Need Advice. Which College Major will lead me to my "Fastlane"?

[tm33]

Hey guys,
I'm new to posting but I've been reading for a while. I've been hesitant to make this thread because there is another similar one right now but I had a more specific question.

In January I'll be transferring to a University from my State College with my Associates Degree and registration is in 2 days. I recently read "The Millionaire Fastlane " and I really like the viewpoint in that College is for educating yourself to better prepare you to make your Fastlane. This is where I have my question that I've been debating for the past few months.

Which College Major is the best to prepare you to create your Fastlane?​

I know that's vague and depends a lot on my personal preference but on a more personal level I've been debating between Electrical Engineering and Accounting. The University I'll be attending has a Top 5 Accounting Program but I feel like that will just put me on the road to a 9-5 which I don't want. My overall goal is to have an idea then be able to do it. Which leads me to a type of Engineering or a Tech based major.

Thanks in advanced for all your responses. Hope this wasn't long winded!

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[theBiz]

The number one education you can have is everyday trying to learn something new and better yourself. College is great but forget about formal education for a minute. No matter what you do in life for a career you must push to better yourself and your communication skills.

I would say without a doubt the most important thing you can learn to live a happy and fulfilling life (not financially ) is marketing and or sales. This goes for financial success as well, marketing and/or sales is the key factor especially in a saturated business market.

Learn how to sell, learn how to market products, services, yourself, and life will be more fulfilling. I would go to college for marketing, i think college is becoming less and less helpful, i wont get into why, but i think marketing is one of the last things left that can leave a life long impression.

You can not even get a 9-5 in todays market without being able to effectively market and sell yourself. Good luck

 

[The-J]

there are none. you have two choices: (1) prepare a start-up during college (which is my path) or (2) enjoy college to the fullest, doing whatever major suits your fancy.

the reason i'm doing the start-up is because of my financial aid issues; i might not get to stay the full four years. if i had a full ride, i would not be worried about my start-up now. so it's really up to you

 

[AlphariusOmegon]

Above all else pursue what interests you. If you enjoy learning about something, working on something, doing something, you're going to find all the hard work in college is worth it. If you choose a major based on how much you think you can make, you're going to be in for a long, hard slog.

In today's world, where you need a degree to do things that that degree should leave you vastly overqualified for, having a major that interests you and drives you is sometimes the biggest reward in and of itself.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[bwalklet]

I agree with what everyone has said so far, pursue what interests you. Unfortunately, I don't think many college freshmen know what interests them in the beginning of their college careers. I sure didn't. In fact, my roomate and now best friend changed his major at least 3 times, and I'm not even convinced he chose something he really liked.

With that said, I do think there are some majors that could really set you on a fastlane path (if you enjoy them). I don't know if theBiz was saying this directly, but he certainly said it to some extent, marketing. Learning how to sell things is absolutely critical if you are ever going to be successful. I totally agree with this.

If I could go back to college, I wouldn't change the things I majored in. However, I do wish I had learned more about computer science as a college student. I think this is a field that is going to become more and more important as time goes on.

I think you may be right about the accounting, but that's just because I have a bias against it. The same roomate/friend I mentioned above ended up doing an "advanced accounting degree" for 1 year after college, cuz he was frustrated with the job market and enticed by all of the money accountants apparently make. He is working as an accountant now, maybe enjoying it? Can't tell. All I know is that he works 7-4 and that sounds pretty awful to me, even for 40k a year starting salary.

The point of that story is, make sure you choose your major for the right reasons. Money isn't a reason in my opinion. Wealth, on the other hand, as MJ explains in his book, I think is a great reason. Personal growth, knowledge, and general interest/passion also are major decision factors (at least for me).

 

[theBiz]

Sorry but im going to disagree, do not do what you interest you or "what you enjoy". Life is not about doing what you want to do or enjoy.

Everyday is a series of problems we must solve and things we do not want to do but it must be done in order to one day have FREEDOM.


Everyone wants FREEDOM, it comes in many different forms but essentially you want your time..... money can give you time. In essence you need to do something which will make you money so ultimately you will have FREEDOM. I would say many entrepreneurs do not become entrepreneurs out of the fact that they want to "build a company", they just want to be free. If digging a hole for 8 hours a day, for 5 years would make people rich enough to retire every single wealthy entrepreneur would have done that instead of built a company.

This is so important MJ always says to do what the market demands not your "heart". Do what the market demands, make money then go play with flowers, but don't expect to open up Mike's flower shop and think that is the key to FREEDOM because you enjoy what your doing. No one cares about your interest, not to be rude, but they really do not care, they care about theirs.

So your actually thinking selfish like everyone else is, instead let them be selfish, serve their need and you win in the end.

