The difference depends on different aspects, such as the level of education and the study intention. So consider this:
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Is finance harder than engineering?
Both fields are considered rigorous, mainly when you aim to reach the peak, as they require high dedication.
If you do not want to reach the higher echelons of education in both fields, finance is more accessible in many ways. If you have a civil engineering diploma like me, you know that Structures and Math can be a bit tough.
For finance, most students say it is moderately poised, and if you put your head in it, you’ll probably be fine.
Engineering degrees are way more challenging than finance due to the sheer volume of units you’ll need to do. Finance is primarily intuitive, and some concepts can be easily understood.
Nonetheless, we must admit that the difficulty in the subjects is subjective as it depends on your strengths. I’ll only say that it is much easier if you have passion and a genuine interest in something.
Units such as derivatives in finance can be complex, and as mentioned earlier, subjects like ‘structures’ for engineers can be challenging.
Engineering courses have more prerequisites that require a strong foundation in mathematics and physics. So, in that aspect, engineering is much more challenging as finance requires mathematics knowledge.
Finance jobs like M&A may rely more on people skills, whereas engineering emphasizes rigorous technical skills. The skills required can impact the perceived difficulty of the fields.
Dropout rates can also indicate which is more challenging. Surprisingly, finance/economics courses have higher dropout rates than engineering. Finance has a dropout rate of 8.6% and engineering 7%.
But in most cases, the dropout is because students lack an interest in the field.
From my deep dive on different forums, most Participants speculate that the financial industry may not be as rewarding as is generally thought.
The possibility of high remuneration in finance is frequently restricted to particular roles at particular businesses, such as quant firms or investment banks.
The typical engineer may make more money than the usual finance professional.
The work-life balance in engineering is renowned for being generally better. Engineers often work fewer hours (40 to 50 hours per week), although some financial positions, especially in investment banking (IB), may need high hours (up to 100 hours per week).
However, engineers sometimes have to travel out for work, so it can be pretty challenging to maintain a family, so you need to consider that.
Because they are passionate about developing new technologies and find significance in their job, many people choose engineering as a career.
They consider engineering to be a practical means of changing the world. There’s also something about the progress in a construction site or product development, and if you don’t like sitting on your ass the whole day, engineering might be a better fit for you.
On the other hand, finance can be thought of as being less critical.
There are more critical things in life than acquiring money, as people say. Most people indicate that they love and find satisfaction in their engineering profession and that money is not the only thing that drives them.
So again, passion and enjoying doing what you love define whether it’s hard or not.
Electrical engineering, in particular, is regarded as a discipline of tremendous worth. Engineering is seen as being fundamentally important to society.
The truth is, you do get to be involved in something, but hey, I’m not throwing shade at the other profession.
Before making a choice, get some finance or engineering experience. This is due to the broad range of individual preferences and field suitability.
This is the best way to decide what you should do for the rest of your life.
Positions like investment banking tend to give the highest compensation. It is also known that wages for data analysis positions are comparable to those of high-end computer science positions.
Although particular data may vary depending on the engineering discipline and the area, engineering is regarded as a field that pays a respectable salary.
According to statistics, investment banking pays more than the engineering field.
Engineering is more complex than finance, and there shouldn’t be any debate about it. But if you have a passion for engineering or finance, you should go for it, as you will be motivated to see it through.