How much math do you guys use
Currently re learning math for college. Never cared about it or thought I would need it. Well what do you know I do need it. Pretty much have 10 months to get to pre calc from algebra 1. I dedicate a few hours a day towards it. Anyway my question was how much math are you actually using on the job. What type of math are you expected to know? Kind of stressing about this as it obviously isn’t my strongest. Though in 10 months who knows.
Barely any. I didnt even take a math class in college
Wow that’s amazing. Thank you for telling me
Like some have said, you really only need Excel to do the job.....
HOWEVER, if you are good at math, you will excel at the job, particularly being able to come up with ballpark answers from the top of your head. For example, if the partner asks how much do our returns go down if costs go up 10%, an answer of "the IRR will decline by 2% or 3%" is a LOT better than "let me go back and calculate that". Questions like that are asked all the time and they are usually your opportunity to shine when in a meeting with a bunch of other senior people.
So to some extent, math doesn't matter at all and to some extent, it is super important. Do you need to know the quadratic equation. No, but you do need a general good feel for numbers.
Yeah, so middle school level math. Just be good at calculations/arithmetic. No need to take college math classes
Responding to [Zennified] as well. Yes, pretty basic math and being good at mental math....however, how many people do you know that are good at mental math but never do any math? How many do I know? None.
Also, you would be shocked how many times I've had to explain the most basic high school math to MDs and partners in this business. Real life stuff that I've been asked, "If the price X increase by 50% 5 years from now, what does that do to our value?" Note the price of X is 10% of COGS and we're discounting at 25%.....what do you think the impact is.....next to zero. If you're good at math, you can explain that right away. If you're not, you're rerunning the model like an idiot to explain a 0.2% IRR impact on your model. Worse yet the conversation turns to how we really need to worry about the price of X while you're busy rerunning your model.
So that would be more mental math correct?
A well trained 6th grader could probably do all the math that an IB analyst does.
I'll disagree with the common spirit of this thread. It's all about "comfort with numbers". Telling someone not to learn math just because IB is typically addition and subtraction is like telling a basketball player not to lift heavy weights because the ball is <2lbs..
Not really. Math classes in college are theoretical and the work involves a lot of proofs. It's not just calculation/arithmetic like you do on the job. Sure, studying math can improve your thinking skills, but same can be said about other STEM/technical fields.
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