<p>I'm thinking about adding a math major on to my econ major. I am currently a soph @ vandy and we can't major in fields like finance. I was wondering how desirable math majors are to employers in the field of finance or banking or anything like that. Is it worth the trouble of going for the math major or do you think the same opportunities would arise from just having an econ major? Thanks!</p>
<p>econ + math is among the most desirable combinations you can have when applying for banks, especially in the highly competitive area of S&T. Do well in your studies at Vandy and you will see opportunities opening up for you.</p>
<p>Going along with what nauru said, econ + math is a great combination.
Honestly if you're a math major, you will find it pretty easy to get s&t interviews, banking interviews, whatever you want.</p>
<p>I used to be pure econ and realized it was one of the most bs majors out there. I don't know how good vandy's department is but at my school our department is terrible. what good is an econ degree for? most people who take it learn about supply and demand, and all the other theory stuff they quickly forget. thinking about grad school? an econ undergrad degree is almost completely worthless there. if you compare an econ undergrad degree with 1 college level math class (let's say multivariable calc) and a 3.8 and a math major with one college econ class (let's say principles of economics) and a 3.8, the math major is going to get into the econ grad school 99% of the time.</p>
<p>The only thing good about an econ degree is 1) it is very easy to get a high GPA, 2) it gets you involved more or less with macroeconomic phrases, and 3) it may help you learn some consulting buzzwords like barriers to entry, marginal output...etc. #2 you can pick up yourself just by reading marketwatch or the economist, and #3 you can pick up by reading businessweek. </p>
<p>so, in short, unless you can't think a math major will kill your GPA, go for it. Heck, i'd even drop econ and go for math. this is coming from someone who LIKES econ and struggles with math. i'd argue that an econ degree might even hurt someone more than it helps, simply because someone might start asking macro-questions (what was GNP last quarter? what percentage is Net exports relative to GDP?.. i got these questions from an investment bank that i was dinged for).</p>
<p>Those are probably the dumbest IB interview questions I've ever heard. The questions tell more about the person asking than the person answering IMO. I say this as an econ/math major.</p>
<p>yea the questions were pretty dumb. </p>
<p>to add, there are a kajillion econ majors out there and math will get you noticed</p>
<p>what about a math minor not necessarily a major? </p>
<p>thanks for all the help so far!!</p>
<p>I am putting together my schedule for my soph year and I'm torn whether i want to continue with math. i feel like i'll get to a point maybe linear algebra or multivariable and it will be over my head- and then i'll be screwed.</p>
<p>^ I'm pretty much in the same boat as you are. I just told myself I would keep on taking math courses up until I felt I was in over my head. Hopefully, by the time that happens I'll be a few credits away from the major, so then I'll just force myself to finish it.</p>
<p>Nobody cares about a minor. That's what, like 3 or 4 courses and then you've got a "minor"? Take math as a second major if you want to impress.</p>
<p>I agree with Nauru, minors are don't really help you out from a recruiting standpoint.</p>
<p>Also, multivariable calculus and linear algebra are basic 1st/2nd year courses that a BSc in Economics would require. It is unlikely they'll be over your head unless you are particularly bad at math. Academics just like to give fancy names to relatively straight-forward concepts.</p>
<p>I'm not sure how you could even show basic economic concepts from 1st year micro and macro without using multivariate calculus.</p>
<p>what if you triple major in math, economics, and finance or chinese or something? will it look good? is it even possible?</p>
<p>^^ I think you are just looking for pain, not to mention you'll be spending so much time with the core requirements that you won't have time to get to take interesting classes. That's my own personal opinion as a Finance & Math Major.</p>
<p>a math major seems pretty much useless to me if you're not going into S&T. that's probably the only area where you would apply math. a math major would be overkill for IBD...i don't think you need math beyond precalculus for IBD</p>
<p>Math majors are incredibly desirable for such lucrative positions as:</p>
<p>equity exotics structuring
commodity exotics structuring
exotics trading
algo/electronic trading
quantitative analytics
rates trading strategy
stat arb strategy
and of course anything in a hedge fund like DE Shaw or a prop shop like Jane Street Capital.</p>
<p>Business majors are unlikely to be asked to go anywhere near these areas. These positions are paid exceptionally well because there aren't many people who have what it takes to do a decent job at them (unlike IBD).</p>
<p>exactly. in my entire 4 years of business school, i can just see about 2 or 3 classes being relevant to the areas mentioned above. (classes like options and futures, debt instruments etc). it's my math major and classes like financial math which will help me get into those areas above. i just applied to business schools to have access to recruiters, networking events etc</p>
<p>I wouldn't say a math minor is useless at all. At my school, that would have been around 6 math classes. I did a combined mathematical economics major that was effectively 10 economics classes and 5 math classes and got the impression that it positively stood out in pursuing IB analyst positions in comparison to a general economics major. A friend with the same major, who ultimately went to Morgan Stanley, had mentioned to me that HR there most sought out that major when pursuing candidates at our school. You're certainly not going to be doing multivariable calculus or linear algebra in IB, but the ability to be good in it can help you get the offer in the first place; especially if you have the other softer skills as well.</p>
<p>hey nauru, can you give a description of the jobs you described? i'm curious. thanks.</p>
<p>If you are in markets and you are trading options, then multivariable calculus is definitely something you will use on a daily basis.</p>
<p>As for the jobs I described I don't have time to go into them here. I'll just give you an anecdote from a friend I'll call John who went to one of the aforementioned desks at a BB. So you know, he has a masters in econ from Cambridge/Oxford/LSE, won multiple international math awards, and had offers from all the top BBs as well as a couple of hedge funds:</p>
<p>John: So now that my first day on the (XYZ exotics) desk is done, it seems there's a ton I don't understand. Is there some book on advanced stochastic calculus or something that I could be reading in my spare time to get up to speed on the math used in this group?</p>
<p>VP: Book? (Blank stare) Book is a joke. There is no book for what we do.</p>
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hey nauru, can you give a description of the jobs you described?
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<p>Structuring</a>, Investment Banking Careers, BNP Paribas</p>
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As a Structurer, your role will involve both marketing trading ideas and pricing products internally and to clients. Structuring, pricing and analysing derivative products including swaps, options and exotics will play a large part in your role. You'll also be involved in developing and updating marketing materials
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<p>that link sorta explains the more quantitative areas of S&T. check it out. click on the links to the left and you can learn a bit about commodity structuring, fixed income structuring etc</p>
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Analyst
You'll need at least a Bachelor's degree (or equivalent) in a subject such as Maths, Finance, Physics, Quantitative Finance or Statistics.
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<p>thanks for that link. :)
that quote was also funny.</p>