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Help choosing major. High School senior interested in Quantitative Finance

Joined
12/15/11
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I am currently a high school senior who plans of going into the quantitative finance field.I have extreme entrepreneur skills and currently run my own business which produces custom made golf putters of which i ship all over the states.I am heavily interested in economics as well as more advanced form of math therefore I am planning to try to become a quant. I am attending University of Illinois next year and would like to get some opinion on possible education path. Right now i plan on getting a degree in mathematics then either a Masters in Financial Engineering or a PHD in a similar field. I would like to be well rounded in computer science, math, and economics after schooling. What undergraduate degree would you suggest for going into this field? and also what PHD studies would be ideal for this field. I would like your opinion on what the ideal schooling for someone going into this field would be as i am determined in going into this field as it is my passion.
 
I have extreme entrepreneur skills and currently run my own business which produces custom made golf putters of which i ship all over the states.
Is this a profitable business? Are you passionate about it? If so, why not trying to expand them and do it full-time instead of going for more schooling and then work for someone else?
 
It is somewhat profitable. Each putter is made for under $50 and i sell them for a base price of $500. Profit annually is around $25,000. But because of the manufacturing process i use which makes my putters unique it is some what time intensive and i do not feel as if i could expand this to my desired income level as production time is not super effective. Each putter takes arounnd 8 hours to make. It is not my passion it is done solely because i enjoy business practices and that type of enviorment. I do want to get an education regardless of the business.
 
Anybody have an opinion on what the ideal degree would be? I am thinking possibly double major computer science and math.
 
It says on your avatar that you're new round here, so I'll share my standard advice for choosing subjects.

What do you enjoy doing ?
What are you better at than most other people ?
What seems to offer the best income ?

That ordering is not coincidental and the terms are related; it is really very hard to make real money or to excel in an area you don't enjoy.
Being better is of course important and given your age I suspect you don't know this with enough precision.

The minimum education you need for this line of work won't allow you to be in a job much before 2016 and can easily be 2019/2020

I haven't a clue what the job market will be like then and of course the time you're interested in runs from 2020 to 2050 which puts it beyond the bulk of the SciFi you will find in your local bookshop.

We can assume change and the best way of navigating that is by good deep education in something your have a talent for.

As it happens I did Maths/CompSci as well, but I made that choice before you were born (sigh) things have changed a lot since then and the supply / demand terms have changed big time.
 
Most of all i enjoy making money in any form possible but study wise I love all types of mathematics especially when it is applied to what I find most interesting, economics. I have excelled at calculus and trigonometry so far in my schooling. I took a C++ class last year and found programming to be challenging and definitely enjoyed the work we did in there even though the programs were written for applications i did not find extremely interesting. As for what I am better at than most people, I would say this have to be a natural instinct to make money. I have bought and sold on ebay since 4th grade and made several thousand dollars from doing this on the side without thinking anything about it.I also do understand that I will not be in the job market until at least 2020 but am willing to do so as i have a desire to learn and expand my knowledge. I have read that most quants do not have good communication skills and have trouble working with others. Communication is one of my strongest attributes.
 
I don't see why he can't be an entrepreneur while simultaneously studying something meaningful and interesting to him. Do I need to produce a list of people who started successful companies in college? Also, it's not as though maths and programming are niche skill-sets, applicable only to finance. I mean, gosh! He could write an algorithm that forecasts whether or not a particular putter model might be successful in a particular market and sell it to Titleist. Go for math/comp science or something similar and apply it in whatever capacity you wish.

That being said, I would be true to thine own self and make sure that you are genuinely interested in studying these topics before you waste your time and money.

It's funny, I used to play golf full time and am now completing a double major in stat/comp science... great minds! Many hours logged on golfwrx.
 
Thank you for your imput and yes i completely argree about choosing something that interests you before making a long term commitment. I believe that I can be an entrepreneur while in school to produce some income. Golfwrx is a great website to market yourself in the golf industry and I have learned so much stuff from others on there. If you are ever interested in a a putter check out my website www.claytonstokerdesign.com , It is still underconstruction but i should be finishing it up in the next couple of weeks.
 
I took a C++ class last year and found programming to be challenging and definitely enjoyed the work we did in there even though the programs were written for applications i did not find extremely interesting.
That's a cause for concern. You took C++ in high school and found it challenging? If you don't find those interesting, I'm afraid you may not find what you will be doing in finance a whole lot more interesting. Despite how glorified some people may image it to be, the majority of work will be dirty/boring/mindnumbing but they are essential things to get the job done. You probably won't be doing a lot of high level math at work.

So I would say go for a computer science/engineering degree. You will be leaving with coding skills that can be applied to any field, be it back testing a trading model or optimizing your putter model.

I like that you are looking into this at a young age. You sound like a go-getter so just try your hands on some topics that challenge you (programming, you said?) and then find out from there.
 
