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Major question

Jonathan B

Jonathan B

Joined
8/27/12
Messages
16
Points
13
Hello everyone,
I'm pretty new to this forum and over the past two years I've developed an interest in Financial Engineering as I enjoy Mathematics and the equity markets (in particular derivatives). I'm currently a sophomore in college and curious to what degree I should try to obtain in college for an Undergraduate that best fits financial engineering. I'm a Finance Major for now and thinking perhaps of switching to Applied Math or even double majoring. Do you guys think I should continue in just finance, switch to Applied Math, or double major?

Thanks in advance to all replies.
 
"I 8 Sum Pi" and it was delicious! Very clever.

There are a number of people on QuantNet who can probably give answers informed by more experience. My answer would be that the best degree would be a computer science degree with an applied math minor. Then get a masters degree quantitative finance.

I am a software engineer (in the University of Washington Computational Finance and Risk Management Master's program), so I have my biases. But from what I've been seeing, you need to be able to write software, either in C++, R, MatLab or something similar. The more software experience you have the better. Of course you should also have the applied math, especially statistics, background and the finance background. Which doesn't make this an easy field.
 
I graduated with a double major Finance & Real Estate, from an average state school. As I'm looking at FE as well, here's what I would suggest based on the reading I have done over the past ~9 months.

Do a major in Engineering or Applied Math (and keep a stellar GPA) if you want a shot at a top MFE. The poster above is correct too, in that, you need to be able to program as well. However, I feel you can learn the programming through experience and I don't think a CS major is necessary (albeit, it is helpful).

I know at my school, the Mech.Eng. kids would do some programming in MatLab and C++. So, if your school's track is similar - you could to Mech.Eng. Major and when you hit a some C++ or MatLab just learn as much as you can and practice in your spare time.

Long story short:
Do some kind of Eng. or Applied math. Either to programming as self study or CS minor/double major. Get a finance related internship.

**Note: I'm not in an MFE, I'm doing an MBA at the moment. This suggestion is based on reading I have done since I've been looking into it myself. Use the Tracker on QN! It will show you a lot of information.
 
I know at my school, the Mech.Eng. kids would do some programming in MatLab and C++. So, if your school's track is similar - you could to Mech.Eng.
Click to expand...

I actually disagree with doing Engineering degree (not sure about comp. eng.), especially when you know you'd like to do FE. o_O I'm saying this because I studied Mech. Eng. in mechatronics stream and worked as a design engineer for 3 years.
Engineering degree will prepare you to be an engineer with fully packed course load that I find pretty hard to relate to FE. If you're non-engineering, you'll have little more room to choose the courses that can really help you.

In my perspective, the best preparation for FE would be CS + Math(practical upper year courses that teach you software mentioned everywhere on QN). But please keep in mind that It is more important to maintain your GPA comparable to successful applicants on the QN Tracker than trying to learn everything and lower your GPA.
 
Thank you all for the responses,

I've been advised by my former college algebra teacher (also a former Goldman Sachs programmer several years back) to learn Computer Science out of the classroom and on my own, which I have been doing and got down a bit of C++ (currently writing/ learning code besides being on here).

Going the route of engineering doesn't seem to make sense for my situation. The degree would be far too off from my focus and in result possibly not perform as well due to that.

From what you guys are saying, I should switch out of Finance perhaps and just major in Applied Math, and I'm thinking a potential minor in Finance? After looking at the GPAs of those accepted into programs, I'm not too concerned at the moment with that.

The schools I'm potentially looking at for my MFE or equivilant programs:
1)Columbia
2)NYU poly
3)Baruch
4)UCONN
5)Stevens Institute of Technology
 
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