Hey guys,
Short Version:
Which aspects of Finance are slightly less quantitative (particularly where trigonometry is concerned)?
Long Version:
I'm a current transfer applicant for an undergraduate finance degree and I had some questions for you more experienced people about the different types of Finance. Because I graduated high school in 2011, I hadn't taken a proper college math class until last semester when I took business calculus (Received an A) and Statistics (Received a B). Rutgers had a requirement where I have to take regular calculus in order to even be considered, so I enrolled for this semester but I'm not doing so well. All of this trigonometry is killing me. It's based on all the precalc stuff I took in 10th grade that I've since forgotten. I was fine with derivatives and limits and practical applications in business calc, but this more abstract trigonometry is really difficult for me. That brings me to my question:
What aspects of finance would be better for me to focus on? If I have to, I am prepared to take a trig or pre-calc class over this summer before I attend a 4 year institution.
I appreciate any advice from more experienced people than myself.
Thanks!
I'm not aware of any areas of finance where trig is concerned. If you're interested in a non-quantitative role, institutional investing (family office, pensions/foundations, investment consulting) is relatively qualitative. There will still be basic metrics related to fund level performance vs benchmarks, portfolio metrics, and pricing valuation, but ultimately fund investing and asset allocation requires a lot of primary reading and research to develop an informed opinion.
Ultimately, most of finance is pretty basic math that is dressed up. The ability to tell a story beyond the numbers is what becomes most important as you gain a few years of experience. Others might point you towards sales and relationship-oriented positions as well.
First of all, thx for responding.
I should clarify that I'm not scared of quantitative analysis or basic algebra, so I'm prepared to do that. I just read that in some more complicated areas of finance you have to know sine/cosine stuff because you deal with wave functions and predicting cycles but that sounds more like econometrics than finance to me?
Dude you will never have to use trig or any real high level math in finance unless you want to be a quant. Which is more reserved for people with graduate level backgrounds in STEM fields, which you won't even touch the basics of in an undergrad finance degree. All the math in finance undergrad is like the above said, very dressed up and can look intimidating if you don't have any background. But at the core it's mostly just arithmetic, algebra, and basic stats. Better to focus on your comprehension skills and accouting knowledge
I definitely wouldn't be qualified to be a quant so that's good to knw!
Less-Quantitative FO IB Role? (Originally Posted: 05/11/2014)
Hello all
I am an Econ Major and are currently working as a data consultant, but would like to break into IB. My current job requires me to handle alot of data (VBA/SQL), but i am not a fan and i am more interested in the project management aspect.
Are there any (entry level) FO roles in IB that are less quantitative? Roles where i can focus more on structuring projects and dealing with clients, and less on modeling.
(I know the higher you get the less modeling there is, but i'd rather not spend 6+ years doing something i dont enjoy.)
Thanks in advance
/S
One of the ways investment banking divisions make money is to provide valuation services to clients, valuation = modeling. The truth is as an Analyst and Associate it is your sole job to make models/do all the grunt work. Although VPs and MDs don't make models they are the subject matter experts in either coverage or product group so they need to know their stuff. You can't really learn by not doing it any modeling work.
There roles within a bank however that are similar to consulting for the bank itself that is not as modeling heavy.
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