Hey monkeys,
Freshman undergoing a dilemma right now. I was recently admitted to (arguably) the best major in an Asian target university: BSc in Quantitative Finance, and I have a choice between this and a regular BBA in Finance. Just a few pros and cons in my mind:
Pros:
The former has a very solid alumni network, lots of the alumni are working in high finance jobs, with the fact added that it's "exclusive" since only 6-7% of Business undergrads are admitted to this major, seniors say that alumni are more willing to help due to this fact.
Statistics show very good industry placement and very high mean starting salaries, plus some firms contact the department directly and ask for our CVs (at least that's what they sold during the info session!)
Banks in the cities I'm aiming for know that this is a very challenging + rigorous course, heard this from alumni as well, so might be more relaxed for minimum GPA requirements.
Good non-academic programs that the regular BBA would not have; such as career mentorship program and QFIN-exclusive seminars.
Cons:
My main concern: My GPA will definitely take a free fall due to the really heavy math-oriented courses; I see myself graduating with not more than a 3.3/4.0, more likely 3.0/3.1, good for Second Class Upper. Compared to the BBA in Finance, I see myself graduating with a 3.5-3.6.
Definitely less time for extracurriculars (and social life!)
Even though statistics show very good industry placement and very high mean starting salaries, I just feel that this is because of self-selection bias.
I feel that a low GPA would also be a hindrance later on when I apply for B-school programs.
So monkeys, what do you think? I feel like I don't deserve to be admitted to this program, but I read a quote just yesterday:
"I'm a firm believer that your own opinion of yourself should never be a limiting factor in how far you go in life. If someone offers you an opportunity that you don't deserve, you grab it and you work your ass off to make yourself deserving of it. Never underestimate what you can do, leave that to other people."
Any thoughts from you monkeys? Go for the prestige or the GPA?
P.S. I'm aiming for a career in Trading / Asset Management, IBD and Sales are secondary choices.
Thanks!
Edit: @MarkBaum" suggested that I should post the courses, so here we go:
BBA Finance:
- Investments, Derivatives, corporate finance and Valuation
- 2 Financial Accounting courses
- More flexibility since there are more free elective courses (4 to 6)
BSc Quant Finance:
- Same as BBA Finance minus financial accounting
- Math side: Single and multi-variable calculus, with several electives; probably going for two probability courses since I heard many trading interviews have this, and econometrics. Quant trading is a course.
- CS side: VBA, might go with a course in statistical analysis with R and OOP class (C++)
- Less flexibility, only 1 to 4 free elective courses.
Go for the one that will give you the highest GPA. Banks have a cutoff GPA of 3.5 that is very literal and real. Don't go for "the future" because there is a very small chance you will die before the future so focus on the present.
TLDR: Get the highest GPA and voila :D
I don't see why you'd sell yourself short like that. The fact is that A. you're a freshman and B. investment banking isn't everything. You graduate with a finance degree and you have one option: get a high GPA and go into banking/consulting. You graduate with a quant finance degree and you can do anything, because quantitative applications are the future. Don't "bank" on getting a low GPA just because you challenge yourself. With that mentality, you're just going the low-risk route and ensuring you get comparatively low return.
I graduated with an economics degree, and my biggest regret was not doing a BS in Financial Mathematics that my school offered with a CS minor. It gives you the range and quantitative chops to handle just about anything. GPA is only important your very first year out of college. Past that it's only important if you're targeting intake programs like PE shops that want 2nd-year professionals, B-School, or HFs recruiting undergrad/grad students. That's a ridiculously narrow range of employers to choose a degree over.
If you graduate =>3.0 in quant finance you're golden. If you get =>3.5, you're god. If you get a 4.0 with a finance degree, join the club with all the other kids who did the same thing, or go cry in a corner if you got 3.5.