Double major Math+Finance?
Hello! Currently I'm currently a freshman at UT McCombs school of business looking to work in finance. Possibly IB or quantitative but I'm still learning about the different fields so I am trying to keep my options open. I have been heavily considering adding math as a double major to finance with the hope of it helping in recruiting while also opening up more options in case i decide to pursue quantitative. Additionally, I will be pursuing a CS certificate (a little more credit hours than a minor) but I can still graduate in 4 years. Is a math major in addition to finance worth the work and will it help in terms of landing a job? If I were to major in math which track should i pursue between actuarial sciences and applied mathematics? I am confident I can keep a solid GPA. Any advice is appreciated, thanks!
If you can keep the GPA, go the applied route (actuarial is too specific, and I'd recommend against even if you want to be an actuary as it will give you less options). Unless you are going quantitative then math will not really help you in a day to day function in finance, aside from giving you better analytical abilities than most of your peers. It will, however differentiate you when applying and give you a leg up on most people that are just finance. Secondly, I know you think you can keep a high GPA, and I don't doubt you can, but don't major in math unless you enjoy it as well; you will hate the decision you made while sitting in analysis or abstract algebra if you only did it as a resume booster
Thank you so much for the advice! I really should've mentioned that I actually do enjoy math. While at times it can be challenging, math classes are one of the few classes where i enjoy doing the homework and studying
Thank you so much for the advice! I really should've mentioned that I actually do enjoy math. While at times it can be challenging, math classes are one of the few classes where i enjoy doing the homework and studying
Assuming that your definition of a "solid GPA" does not change substantially from a sole finance major to the dual finance-math track, you should go for it. Particularly at larger state schools like UT, even with BHP considered, it is becoming increasingly difficult to differentiate yourself to recruiters and employers since most kids take on the same extracurricular activities and interests. Pure mathematics will not only demonstrate your quantitative interests and abilities, but it will also give you a framework with which you can think and make split-second decisions in the above-mentioned career paths (and beyond).
If possible without taking crazy numbers of hours each semester, I would also suggest looking into a stats minor/certificate/major (there should be a decent amount of overlap between the two). Before jumping in head-on, ensure you have convinced yourself, with certainty, that you enjoy the theory behind numbers (BS math) vs the computational aspect of numbers (more on the BS stats side).
Hope this helps - I was/am asking myself these questions too!
Hey thanks a bunch for the advice! To be honest stats is my favorite math class I've taken so far, however my school doesn't offer a statistics major. I also was heavily considering the applied statistical modeling certificate but i think i prefer the cs certificate so that i can build some fundamental coding skills.
Ah, apologies for the oversight. CS>Stats modeling 100%. You should take the certificate a step further by teaching yourself basic Python and r, despite being a freshman. Hold yourself accountable by joining CS-related clubs and sneaking into CS projects. All the best
Thought you were crazy for saying UT doesn't have a stat major, but looked it up and you're right. Astounding that a massive school of that quality doesn't.
Absolutely do it, and as others have stated, unless you want to be a fucking actuary calculating insurance premiums for the rest of your miserable life, take the applied math route. Definitely more applicable and a math major will help differentiate for IB recruiting AND open avenues for quant based PHD / quant roles in S&T / HF / AM / etc.
I was once told "you can teach the finance to the math wiz, but good luck teaching the math to a finance wiz"
This assuming you can maintain a 3.7+ (you should really be able to have near a 4.0 in Finance and maybe a low 3.XX in math and have it average out to near 3.7
Haha that quote is great, thank you for the help!
Finance classes are that easy that you can get a 4.0 GPA no problem?
Anyone that can do well in a math major should have no problems getting a near 4.0 with minimal effort in any business degree (finance, accounting, econ included). But again, just getting great grades does not necessarily mean you will then excel in that particular field as there are a lot of other factors, i.e. personability etc.
Hey, I'm also a finance and math major at UT. Did you end up double majoring? If so, did what degree plan are you taking for math?
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