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Finance is too soft a major?
 

littlebitconfuzzled's picture
 
Points)
 on 5/28/12 at 3:00am
clash.jpg

This fall I'm going to be a freshman at NYU Stern. I keep hearing that finance/business/economics majors are not rigorous enough, and that engineeing majors get all the finance jobs anyways. Would you say this is true?

I can't/don't want to major in engineering anyways, but I was thinking of minoring/double majoring in math or computer science or some other science. Is this worth it, and of all the above options, what is recommended?

I don't know exactly what I want to do in finance, but I am interested in eventually maybe doing something with consulting or VC.

SECfinance's picture

No, it's not true.

IB
(King Kong, 1,432
 
Points)
 on 5/27/12 at 4:13pm

No, it's not true.

drexelalum11's picture

It is a soft major, but no,

O
(Neanderthal, 3,635
 
Points)
 on 5/27/12 at 4:19pm

It is a soft major, but no, you can get a job with it. You can get a job with any major though, so why waste your time studying finance?

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littlebitconfuzzled's picture

Because I want a job in

 
Points)
 on 5/27/12 at 4:25pm

Because I want a job in finance and because I am interested in it.
For example, I'm not really interested in engineering, and therefore do not want to major in it.

What about the double majors?

In reply to drexelalum11
swagon's picture

drexelalum11: It is a soft

EN
(Neanderthal, 2,976
 
Points)
 on 5/27/12 at 4:53pm
drexelalum11:

It is a soft major, but no, you can get a job with it. You can get a job with any major though, so why waste your time studying finance?

hmm gee let me think, maybe cause u enjoy it and want 2 educate yoself on the field u want 2 make a career in?

In reply to littlebitconfuzzled
FreezePops's picture

littlebitconfuzzled: Because

(Orangutan, 310
 
Points)
 on 5/27/12 at 4:59pm
littlebitconfuzzled:

Because I want a job in finance and because I am interested in it.
For example, I'm not really interested in engineering, and therefore do not want to major in it.

What about the double majors?

A double major is a good idea and will help, so long as it doesn't hurt your gpa.

Would recommend against solely majoring in math though, particularly at a school like NYU. Ultimately, the finance major will have more opportunities.

Hamdallr-monkey's picture

Hum... Go with Math up to

ER
(Chimp, 7
 
Points)
 on 5/27/12 at 5:03pm

Hum...
Go with Math up to probability & DiffEq.,
CS with C++ &/or Java
Physics 2/3 and most doors will be open.
Double majoring would be good but a bit too much (unless you're gifted), it will take a tool on your networking/extracurriculars and life.
This is mostly what applies in engineering to finance anyways...
Do good in those and put that in your resume. You'll have an edge ;-)

The Grid. A digital frontier. I tried to picture clusters of information as they move through the computer. What did they look like? Ships? Motorcycles? Were the circuits like freeways? I kept dreaming of a world I thought I’d never see. And then, one day

melvvvar's picture

study mining or agriculture.

(King Kong, 1,693
 
Points)
 on 5/27/12 at 5:22pm

study mining or agriculture.

In reply to FreezePops
JDawg's picture

FreezePops: Would recommend

(Gorilla, 528
 
Points)
 on 5/27/12 at 5:25pm
FreezePops:

Would recommend against solely majoring in math though, particularly at a school like NYU.

NYU's graduate math department is top 10 (tied with Columbia and Yale)...

OP it all depends on what you want to do. NYU Stern is a target, so you should be fine majoring in finance. You don't need a STEM major to break into consulting or VC.

In reply to swagon
drexelalum11's picture

swagon: drexelalum11: It is

O
(Neanderthal, 3,635
 
Points)
 on 5/27/12 at 5:29pm
swagon:
drexelalum11:

It is a soft major, but no, you can get a job with it. You can get a job with any major though, so why waste your time studying finance?

hmm gee let me think, maybe cause u enjoy it and want 2 educate yoself on the field u want 2 make a career in?

You'll learn more finance in a month of banking than you will in four years of undergrad. Do something else interesting; something that you won't have the chance to do after graduating. People like to argue university is an education, and it is, but not in a hands-on, learn a trade, sense. If you want to learn a trade, go to a trade school (aka Wharton). Good universities teach you how to think, how to construct and challenge arguments, how to evaluate evidence and independently arrive at new, interesting, important conclusions. You can learn this as well from Shakespeare as you can from Black-Scholes. Hell, you can learn this better from Shakespeare than from Black-Scholes.

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In reply to Hamdallr-monkey
FreezePops's picture

Hamdallr-monkey: Hum... Go

(Orangutan, 310
 
Points)
 on 5/27/12 at 5:45pm
Hamdallr-monkey:

Hum...
Go with Math up to probability & DiffEq.,
Physics 2/3 and most doors will be open.

