Math majors vs finance/econ majors vs other

I am double majoring in Applied Math and Economics, does that add anything to my resume?

listen to structure. i have nothing to add here.

They all want math backgrounds... they don't give a shit about finance. The only questions I get are: How good are you at math? How good are you at excel?

I talked to an alum who was at JPM, he was a MD on several committes and he said that there were several MDs who were pushing to only accept engineering and math majors. This was about two years ago. It didn't happen, but that is the mentality.

Um, because you need to do algebra in excel (at the most)? Even psych majors can do that. Having a math major adds no value to IBD. Econ doesn't add that much value either. Don't listen to the hype. Any major is fine, with acct. / fin. > everything else since you can get a faster start out of the blocks.

nsmith, which program shows more aptitude, math or accounting?

Furthermore, what can an accouting major do that a math major can't with a small amount of study? You can talk about relevance all you want, but realistically an accountant doesn't have any advantage over a mathematics heavy discipline in IB, because one can learn tax structures and balance sheets much faster than any applied math concept.

I'm a triple major currently in finance, accounting and management science and when I interviewed my interviewers were most interested in the mgt science because it was different and showed a way of problem solving and out of the box thinking that finance/accounting don't have. I recommend if you can do it a mix of math/mgt science/stat type of degree with a finance/accounting type of degree. The first shoes your intellectual horsepower and the second, esp finance sort of explains away a specified interest. Mgt science is a more practical version of operations research so think lots of statistical analysis, modeling etc. for business solutions and strategy.

over a psychology/history because the former requires analytical and logical reasoning skills. Sure, it might not put you at a significant advnatage in IBD, but the skills you develop will be very helpful in the future. If you can do Finance/Math degree and maintain solid GPA, that would be ideal.

ib is math lite...sales/trading is math medium at least. not much room here if numbers scare you but the average guy on the floor isn't doing calculus at work either. but some are.

Not very many entry level (not all, but not very many) jobs require that much specfic knowledge of whatever particular industry. Other than maybe law and medicine. It all comes down to having a decent enough resume to get an interview, and then the rest is presenting yourself.

nsmith, i think you missed my point.

I am saying that being a math major shows more than just quantitative aptitude, it shows a dedication to learning difficult subjects. I think most people will agree that math is harder than accounting in nearly all aspects, therefore it would make sense that the person with higher general aptitude (ie, the math, physics major) would be able to adapt for a difficult position better, in all aspects.

That being said, it has been discussed ad nauseum that the concepts in ibanking are not difficult. What's your point?

If you are making the arguement that your major is irrelevant, and that you simply need to be a hard worker, then why is it that BB's recruit from top schools? I know plenty of people at top schools with grade inflated GPAs in finance, accounting, etc who have limited aptitude, yet i know very few physics and math majors who i would describe as limited in intellectual ability, even at the state school level.

Now, if we are talking about interpersonal skills, that is a different story. Certainly those inclined to the mathematical professions could be considered weak in this area, but you are painting people with a pretty broad brush. And it seems to me that people with weak personal skills typically avoid prefessions in which they would need to utilize said skills.

Furthermore, you have yet to describe to me what about the job a math major can't due. Gather qualitative information? Critical reasoning skills? Please. Why is it then that most math intensive majors (phys, math, chem) score higher on the LSAT than "qualitative" majors like history and PS? Because critical reasoning and logic has more of a basis in math than any other discipline, and learning how to read and gather qualitative information is comparitively simple.

More and more this entire thread serves only to dispel the myth that one major is better than another for this career, which is exactly my point.

I think it's a bad idea to compare math and accounting. There is a very fundamental difference, math has very well-defined, simple rules and laws of how mathematics work. Accounting is full of random rules and regs. I get the feeling that true "math" people would absolute hate accounting for the lack of unifying structure.

IMHO, the best reason for an undergrad interested (strictly) in IBD to major in math to prove that he/she can bust his/her ass.

If you can spin a compelling story about how you had to complete six problem sets a week for your math major on top of all your economics coursework, you may get your interviewers excited about your ability to endure neverending streams of grunt work (it worked for me during the BB SA process).

Look it's quite simple.

Math will open more doors than finance/econ.

Yeah I know it's broad, but I was referring to things outside banking as well. hedge funds and other quant positions almost go exclusively for math majors. the first question DE Shaw asked my friend during an on campus interview was, "what's the highest level of math you've taken?" the whole interview consisted mainly of 1 real analysis proof.

In this discussion, it's important to keep the context in mind. As a die-hard Math/Econ major, I'd certainly prefer one of my own who has an uncanny knack with figures to do some good old-fashioned, slave-labor, mind-numbing number crunching. However, when the time comes to take those numbers, go out and express them to potential clients, I'll be the first to admit I'd favor a chump with an English/Rhetoric/Law background who's got a way with words. We quant majors never been accused of being the most articulate bunch and quite frankly, there are many amongst us who still wince at the thought of writing a paper.

However, this topic could be discussed ad nauseam; it's really an infinite regress. I'm personally partial to my Math/Econ background, but in terms of what opens doors, it ultimately comes down to how the individual packages and markets the collective experience.

My friend is a Comparative Literature/History major who hasn't had a math class since high school and couldn't tell you the difference between a stock and a bond. SA on campus interviews came around, and he threw his resume down on a whim. Without reading a page of Wetfeet, Vault, WSJ or anything related to finance, he absolutely crushed the scene (4 BB offers, 1MM, 1 Bain Cap.) on the grounds that the rigorous analytical skills involved in the analysis of erudite literature and esoteric historical events were readily transferable to banking. All the while, many of my fellow M/E majors who'd had their sights and studies set on these gigs for years were left in the dust. Is my friend's case an exception? Absolutely. However, the real lesson to be learned here is that certainly, different majors can open up different doors; but what is really going to open up the most doors is how you are personally able to make it work for you.

If you go to a target, it doesn't matter. I promise. Besides, there are many humanities/social science types at targets who got 5s on their Calculus APs, 700+ on SAT/SATII math. Which means they can do math but prefer other subjects, and also makes them stand out in interviews.