ambitious college student needs advise!!!

[Jia]

Hello, everyone. This is my first time to be here. And let me go straight to the point.
I am currently a senior in high school and heading to college in fall. The college I am going to is Uconn(University of Connecticut) and now I claimed my major as Finance. And as my interest in Mathematical Finance accumulated in recent years, I have decided to be "quant" in the future. And from my shallow knowledge, it requires tons of math and programming instead of the old tradition Finance knowledge. So my question is that what major will benefit me the most after I finish undergrad and will best prepare me for the Mathematical graduate program. Thank you for your advise!!!!!!
ps: i am VERY good at math...so don't worry about that...i would say i am a typical geek.

 

[Lyosha]

It's not about the major it's about the classes you take. Get minors in computer science and math. Be sure to take classes which deal with C++, data structures and design patterns. That'll get you the programming you need. As far as math goes, you'll want to take at least all of the calculus offered at UConn as well as linear algebra, analytical probability, differential equations and if offered stochastic calculus. On top of that, it wouldn't hurt to take a "math of finance" class closer to the end of your term at UConn to tie the information together.

Then again, this is an "optimal" path. Very few MFE applicants actually take all of this, and everyone has holes on their resume. It's just a matter of how well you can make up the ground you lost.

 

[Jia]

It's not about the major it's about the classes you take. Get minors in computer science and math. Be sure to take classes which deal with C++, data structures and design patterns. That'll get you the programming you need. As far as math goes, you'll want to take at least all of the calculus offered at UConn as well as linear algebra, analytical probability, differential equations and if offered stochastic calculus. On top of that, it wouldn't hurt to take a "math of finance" class closer to the end of your term at UConn to tie the information together.

Then again, this is an "optimal" path. Very few MFE applicants actually take all of this, and everyone has holes on their resume. It's just a matter of how well you can make up the ground you lost.

But would it better if I major in math or computer science and minor in finance since MFE requires intense math?

 

[Lyosha]

It doesn't matter what you major in, it matters what courses you take. You could be a Biology major for all anyone cares (I was...).

Taking a minor is just typically a requirement for being able to register for more "advanced" courses, at least that's the way it was in my undergraduate institution. It's also some kind of formal "checkmark" as far as aptitude, when people look at your resume. So you are likely going to have to have a couple of minors on your transcript if you want "ideal" preparation for an MFE.

That having been said, as I mentioned, there are very few applicants who are "ideally" prepared for an MFE upon inception.

 

[vincegata]

If I could do it all over again I would major in Applied Math or Statistics, and minor in Finance and Computer Science. Math is mostly what you need for FinEng program and it's the most challenging part. Someone might argue that Computer Science is the most important, which is true for some of the job positions. Majoring in Applied Math or Statistics would probably still require taking some extra math classes to satisfies the prerequisites for a Fin Eng program.

Visit the websites of Berkeley and Stanford, their programs have the most detailed descriptions of prerequisite courses. Stanford prerequisites are the most rigorous of all the better programs in the US, if you have all those courses you'll be good to go.

 

[Jia]

If I could do it all over again I would major in Applied Math or Statistics, and minor in Finance and Computer Science. Math is mostly what you need for FinEng program and it's the most challenging part. Someone might argue that Computer Science is the most important, which is true for some of the job positions. Majoring in Applied Math or Statistics would probably still require taking some extra math classes to satisfies the prerequisites for a Fin Eng program.

Visit the websites of Berkeley and Stanford, their programs have the most detailed descriptions of prerequisite courses. Stanford prerequisites are the most rigorous of all the better programs in the US, if you have all those courses you'll be good to go.

yep, I can still change any major at this moment. thank you for your time. I will go check their websites.

 

[Connor]

Your major may not matter for MFE admissions because the ad board will actually look at what courses you have taken, but for a job application your major could matter.

If you don't want to double major then I would recommend majoring in Computer Science (assuming you enjoy it to some degree) and minoring in math/statistics and finance (third minor in economics could be interesting).

Since you proclaim yourself ambitious, I'll recommend you double/triple major in Computer Science and Math/Statistics (third major in finance) with minors in economics and physics. All of this is pretty overboard but covers alot of material!

Don't forget the importance of building relationships with professors for future letters of recommendation and internships. At a minimal I would recommend trying to do 2 internships: a finance internship (investment bank, hedge fund, etc) and a programming internship.