Should I Switch from Physics to Economics for Financial Stability?

[luxhydrus]

Hello everyone,

I've always been naturally talented in physics and mathematics, however i am thinking of switching majors to economics and business for financial reasons in the future.


I have a passion for physics and math and so I will study them privately, but being financially stable and independent is also very important to me.


What do you think i should do?

 

[DrummingAtom]

I'm pretty sure that was the fastest bump in the history of PhysicsForums.

 

[luxhydrus]

I'm sorry it's just that i need to apply for my major in two days.

 

[QuarkCharmer]

This really depends on your definition of financially stable.

 

[DrummingAtom]

I'd recommend that you search the forums and find what others have said already.

If being financially stable is more important than doing what you like then you already know the decision. If you won't be happy doing economics/finance then you also know that decision. A big question is what do you want to do with your education?


Can you be more specific with your questions?

 

[Antiphon]

Not enough info.

Who are you inside? Dont answer here, answer to yourself.

How much money do you need? Why?
How good are you at not doing what you like? Who are you doingit for? What happens if you fail? What is failure to you? How will you know if you've succeeded at you career? In life?

You should have been getting these answers in the last two years. Two days is not enough time to get to know yourself.

In the absence of other info, do what you enjoy. You can make good money doing nearly anything if you're good at it.

 

[bcrowell]

Are you planning on getting just an undergraduate degree, or are you planning on going to grad school? Are you at a top school or one that is not a big name? Are your grades good? "Financially stable and independent" sounds like an extremely low standard to me. Does that basically mean not being on welfare?

 

[johng23]

You can tell yourself that you will study physics and math privately, but chances are that won't last too long. Sure, you say you have a "passion" for it, but the process of learning physics and math to a high level requires a substantial amount of effort which provides no immediate gratification. So most likely your "private study" will reduce to reading wikipedia articles about science (or the equivalent), as you'll be busy thinking about and dealing with the life you chose. It's a completely different thing from actually studying and becoming a physicist/mathematician.

Maybe you're someone who can truly devote yourself to physics and math study while leading a completely unrelated life and career. But that's extremely rare. So just be honest with yourself if all you're doing is using the "self-study" card to ease yourself into the idea of turning away from what you enjoy.

 

[yungman]

There is not much money in Physics, but you get enjoyment out of it. WHICH to me is very important.

What make you think you can earn a lot of money in business? If your heart is not in it, you can do badly. It is a big mistake to follow the money instead of following your heart.

I hated my major when I graduated and I determined to get into a career that I am passionate in the late 70s. I found electronics which is close to physics and I made a good career out of it. I became a Sr. Engineer and then became manager of engineering for over 10 years, publishing papers in scientific journal and own pattern. Till today even I am not working, I still study everyday in physics and electronics. I am not rich, but I can live comfortably not working since I turn 52 and own real estates. So as long as you have the passion, you'll find your way to do well.

Follow your heart, not the money, afterall, happiness is the most important thing in life. 40 50 hours week working on something you don't really like and keep thinking "what if" is a long torture.

 

[Choppy]

I've always been naturally talented in physics and mathematics, however i am thinking of switching majors to economics and business for financial reasons in the future.

Have you looked at any data on income as a function of undergradaute major? Not that it's a be-all and and end all thing, but the statistics I've seen usually place physics majors ahead of business and economics majors. In fact, physics majors tend to do quite well on average - although they do seem to have a broader distribution of salaries. Search AIP + statistics for example.

 

[johng23]

I would also add that having an undergrad in physics doesn't prevent you from going into the business side of things. Lots of people in business have some random major which doesn't relate to what they do. At least with physics people generally think you're intelligent. If you have good business instincts and the right personality, you can work your way up in the business world and most people will never even know what your major was. And if you don't think you have the right instincts or personality, then a business degree isn't going to help you.

