Looking to major in some type of quant Math program, help?

College Majors
1

<p>I love math and statistics (especially math), they are the only school subjects that I actually have a strong passion for. Taking Calc III as a senior in high school through U of I, and I honestly enjoy every bit of it, I bought Mathematica at home so as to further my understanding when class time isn't enough. </p>

<p>From my research, the majors I think I would be interested in are:</p>

<p>Actuarial Sciences
Financial Engineering
Operations Research</p>

<p>or some other math finance program(what are my other options??). To be honest, I'm not completely aware of the differences between ME and OR, and I've heard of financial mathematics? Or are these ALL financial mathematics?</p>

<p>My problem is picking between them, and choosing a college accordingly. I've had plans of going to U of I urbana champaign or Wisconsin-Madison for a while for actuarial sciences, (Illinois resident), but my recent research into financial engineering and operations research seems slightly more appealing to me. </p>

<p>Ultimatly, I'd love to be working as someone who uses advanced mathematics and statistics topics to model financial situations/ predict outcomes and stuff like that. I don't really have any history with programming (never took a comp. sci course), but I'm very comfortable with computers and have slight knowledge on the topic from Mathematica. </p>

<p>I've taken Accounting I and II in high school and excelled (obv way easier than college accounting), as well as the required business courses, but besides that I'm actually not that comfortable with consumer economics and the business world, is that something I should be able to pick up relatively quickly in college?</p>

<p>Just as some more insight as to the type of person I am, I LOVE the idea of investing and managing my risk to have my money work for me. I'm also a big internet poker player.</p>

<p>I'd REALLY appreciate any help in deciding what my best major (and career path?) would be. My uncle knows some big actuaries in Chicago that I'm planning on meeting with, so that's a start, but I'm not sure how much insight they'll have into the other programs I've mentioned. </p>

<p>Thanks ahead of time,</p>

<p>Joe</p>

2

<p>Sorry for the double post, did a little more research. Is it best to study Actuarial Science/Mathematics/Statistics and then go to graduate school for Financial Engineering or Operations Research?</p>

3

<p>Study mathematics and computer science at the undergraduate level and then try to get into a program for Financial Engineering at the graduate level.</p>

<p>Actuarial Science probably won’t help you be a quant in the finance field. Actuaries mainly work in the insurance and pension fields. </p>

<p>If you want to get a MS in Operations Research, study math or statistics at the undergrad level. Operations Research is also called Industrial Engineering and deals with optimization and design problems for business. For example, designing optimal delivery routes for UPS, and similar problems like that.</p>

4

<p>Thanks for the input. Which do you think is a better career path? Actuary or wherever FE/OR/IE takes me?</p>

5

<p>Basically I don’t want to major in something that’s going to close the doors for me in either direction. Could I major in actuarial sciences and minor in mathematics to leave the door open for FE?</p>

<p>Should I consider industrial engineering? etc etc. Sorry I have so many questions :confused: any input is appreciated</p>

6

<p>In general, the broader your major the less doors that are closed for you. In reality, majoring in Actuarial Science is a very narrow major. </p>

<p>If you want to cover all of your basis, you should major in Mathematics. A BS in Mathematics will not close the door on any opportunity in the fields you are looking for. </p>

<p>The Actuarial Science degree will prepare you best for the Actuary exams, which are all that really matter in the Actuary field. However, a specific BS in Actuary Science is not needed to become an actuary. Just a degree (in any field, really) and passing the tests. Of course, I don’t see how somebody could pass the first 4 actuary exams without some kind of formal upper level mathematics courses. They are very difficult tests. You have to know probability, financial mathematics, and economics in order to pass…and you need to know them on a very high level.</p>

7

<p>Also, another piece of advice. You are only in high school, so you have plenty of time to find out your direction. It seems you definitely want to get a degree in a quantitative field. There’s no need at this time to narrow it down to a specific tract. </p>

<p>Use this time in high school to concentrating on perfecting your Calculus and other math skills. If you transition into college with excellent Algebra, Trig and Calculus skills, then your life will be much easier when you start studying mathematics on the college level.</p>

<p>Also, if your high school lets you use a graphing calculator for your classes, you may want to learn how to do the problems without it. Many college level math classes ban graphing calculators.</p>

8

<p>I think your best best is to double major in economics and math. The two majors complement each other pretty well.</p>

<p>If you want a career creating economic/financial models, you’ll need at least a masters degree, and probably a PhD.</p>

<p>If you want to get into some econ PhD programs know that math >>>>>>>econ, finance or anything else.</p>

9

<p>What’s the difference between majoring in Econ v Finance along with Mathematics?</p>