Cornell Math + Business Combo
Incoming Cornell Freshman, admitted to College of Arts and Science
I want to become either a quant or IB trader after I graduate because of the high compensation
My plan is to Major in CAS Math and Minor in Dyson Business.
The reasoning is Business minor will give me a chance to get recruited to IB, while Math Major will allow me to be a quant in case IB recruiting doesn't work out for me.
Is this a solid Major + Minor combo
I don't want to put all of my eggs into the same basket, since going all in on business major and not getting recruited leaves very few alternate employment options.
I'm open to better major+minor combo that will give me a shot at both Quant and IB
Based on the most helpful WSO content, your plan to major in Math (CAS) and minor in Business (Dyson) is a solid combination for your goals of pursuing either a quant or IB trading role. Here's why:
Quantitative Rigor for Quant Roles:
A Math major provides the strong quantitative foundation required for quant roles. Many quant positions value advanced mathematical skills, and a Math degree will prepare you for the technical challenges in this field. If you decide to pursue a Master's in Financial Engineering (MFE) or a similar program later, your Math background will be a significant advantage.
Business Acumen for IB:
The Dyson Business minor complements your Math major by equipping you with business and finance knowledge, which is crucial for investment banking (IB) roles. Courses in finance, accounting, and business strategy will help you stand out during IB recruiting.
Flexibility and Risk Mitigation:
Your approach of not putting all your eggs in one basket is wise. By combining Math and Business, you keep your options open for both quant and IB roles, ensuring you have alternate career paths if one doesn't work out.
Potential Enhancements:
Consider Adding Computer Science:
If possible, take a few Computer Science courses or even consider a minor. Programming skills (e.g., Python, R, or C++) are highly valued in quant roles and can also be useful in IB for data analysis and automation.
Networking and Extracurriculars:
Join finance-related clubs, business fraternities, or quant-focused organizations at Cornell. These will help you build connections and gain practical experience, which are critical for both IB and quant recruiting.
Internships:
Secure internships early on in both fields to test your interests and build your resume. For example, a summer internship in a quant role and another in IB will give you clarity on which path suits you better.
Alternative Major/Minor Combos:
Math Major + Computer Science Minor:
This combo is ideal if you're leaning more toward quant roles but still want to keep IB as an option. You can supplement your business knowledge through electives or extracurriculars.
Dyson Business Major + Math Minor:
If you're more inclined toward IB but still want a quant backup, this combo works well. However, it may not provide the same depth in quantitative skills as a Math major.
In summary, your current plan is well thought out and aligns with your goals. Just ensure you leverage Cornell's resources, network actively, and gain relevant experience through internships to maximize your chances in both fields.
Sources: Cornell Dyson vs. Dartmouth for Undergrad, Majoring in Wall Street?, What are the different career areas of wallstreet?, https://www.wallstreetoasis.com/forum/school/dilemma-quantitative-finance-vs-finance?customgpt=1, Deciding on quantitive majors/career path?
Finance is best for IB. CS is also important for a lot of quant roles, although some firms don’t require coding experience (Math + CS is ideal for quant, business/finance doesn’t matter much). I’m also not clear on whether you mean IB in general or specifically a sales and trading role at a bank — classic IB is a very different type of job to quant/trading. Either way, if you want to work at a bank, finance would be helpful though.
Also, if you end up with a major + minor, just consider that there’s nothing stopping you from listing it as a double major and then changing it after you’re done recruiting…
Which is more important for quant, CS or Math?
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