Why Financial Firms Recruit Non-Finance Majors

New York City-based Erin Bergano first joined Morgan Stanley as a member of the fixed income team, then transitioned into the equity side of the firm. A former resident of Glen Cove, Erin Bergano is now a campus recruiter at Ivy League schools, where she seeks out candidates who may be a good fit for Morgan Stanley.

In what may seem surprising, financial entities often look beyond an applicant’s major when hiring for entry-level positions. Leading firms like Morgan Stanley recruit not only majors in finance and business but also those in fields of study including social sciences, language, and music.

Industry experts note that humanities students often have a broader worldview and skills that go beyond the mathematical, with a more creative mindset and a greater openness to unconventional ideas. These qualities often come alongside the ability to research a topic and present it convincingly, which can translate to a competitive edge for the hiring firm.

Financial firms and banks are now reaching out to these students to make them aware of the interpersonal, societal, and persuasive aspects of a career in finance. Meanwhile, firms encourage these students to develop a grounding in the basic concepts of finance so that they can be more competitive candidates throughout the interview process.

How SoulCycle Differs from the Traditional Spin Class

A graduate of the University of Rhode Island and a former resident of Glen Cove, New York, Erin Bergano has coordinated Ivy League campus recruiting efforts for Morgan Stanley for the past three years. A fitness enthusiast, Erin Bergano has completed multiple half-marathons and regularly participates in SoulCycle classes.

Rapidly gaining popularity throughout the United States and Canada, SoulCycle currently has well over 80 locations. The indoor cycling classes build upon the standard spin class in a variety of ways.

Designed to provide a high-intensity cardiovascular workout and a muscle-sculpting strength-training workout at the same time, SoulCycle combines the dynamics of group cycling with the intensity of aerobic dance and a variety of hand-weight work. Other upper-body workout elements incorporated by SoulCycle include abdominal crunches and handlebar push-ups. Participants complete all of these exercises while they continue to pedal and keep an elevated heart rate.

Why Morgan Stanley Targets Non-Finance Recruits

A Glen Cove, New York, native, Erin Bergano is a dean's list graduate of the University of Rhode Island who has worked in the campus recruitment department of Morgan Stanley since 2015. In this position, Erin Bergano coordinates campus recruiting at Ivy League schools throughout the United States.

Morgan Stanley is one of the largest financial services firms in the world, but its success isn't built solely through the work of Certified Public Accountants or those with degrees in finance, mathematics, and computer science. While the company does attract graduates in those fields, its yearly intake of recruits includes a significant amount of arts majors. According to Becci McKinley-Rowe, managing director of Morgan Stanley's London-based institutional equity division, it's essential to compose a team of individuals with different perspectives, and those with humanities degrees often bring a broader view to the table. 

Moreover, students who specialized in history, languages, or geography are generally more interested in world events and politics, and thus more apt to consider the wider economic or political landscape in regard to business decisions. Language students, for example, pay particular attention to minute details in spelling, which can foster a strong attention to detail that can be applied to financial analysis. It's crucial to have a strong grasp of arithmetic, but much of the technical aspect of financial modeling is taught in-house.