Better major: Math, Econ, or Applied Math?
Which is the best major for ibanking?
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imo, double in math and econ. (or applied math and econ).
I don't think Econ is that quant. EGR, Physics, Math and Stat are all quant.
I would major in Econ minor in Math, you'll have an easier courseload that way. However, like searchingforbananas, if you think you'll get the same GPA than Math is looked upon as a more difficult/challenging major than Econ.
Shouldn't you be chosing what you like?
Honestly, if you dont like it, a math major can be brutal and you will hate every minute of it. I am an engineering and took plenty of advanced math courses but leaving aside a few people, most people didnt like it. And doing just that for a major would positively amount to torture for most of the folks with me (mind you, all were engineering majors and graduated with pretty high gpa's.)
So think again. That said, the keyword is a quantitative major (math/stat/physics/engineering whatever). No one has cares about math/applied math. In the end, you will start of as an excel jockey who will play around A LOT with numbers. No one will care much whether you majored in math or applied math. All they want to see is evidence of education which makes you very comfortable around numbers/models and manipulating them. Its not like the difference between math and history!
I'm a finance major with course focus on quantitative finance (financial engineering and start-up finance) and with extra classes in economics (intermediate level econ) and math (quantitative business analysis, cal 2, cal 3). I tried to create my own IB-oriented program by picking and choosing classes, ha.
The correct answer is whatever you will find the most interesting and will do the best in.
Although your interests should align roughly with the mentality described in SketchLayout’s pithy post, I think that a more specific answer may be desired for other users’ edification.
Note that any maths (yes, maths) from calculus and beyond will never be invoked in investment banking, private equity or hedge funds. Yet, we continue to see prospective financiers stress over the technical marketability of their majors in efforts to gain a recruiting edge. While it’s true that technical majors are more prized in the industry than are the standard humanities and business majors, why do banks continue to stack their Analyst classes with Business/Econ concentrators? Moreover, why do firms expect you to take mathematics courses at all, and, moreover, do well in them? It turns out financial firms are much more interested in the general penumbra of aptitude that comes packaged with each academically high-performing applicant. What do I mean by this?
Well, to do well in an introductory calculus, ordinary differential equations, and linear algebra (the standard mathematical fare for underclassmen), it takes a certain intelligence and mental acuity. But what separates the budding mathematicians who codify their logic and arguments in epsilon-delta proofs from the "blue collar"-smart future investment bankers is very different from what separates those successful Goldman Sachs/Morgan Stanley applicants from the inclusive population of non-maths majors. Those who earn a coveted slot at an investment bank tend to be the ones who aren't necessarily able to digest Rudin (http://www.amazon.com/Principles-Mathematical-Analysis-International-Ma…) in a single setting; rather, they are the ones who find a way to cram the minimum amount of material required to secure a top mark on an exam in the minimal amount of time (an optimization problem in itself!), juice extra points from positive off-line interactions with the teaching staff and professors (we are known for our charisma and preternatural ability to launch into rapport with just about everyone), and continually buffer their final score tally with "cruise points," which are almost passively-earned points from a variety of minority contributions to your final grade, such as homework assignments, class participation, in-class pop quizzes, etc.
Your ability to master these softer skills are not clear from the single data point of your final grade. Instead, it is just another tiny diamond on the enormous histogram of trials and tribulations suffered during your undergraduate years that encode your entire life, which is eligible for professional scrutiny.
Ultimately, the maths (look, the British use this term, and it just stuck with me) you need to know for finance will never even exceed algebra, as many of the models you construct for valuation or capitalization require basic arithmetic operations at best. [Side note: a good example to see is the set of quant questions tested on the GMAT]. So, if you aspire for finance, and when you finally do take calculus, remember that even if you will never need to consider situations that involve dangling catenaries or proving the existence of fixed points for continuous functions on the job as an Investment Banking Analyst, you can be sure that your academic and soft-skills success in securing high grades will have been responsible for your future successful candidacy at the Bulge Bracket.
Math or Econ major? (Originally Posted: 07/07/2007)
I just realized that I will only enough time (I'm a senior in college) to finish only one of my 2 majors - Math and Econ. Which should I pursue? Obvi, Math is a little harder and I risk a lower GPA but nothing I can't handle. All equal, will a math major be better for me or Econ?
oh, I go to a target school but my GPA is only mid range
whats your math gpa? your econ gpa?
3.4 and 3.6
I would think that a 3.4 in math would look better than a slightly better gpa in econ. The primary purpose for majoring in econ should be to show your interest in finance, so as long as you have at least a minor you should be fine.
Need help deciding major (applied math or econ). (Originally Posted: 09/29/2014)
I'm on the waitlist for one math class and one econ class. I could only go to one of those classes and the class that I go to will decide what I major in. My applied math major will be with a concentration in statistics whereas my econ major will be with a minor in accounting as well.
I want to go into banking after college and then either into PE or a startup, depending on the circumstances. What would you guys do in my situation?
I can't do the applied math/econ major because it's too many units.
I would do the econ major. Easier classes means more time to do extracurriculars, network and just enjoy college life
I would do econ for above reasons (plus more relevant than applied math if you're not working in a quant role) unless you're genuinely more interested in the math major. If so, do that - but make sure to keep grades up
Do econ ofc - all bankers have econ backgrounds - well most do. Or econ and history or econ and philosophy.
Speaking from experience here, do not do applied maths.
In addition, the accounting minor is also helpful. It implies a degree of comfort with the financial statements, if not proficiency.
Applied Math is for GDIs
Ok, so I'm doing the econ major with the accounting minor. Thanks guys.
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