Is it true that math and physics majors get all the good finance jobs?
Is it true that math and physics majors get all the good finance jobs?
Robert Ramirez
Andrew Russell
Like what does physics have to do with finance, why dont we get the finance jobs
Jordan Barnes
Because having a finance degree doesn't actually teach you that much.
Math and physics 1) are fucking hard, which tells recruiters that not only are you not a tard, but you're willing to work like a dog, and 2) give you the skills necessary to model real world events. If you're good with math and can write an algorithm that consistently outperforms the stock market, you're going to make a large amount of money in a very short amount of time.
I like to joke with people that getting a degree in finance is basically like getting a degree in networking. Your most valuable asset when you complete your degree isn't the shit you learned in class (which anyone with half a brain can learn pretty shortly); it's the fact that you rubbed elbows with dozens of rich alumni at bulge bracket investment banks, hedge funds, and other more-money-than-god institutions.
Source: am a finance major in my junior year at a top 5 university
Nathaniel White
Because anything that happens and can be charted can ultimately be reduced to a physics analogy. And whether it's Boyle's Law, 2nd Thermo Law, or just something as simple as sigmoidal phenomenon physicists have already done it hundreds of times.
We dissect shit, break it down into components, categorize, and then re-assemble into an hypothesis that can be tested.
How can entitled shitheads doing keg stands even compete?
Eli Gonzalez
Retarded. I don't know where you study but my finance major wasn't so easy. Ok, not comparable with physics and maths but still pretty intense. Portfolio management, statics, financial mathematics, financial modelling including montecarlo simulations etc.
To reply to OP answer. It depends on the job. Finance is very broud.
- accountancy job: accountancy and finance majors obviously prefered
- corporate finance in a FTSE250: finance majors obviously prefered
- investment banking division: finance major prefered
- trading / asset management / portfolio management: here there are more complex statistics, in order to optimize portflolio and regressions etc. So math snd physics people are considered in here too. But it's not so easy still they need knowledge of the capital markets, how economies fluctuate and know the financial terms (obviously 100x better than people here on biz). On the other side finance majors have to show the recruiter that they are good in analytical stuff. Each has pros and cons
The only department in a bank in which they almost only hire math and physics people is the Risk Department where they deal with very complex stuff.
t. Graduated last year in finance. Have done 2 internships in M&A in two of the biggest and most important investment banks and will join one of them in June.
Aiden Scott
Everything this user says is right on the money. I actually happened to overhear the conversation of a couple market makers when I was recently visiting NYC. They joked about how the best way to work in finance is not to get a finance degree.
Source:
Was a finance major at a not-top-5 university.
:'(
Christopher Wood
>still pretty intense
>Portfolio management, statics, financial mathematics, financial modelling including montecarlo simulations etc.
That's literally all middle-school math with a sprinkling of absolute-beginner statistics, except for the montecarlo which has some freshman level calculus. You're either lying to yourself or dumb enough to think that stuff is actually difficult. You've probably never written a proof in your life.
Yes I'm salty as fuck, I wanted to work in modeling and all my advisors and profs insisted finance was the way to go. Shoulda studied math, doing it on my own now.
OP Literally the entire standard finance curriculum is available on investopedia, it's just not organized very well.
Colton Martin
Thats why I said it's not comparable to maths nor physics, but still it ain't easy.
>Yes I'm salty as fuck, I wanted to work in modeling
I guess you refer to modeling as asset pricing? Well maths helps, but I know people from my promotion who will start working on a trading or sales desk at banks like GS, JPM, BAML, Citi
Honestly tho idk what exactly you mean with modelling. If you refer to m&a modelling stuff then finance > maths. bc in order to do a valuation you need to analyse the annual report and balance sheet, p&l, cfs of the company so it's more about finance knowledge than maths bc maths in there are the same as in highschool.
