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Need guidance

Joined
11/9/09
Messages
3
Points
11
Hi I've come to vent, but hopefully gain some insight from older veterans who have "been there, done that."

As of January next year I'll be starting the last semester of my degree, Bachelor of Commerce majoring in economics and finance. I'm from Australia, not sure if any of you are familiar with our grading system but right now my GPA is about 5.2, out of a possible 7. Not sure what the average is. 5.2 would certainly be above the average but I wouldn't be impressing anyone with that score either.

Anyway I've come to realise that there is almost nothing that sets me apart from other graduates, and I'm unsure of my job prospects next year.

My degree seems to have used almost no technical skills other than algebra necessary for basic calculus, and the basic calculus itself. We've had one class for the entire degree, and if you major in economics you also have to study econometrics. I feel woefully unqualified in this aspect, almost as if I missed a turn somewhere along the way. Basically, it feels as if 95% of my degree has been conceptual and you really just apply the facts of a particular theorem or whatever to a question. I don't see how that is going to be useful in the finance/economics industry. Employers want people who can crunch numbers don't they, not someone who can spout the assumptions of Taylor's theorem without a real understanding.

So I'm debating on whether or not I should go and take a graduate certificate in mathematics to increase my employability and also give myself some much needed confidence. But I'm also weary of study at the moment and would love to just get a job where I can start earning a wage and if the urge is still there, go back to university later. The diploma is $7350 per semester which I'd have to come up with from somewhere, I'll be roughly $16 grand in debt once I graduate with my bachelors.

The other alternative is too study this in my own time, which I think I'm quite capable of along with the internet these days. But then I really have nothing to show for it. I mean a lot of people probably wouldn't go for a degree if they could just say what they've learnt in their interview with nothing to back it up.

Anyway this post is become rather verbose, so I'll try boil it down to the main point. What did you do after you graduated and did you feel as if you were ready for the job market? (Another complaint of mine is the emphasis on just passing the exams, with this approach I think most students forget what they've studied within a few weeks post exam). Also what could I do to flesh out my resume? I study a second language outside of university which I can get a certificate for but wouldn't be accredited or anything like that. What other extra curricular activities impress employers?

Australians (if any are on this board) I'd love to hear your thoughts in particular but I think almost anyone could give their constructive 2c.

**EDIT**

I've just realised a few of you will probably be thinking "Why the hell post this here? This is a quant board". I've been reading this site for the past few weeks as I've basically wanted to develop a more mathematical approach to finance and this place comes up on Google more than most. Also the members here are a lot further along in life than myself and would have crossed these bridges before.
 
Given that I'm an undergrad myself, I can't give you too much advice, but I'm just wondering what you mean by "want to develop a more mathematical approach to finance"? For what purpose? Do you want to go into quantitative finance? There are plenty of other areas in finance for which your background would be sufficient.
 
Given that I'm an undergrad myself, I can't give you too much advice, but I'm just wondering what you mean by "want to develop a more mathematical approach to finance"? For what purpose? Do you want to go into quantitative finance? There are plenty of other areas in finance for which your background would be sufficient.

Well the concepts I've learned in class, it all seems like black magic, where people justify their position on balance sheet numbers, gut feelings and existing trading strategies. I feel that if I don't have the necessary math to back it up then I'll be permanently walking around in a dim room never truly being able to see anything and act accordingly.

Also I may find that I want to move into derivatives in the future, or risk analysis. Finally I feel I will be more employable when I can show that I have a few math classes under my belt. Worthless reasons do you think? I'm not sure.

What are the other areas of finance you're talking about may I ask? Just a quick list would be fine I could research them myself.
 
I assume typical investment banking roles (mergers & acquisitions, underwriting, etc) don't require you to know anything beyond addition/subtraction/division/multiplication. Same with Equity Research roles that use fundamental analysis. Just based on the requirements for these positions (and many others) they do not require rigorous training in mathematics.
 
I assume typical investment banking roles (mergers & acquisitions, underwriting, etc) don't require you to know anything beyond addition/subtraction/division/multiplication. Same with Equity Research roles that use fundamental analysis. Just based on the requirements for these positions (and many others) they do not require rigorous training in mathematics.

Yeah probably not. I'll have to think harder about what I want to do in finance first. I might even stick to economics, I'll have to see how interesting econometrics is.
 
If you like math, then go for it - it can't hurt to bring something to the table that most of the people you will be competing with won't have. And like you said, it would potentially provide you with an opportunity to move into quantitative finance down the road.

But again, the majority of areas in finance that someone with a Commerce degree typically moves into, don't require much math.
 
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