 

[bwalklet]

This is so important MJ always says to do what the market demands not your "heart". Do what the market demands, make money then go play with flowers, but don't expect to open up Mike's flower shop and think that is the key to FREEDOM because you enjoy what your doing. No one cares about your interest, not to be rude, but they really do not care, they care about theirs.

Incorrect. He never says to not do what your heart tells you. He says you need to do what your heart tells you AND what the market demands. Fortunately for me, I love marketing, I love computers, I love social media, all of which are topics people are in demand of at this point in time. Now, if I was passionate about art and was trying to make a business out of that, it would certainly not be as easy.

To me, college is about learning how to learn. Developing a genuine interest in acquiring knowledge. If you study some bullshit that bores you to tears, you are not helping yourself get closer to the fastlane imo. Sure, there is a demand for accountants, but if you hate accounting, how are you going to have the passion and commitment to make your fastlane business a success with it?

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[DeletedUser394]

Accounting/Finance/Entrepreneurship or some places even offer Real Estate degrees.

Sure you can learn all of these things on your own but if you're going to college, you might as well learn them anyway.

Or you can go the route of taking whatever major you want (Linguistics, philosophy, math, art, etc) and just have a good time.

I'm looking to get into a math/accounting/finance program though, as I not only enjoy these subjects, but the ability to read balance sheets/income statements, etc is always important. (and yet I'd hazard a guess that the majority of people in this world haven't a clue how to do anything accounting related)

 

[Kak]

No degree or major will lead you to your fastlane

 

[Pacman]

Sorry, I think a lot of people are giving bad advice here. Yes, Marketing and Selling is important - but have you actually taken one of these classes in college? Zero real world application. You are better off learning these things on your own. Do what you are interested in? Maybe - if there is some sort of demand for people with this skillset. Entrepreneurship major - None of the college entrepreneurs I knew had this as a major. Entrepreneurship is one of those things you are better off learning by doing rather than reading textbooks about it. What will you actually learn - how to write a business plan? how to acquire funding? this has zero application value to the sort of businesses most of us have here. Small businesses. Entrepreneurship majors and MBA programs may be more designed for some dealing with VC's in the future.

My personal opinion? I would become a computer science major. Reasons? Its a practical skill where you can actually learn how to create products/services. Lets face it - the internet is the best place to launch businesses and I can't think of a better skill set for this. With a CS major, you will have an easier time learning things like RoR and whatever language is used for iphone applications. Also, jobs for CS majors can be high paying so it would give you an opportunity to save some cash right out of college. The only caveat is that many CS programs are super math intensive - and you might not actually be learning relevant programming skills. So you have to do your research

What did I study in college? I did accounting. I work at a Big Four accounting firm during the day, work on my online businesses at night. I feel comfortable about my ability to get decent paying low stress jobs, that will give me enough time to work on my businesses. But at the same time, I sometimes wish I had better programming skills. Oh well, You can't win them all I guess.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[theBiz]

Incorrect. He never says to not do what your heart tells you. He says you need to do what your heart tells you AND what the market demands. Fortunately for me, I love marketing, I love computers, I love social media, all of which are topics people are in demand of at this point in time. Now, if I was passionate about art and was trying to make a business out of that, it would certainly not be as easy.

To me, college is about learning how to learn. Developing a genuine interest in acquiring knowledge. If you study some bullshit that bores you to tears, you are not helping yourself get closer to the fastlane imo.

Sure, there is a demand for accountants, but if you hate accounting, how are you going to have the passion and commitment to make your fastlane business a success with it?

because your going to make money......



He doesn't? pretty sure he does.. ok well now im telling you.

Obviously if you can do what you love and fulfill a need its a win win, i did not say that.

The smart approach of any business person is do research on growing markets, markets in demand and size up the how many potential buyers you would have.... not write a list of your 5 favorite things then see which one would do best at the present time.


Im sure MJ did not love limos or selling leads but your competitive spirit makes you want to do better so you learn to love being competitive not an industry or trade, because 40 years into it... you wont love it anymore. Do you think the founder of Snuggie loved blankets? I win.

 

[tm33]

Thanks for all the replies guys. I think what I'm going to do is take one accounting class, one CS class, one Electrical Engineering class and see what I enjoy but also what has real life value.

 

[bwalklet]

Im sure MJ did not love limos or selling leads but your competitive spirit makes you want to do better so you learn to love being competitive not an industry or trade, because 40 years into it... you wont love it anymore. Do you think the founder of Snuggie loved blankets? I win.

There is no way you can tell me that MJ would have been able to sit through hours and hours of programming if he didn't actually enjoy doing it. Yes, I'm sure he was extrinsically motivated by money, but if he wasn't passionate about programming, I doubt he would have had as much success with limos.com as he did.

