BA in Math or BBA in Statistics and Quantitative Modeling?

[Ronald Litvak]

I'm interested in quant finance as a career choice but I'm not sure what's the best route to get there. I was originally thinking a BA in Math with an Econ minor but then I discovered my school offered a BBA in Stat and Quant Modelling. The program description reads:

The statistics and quantitative modeling major is designed to develop quantitative thinking skills that are invaluable in business. The student will take courses from a variety of quantitative disciplines that focus extensively on statistical methodology, mathematical modeling, and computer implementation issues applied to business. The use of the computer for the solution and analysis of business problems is an integral part of the program. Graduates of this program will have a broad foundation in statistics or quantitative modeling and will be well positioned for the analysis and solution of decision problems facing business and industry in the 21st century.

Is this a better base for a MS in Financial Math or Financial Engineering? High level math courses such as risk theory, fund. algorithms, intro to financial math, and stochastic processes are included.

 

[Jose T]

In my opinion, the BA in Math is superior preparation for grad school. You are better off getting a solid foundation in mathematics than studying all of these applied topics before you have such a foundation.

I think this BBA program is more advantageous for someone who wants to avoid grad school altogether, so would not see these topics if they did not see them in undergrad.

The chief difficulty I have seen MFE students having (myself included) is the high level of mathematics. It is possible to gain a familiarity with all of the statistical methods and computer implementation on the fly. It is much harder to replicate 'mathematical maturity'.

 

[bigbadwolf]

The chief difficulty I have seen MFE students having (myself included) is the high level of mathematics. It is possible to gain a familiarity with all of the statistical methods and computer implementation on the fly. It is much harder to replicate 'mathematical maturity'.

Agreed. The BBA is going to have to cut corners. If it doesn't even include a course in real analysis, how far and how carefully are people going to go in areas like stochastic processes, PDEs or numerical analysis? Crucial chunks will either be diluted and watered-down or simply omitted altogether.

 

[Ronald Litvak]

Great advice. Any thoughts on a minor or second major?

I'm thinking either a minor in Economics or Statistics and Quantitative Modeling. I'm guessing the latter is the logical choice. I'm considering a double minor, yet I'm not sure.

 

[Jose T]

In addition to Math major, I would guess the most beneficial thing would be CS or Electrical / Computer Engineering courses. Things that involve a lot of coding or advanced hardware knowledge.