 

[micromass]

I think you're asking in the wrong forum. Of course we tell you to do physics, we all made that decision here. If you ask economy or law majors, then they probably tell you to follow the money.

I personally would do something I enjoy. Doing things for the money is stupid. And besides, there are no physicists out there who are living in cardboard boxes either. So you might not make the most money, but you do make enough to make a living.

 

[luxhydrus]

Thank you all for the reply,

i know that loving it is very important, but even though i am good in the subjects, my overall G.P.A. is not good, and I've been reading that academic jobs for science ph.d.'s are very limited.

and yet business isn't all that interesting, but if i could maintain a high GPA and get into a good job after undergraduate.
maybe my real question is: I am good and like math/physics, but my GPA is pretty low, should I remain on this path, or switch to something financially rewarding, while enjoying math/physics as a hobby?

 

[micromass]

What is "not good"?

 

[ParticleGrl]

And besides, there are no physicists out there who are living in cardboard boxes either. So you might not make the most money, but you do make enough to make a living.

But this is irrelevant to the original post. The overwhelming majority of undergrad physics majors don't work as physicists. Many (perhaps even a slight majority) of phd physicists don't actually work as as physicists.

Now, as to the original post- a physics undergrad degree should familiarize you with programming, and applied math. These are useful skills, and with some effort you can market yourself into a variety of fields, including business or engineering if you want to go that way. It will be a bit harder to get that first job then a degree with a more set career-path (like engineering). In general, your undergraduate degree is as useful as your ability to sell it.

A phd is a completely different issue.

 

[luxhydrus]

But this is irrelevant to the original post. The overwhelming majority of undergrad physics majors don't work as physicists. Many (perhaps even a slight majority) of phd physicists don't actually work as as physicists.

Now, as to the original post- a physics undergrad degree should familiarize you with programming, and applied math. These are useful skills, and with some effort you can market yourself into a variety of fields, including business or engineering if you want to go that way. It will be a bit harder to get that first job then a degree with a more set career-path (like engineering). In general, your undergraduate degree is as useful as your ability to sell it.

A phd is a completely different issue.

Yep if i choose to remain in math/physics then its to pursue a phd for sure.

 

[PCSL]

First off, major deadlines mean nothing. You can always switch. Secondly, why waste your life doing something you don't enjoy just for "financial reasons in the future".

 

[yungman]

But this is irrelevant to the original post. The overwhelming majority of undergrad physics majors don't work as physicists. Many (perhaps even a slight majority) of phd physicists don't actually work as as physicists.

Now, as to the original post- a physics undergrad degree should familiarize you with programming, and applied math. These are useful skills, and with some effort you can market yourself into a variety of fields, including business or engineering if you want to go that way. It will be a bit harder to get that first job then a degree with a more set career-path (like engineering). In general, your undergraduate degree is as useful as your ability to sell it.

A phd is a completely different issue.

+1

If you have a good math background, it is very easy to switch jobs and major. You don't even have to choose major, business classes are quite easy. I took the first year econ and accounting, they were piece of cake. That's why so many people go into business major. I don't think you can say they earn more money.

It is also easy to switch from physics to engineering, programming and other related fields. Where as if you are not a lawyer or become high up in the management, it is going to be very hard to earn a lot of money either. A lot of graduates from business major end up working in low pay jobs also because there are so many of them.

 

[Hioj]

Why limit yourself to just one of them? Take 1 then take the other afterwards.

Why do you say that there are no money in physics? It all depends on what you do with your abilities and your creativity.

 

[Pengwuino]

One thing to realize is that business majors are quite honestly on the fast track to being worthless the way the world is going. There is absolutely no guarantee of a good job or even a job depending on how little or how much motivation you have.

Why do you have a low GPA? If you have a low GPA, that is usually a sign of a bad work ethic which means you have no chance of making it as a physics major

 

[ParticleGrl]

One thing to realize is that business majors are quite honestly on the fast track to being worthless the way the world is going. There is absolutely no guarantee of a good job or even a job depending on how little or how much motivation you have.