The last thing I will say is that it really doesn't matter what you study, because you can always be an entrepreneur. Which is why I would say it's even more important to study what interests you, because you likely won't be working in something that relates to your major after you graduate.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[T&R]

My personal opinion? I would become a computer science major.

Do this. A skill that takes years to learn, forever to master. Learning it from people in an academic environment is ideal IMO.

See if you like it -- There are some introductory courses here:

Stanford School of Engineering - Stanford Engineering Everywhere

and here:

http://ocw.mit.edu/courses/electrical-engineering-and-computer-science/

 

[tm33]

Wow those links are amazing. Ton of knowledge for free. Thanks man!

Do this. A skill that takes years to learn, forever to master. Learning it from people in an academic environment is ideal IMO.

See if you like it -- There are some introductory courses here:

Stanford School of Engineering - Stanford Engineering Everywhere

and here:

Free Online Course Materials | Electrical Engineering and Computer Science | MIT OpenCourseWare

 

[CPisHere]

No college degree will help you go fast lane, unless you build a business based around something that requires a specific set of knowledge taught in college (there's not many, but Accounting & Electrical Engineering are probably in there).

The skills you need to succeed in Entrepreneurship cannot be & aren't taught in school.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[GDevDir]

from your interests, i would go with the electrical engineering if you wish to design and build something to sell. you can outsource the accounting

If you must take a class, take something that will aid YOU to be successful, not someone else, with accounting, someone will pay you to do their work, with electrical engineering; you have the possibility to create a business with the things you design and create via that knowledge you have.

 

[pstchaseki]

Personally if I HAD to pick a major, I would go with business admin. I never really met anyone who had a passion for accounting, but if you have a niche for electrical engineering go for that. I really hope you are in it because you want to do something YOU ARE, and not what you think you want. There's no potential breaker than being solely being motivated by money or fame. If that's the case you are certainly in it for the wrong reason.

 

[StockDC2]

because your going to make money......



He doesn't? pretty sure he does.. ok well now im telling you.

Obviously if you can do what you love and fulfill a need its a win win, i did not say that.

The smart approach of any business person is do research on growing markets, markets in demand and size up the how many potential buyers you would have.... not write a list of your 5 favorite things then see which one would do best at the present time.


Im sure MJ did not love limos or selling leads but your competitive spirit makes you want to do better so you learn to love being competitive not an industry or trade, because 40 years into it... you wont love it anymore. Do you think the founder of Snuggie loved blankets? I win.

You're totally wrong. People value different things and thus, success comes with different meanings. Success to one can mean fortune and money. To another, success can mean freedom and just being their own boss.

Just because you're not catering to the most profitable demands does not mean that you won't grow to be successful. If you have the will power, motivation, and determination, you'll be successful no matter what you do.

Fyi, doing something you're passionate about is going to be a lot easier than doing something that you're indifferent about. Stop chasing money; let money chase after you.

OP, I graduated from a reputable school with an accounting degree, got hired by the largest accounting firm on the west coast, and didn't think twice before walking out of my manager's door for the last time. Just like business, if you're not 110% passionate about accounting, I suggest you think twice before declaring that as your major. The work was very mundane, brainless, and outright boring. Everything that I did was a repetition of the day before.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[winch]

I'm biased, but engineering was very stimulating (sometimes!). I did mechanical, though I think electrical/computer would have been just as fun for different reasons.

If you're an engineering type, I wouldn't recommend accounting. They're quite different in the style of thinking they require. I know I wouldn't be happy in the latter, as I'm more conceptual. Now, chemistry and accounting? Different story. Not the same, but the thinking style can have some overlap there.

I wish I had taken more computer science courses. Was just an interest I didn't pursue at the time--when I had more time!

With that, do whatever you find interesting is my opinion, and please don't be afraid to take courses even if you think they don't tie into your major.

 

[johnp]

The first thing that you need to realize is that it is the most important factor is YOU. While picking the correct major is important, it is not the deciding factor to whether you will become successful. College is really about challenging yourself, pushing your limits, and opening your mind to the world of possibilities around you.

My best advice is to pick something you are interested in, but most importantly, major in Yourself.

Also, as a college student, you might be interested in my start-up. We are currently in our pre-launch phase. Please take a moment to check it out at myCampusLinks if you get some time.

 

[CPisHere]

I have some major gripes about getting an Accounting major. It's the mindset that it conditions you for. Accounting is complicated (for some people), but it's simply looking at the past and deciphering what happened and how to put it on paper. And there's some leeway, but for the most part, it's simply following rules.