Does anybody know any companies that are willing to take in a high school intern? I have emailed numerous companies and have not got a response. I know they are not common because a highschool intern does not have much knowledge of the business but I cant imagine there isn't at least a couple willing to host one. I would like to see what the industry is like to confirm from experience and that I want to make a commitment to go into this field.
 
I haven't been in college long and I got a position (not technically an internship, more just part-time position) with a company that almost exclusively looks at juniors and seniors to fill internships/part-time work. Just saying you might get lucky. Keep looking, but I'd say you probably won't have much of a chance until you are in college.
 
If a teenager took at C++ course and didn't say he found it "challenging" then I'd be worried, but Andy is right, there is a certain mindset for being excellent at programming part of which is doing stuff for it's own sake, a pattern that I believe carries across to excellence in almost any subject.

The big noises in entrepreneurial activity in the West are currently based on computers and thus programming, the question is can you get to a useful level before the tides turn and something else takes over ?
I'm an occasional IT journalist and for a couple of years in the 1990s we seriously wondered if IT was finished, in the sense that everyone had what they needed, it was complete and the future was just maintenance and that day will come, but as we all know, not then.

Math finance is different because the internships actually mean something as they do in medicine or law. In IT they often do not and instead typically centre around you being found something to do that can't cause too much harm and that's for people more experienced than you.
I think the sweet spot may be charities...
Even allowing for the size of its economy, the USA has a surprisingly large charitable sector whose use of IT varies from the excellent to the luddite. One piece of pro-bono work I did last year was advising a very well known charitable trust how to mine it's database to identify potential donors and various other tricks to improve their revenue.
They came to me talking of a system that was locked down and incomprehensible, I sat in front of the screen and made it dance because actually it was just standard Microsoft SQL Server

This charity has a substantial turnover and I learned things about their business including that they had very different views on optimising revenue...
They are great places to learn new business ideas and unlike a commercial business they have this contradiction that they want money but they don't focus on it like a business; meaning that there are often some excellent quick wins where you can add a lot of value without being an IT guru or spending two years on a project.
For instance most galleries, theatres and museums have no idea at all who is coming through their doors; since about one person in a thousand can today write a cheque for a million bucks if they really want to, it follows that serious donors have walked into your charity, liked it's work and left without any opportunity to help.
Charities have some serious experts on getting money out of people, learn from them and I will share that my various charitable activities have introduced me to some tier-1 name-droppingly famous people, some are also more wealthy than the bankers I work with.
One reason for that is that I (and I suspect you) are not like the standard person who wants to help a charity...
Many are "awareness raisers" a poisonous subset of any charitable activity who enjoy the glamorous bits of charities like producing media campaigns that say "AIDS is bad" rather than actually doing anything about it, others really want to do the thing the charity is for like personally helping people so that there is shortage of people to do not just IT but all the finance and admin activities and both factions try to avoid paying them properly with sometimes awful results.

You can learn a lot in that environment, make contacts and have some entries on your resume when you graduate that a rational Maths/CS grad (like I was) would kill for. "Identified major donors for a blind people's charity using SQL" looks just so much better than "spent six weeks at WalMart corporate HQ copying data from one format to another".
Be aware that a depressing % of all IT work is getting data between formats and places.

Also you get to do some good for the world, one trick that has served me well is not to care too much about which precise kind of "good" you do, charities have a lot of people who really really care about their thing, caring just enough to make you do a good job gives you the freedom to do it with excellence.
 
If a teenager took at C++ course and didn't say he found it "challenging" then I'd be worried, but Andy is right, there is a certain mindset for being excellent at programming part of which is doing stuff for it's own sake, a pattern that I believe carries across to excellence in almost any subject.
To be fair, the "C++ courses" we took in high school are bullocks.
e.g. pointers aren't covered

Edit: really
 
You can track back posts by euroazn who was a high school student recently and has been on the same path as you are now. He probably has asked many questions that you have on mind now.
http://www.quantnet.com/forum/threa...ld-i-persue-if-i-want-to-become-a-quant.4239/
Does anybody know any companies that are willing to take in a high school intern? I have emailed numerous companies and have not got a response. I know they are not common because a highschool intern does not have much knowledge of the business but I cant imagine there isn't at least a couple willing to host one. I would like to see what the industry is like to confirm from experience and that I want to make a commitment to go into this field.
Heya. You can PM me too if you want; I'm a freshman now at CMU, but high school is still fresh in my mind :)

My primary suggestion is to continue searching for internships but switch fields. Specifically, if you get a programming internship you can get valuable skills that you can later put on your resume - additionally, these types of internships are far more attainable if you actually know what you're talking about. I had two pretty sweet programming gigs back in high school.

The other option, which I also did in high school, is do work as an intern for a PWM (private wealth management) branch of a large bulge bracket. You will get no useful skills this way but at least the name sounds good; people who glance at my resume are always impressed I was able to land a position at Morgan Stanley as a high school senior ;)
 
Clayton, you might consider a major in finance or business administration/management while minoring in one of your strengths such as math or communications. Finance and business are popular majors that will give you a well rounded approach to your business goals as well as your career goals.
 
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