Will a Statistics master direct to jobs in finance?
Hi,
My background:
Third year Finance student in a top 20 European business school in a Nordic country. It’s a five-year program including both Bachelor and Master.
Current GPA: 4.2 /5 (don’t know how to convert into US 4-scale grading…)
No finance related W/E or internship….Some volunteer experience.
The school and program are good and reputable in the country, and it’s quite easy for local students to get decent jobs (I’m international student btw). Well I guess if I try very hard to fight against language and culture barrier, it won’t be totally hopeless for me to get a job after graduation. Problem here is I don’t feel like living here anymore (weather, language, culture, etc...).
I want to pursue a career in finance in the future. Since I plan to graduate with a finance master in summer 2011, it won’t make any sense to get another MSF in states, right? Maybe looking for jobs in States from Europe is very hard…
So I am wondering if a statistics master in states is helpful in hunting finance jobs. I can deal with numbers and I got almost full points for several statistics courses I had. I’ve been thinking about financial engineering, but I don’t have any experience in coding. I think financial analyst, or even more math-intensive like risk mgt could make more sense to me.
What are your thoughts? Will a statistics master improve my skill set to work in financial field? Or if you have other suggestions regarding my situation?
Best regards
bber
A statistics master is pretty solid, but you're going to need some relevant experience to actually give yourself a fighting chance. I have a stats undergrad and firms love seeing that shit, but I wouldn't have had the opportunities that I had if I didn't network and land some good internships before graduating.
What sucks is that you've pretty much missed the bus as far as summer internships in the states go for this year. I'm not familiar with recruiting in Europe, but you should do some research and see what big banks offer off-cycle internships in Europe. If you were able to land something in the fall, you could work instead of take classes and postpone your graduation until fall 2011, which would allow you to try for a summer 2011 internship as well.
Think you only have a 3.2 GPA not impressive.
As a European at a top American school I can tell you that a 4.2/5 from SSE or a similar European school is a lot more than a 3.2 GPA from a top American school... To the OP, I think that you will do fine. In Europe the summer internship during school is not as important as here in the US. My advice, try to get some work experience before getting into more academic training. A year or two will not make a difference in your opportunities to continue studying, and practical experience will give you a lot in terms of what you really want to do and to direct your future research and academic interests.
Good luck!!!
Thank you for your advice. :-)
I realized that internship/ working experience is really important. I've registered for a summer course program for this summer, but I think I will keep looking for possible internship or part-time jobs.
Can MS in Statistics be an option to get into finance? (Originally Posted: 12/15/2015)
1
Let's say you follow the standard 10 courses model. 4 core 3 required stats electives 3 remaining (quant, mathfin, whatever)
In this case, NO.
actually, stat electives consists of more than 3 finance related courses. So that means I can take up to 6.
But that's not really my question...
it's a program with predominantly chinese admits... I know like 5 myself from multiple years....
OT: Master In Statistics (Originally Posted: 03/25/2011)
Is doing a masters program in Statistics a good idea? I have an undergrad in Accounting, but always was good with statistics.
You're from boca raton?
Ya born and raised.. Where you go to HS?
This topic's off to a good start.
What do you want to do with this MS in Stat?
although it might not be the perfect degree for quant positions, I know quite a few people who landed good gigs with a stats MS (as quant analysts and the likes)
I'm thinking something like a statistican.
MSc Statistics: Good "add-on" to Economics degree? (Originally Posted: 11/09/2012)
Background: - Studying at "Top 5" UK university but not Oxbridge - Degree in Financial Economics - Graduating in 2013, expecting First Class - Completed M&A internship
Until recently, I was determined to get an MSc Financial Engineering or Finance. Most of the interesting degrees strike me as too expensive, however. I am neither willing nor able to pay > GBP 20,000 for an MSc (i.e. US universities are eliminated from the set of feasible choices).
Some interesting exceptions exist, e.g. Finance at Durham. Degrees from third tier universities tend to be really cheap but probably make no sense.
My newest idea is to get a Statistics MSc, or something related, as a quantitative 'hard skills' qualification on top of the Economics degree. Many of the degree programmes offer quite a few elective modules in finance and computing which I would definitely enjoy. My performance in statistics and econometrics has historically been strong. Working through economic or financial quantitative data seems like a dream job.
What do you think of the combination Financial Economics + MSc Statistics?
Do it. Make sure you learn to program very well (and love it)... because that's all you'll be doing.
Thanks for your response.
I used to program a lot while in high school and sometimes I regret that I haven't opted for a degree in computer science. In fact, the modules with (elemental) statistical computing in my current degree programme have been the most enjoyable.
How different would this combination be from Financial Engineering? I am still a newbie in college but have taken some programming classes and loving it! From what I've heard, MFE requires a lot of hardcore quant skills which I love. For the OP, are you interested in being a quant?
For MFE you'll only have a realistic chance if you're an Engineering, Math, or CS major (probably need a double major and to come from another top school...). Also note, at this point most top MFE class size is ~50 students... so competition is very tough. Check out quantnet for MFE specific advise.
will a master in statistics help me in that aspect? (Originally Posted: 04/04/2014)
hello, i am new to the forum, i hope i am in the right discussion.
I do a mini research and i am gathering opinions.
I live in a small european country, and generally i would like to stay here, but i want to be able to work in europe, if i have not. US market is not in my interests ( too far away from my home)
I study Accounting and Finance 4 year bachelor, with route in accounting i like IFRS, financial accounting (cost accounting too more or less) In finance, i am bored a little bit, I understand them, but the way we are taught, them so far, its not challenging enough (we just use, NPV, and IRR to evaluate investment plans, or financing sources, and bit of stocks/bonds/swaps valuating.)
after that i will sit for ACCA (it is nessesary here, in order to get the auditor license) the jobs i want? i will start in auditing (hopefully) and then depending on other factors
40% auditing, 30% banking , 20% corporate finance 10% get a phd and go academia
what i have in mind pretty much accounting focus + acca, i think any more accounting (like master in accounting) will be overkill and waste of time and money
so i have the options, mba master in finance master in statistics
my b-school is the best in country, without much competition i cant move abroad due to family attachments- lets take this for granted
mba-its good, (its ranked in best-masters) i liked the classes, the bad side from it it costs too much money (like all mbas anyway) and some classes like marketing or hr, bore me to no end but still the cost, is way too high
master in finance the cost is more reasonable it helps me, in all the choices i listed above but the problems -many of the classes are already taught to me, by even the same professors in my current undergrad program. i know in master it will propably go deeper, but in the end of the day i will talk about the same things, with the same professors, how innovative, could that be also my other concern, is that finance, is "softer" science (compared to statistics) so i dont know about the credibility the master will have...in england for example
master in statistics the main reason i opened thread it will be hard considering my background (i only have a bit idea of regression, ANOVA, confidense interval, hypothesis testing and VERY LIMITED propabilities) but i liked the classes. Also, it will be different and i assume (thats why i want opinions) it will help a lot in risk managment, or quant jobs
Also, if i want i can shoot a nice phd with it, in whatever i want (finance, statistics, econometrics, accounting)
And again (i think, please correct me if i am wrong) the statistics is more "universal" i mean, wether u were at harvard or where ever if u know statistics, its something technical.
Ideas?
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