By Ruchama Benhamou, Managing Editor
As someone who is not business oriented and slightly intimidated by students of the Sy Syms School of Business, I thought I would do some research on an intriguing concept that I keep hearing about. Whether it is on social media platforms, YU club initiatives, or potential shidduch dates, the term “Finance Bro” has come up in conversation millions of times. But what actually is a Finance Bro?
According to Urban Dictionary, a Finance Bro is, “One who drives a BMW with white interior leather, balks at dehumanizing hookers and [has an] overall douchey appearance to impress everyone around him with the finance firm he works for. [Example:] He’s a straight finance bro, only cares about money…”
Although this is humorous, it does seem to have some validity from the few “Finance Bros” I have met. However, I have been enlightened recently that not all of these so-called “Finance Bros” are try-hard Chads. Some are actually very kind, genuine, and do not care what car they drive. So, what does a “Finance Bro” do exactly?
According to Finance Bros: Masters of the Market or Overhyped Hustle?, “Finance bros are typically associated with the high-pressure world of investment banking, hedge funds, and private equity. They often come from prestigious universities and boast impressive academic credentials. Their work involves complex financial transactions, deal-making, and navigating the ever-changing market landscape.”
More particularly, those who work in finance deal with the intricate world of mathematics and its role in the multifaceted spheres of the banking industry. The job is not solely about hedge funds or private equity, but also about financial planning and being prudent with one’s money and investments. The finance field is vast and boundless in opportunity, making it a lucrative career.
Accordingly, there are three major fields of finance. These include, public finance, corporate finance, and personal finance, as well as sub sectors like social and behavioral finance, which utilize psychology and other disciplines. Within these fields, a financier will learn and understand the time-value of money, how to handle large sums of money, interest rates, debt, credit, and the overarching system of money and its influence.
Additionally, Finance is an interdisciplinary field in the sense that it works within quantitative areas such as statistics, mathematics, and economics, to best understand the world of business. Through the use of analytical thinking and calculating, financiers are critical thinkers for the market. They are the underpinnings of the financial understanding that goes into every aspect of finance and its broader place in wealth and management.
Although “Finance Bro” does have a very specific connotation, we likey would live very difficult lives without them. Think about it. We all use math every day. To tell time, predict weather, in our studies, and especially in our finances. So don’t knock them too far down unless they really deserve it!