Computer Science and Banking - Finance major with computer science major
I am a Finance Major with a Computer Science minor and I was wondering if my computer science back ground would be helpful in banking.
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As far as computer science in banking goes, I don't really know of any value your could off the bat. The only computer excellence you need in IBD is excel. And the better you are, the more efficient/valuable you will be. Good luck. These days though, computer skills can only help and you never know when you'll need them.
Yea that was kind of my rational when taking Comp sci. Technology isn't going anywhere, so you might as well learn as much about it as you can.
Yea. I've been doing an IB internship for 1 month now. As far as I am concerned, being above average at computers is more than enough, and excel matters. Learn to love it
Comp Sci can be useful for trading, but for banking its probably not necessary. Can't hurt to know about it though.
Hummm. I keep hearing about the importance of "big data". I think finance and CS are decidedly inter-connected and will be to an even greater extent years from now.
Computer science is useless for banking unless you work in TMT.
You probably wont use CS directly but indirectly it helps a lot. The discipline you learn with CS curriculums and the way cs folks are trained to attack and handle problems and deliverables can be used in many aspects of finance
Computer Science and Banking - Used their coding knowledge (Originally Posted: 12/04/2013)
Has anyone here ever used their coding knowledge to automate tasks or otherwise make themselves a more efficient analyst? I would assume people use Macro's in excel, but has anyone tried to do anything more advanced?
I used to do that with just about every job I had. Then I stopped coding so it will take me a while to learn how to automate my life again.
I couldn't imagine that outside of excel work that too much could be automated so you have little input.
The problem is, in excel or similar deliverables, you basically need to know and explain what is going into every cell. Automation also introduces bust potential, which you just can't have.
That said, I do know a kid who automated a Working Group List - you could just input stuff into excel cells and it spit out a formatted Word Doc. That thing was clutch, because WGLs are a real b!tch to format
Comp Sci and I-Banking (Originally Posted: 07/18/2013)
Hello,
I am a current BA graduate from Comp Sci at a Non-Target (Iona College), I have a 3.53 GPA and a minor in Econ. I am currently enrolled in a MSci program in CS, but leaning towards something in the Financial Sector. I am asking for your opinion on a switch to i-banking, would you complete my current program then pursue MS in finance or pursue finance right away? Would my two masters seem detrimental in the hiring process? Can I use any technical skills (besides quantitative skills) on the job?
Best, Jay Velasco
If there're guys who make it from Dentistry to IB, why can't you? Though I know tons of CS guys (in Toronto at least) who end up in trading.
IMO I know lots who did an MFin and most of them did this since they didn't have much prior work experience.
haha, I have to agree with Mr. Mathie. But CS will take you on a route leaning more toward trading which is part of IB too. IB is not that quantitative and technically speaking mainly excel is used. Mfin might give you a leg up. All the best.
You can get into IB with a CS degree (I did that), but you have to establish the relevant skillset in your resume and interviews. Do you have any work experience or specific coursework that would show a bank that you are reasonably versed in accounting and valuation? If you can establish that, then your comp sci background can help you in establishing your quantitative ability and your ability to build and explain complex models.
Trading is not I-Banking. Trading is done within Investment Banks, but there is a difference. OP would probably have better chance at trading, but if you know accounting, then you can do I-Banking too.
Trading, although not directly in the traditional 'IB division', is very much a part of most larger investment banks. In fact, a large part of IB revenue is generated through S&T. But trading is nothing like IB at it's core. If OP is set on IB he should take some fin/acct classes.
Thanks for confirming where I corrected you already. IB does not equal S&T. S&T is housed within IB.
No problem, I should have clarified that from the start.
Yes, I would need to probably take some extra finance classes. Would my Econ minor hold up and allow me to obtain an internship, which would give me experience to eventually make the switch without taking extra classes? I've done courses like econometrics, money and banking, int. micro, etc... However, based upon my classes I always felt there are many differences between econ and finance, which would make my econ minor not efficient enough to do real finance work. However, it (along with my quantitative major) might make me trainable.
I feel that another big issue is that I am not from a target school and nowadays things in the financial realm are extremely competitive. Staying within the programming side of things might allow me more opportunities, but my real interest is finance. Would my previous internships in IT be detrimental to my search for an IB internship?
The fact that you are not at a target is the biggest issue but then again I have seen 3.0 students from non targets get in with the right amount of networking. So It comes down to you, keep the GPA high then network. And just don't mention the IT too much if your true passion is in ibanking.
Should a Computer Scientist go into Banking? (Originally Posted: 01/11/2014)
I'm a CS major, and I'm pretty good at it. I go to a target, have good grades and an interest in economics and finance. Most software engineering jobs start high and peak quickly. The sole reason for me to go into IB would be for the money and career opportunities. I'm not sure I would even succeed in the field because I'm not a type-A personality that you often associate with investment bankers.
My options are: a) Focus on CS stuff, get a job at a top tech firm/hot startup, and then I can decide whether to found my own startup or pivot and go to business school and get into IB if I figure I'm not going anywhere in the tech industry. b) Try to get an IB gig of some kind my next summer (junior year) and see if I'd fit in this industry. If I figure it's not for me, I would have wasted a whole lot of time that I could have spent becoming a better programmer or searching for business opportunities.
Any advice is appreciated.
My opinion will probably be a lot different from what most on here will say, but if I were in your shoes with a CS degree, I'd be all over the start up and tech scenes. If you don't think that you will fit in a finance job, why do it? It seems like your sole reason for the finance job is money, but there is definitely a lot of money to be made in tech, too. My 2c
Are you sure you're not looking at it from a "the grass is always greener on the other side" sort of perspective? I know a lot of excellent software engineers who are frustrated because their pay is capped by age 30 at $300k or so, whereas all their college friends routinely reign in $500k+ by going into finance. Also, getting a startup off the ground is more of a crapshoot than becoming MD at a bank.
You will be very bored in IB. If you want to go into finance, why not VC or S&T?
I've heard that S&T at large banks doesn't pay as well anymore due to new regulations like the Volcker Rule. Also, I thought the only way to become a VC is to either exit from tech M&A in banking or found your own startup, become an angel investor and then to join a VC firm.
Lots of computer science research experience looking to move into IB (Originally Posted: 10/02/2015)
Hello, I am a 3rd year undergrad at a top Canadian school with a 3.8 in a Science field. My research has mostly consisted of applied statistics and computer science in terms of bioinformatics. I have been working in research centers since starting my undergrad. Recently I was interning for the Japanese government doing bioinformatics work for a great salary and a full expat package. This was all through networking. I have been studying finance in my free time, am confident with excel and have been dabbling in algorithmic trading. What should I look for to break into IB?
Canadian IB recruiting is focused on those in business / commerce programs so it's very important for you to gain some relevant finance experience (internships, student investment clubs personal investments, etc). Depending on where you go to school, you might not have access to OCR as postings are often only for business students so networking will be key as well. Would especially try to reach out to those who don't have a BBA / B.Comm, but made it into banking.
You're far more suited towards quant fields, rather than IB.
Have a look at www.quantnet.com
Getting into finance as a Computer Programmer (Originally Posted: 09/01/2013)
PWM - easy, just apply, these firms take on lots of people but few are able to source enough clients to be possible Trader - probably best for someone else to help here Fund Manager at a hedge fund- probably best for someone else to help here
start off as a trading assistant. They generally don't require too much experience or a finance degree.
This thread again. See some of my responses in my AMA.
But in general, if you're from a top computer science program, you should have no problem interviewing for some HFT proprietary trading firms either as a developer or a trader.
Is UCL, Uni of London, considered top?
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