What makes you say this? The stats I've seen suggest that an MBA is much more valued than a phd in any field.

 

[Pengwuino]

What makes you say this? The stats I've seen suggest that an MBA is much more valued than a phd in any field.

I should have stipulated just a BA. MBAs are a different story.

What really is happening is at the undergraduate level, people are "defaulting" into various business majors and many of them in up being worthless to students who didn't really WANT to be in business.

I suppose this probably isn't the case for the OP since I would bet he would go through to an MBA.

 

[twofish-quant]

There is not much money in Physics, but you get enjoyment out of it. WHICH to me is very important.

There is a huge amount of money in physics. The issue with a physics degree is that it's not one of those things that you get the degree and your career is all mapped out for you. You get the degree, and then you figure out what you do with the degree. Personally, it's worked out nice for me.

Till today even I am not working, I still study everyday in physics and electronics. I am not rich, but I can live comfortably not working since I turn 52 and own real estates. So as long as you have the passion, you'll find your way to do well.

You are probably doing more or less as well as people that went into business or finance.

 

[yungman]

What makes you say this? The stats I've seen suggest that an MBA is much more valued than a phd in any field.

In many fields, not compare to physics! I worked with a lot of PHDs in physics before, my former boss is a PHD in physics and he is the CTO of the company and I know he earned over 100k in the 90s. I have a friend who is a PHD and he is a director in Lardkeed?? Martin and he earn 160K now.

I know a woman who got MBA 4 years ago and still live in her younger brother's condo! So it all depends. If you are good, you earn money in any career, if you are not, you be screwed no matter what career!

As I said, you are not limited to physics, with this major, you can branch into other fields. Take more classes in electronics, computer programming etc. Particular in software, it is not the programming language that get you into the field, I worked with a lot of scientific programmers and firmware engineers. They need to know a lot of math and physics to write the programs. Programming languages are just tools, it is still the physics and math behind it. I know people that wrote programs using Fourier transform for image processing, electro statics for mass spectrometers etc. You don't just know C++ and start writing those programs. Yes it is a programming job, but it is all physics and math! Who can't learn a programming language, shoot ! I remember I learned Pascal in a month when I had to to do programming in the late 70s and early 80s!



To Luxhydrus

I won't be concern about whether you can earn money with physics major. I am more concern with your GPA. Question is really whether what you consider good in physics and math is really good enough. Don't mean to sound offensive. If you don't get good grades particular in a so so public college like those state univ. Then you really have to stop and evaluate the situation. Physics is not an easy subject and require a lot of sacraficing, burning midnight oil, no partying and button down to study. Can you hack this?

If you are in those ok state U or junior college, you better get A's in physics and calculus. I don't care about your other non major grades, you better get straight A's or close if you are in one of those "feel good" state U! I took a class in ODE few years ago, one third of the student got A's. I competed and got the highest score in the class! Those public schools have to make it easy for you to get good grades by taking best two out of three exams, counting 25% for homework where you just scrible and get the score! I just check on the electromagnetic class for physics major in San Jose State Univ. It is exactly like this...for such an important class. So please re-access youself also. That is the reason I am studying on my own rather than to enroll in those. And I don't want to spend a lot of money to go the Stanford or Santa Clara where they are the only two in my area!

 

[twofish-quant]

What makes you say this? The stats I've seen suggest that an MBA is much more valued than a phd in any field.

I'd like to see those stats, because I'm extremely dubious.

One thing about MBA's, is that there is a huge difference between the big name schools and the no name schools. An MBA from Harvard will simply get you a lot further than an MBA from Frank's Business School, whereas even a physics Ph.D. from a no-name school happens to be impressive in industry.

This is a big problem with business and law degrees because people are finding that their business and law degrees aren't that useful because it didn't come from a big name school.