Finance or Econometrics Major (2 Viewers)

[Conspirocy]

basically i was at a careers day specifically for economics students at unsw

and good ole Mac Bank showed up

they basically said they only considered eco students for risk management positions. they said they wanted people with accounting or finance majors for their corporate finance division.

i thought that was a limited way to look at things, then again it wasnt the best presentation

i mean look at their careers page they value economics so highly they spell it "Econmics" - its been like that for god knows how long

personally, i thought their HR staff had a limited view based on what they presented.

Obviously this is just one firm. So i wouldnt rubish them all

 

[ND]

[

basically i was at a careers day specifically for economics students at unsw

and good ole Mac Bank showed up

they basically said they only considered eco students for risk management positions.

Not true; a friend of mine (actuarial) interned there last summer.

i dont think finance courses are a joke if you pick the right ones, i know at UNSW, about 2/3 of the electives are useless but there are about 4 or 5 that's quite good.

The thing is, if you're only doing a finance degree, you're not going to have the skills necessary to do real finance.

 

[huangker]

I don't even know why you're bothering with a law degree if you've got your heart set on banking so much.

When I talk to grads who work at banks and HR representatives, they mention they like Com/Law students

 

[Wolfowitz]

Gosh. You noobs suck.
So intelligent and yet you fail to realise how damaging a life in banking is. You're only crashing the best years of your life against those above you.
Live for yourself.

6 years in university (Comm/Law + honours, as was suggested) is a long time spent trying to appease inexperienced markers.

I suggest you disable your automaton coding and read some Xerces: your life is a tree which only grows, and is remembered, by the time you spend nurturing it.

Don't subscribe to the payroll, make your own money and walk your own path.

 

[§eraphim]

They recruit smart ppl. A lot happen to do Comm/Law. But all in all, it makes little difference what degree you are doing once you are going through the interviews.

 

[velox]

People don't realise that its more marks/personality than what degree. I know a guy who got in on mac bank with accounting/finance (3yr degree). It doesn't matter, so long as you are smart, interested, committed, and all that graduate attributes crap.

[

Not true; a friend of mine (actuarial) interned there last summer.



The thing is, if you're only doing a finance degree, you're not going to have the skills necessary to do real finance.

This isn't really true. I've met traders with pass degrees in finance and mathematical economics. (separate people with only 1 of the disciplines i mentioned)

 

[ND]

This isn't really true. I've met traders with pass degrees in finance and mathematical economics. (separate people with only 1 of the disciplines i mentioned)

I don't really see how that's relevant. I didn't say anything about whether or not you could become a trader with only a finance degree.

How is someone with only a finance degree going to be able to solve PDEs, SDEs, understand Ito processes etc.?

 

[velox]

I don't really see how that's relevant. I didn't say anything about whether or not you could become a trader with only a finance degree.

How is someone with only a finance degree going to be able to solve PDEs, SDEs, understand Ito processes etc.?

You dont need to solve pdes to trade =/ That's what structurers and quants are there for

What did you originally mean then?

Real finance isn't just straight maths. You cant model everything.

 

[§eraphim]

Yeah, the quants do the maths/programming. The structurers do a bit of everything. I think the GS's CRM team is more structuring than pure quant stuff.

Also, the level of math ability depends on what you are trading. In equities you don't need much but for exotics, fixed income, credit, etc you need good math ability. For the most part, being able to spot arb is probably the most important thing.

Velox, what degree r u doing?

 

[velox]

Yeah i didnt dispute that you dont need good maths ability, but there are quite a few traders without a maths/eng degree who trade more than equities.

 

[ND]

What did you originally mean then?

Real finance isn't just straight maths.

Well i meant exactly what i said; that without the technical skills (such as those that i mentioned), you can't understand 'real' finance. I guess my definition of 'real finance' is a bit limited.

You cant model everything.

You can, but that doesn't mean that the model is going to be completely reflective of reality.

 

[huangker]

The impression Im getting is that I should get a finance major because if the banks want quantative guys, they will stick with grads with maths, stats, engineering degrees etc. Also M&A is not very quantative and I won't need modelling etc to do it. The quantative modelling etc is utlized by traders etc.

Right?

 

[velox]

The impression Im getting is that I should get a finance major because if the banks want quantative guys, they will stick with grads with maths, stats, engineering degrees etc. Also M&A is not very quantative and I won't need modelling etc to do it. The quantative modelling etc is utlized by traders etc.

Right?

W(r)ong, Trading is about quick mental arithmetic also. Finance is ok for that.

 

[Omnidragon]

Gosh. You noobs suck.


Don't subscribe to the payroll, make your own money and walk your own path.

I said in another thread, the key is to inherit. Have fun making your own money, wolfiu..woltoz... er... yea