You need some Accounting knowledge to run a business, but Accountants generally make absolutely terrible business decisions because they focus on the costs rather than the potential, they're always looking backwards instead of forwards, and they are always trying to follow the rules.

NOTE: This is why small business owners should utilize their Accountants to do their Accounting, NOT help run their business.

That doesn't mean an Accountant can't be a good business person, just that as a college major it will hender your ability as an Entrepreneur FAR more than it will help it.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[max momo]

OP- the four classes you selected look like a great start. Take a couple comprehensive personality tests to determine some of your existing strength/weaknesses/inclinations.

Your skill set will eventually dwarf your degree. That degree is more than a piece of paper - it becomes a status symbol, a key to a group of people. Like all keys, it only provides access - once you are through the door the rest is up to you.

Most people focus too much on academics at school. Unless you really want to get a higher degree, don't waste time getting A's when a C will suffice. Spend the rest of the time on something IMPORTANT - what most college kids don't realize is critical until later in life - BUILD A NETWORK.

Spend focused time on your social skills/soft skills. Learn to give a speech and how to lead a team.
Become friends that can provide a support network for the rest of your life. Future Doctors/Engineers/Lawyers can assist in areas you will need later in life. Spend time learning how to build relationships. If this is difficult on your own, join a club/volunteer/join a fraternity or sorority. Even better - START a club, START a sorority/fraternity.

Begin you legacy now.

 

[458]

I have some major gripes about getting an Accounting major. It's the mindset that it conditions you for. Accounting is complicated (for some people), but it's simply looking at the past and deciphering what happened and how to put it on paper. And there's some leeway, but for the most part, it's simply following rules.

You need some Accounting knowledge to run a business, but Accountants generally make absolutely terrible business decisions because they focus on the costs rather than the potential, they're always looking backwards instead of forwards, and they are always trying to follow the rules.

NOTE: This is why small business owners should utilize their Accountants to do their Accounting, NOT help run their business.

That doesn't mean an Accountant can't be a good business person, just that as a college major it will hender your ability as an Entrepreneur FAR more than it will help it.

Who in the right mind would be their own accountant???? Having an accounting degree lets you keep control while letting someone else crunch numbers all day. Like i said before, accountants can and will cut corners and unless you know what they are doing they are going to pull a fast one on you. If you havent read "Essays of Warren Buffet", than you should. The most successful people have a deep understand of accounting and how it is applied.

 

[WBoone]

if i was going to go to college, which i didnt, but if I did I would go into accounting. Then start an accounting firm and focus on aquiring online businesses as my clients. Build up a big list of clients that pays my firm a nice fat monthly fee to handle all the numbers for them. Alot (not all) of online businesses have no clue about the bookkeeping and accounting side of their business and the just focus on the creative side like writing their blogs, marketing, etc. There is money in accounting.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[StockDC2]

if i was going to go to college, which i didnt, but if I did I would go into accounting. Then start an accounting firm and focus on aquiring online businesses as my clients. Build up a big list of clients that pays my firm a nice fat monthly fee to handle all the numbers for them. Alot (not all) of online businesses have no clue about the bookkeeping and accounting side of their business and the just focus on the creative side like writing their blogs, marketing, etc. There is money in accounting.

You can't just start an accounting firm... You need your CPA license which requires 2000 hours of accounting work.

 

[458]

You can't just start an accounting firm... You need your CPA license which requires 2000 hours of accounting work.

Please dont go around and just make things up on this forum. Each state is different and it is not by hours. You dont need a CPA license to start an accounting firm.

 

[CPisHere]

Who in the right mind would be their own accountant???? Having an accounting degree lets you keep control while letting someone else crunch numbers all day. Like i said before, accountants can and will cut corners and unless you know what they are doing they are going to pull a fast one on you. If you havent read "Essays of Warren Buffet", than you should. The most successful people have a deep understand of accounting and how it is applied.

I agree that you need to UNDERSTAND Accounting, but you only need MAX 3 Accounting classes to develop this - not a Degree.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[WBoone]

You can't just start an accounting firm... You need your CPA license which requires 2000 hours of accounting work.

see 458s' post above. And if you are in whatever state that requires 2000 hours of whatever...you really going to let that stop you if you think its a good plan?? Either go get the 2000 hours of experience and do it or partner with someone that does. You can start almost any business even as a highschool dropout, there are ways around things.

 

[AlphariusOmegon]

see 458s' post above. And if you are in whatever state that requires 2000 hours of whatever...you really going to let that stop you if you think its a good plan?? Either go get the 2000 hours of experience and do it or partner with someone that does. You can start almost any business even as a highschool dropout, there are ways around things.

2000 hours is a year of full time work. Taking a year to make sure your skills are the best they can be and see how other accounting firms are set up would probably be worthwhile imo.