<p>I've heard the mathematics that you would learn as an undergraduate in EE is more applicable to a finance or financial engineering graduate degree than an undergrad in another engineering field. Is there any truth to that?</p>
<p>Further, would EE serve as a good background for pursuing financial engineering in graduate school? Comparable to math or economics? I'm not sure how much economics, math, etc is actually in finance. </p>
<p>Thanks.</p>
<p>I don't think so. EE's where I go to school take the same math courses as every other engineering major.</p>
<p>Are you looking to become a Quant? (Quantitative Analyst)?</p>
<p>Those positions usually require a PhD in Math/Physics but an EE can suffice as well. </p>
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Further, would EE serve as a good background for pursuing financial engineering in graduate school? Comparable to math or economics? I'm not sure how much economics, math, etc is actually in finance.
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<p>Quant requires extensive knowledge of probability, stochastic processes, calculus and other upper level maths. They are quite applicable to finance.</p>
<p>Look to Columbia, GA-Tech or Princeton for Master's in FE programs.</p>
<p>Yes there is truth. No other program bar CS and physics will you learn about signal processing, white noise, how to exploit GPU's for scientific computing, AI, random and stochastic processes, control theory etc. All these topics are very applicable to FE. Thing is, for you to get into the juicy part (enough deep knowledge about the subjects to make it useful enough) you would probably need a PhD. Anyone who did a PhD with research in these areas will generally have an advantage over anyone else.</p>
<p>CS learns about signal processing? Seriously?</p>
<p>I thought that was virtually 100% the domain of CPEs & EEs.</p>
<p>CS involves algorithms. Alot of signal processing, audio processing, image processing involves/ is about algorithms. When it comes to FE, the signal is already in a form understood by computers. It's usually not analog.</p>
<p>Most engineering disciplines will contribute towards finance, but I would suggest Industrial Engineering. It teaches a lot of mathematical models that are very useful in financial decision that other engineering majors may not focus on. Things like statistical analysis, optimization and simulations will go a long way for you, I think.</p>
<p>In addition to concurring with all the responses above, I will add to them. Yes, all engineering majors require both one and several variable calculus, but financial engineering programs also require optimization, numerical analysis, linear algebra and probability statistics for calculus. Your second best major will be industrial engineering and your best choice will be mathematics. However, pursuing any quantitative degree will augment your chances, as opposed to similar social science programs such as economics, finance, etc. Also, I read somewhere that investment banks and consulting firms love quantitative majors because of their thinking methods. A friend of mine acquired his P.h.D in physics, discovered he didn't want to teach forever, went on to do research in commodity pricing, currently working at Morgan Stanley and is now VERY successful, financially.</p>
<p>Thanks for all of the replies, everyone.</p>
<p>My primary major is EE, and that will most likely stay that way. My second major is economics, but I've waffled between economics and mathematics for a while. I have interest in both areas. If I do economics as a second major, but bolster my mathematics with some statistics and operations research courses, would that help? Or would it be substantially better to have my second major be math instead of economics?</p>
<p>Well, I'm not sure what hiring managers for quant jobs would be looking for? A PhD in EE (a math intensive area such as signal processing) versus one in mathematics/physics probably won't make a huge difference in your capabilities as applied to finance. The point being that unless they are specifically looking for math/physics majors, you should be able to convince them that you have the skills they need as an EE. Plus, as an engineer you are more apt to "application" and probably programming as well (bar certain physicists) which is a plus. And you can always add relevant mathematics courses to your curriculum.</p>
<p>I think that while mathematics is probably the best choice, the extra baggage that it comes with is probably not as useful as that of EE. Mathematics will generally train you for grad school and theory, except for programs that have concentrations towards finance.</p>
<p>I was in your shoes a few years ago. I double majored in Economics and Mathematics with a minor in Statistics. In the end, decide what you like to study as opposed to what every "joe bob" admissions officer recommends you to study.</p>
<p>Also, as you stated, "beef" up your math skills and take C, C++, Matlab, econometrics and stochastics courses.</p>
<p>I am a CS major and I really feel that CS is a really good match for going to grad school in FE. The related courses that are required in my school CS curriculum are Numerical Method, Linear Algebra, and Differential Equation. Simulation and Stochastic Process (stochastic calculus) are part of CS electives that I am planning to take. Also, I am taking electives in Financial Engineering and Optimization classes so I think I will have some taste of all the material. Also, if you are a CS major, programming (C++,C,Matlab) for FE will be very easy (comparing to what you have to do in CS classes). </p>
<p>Also, I feel that the math you will have to learn (Algorithm, Theory of Computation, Discrete Mathematics) can be very useful. I talked with Princeton FE grad program before, and they said that they prefer students from CS,ECE, and Math.</p>
<p>I get the feeling Industrial engineering is as applicable as Mechanical and Systems engineering.</p>