Hey I'm doing a math degree and was wondering whether I should major in pure math, stats, or some other field. Which would be most sought for in trading and even some other finance professions?
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Applied math would be best. Stats would be good... trading is quite broad and it depends on which specific area.. I have some doubts about pure math..
Personally I would recommend a major in compsci. CS is never looked down upon IMO (it's a challenging major), some algo firms (Jump Trading, ect) really like it, and you can apply for software engineering / coding positions during internship seasons to give yourself a nice, lucrative backup career in software engineering if your finance ambitions prove too lofty.
stats is probably most beneficial for complex derivative products if you get to high-level coursework quickly. applied math is respected but not immediately applicable for trading unless you are out to optimize numerical pricing techniques. definitely recommend CS.
I would disagree, for complex derivative products applied math as much if not more relevant than statistics in my experience.
not gonna argue with revsly; all of those are great backgrounds to have regardless, just as an applied math major I wish I had a more formal exposure to stochastic calculus and all of that shit.
I'd say stats or computer science would be the most marketable. If you choose stats, make sure to take some cs classes as well. java and c++ are a must.
I'm a stats major.
Let me know if you have any specific questions.
Where are the lucrative software options? And how lucrative, comparable to IBD or S&T? Electrical engineering is far more quantitative, if you love math, than comp sci and usually more intense than a CS degree. Double CS/EE for a real challenge, many concepts complement each other but you develop software engineering as well as analytical skills.
Id say applied math if you do want to take that route, whats the point of doing some theoretical number stuff if it has no application to the real world? I find it far more interesting doing math calculating the heat transfer when distilling alcohol than finding the 7th integral of some bogus equation.
Lets get one thing clear.
There are huge amounts of overlap between majoring in math/applied math/stats in terms of the curriculum you can choose.
As a stats major I've taken: Multi-Calc, Linear Algebra, Differential Equations, Real Analysis, Stochastic Calculus, Monte Carlo Simulation, Advanced Probability, Stats, Linear Stats, Mathematical Stats, Stat Modeling, ..+..,
If I were a math major just replace two stats classes with Abstract Algebra and Complex Analysis.
If I were an Applied Math major just replace two stats classes with Dynamical Systems and Misc Applied Math.
And, all three majors will have a bare minimum of 1 programming class (I've taken Algo's, Java, C++ & MATLAB).
In the end it doesn't really matter which one you choose. Just make sure you take finance and accounting in your sophomore year so you can justify an SA position at an FSO.
Ah I see, for us that fell under applied math, not statistics. Agreed on stochastic calculus.
Also, yeah, it doesn't really matter, you can do it with pretty much any degree, you learn almost everything on the job.
If they see C.S. they'll try to recruit you for IT. Maybe minor in CS. Stats goes down the financial engineering road, never a bad place to be.
A Computer Science & Mathematics double major is ideal.
Alright so stats or applied math (probably both If i pick my courses right) it is
Hmm CS is looking really favourable in trading especially with the talks about automation and stuff so I am considering a CS minor. As mr_bigglesworth touched on, they might put me into IT which I don't want and if I wanted to major in cs I'd have went down the software engineering path (especially since my school is known for it), but I prefer studying math. Also I'm sure you'd have to be an exceptional programmer if you wanted to get into trading from a cs background.
I guess what I'm really scared of is that CS is going to become a prereq for trading in 5 or so years and having chosen math over cs will haunt me down the road. High frequency trading and FX automation might just be the start...
i'm currently doubling in math/comp sci . if you are in college to get shit done and not party then i suggest do both if you are the kinda person who wants to get laid and want an easy college expirence go with managment/buisness/econ/finance/psychology etc
Don't you guys have a "Quantitative Finance" major in Waterloo? I'd go with that.
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