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/biz/ - Business & Finance


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1160282 No.1160282 [Reply] [Original]

Is mathematics really as in-demand in the financial industry as people say?

And do they also hire mathematicians with a graduate degree, or only PhD graduates?

>> No.1160284

>>1160282
Yes. $300k starting salary anywhere you want.

>> No.1160286

Yes but most likely you'll hate your job. Just get some courses in on machine learning and stats in general then go do what you really love. A straight math education is like getting a really high end computer. It's useful for a lot of shit but you'll mostly do shit with it.

>> No.1160308

>>1160286
But nothing seems more fun to me than using mathematics and computer programming to make money. What kind of qualities are banks or hedge funds looking for in these quants? Do you just have to get high grades and do extracurricular stuff like an honour's program, or do they also want you to have experience "organizing" parties for a fraternity and gay stuff like that?

>> No.1160315

>>1160308
How exactly do you think high grades corresponds to qualities that banks want? Are you retarded? Yes you'll have to do a bunch of gay shit and seem interesting but that will just be for the internships or analyst rotations. Then you just do a good job. Start networking now so you don't fall into the trap of getting a degree and being unemployable beyond being a teacher for some teen assholes

>> No.1160319

>>1160315
Fuck me you're retarded

>> No.1160323

>>1160315
>so you don't fall into the trap of getting a degree and being unemployable beyond being a teacher for some teen assholes
>tfw this is me

I want to kill myself desu. Second academic year teaching, quitting this summer (after getting qualified) to start my MSc. Does it even add any value to my CV? Can I sell the management side of it or did I waste 2 years?

>> No.1160325

>>1160308
You have to show them you know how to deal with people. You can't just sit at your computer with your head down pounding mountain dew in the dark anymore. Its all about teamwork my dude.

>> No.1160327
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1160327

>>1160315
>How exactly do you think high grades corresponds to qualities that banks want?

>> No.1160347

>>1160323
Not really. How would you compete with everyone else that has a masters? For a lot of entry level that's just a basic requirement. You need exposure. Beg for some office gig and then if it's something that you need they'll pay for your masters down the road. If you're not good at making friends and presenting yourself you have to do something no one else is. You could take that masters to a third world country maybe.

>> No.1160357

>>1160308

Math bachelors working at big 4. just get good grades (3.4+, should be around 3.8 desu senpai) and go to your career fair assuming you dont go to a shit school and you'll talk to some people there and if you get an interview just prepare. take the money and banking class offered at your school, take the financial math class, and take a derivatives/trading/markets class if possible.

>> No.1160369

>>1160347
Gonna have to take it, lad, before I get too old.

Can't stand my current position and I need to make up for shitty Undergrad anyway.

>> No.1160402

>>1160369
What you studying brehski

>> No.1160413

>>1160402
Maths with Stats, shit GPA, no relevant internships (due to a long story I'd rather not dwell into, let's say I'm not actually a retard).

Master's offer is in Statistics, which I'll accept, sit the CFA Level 1 in December and a GMAT at some point; network on events and bond with researchers for references.

I'll be 24 when I start, trying to fix my life, senpai.

>> No.1160417

>>1160413
So any advice for a shitter in Applied Mathematics undergrad who doesn't want to end up a loser in life?

>> No.1160423

>>1160417
Country and year of study (or age)?

>> No.1160432

>>1160423
Netherlands
First year, 8.5/10 average grade, 19yrs old.

wat do

>> No.1160438

>>1160432
>applied maths
Delft?

>> No.1160441
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1160441

>>1160438
Yes

>> No.1160445

>>1160441
My condoleances, friend

>> No.1160448

>>1160432
The usual: Get good grades, network, lift, get internships.

After your Undergrad, apply to MSc Finance & Investments at Rotterdam School of Management.

Land a job at a comfy investment bank.

http://www.rsm.nl/master/msc-programmes/msc-finance-investments/overview/

MSc Quantitative Finance at Erasmus School of Economics is one of my choices actually. Naturally, I don't think I'll get in due to shit grades.

>> No.1160449
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1160449

>>1160445
Am I fucked famalam?

>> No.1160451

>>1160448
Are you Dutch or someone who just studies here?

>> No.1160459
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1160459

>>1160451
I'm a Slav who recently got UK citizenship.

Overseas tuition fees is what rekt me actually (~£16-17,000/year plus living costs)

Worked full time as a cashier (could work on my visa) + tutor teens Maths + debts.

Fucked up my degree as I didn't attend lectures + depression.

I'm settling the remaining (under the table) debt in 2 months. Life starts now, just gotta catch up :'^)

>> No.1160465

>>1160459
Damn that sucks balls man, I'm sure it will work out for you though. Good luck.

>> No.1160471

>>1160449
nah ignore me, I'm just an econometrics shitter

>> No.1160472

>>1160282
When will you realize that college is only a place for you to meet people that can set you up with a fucking job?

>> No.1160476

>>1160471
Rotterdam?

>> No.1160479

>>1160476
Amsterdam
I wish I had done maths though

>> No.1160481

>>1160479
Isn't Amsterdam like Special Snowflakes: The City?
You only have calculus, statistics and probability for math in econometrics right?

>> No.1160486

>>1160481
>Isn't Amsterdam like Special Snowflakes: The City?
No, where the fuck did you get that from
And yes, econometrics is way too light on maths imo

>> No.1160491

>>1160282

No, software deals with the basal mathematics, the analysis is the important part

>> No.1160689

If you become an actuary, you can work at an insurance company and just rotate into a pure finance position.

I stay away from financial engineering as an actuary but some of my colleagues work in asset/liability management, portfolio risk analysis, or simply pure quant work for our investment management company.

>> No.1161068

>>1160486

Yeah, but it leaves you more time to think about what you are actually estimating and the logic behind it. Don't knock it. There's a billion Chinese who know the math better than you. But they will never be able to communicate their findings or figure out why their conclusions are shoddy because they didn't understand the mechanics of the underlying data.