Stats Major with a Finance Concentration?

Hey everyone, I am an incoming students to McGill-Desautels intending to major in Statistics with a concentration in finance under the Bcom program. The reason I have chosen this combination is because I want to build a strong quantitative base for myself while, at the same time, being exposed to finance. This way, I would have more options for career and grad school.

Investment banking and management consulting are 2 areas I am particularly interested in. Do you think this combination is suitable for me given my future career goals? Of course, networking and maintaining a good academic standing are very important in my case too. 

I would like to hear your input and comments about my major/ concentration choice.

Thanks a lot!


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Comments (5)

  • Analyst 2 in IB-M&A
Aug 26, 2021 - 11:13am

if youre driven enough and take the work to learn the content required to be an analyst (investment banking modeling courses from wsp, udemy, etc; mergers and inquisitions 400 questions, etc) you can make it. ive seen history majors try extremely hard and get the analyst job. a lot of ib stuff is taught on the job and not in schools, so theres not a lot of pressure to have only a finance-related major. just keep the grades high, network like crazy, ask upperclassmen how they recruited for ib, do the work to learn the technicals, and you should be fine

Aug 26, 2021 - 11:42am

if you're just interested in IB and management consulting, it probably isn't necessary to major in stats unless of course it's what you're genuinely interested in outside of career concerns. If you want more of a quant/quant trader/even S&T role then it's more useful to get a degree in stats.

Aug 26, 2021 - 12:25pm

The thing is I am interested in IB and consulting, but I want to keep my options for grad school open. Having a strong quantitative background is required for many finance masters degrees at top universities including MIT, HEC PARIS, OXFORD, IMPERIAL... In addition, a degree in stats would keep my options open for grad school in quant finance and other hot field such as data science and analytics.

In addition to all of this, I am getting my major in stats and concentration in finance at a target business school. Therefore, I would be ready for all jobs in finance, quantitative or not quantitative. 

What do you think of this approach?

Aug 26, 2021 - 4:32pm

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