By differential equations, do you mean something like this?
http://www.math.princeton.edu/undergraduate/course...

Or the watered down version engineers take, which essentially covers separation of variables, variation of parameters, reduction of order, laplace transforms and maybe a few basic linear systems?

Also, how is physics 2/3 relevant at all? Or are you just suggesting it to prove some sort of basic quantitative ability?

NYU's graduate math department is top 10 (tied with Columbia and Yale)...

This would be relevant if the goal was graduate school in mathematics.
I could be completely wrong, but I doubt this helps with regards to finance recruitment.

ballmouse's picture

The vast majority of

 
Points)
 on 5/27/12 at 6:01pm

The vast majority of undergraduate NYU Alumni in the finance industry studied finance at NYU Stern. You will be fine with a major in finance.

In reply to melvvvar
BTbanker's picture

melvvvar: study mining or

IB
 
Points)
 on 5/27/12 at 6:12pm
melvvvar:

study mining or agriculture.

We are entering into the New Agrarian Age.

"A man generally has two reasons for doing anything. One that sounds good, and the real one." - J.P. Morgan

In reply to FreezePops
syntheticshit's picture

FreezePops: Hamdallr-monkey

 
Points)
 on 5/27/12 at 6:18pm
FreezePops:
Hamdallr-monkey:

Hum...
Go with Math up to probability & DiffEq.,
Physics 2/3 and most doors will be open.

By differential equations, do you mean something like this?
http://www.math.princeton.edu/undergraduate/course...

Or the watered down version engineers take, which essentially covers separation of variables, variation of parameters, reduction of order, laplace transforms and maybe a few basic linear systems?

Also, how is physics 2/3 relevant at all? Or are you just suggesting it to prove some sort of basic quantitative ability?

NYU's graduate math department is top 10 (tied with Columbia and Yale)...

This would be relevant if the goal was graduate school in mathematics.
I could be completely wrong, but I doubt this helps with regards to finance recruitment.

Finance is soft, yes. If you want to do anything fundamental related, it will probably suffice: this includes and is not limited to: fundamental l/s investing, m&a, pe, whatever. I am not saying those jobs are soft, just that the major is soft. Straight up finance majors will probably find it a bit difficult, without 2+years of solid mathematical training, to understand stochastic calculus and understand how to price exotic derivatives on the sell side, or understand whatever econometric/systematic trading techniques that are en vogue on the buyside.

To address above question@freezepops, DiffEq, Physics 2/3, i.e. anybody who actually has a fair amount of quantitative ability will have taken those courses before they step foot into college. Some people put it on their rez, but rest assured, it's really not impressive EVEN if you are not gunning for a quantitative job. There really is no point in taking quantitative subjects up to that level but not beyond--you aren't proving anything to the quantitative people, and the fundamental people will just think you are confused about what you want to do.

If you want to stand out in the quantish portion of a S&T analyst class or land a quantitative buyside gig, only something like PDEs/numerical PDEs/2+ semesters of real analysis/probability theory/stochastic processes/computational linear algebra or comparably difficult classes in pure math (a few semesters of abstract algebra by your junior year, a semester of diffgeo, etc. after the bullshit of real analysis) will get you prime consideration provided you hold up in interviews.

With regards to NYU Courant, yes, it is definitely one of the most elite graduate applied math programs in the world. They do have a Mathematics in Finance masters that is highly regarded, but I'm not sure if you take courses from there if you are an undergrad, or if you could conceivably do a Math/Finance double at NYU. If they allowed you to weasel into grad level courses at Courant, that would be very impressive.

In reply to syntheticshit
holla_back's picture

syntheticshit: To address

O
(King Kong, 1,192
 
Points)
 on 5/27/12 at 9:03pm
syntheticshit:

To address above question@freezepops, DiffEq, Physics 2/3, i.e. anybody who actually has a fair amount of quantitative ability will have taken those courses before they step foot into college. Some people put it on their rez, but rest assured, it's really not impressive EVEN if you are not gunning for a quantitative job. There really is no point in taking quantitative subjects up to that level but not beyond--you aren't proving anything to the quantitative people, and the fundamental people will just think you are confused about what you want to do.

Diff. EQs in high school? Seriously?

In reply to holla_back
syntheticshit's picture

holla_back: syntheticshit:

 
Points)
 on 5/27/12 at 9:31pm
holla_back:
syntheticshit:

To address above question@freezepops, DiffEq, Physics 2/3, i.e. anybody who actually has a fair amount of quantitative ability will have taken those courses before they step foot into college. Some people put it on their rez, but rest assured, it's really not impressive EVEN if you are not gunning for a quantitative job. There really is no point in taking quantitative subjects up to that level but not beyond--you aren't proving anything to the quantitative people, and the fundamental people will just think you are confused about what you want to do.

