on YouTube, Excel modeling techniques, and any other resources that would be helpful.

As someone who’s new to this field despite getting into Wharton, I would greatly appreciate a step-by-step guide on what to do before and during college. If you could share any mistakes you made in college that you wish you could change, that would be incredibly valuable too.

Additionally, if you have any specific book recommendations that cover technical skills or general finance knowledge, I’d love to hear them. I just started reading Warren Buffett’s essays, which were a gift, but I’m open to exploring more! Thank you!

Congratulations on your acceptance to Wharton! That’s an amazing achievement and a great step toward your career in finance. Here’s a play-by-play on how to prepare, along with some resources and tips that might help you:

Pre-College Preparation

Excel Skills:
YouTube Tutorials: Start with channels like “ExcelIsFun” or “Excel Campus” to understand the basics. Look for tutorials specifically on financial modeling and functions like VLOOKUP, PivotTables, and data visualization.
Online Courses: Consider platforms like Coursera or LinkedIn Learning for more structured Excel courses specific to finance.
finance Fundamentals:
Basic Concepts: Familiarize yourself with concepts like time value of money, financial statements, ratios, and valuation methods. Investopedia is a great resource.
YouTube Channels: Channels like “The Plain Bagel” and “Aswath Damodaran” provide insightful explanations on financial concepts and valuation.
Financial Modeling:
Learning Resources: Websites like Wall Street Prep or Breaking Into Wall Street offer financial modeling courses which are highly regarded.
Practice: Use Excel to create basic models (like discounted cash flow) based on publicly available financial statements of companies you’re interested in.

Books to Read

“The Intelligent Investor” by Benjamin Graham: A classic on value investing.
“Common Stocks and Uncommon Profits” by Philip Fisher: Offers insights on analyzing stocks.
“Financial Modeling” by Simon Benninga: A comprehensive guide to financial modeling techniques.
Warren Buffett’s Letters: Since you’ve started reading his essays, continue with his annual letters to Berkshire Hathaway shareholders; they offer great insights into investment philosophy.

During College

Networking:
Attend finance-related clubs, workshops, and events at Wharton. Networking will help you understand the industry better and create valuable connections.
Use platforms like LinkedIn to connect with alumni and professionals.
Internships:
Seek internships early; even if they are unpaid, the experience will be invaluable. Aim for roles in investment banking, asset management, or corporate finance.
Courses:
Take foundational courses in finance, Accounting, and statistics early in your curriculum. Look for electives that focus on advanced financial modeling and investment analysis.

Mistakes to Avoid

Procrastination: Don’t wait until the last minute to learn skills or study subjects. Finance is cumulative, and grasping foundational topics early will help with more complex concepts later.
Neglecting Soft Skills: While technical skills are essential, communication, teamwork, and leadership are equally important. Join clubs or participate in group projects to build these skills.
Overloading Yourself: Don’t take too many courses too quickly. Balance your coursework with extracurricular activities to avoid burnout.

Additional Resources

Podcasts: “Planet Money” and “The Indicator” provide accessible insights into current economic and finance topics.
Finance Blogs: Follow blogs like “A Wealth of Common Sense” by Ben Carlson for applicable advice on investing and financial markets.

Conclusion

Starting your journey in finance can be overwhelming, but taking small, consistent steps will build your knowledge and confidence. Embrace the learning process, and don’t hesitate to reach out to professors and peers for guidance. Good luck at Wharton!

One response

APAdmin

13 March 2025 at 3:40 PM
Congratulations on your acceptance to Wharton! That’s an amazing achievement and a great step toward your career in finance. Here’s a play-by-play on how to prepare, along with some resources and tips that might help you:

Pre-College Preparation
1. Excel Skills:
2. YouTube Tutorials: Start with channels like “ExcelIsFun” or “Excel Campus” to understand the basics. Look for tutorials specifically on financial modeling and functions like VLOOKUP, PivotTables, and data visualization.
3. Online Courses: Consider platforms like Coursera or LinkedIn Learning for more structured Excel courses specific to finance.
4. finance Fundamentals:
5. Basic Concepts: Familiarize yourself with concepts like time value of money, financial statements, ratios, and valuation methods. Investopedia is a great resource.
6. YouTube Channels: Channels like “The Plain Bagel” and “Aswath Damodaran” provide insightful explanations on financial concepts and valuation.
7. Financial Modeling:
8. Learning Resources: Websites like Wall Street Prep or Breaking Into Wall Street offer financial modeling courses which are highly regarded.
9. Practice: Use Excel to create basic models (like discounted cash flow) based on publicly available financial statements of companies you’re interested in.
Books to Read
- “The Intelligent Investor” by Benjamin Graham: A classic on value investing.
- “Common Stocks and Uncommon Profits” by Philip Fisher: Offers insights on analyzing stocks.
- “Financial Modeling” by Simon Benninga: A comprehensive guide to financial modeling techniques.
- Warren Buffett’s Letters: Since you’ve started reading his essays, continue with his annual letters to Berkshire Hathaway shareholders; they offer great insights into investment philosophy.
During College
1. Networking:
2. Attend finance-related clubs, workshops, and events at Wharton. Networking will help you understand the industry better and create valuable connections.
3. Use platforms like LinkedIn to connect with alumni and professionals.
4. Internships:
5. Seek internships early; even if they are unpaid, the experience will be invaluable. Aim for roles in investment banking, asset management, or corporate finance.
6. Courses:
7. Take foundational courses in finance, Accounting, and statistics early in your curriculum. Look for electives that focus on advanced financial modeling and investment analysis.
Mistakes to Avoid
- Procrastination: Don’t wait until the last minute to learn skills or study subjects. Finance is cumulative, and grasping foundational topics early will help with more complex concepts later.
- Neglecting Soft Skills: While technical skills are essential, communication, teamwork, and leadership are equally important. Join clubs or participate in group projects to build these skills.
- Overloading Yourself: Don’t take too many courses too quickly. Balance your coursework with extracurricular activities to avoid burnout.
Additional Resources
- Podcasts: “Planet Money” and “The Indicator” provide accessible insights into current economic and finance topics.
- Finance Blogs: Follow blogs like “A Wealth of Common Sense” by Ben Carlson for applicable advice on investing and financial markets.
Conclusion

Starting your journey in finance can be overwhelming, but taking small, consistent steps will build your knowledge and confidence. Embrace the learning process, and don’t hesitate to reach out to professors and peers for guidance. Good luck at Wharton!
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