Jack Cook
You're an idiot
Source MIT Sloan MBA graduate
Joshua Jones
Why the fuck would you want to work in modeling? That's what my firm has 22 year kids straight out of undergrad doing. It's literally the "foot in the door" job to get started at the firm if you don't know anybody here or have an impressive resume. I think the highest paid kid in our modeling group makes about$50,000. Aim higher with your goals kid.
Joshua Bailey
As a college freshman, if I want to work in IB, is it relevant enough that I get a summer '17 internship at an accounting/auditing firm?
Bentley Cruz
1) Finance is not hard and definitely doesnt provide you with any kind of moat against other candidates. Nothing you learn in undergrad is impressive.
2) Math and physics is hard.
3) Networking is infinitely more important than your degree.
These are the gist of my argument, and they are also indisputable truths. You're not going to persuade me that what I see with my own eyeballs and hear from my own industry contacts is actually false.
Additionally, it's amazing how many MIT/Ivy League/etc. grads seem to spend their time on Veeky Forums.
Nathan Perry
Look everyone, a retard.
No. Depending on your institution, a Finance qualification will expose you to specific econometric methods used in finance, and regulatory issues and knowledge that no professional institution wants to bother teaching.
If you learn at a place accredited by some big investment institute then that will look well in your favour, and you can make connections relating to both the academia and industry of whatever it is you want to do.
Corporate Finance or economics, and banking, are both good degrees to have.
Caleb Sullivan
Is Finance Major a thing?
Ethan Martinez
reminder. your degree means shit. you need to suck as many dicks as you can, and lick as many boots with hope someone will give you a job. if you are an autist, better kill yourself already.
Bentley Barnes
Because math majors are smart
Jonathan Ward
That's what I'm getting from this thread
Matthew Rodriguez
Yes, because math and physics majors know how to do complex calculations and modeling. They just need to learn the financial concepts. Quants are almost always math/physics people.
t. Physics major quant
Gavin Mitchell
I have a teller job and have been hitting 400 percent of my quarterly sales goals every month like clockwork. I have a fantastic reputation with the company I work for and have been working there for 5 months now. I joke with my boss, have gone out to lunch with our investment banking partner, and am generally good at networking. Realistically, if I get the right degrees. How long would it take me to move into the investment banking field?
Jayden Jenkins
Not all the finance jobs are about quants. Risk / Quants is just one of the various department banks and other finance companies have.
Tbh to get into an IB internship as your first internship is very difficult. You have to come frm a top uni, have outstanding academic results and / or networking. I personally did a prior internship at a Big4 company, in the transaction or deals advisory teams not audit. And I know a lot of people who follow this route. So obviously aim for IB bc you'll learn a lot from the recruitment process, but have plan b at big 4 and other finance companies. And then apply the next year to IB.
Isaac Flores
No.
If you're in either of those majors you don't have sufficient course work to qualify for a CPA/CFA/etc and are not well prepared for the GMAT
Higher education + professional certs trump any kind of undergrad degree
Carson Bell
finance major here (with bulge-bracket experience), just lost an investment banking internship to a biology major
Dylan Young
Never implied that. I only said that the quant jobs are mostly math/physics people.
Wut? Anyone with a math/physics degree will breeze through GMAT. And those math/physics people will go on to do CFA or the like if they want to seriously work in finance.
David Edwards
Poor social skills?
Story?
Jackson Hernandez
Depends if your talking sales or not.
>Math majors will get the quant work calculating numbers and trends
>Econ will get some analysis jobs
>Business majors get the coffee
>Finance will be the sales assuming the can sell, or else they are getting coffee.
Ofc all of this is moot if you just got hired because nepotism.
Josiah Mitchell
I'd also like to know.
Michael Butler
My math teacher is a physics major and I'm a biz one.
So in short no. Most majors are too nerdy to be in finance
Nathaniel Anderson
*Most math majors
Wyatt Young
Literally my plan lol
Doesn't help that only accounting firms hire at my uni. God I hate myself for not being an overachiever in high school