Diff. EQs in high school? Seriously?

Not kidding. Out of my friends on the quantitative side of things in finance (that don't have graduate degrees either), I am considered the dim and slow one--I took BC Calculus and 5'd it junior year of high school/DiffEq and Multivariable Calc senior year. They had taken those at least a year earlier. I encourage people to be fairly humble about their quantitative abilities when interviewing unless you are one of those top-300 Putnam types. If you are interviewing with a sharp quantitative desk, there are going to be very smart Ph.D's that have a very good grasp about how much you actually know and can make you feel fairly idiotic if you come across as cocky.

It's quite tricky to be in the sweet spot where you are not a professional quant but want to show you have quantitative ability yet be in a risk-taking role.

littlebitconfuzzled's picture

Thanks for all the responses,

 
Points)
 on 5/27/12 at 11:16pm
In reply to syntheticshit
JDawg's picture

syntheticshit: holla_back:

(Gorilla, 528
 
Points)
 on 5/27/12 at 11:19pm
Imperialian's picture

i think grades is more

ST
(Baboon, 173
 
Points)
 on 5/28/12 at 3:58am
SaucyBacon85's picture

I did stats AND math

CO
 
Points)
 on 5/28/12 at 4:30am

__________

seedy underbelly's picture

Just major in Finance and do

IB
(King Kong, 1,111
 
Points)
 on 5/28/12 at 5:06am
Charles-perry's picture

I do a stats + finance

(Orangutan, 273
 
Points)
 on 5/28/12 at 6:49am
In reply to JDawg
syntheticshit's picture

JDawg: you must've gone to a

 
Points)
 on 5/28/12 at 8:25am
In reply to seedy underbelly
mongoose's picture

seedy underbelly: Just major

O
(King Kong, 1,039
 
Points)
 on 5/28/12 at 11:32am
Toronto's picture

Just take the regular courses

 
Points)
 on 5/28/12 at 12:19pm
UFOinsider's picture

Major is irrelevant, GPA IS

O
(Human, 10,458
 
Points)
 on 5/28/12 at 12:54pm

I just had my first UFO experience.

I called my wife fat while we were making dinner.

Flying saucers everywhere XD

AstonMartin's picture

You'll learn more finance in

ST
 
Points)
 on 5/28/12 at 1:40pm
littlebitconfuzzled's picture

Thanks for all the input.

 
Points)
 on 5/28/12 at 6:23pm
Nebular's picture

If you're at a non-target

 
Points)
 on 5/28/12 at 11:25pm
In reply to littlebitconfuzzled
melvvvar's picture

littlebitconfuzzled: Thanks

(King Kong, 1,693
 
Points)
 on 5/28/12 at 11:35pm
littlebitconfuzzled's picture

@melvvar - so you read the

 
Points)
 on 5/29/12 at 9:40am
benney's picture

Well basically am IT

(Chimp, 2
 
Points)
 on 5/29/12 at 6:47pm

Always think positive...

In reply to littlebitconfuzzled
melvvvar's picture

littlebitconfuzzled: @melvvar

(King Kong, 1,693
 
Points)
 on 5/30/12 at 12:54pm
littlebitconfuzzled's picture

@melvvar - does that include

 
Points)
 on 5/30/12 at 12:59pm
melvvvar's picture

clowning clueless idiots like

(King Kong, 1,693
 
Points)
 on 5/30/12 at 1:44pm
littlebitconfuzzled's picture

Honestly, at this point I'm

 
Points)
 on 5/30/12 at 3:13pm
APAE's picture

If you go to Stern, you need

(Neanderthal, 3,712
 
Points)
 on 5/30/12 at 6:31pm

A lot of people do certain things to add days to their life. I do things to add life to my days.

In reply to littlebitconfuzzled
melvvvar's picture

littlebitconfuzzled: Honestly

(King Kong, 1,693
 
Points)
 on 5/30/12 at 8:47pm
littlebitconfuzzled's picture

Re: Choosing Stern. I didn't

 
Points)
 on 5/30/12 at 8:58pm
In reply to JDawg
holla_back's picture

JDawg: syntheticshit: hol

O
(King Kong, 1,192
 
Points)
 on 5/30/12 at 9:05pm
In reply to littlebitconfuzzled
melvvvar's picture

littlebitconfuzzled: Re:

(King Kong, 1,693
 
Points)
 on 5/30/12 at 9:16pm
holla_back's picture

OP -- Stern isn't the best

O
(King Kong, 1,192
 
Points)
 on 5/30/12 at 9:19pm
In reply to littlebitconfuzzled
seedy underbelly's picture

littlebitconfuzzled: Re:

IB
(King Kong, 1,111
 
Points)
 on 5/30/12 at 9:37pm

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