“Finance, Accounting and Management” vs “Financial Mathematics”?

[PLUS]

Hello everybody.
I am first time on this forum, and it looks like a lot of skilled people here. I would like to ask a question, and I hope someone can give me a good advice.
What will be the difference in my future career if I choose between these two BA programs – “Finance, Accounting and Management” and “Financial Mathematics”? I would like to study Finance and be professional in this field. These both programs cover Finance. Of course I know that Financial Mathematics has more mathematics (I like it), but other one cover more theory. After which one I will be more professional in Finance sector? Could you please explain what king of opportunities I will have after completing each of them? What kind of difference will be in future career? And what kind of job will I actually do after each of them? Here is the links on both this programs including modules, what exactly they teach.
Finance, Accounting and Menegemen modules:
http://www.nottingham.ac.uk/ugstudy/modules.php?code=010698&mod_year=1
Financial Mathematics modules:
http://www.nottingham.ac.uk/ugstudy/modules.php?code=021636&mod_year=1
I hope someone can give me a good advice.
Thank you very much.

 

[DominiConnor]

I am not great fan of doing financial maths at undergrad level, and not accounting either.

If you like maths, do maths.

 

[PLUS]

I am not great fan of doing financial maths at undergrad level, and not accounting either.

If you like maths, do maths.

Could you please explain why math on the undergraduate level is bad idea?
But what is better for Financial career?

 

[Yike Lu]

I'm not Dominic, but from observing his MO, I can take a stab at this.

He believes it is bad to do FINANCIAL Math and/or accounting at undergrad probably because these are both too soft/specialized early on. For quant, it's better to get real hardcore scientific/mathematical training i.e. math/physics/engineering degree and THEN specialize (whether through MFE or through finance electives appended in your free time). Although as I understand it, UK students don't take courses outside their majors...

 

[Connor]

Finance and accounting would probably prepare you more for a corporate finance or accounting job, while the financial math would prepare you for more investment/risk management, basically more math-based finance stuff.

I agree that if quant finance is your goal then studying math instead of financial math at the undergrad level would be a better option. And even if you did just math and decided it wasn't for you, you could then just get MBA or masters in finance/accounting and do something else.

Financial math at the undergrad level is very specific and therefore doesn't prepare you for other opportunities that may arise in other quant fields. Plus it sometimes doesn't offer a broad or deep enough math education.

Have you considered the Mathematics and Computer Science BSc? That would be one of the better preparations for quant finance and also opens many other opportunities for you in terms of future jobs. Mathematics and Computer Science

To get a general idea:
Finance Jobs Guide from Careers-in-Finance.Com
Accounting Jobs from Careers-in-Accounting.com

 

[FedericoM]

I'm very interested in this discussion and I ask here for an advice.
I chosed a Mathematical Engineering Bachelor (Maths till PDE and Calculus III, as well, as Electronic and Computer Science I), so I will be exposed to Finance only in my 3rd year of study, with the "Financial Mathematic I". (so, not advanced level).

However, I would really like to pursue a career in IB sice I'd like to provide financial support to companies and istitutions.
Do you think my quantitative background will be a plus applying for a job like that one of Financial Analysts? Do instead Investment Bankings prefer to hire people with degree in Economics or MBA?

Thank you.

 

[DominiConnor]

Yike Lu is right, my view is that at least as far as your first degree you should be in education. At some point you may get training which is more specific to how you earn your living. Some people do education to PhD, some stop at a first degree.
Individual topics may in fact be identical, but the goal and structure is different.

Maths is education, financial maths is more like training.


Also yes, UK students at good universities do not do much outside their core, though there are composite degrees like mine that are maths/computing. We certainly don't have the dimwit idea of making science undergrads waste their time on fluffy subjects.
There are silly degrees in Britain like anywhere else, like forensics or criminology or genetic engineering, which owe their existence to popular TV programs rather than an academic discipline or even a plausible career structure.

Some good schools like the LSE do accounting as part of an undergrad curriculum, which in my view is a bit of a waste, partly because it does not of itself qualify you as an accountant.

So that's why I make the sweeping statement that independent of where you study, it should be academic at undergrad level, not training. There is a negative correlation between perceived quality of school and 'training' at undergrad level.

I believe that's the opinion of the majority of hiring managers at firms of most kinds you want to work for.

That's not to say you could not optimise an undergrad degree to be preparation for training in finance, would not be hard, just choosing the right options. My old school used to allow you to take any course at all that you had the pre-requisites for. I used it to do more logic than was good for me, and avoid stats, and yes I know now which would have made me more money. That's part of the danger, since as I say elsewhere, students by necessity aren't in an ideal place to work out what they need to know, because they don't know it.
That leads to some entertaining phone calls from me of the form "I hear you're studying the formation of galaxies, bank really like people like that", which sometime requires me to talk well

 

[PLUS]

Thank you very much for useful information. It was very intresting to read it. I just didn't get one thing.
Which course from these two will put me on higher position after graduation and make me better professional in the fiel of Finance: Finance, Accounting and Management, where is more theory, or Financial Mathematics where is more mathematics ?
Which diploma qualify better in this field?
Which road can make me to became better professional and give me better understanding in Financial Market?

Thank you, again.

 

[Connor]

Thank you very much for useful information. It was very intresting to read it. I just didn't get one thing.
Which course from these two will put me on higher position after graduation and make me better professional in the fiel of Finance: Finance, Accounting and Management, where is more theory, or Financial Mathematics where is more mathematics ?
Which diploma qualify better in this field?
Which road can make me to became better professional and give me better understanding in Financial Market?

Thank you, again.

What exactly do you want to do?

 

[Yike Lu]

In case Dominic wasn't clear enough...

If you want to do non-quant finance, Finance/Acctng etc... would be ok.

For quant finance, you should do neither.

 

[PLUS]

What exactly do you want to do?

Financial Market. Stock market. Traiding.

 

[PLUS]

In case Dominic wasn't clear enough...

If you want to do non-quant finance, Finance/Acctng etc... would be ok.

For quant finance, you should do neither.

If neather, for for this Financial Mathematics need?
What exactly cover quant finanace? Where I can read more about it?
Please give me moe information.

 

[Connor]

If neather, for for this Financial Mathematics need?
What exactly cover quant finanace? Where I can read more about it?
Please give me moe information.

The power of the Internet:
Quantitative analyst - Wikipedia, the free encyclopedia
Mathematical finance - Wikipedia, the free encyclopedia

Financial Market. Stock market. Traiding.

These don't require the heavy math/computer skills that quant finance does (though it wouldn't hurt).

Looking at the Finance/Accounting option, it gives you a wide background in a number of areas while the Fin Math feels more focused to me.

Go with Fin Math and get a few internships over the summer in investment management and investment banking.

 

[PLUS]

Thank you very much.