<p>I am going to be a student at the University of Michigan when i transfer next semester. I know for sure I like Economics and jobs such as Investment Banking, a Broker, and an Investment Mangager. Basically fields dealing with investing really fascinate me and I feel i could always enjoy my job in those fields. That being said I know Economics can help me with putting me out there for some or most of those jobs but i hear statistics or mathematics is a required degree for a lot of investing jobs??? I like math and numbers and would enjoy adding that as another major but which one would you think will give me the better reward????</p>
<p>So, mathematics or statistics? and why?</p>
<p>thank you for the advice in advance:)</p>
<p>Check the catalog at Michigan and see what the requirements and available electives are for the econ major. You’ll likely either be required to or have the opportunity to take courses like statistics, econometrics, etc. On the math side, there’s a good deal of calculus and differential equations involved in some forms of IB - things like Black-Scholes, etc. If you want to be a quant when you grow up, then definitely a combo of math and economics.</p>
<p>Mathematics > Statistics</p>
<p>lynxinsider is right, if you major in mathematics you are going down the path to becoming an actuary, quant, or trader. I’m not so sure mathematics is necessarily the best way to go for IB.</p>
<p>What majors would best lead me down the path of investment banking??? Economics and Statistics, Economics and mathematics, or some other combination??</p>
<p>I am also very interested in anything to do with investments such as a broker or investment manager. what majors would lead me down that path??</p>
<p>If you can’t get into ross, then econ and math would be the best combo for all the jobs you are listing.</p>
<p>Why not just major in math with an emphasis in statistics? Or do the statistics classes not count towards a math major?</p>
<p>Either way, a math major will be more flexible down the road, in my opinion.</p>
<p>I could get into Ross but the opportunity cost wouldnt be worth it in my opinion. I would go to school for 2 years more than if i just did Econ and Mathematics because of their transfer rules and admissions policies…</p>
<p>Accounting might be more useful for IB or investment management. That isn’t to say mathematics would be useful too, I actually think you’d probably have better options if you major in math/econ.</p>
<p>I actually started off with getting a BA degree with economics but the 2 years extra of school really factored into my decision to skip ross and maybe get my MBA later on in my life…</p>
<p>That’s a good idea… If you get a degree in math you’re probably setting up to be an actuary, quant, & trader. These are all high paying jobs a lot of people would consider desirable. If you want to get into IB or PWM or something else less quantitative, just getting a BA in Economics followed by an MBA is probably a good way to go… </p>
<p>(I should probably disclose you’re taking advice from a guy who’s failed at finding a finance related job for the past 18 months or so. Hey, maybe you can learn from my mistake.)</p>
<p>You need only introductory math courses to understand financial instruments in cash markets. You need intermediate math level (including probability theory and theory of statistics - usually offered to upper class, not intro courses) to understand instruments in derivatives markets. You’d better to take, at least, stochastic differential equations, discrete math and stochastic process in order to manage exotic instruments. Applied math with a concentration in statistics.</p>
<p>Is applied math the name of the degree or the kind of math you think would be best?</p>