Double Major in Economics and Statistics V.S Economics and IOE
Hi, I am an rising sophomore (international student) at University of Michigan. I currently submitted my application for Ross BBA but highly doubt that I will get in. If I do not get into Ross, would a double major in Economics and Statistics allow me to enter IB and trading with a little bit of networking, assuming i get gpa of 3.5+?
or should I transfer into the engineering school and get a double major in Economics and IOE? I know the college of engineering at michigan is very prestigious, and I'm hoping that it would help with the IB recruitment?
Which of the two is a better option for me to enter S&T and IB?
Stats vs. Engineering, that's a tough one. Honestly, I'd say go with whichever one you find more interesting, since they're both rigorous and marketable. In my case, I'd do Stats over Engineering, but that's just a personal preference. By the way, have you ever considered doing Econ and Math, instead of the two options you presented?
I did stats as UG and I felt that it led to an "engineering" like credibility when it came to interviews and people pointed that out on my resume. The rigor of stats wasn't as bad as any engineering major too which is an added bonus. The only problem is that you won't be able to do an engineering type job as plan B if you wanted to.
If you are looking to go into IB, I would play up the econ card more. A double major (if you can do it feasibly) won't hurt.
Isn't stats more abstract too (which, in my opinion, is a plus)?
It depends what classes you take. I took two semesters of computational finance and it was very data driven. Most intro stats courses will be theoretical, like micro/macro economics. And of course there are other abstract stats courses like game theory and such, so it depends what you're interested in.
thank you for the replies! I have considered doing math and econ..but math just seems way too complicated beyond Calc III...i don't think i can graduate with a good gpa from it
ooh k @electriclight so basically the additional degree in stats would only help me right? because I have heard that stats is very useful to a degree in investment banking and trading
Would the double major make up for the fact that I am from the general LSA in Michigan tho?
The math in IB is a joke and so Stats is not really applicable on the job - it will only help you in recruitment by showing you have quantitative skills and did a rigorous course of study in undergrad. The same goes for Econ, and at the higher levels econ is basically applied Stat. Econ is helpful in getting a basic feel (although abstract) for how economic interactions and financial markets function.
Trading might be a different story as far as actual on-the-job application of a quant degree goes
actually, even organizational studies might not be too bad i reckon?
deal_mkr has some good points. However, doing math or stats is something that will expand your mind and keep a lot of doors open. Just my 2 cents.
I don't think the stat major is inherently useful for landing a IB or S&T job, nor is any of that knowledge you learn in class going to be applied in those jobs, but having a quant degree does open a few more doors, like being an actuary and such - most of the stat grad students were gunning for those jobs, although it sounds really boring, it pays well and steady.
I don't understand why stats wouldn't be useful for S&T?
I'm in a similar situation although I've already accepted the offer. I went with a Economics and Applied Mathematics double major. Assuming GPA is good, are the post-undergrad options just as open as if I had a BComm or BBA? I'm interested in Oil&Gas M&A/PE LBO.
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