Looking for some advice

[eldr]

Hi all,

I'm a 2nd year undergrad student taking a CS degree and I've got a few questions.

I'm trying to decide between doing a CS co-op or going for a math minor. I would do both, but I've already switched majors once and I don't think it'll be possible.

I am already in an entry level position in retail banking at a big 4 bank in Canada so if I took the co-op Im confident I would be able to get a placement there.

First question is where I should place my focus if I do the math minor. I'm planning on taking mathematical finance, calculus, advanced stats, but I just want to know where it would be best to focus my efforts. Eg. Stochastic calculus, PDEs etc.

The second question is basically what is worth more the practical experience of a CS co-op at a bank or getting the math minor?

 

[qdogg]

This doesn't add up-- how would you be "entry level at a bank" as just a 2nd year undergrad, and how could it be possible to take stocal and PDEs (very advanced undergraduate math) as just part of a minor?

 

[eldr]

Alright to clarify a little. There is no degree required to work in the starting positions of retail banking (eg. Financial service rep etc.) so I'm doing it part time while I'm at school.

As for the math. In my CS degree we already do a decent amount of math calculus I and II, linear algebra, logic and some stats. There is also no restriction of any of these advanced math classes to just math majors.

My CS degree also requires you to have a minor in another field. So there are enough electives that it's possible (maybe requiring a few extra courses) for me to get to take at least 1 or 2 advanced undergrad math courses.

If the co-op wasn't worth it, its possible for me to switched to a combined math and CS major. But I can fit almost all of the same courses into taking my minor.

 

[qdogg]

OK, and what's the goal?

 

[eldr]

I've always wanted to work as a trader. I like the idea of research and development of trading systems/algorithms. Right now I've been looking at IT jobs, but I don't find them incredibly thrilling. Risk management probably falls somewhere in between my first choice and an IT job.

Ultimately I want something that intersects my love for finance and my enjoyment of computer science/math problem solving.

 

[qdogg]

OK... so what would a "computer science co-op at a bank" consist of-- what would the job be?

 

[eldr]

The only ones available right now where I work are IT business analyst, software development, or IT infrastructure roles.

That may change when I get to my co-op term, but I'm not sure at the moment.

Some of the smaller banks are offering co-ops in algorithm development so I could try to do one of those.

I think you're kind of helping me answer my own question...

Do you think that traditional "quant" co-op>bonus math courses>IT co-op?

 

[qdogg]

I would say a co-op of any kind and being able to say that you have work experience would probably set you apart much more as a young guy than taking two extra classes would... but being an infrastructure guy or business analyst would do much less for you than software development or (much better yet) algorithm development would-- I wouldn't hesitate to work for a smaller bank if it would mean doing more interesting and (more marketable) work

As far as PDE /tocal goes, if your interests aren't specifically in derivatives modeling and are more along the lines of just generalist trading, I would say your time would better be spent building your own trading strategies and studying brainteaser books to prepare for eventual trading interviews instead of taking two extra math courses when you're already taking a fair amount of math... Others may disagree, but this would be my advice.

Good luck!

 

[eldr]

Thanks for the input!

I think my plan right now is to try and define my interests a bit more than just trading. The only way I can do that is by researching all of the different areas. If I find that derivatives modelling is where I want to be then I can look at the more advanced math classes.

But for now I'm going to stick with the co-op route. I'll have to ask around my work to see if they offer any co-op's that are more on the algo development side of things, but if not I now know there are others that do.

 

[liuming]

hello kid, let me tell you something as we both from canada....
there is no way you can work as trader by cs or math undergrad....it is either top biz school undergrad with decent experience or a top mba degree( Ivey Rotman Queens)

I always heard a lot undergrad talking about how much they want to be a trader/investment banker, but please be realistic there is quite few those kind of jobs out there in canada, and there is no way you can to go to us to be a trader/investment banker(you know how competitive it is in NY? I did one term coop there, you are competing with all top schools mit, nyu, columbia....)

I am not saying it is 100% unreal, having a dream is always good and work hard for it. But there's a lot of good ways ahead of you, you can always consider more career path. My suggestion is as you are in cs, doing a minor in math/stat is definitely helpful, cs area like big data and machine learning are boosting in nowdays, keep your gpa up and apply a good cs master or mfe master in us, you will find a lot wider choices.

 

[eldr]

I appreciate the advice.

My dream was always to be a trader, and I was originally planning on doing the whole business school MBA route. But that's not my sole goal anymore.

The reason I'm in computer science to begin with is because I am looking at all of my options.