<p>I really want to major in finance during college. However, my math skills are not good. I gets Bs in my math classes, and a really low math sat score. Is this a right major for me?</p>
<p>Thanks for comments</p>
<p>"Are superb math skills necessary for IB"?</p>
<p>No.</p>
<p>Although I suggest you read up on what investment banking actually is. People who ask questions like this are generally clueless as to what the job actually entails.</p>
<p>Depends on what kind of work you want to do for an investment bank....if you want to work in corporate finance (M&A etc) you don't need superb math skills at all....but if you're into quant finance (derivatives pricing, quant research etc), then you're going to need to be really good at math....as far as whether or not a finance major is right for you is concerned, you would need to go up to at least Calc I or Calc II (depending on your school), and some finance classes are pretty math heavy, so you are going to have to be decent at math to do well in those classes</p>
<p>For markets (where the big money is) you will need to be comfortable with math. For IBD (CorpFin/M&A) you basically need to know how to add, subtract, multiply and divide.</p>
<p>^^ Couldn't have been more succint</p>
<p>What math courses are essential for quant finance? Thanks.</p>
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For markets (where the big money is) you will need to be comfortable with math.
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</p>
<p>What do you mean by markets? Like trading? Do you make "big money" in quant finance?</p>
<p>^^ yea i was kinda wondering about the same thing...do quant analysts make as much as the IBD(CorpFin/M&A) analysts? how do the base salaries and bonuses compare for the 2 groups? is it only the actual traders who make the big bucks, or do the quant researchers also make good money?</p>
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What math courses are essential for quant finance?
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</p>
<p>Courant</a> Institute of Mathematical Sciences NYU</p>
<p>The link above directs you to the MINIMUM level of math you need to know to be admitted to NYU's quant finance program...that might give you some indication of what kind of math quant finance involves</p>
<p>I really don't think it's fair to say markets are where "the big money is" and leave M&A in the dust (at least at the BBs -- I'll concede a HF trader/manager will make more than the head of IBD at a bank).</p>
<p>Trading seems to have a larger potential upside than M&A, in the vast majority of cases. That includes traders at BBs, Hedge Funds, and boutiques. Not to say that M&A bankers are living in the poor house, but they certainly aren't doing the best out of everyone in most cases -- especially not in a bear market. </p>
<p>sup:</p>
<p>Markets is essentially S&T. You don't need to be a quant whiz to be a trader (although it may help for trading illiquid exotic derivatives). You just need to have an excellent understanding of economics (both micro and macro), be able to learn quickly, be cool under pressure, and be patient. You also need to be up to date with relevant knowledge for your product/industry, and have an analytical mind rather than just conforming to others around you.</p>
<p>Quants are the guys who build the models that traders use. Sure there's very good money in it, but nothing like guys who actually have a P&L, aka the traders.</p>
<p>can someone explain to me what IBD(CorpFin/M&A) analysts is? And what are the other non-math related areas of IB, and would own less than those who require substantial amount of math knowledge?</p>
<p>Why are you interested in investment banking if you don't know even know what an IBD analyst is? Really, do some reading on your own and come back when you have more substantial questions. This is all really basic.</p>
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Why are you interested in investment banking if you don't know even know what an IBD analyst is?
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Because they make a lot of money.</p>
<p>don't ever say that in an interview lol :D</p>
<p>haha but honestly, most people are in it for the money</p>
<p>lol, i read in a book called Liar's Poker that when the interviewer asked the protagonist why he was interested in I banking, the protagonist paused and said that he wanted to make a lotta money lol....the interviewer got annoyed and he didnt get the job rofl</p>
<p>Nothing wrong with wanting to work for money, beats trying to get rich quick....</p>
<p>Some "math" skills you might also want to acquire to go above the "minimum"</p>
<p>Our staff includes a number of Rhodes, Fulbright, and Marshall Scholars, Putnam Fellows, and the winners of more than 20 medals in the International Math Olympiad. Current employees include the 2003 U.S. Women's Chess Champion, a Life Master bridge player, and a Jeopardy winner, along with a number of writers, athletes, musicians, and former professors. Over 100 of our employees hold Ph.D.s, almost 40 are entrepreneurs who previously founded their own companies, and approximately 20 percent are published authors whose work ranges from highly technical papers in specialized academic journals to award-winning mystery novels.</p>
<p>D.E.Shaw</p>
<p>That's just DE Shaw, which is known to be full of technocrats. Most profitable trading strategies don't require anywhere close to that level of nerdiness.</p>