Undergrad degree combos?

[WilliamRFrost]

I'm still researching what I want to do with my life, and I'm finding a number of interesting options (that is beyond MFE, completely different areas, not different branches of MFE), and I want to try to get a very broad undergrad degree which gives me depth in all these areas, because I'll probably only ever get an MS in one.

What I did was plan out all the classes that seemed interesting, useful, and seemed to have synergy with other classes I thought sounded interesting and useful. The result, 6 years of undergrad, (which I'm not planning on doing). 5 years I am less opposed to.

So, the extensive research has lead me to think I would enjoy work that comes with study in these areas:

Economics
Finance
Informatics (specifically Data Mining)
Operations Research (part of the Industrial Engineering dept. here)

And to a lesser extent, Math and General Business. I like math but don't think I'd want to spend my entire day doing only that, and everyone and their monkey studies general business. I'd also like some programming to be involved in any of those, but not to the level where I'd need a CS degree.

I like that they all involve most of the others as well.

So, of the following combinations, which will set me up best for work/grad school in all of these fields. If I have to show preference, I would say that I am most interested in Finance, then Informatics, then Economics, but my preference may change as well. I'm am definitely going to do Industrial Engineering.

Industrial Engineering
Informatics
Economics
[5 Computer Science courses]
_________________
Industrial Engineering
Financial Mathematics
Economics
[2 Computer Science courses, with some additional programming in the Math classes]
_________________
Industrial Engineering
Informatics
Financial Mathematics
[5 Computer Science courses, with some additional programming in the Math classes]

I have also ranked those by ease based on a few things. Assume my GPA will be higher in the 1st set than the 2nd, and that more than the 3rd (which is something to consider when applying for jobs/grad school).

My thoughts on it are:

If I do eventually do an MFE (which I am at this point thinking I won't but I don't know), there's least use in doing the Financial Mathematics because I will learn almost all of that in the MFE program.

If I do an MSOR, the Financial Mathematics combined with it will give me a VERY broad applied maths education.

If I do an MSF, the Financial Mathematics will give me a VERY broad finance education (knowing a lot of quantitative and qualitative stuff).

If I do an MSI (this seems less substantially less lucrative than the other options, but still interesting, and many people go work at libraries, while consulting jobs seem well compensated... so conflicting thoughts) the previous Informatics education will give me a broad degree in the areas of this I find interesting (drawing conclusions from data, and the managing of information).

As for those majors themselves...

Economics is a good addition to any major for reasons you all know.

Informatics, in addition to seeming very interesting, seems to be a good addition to finance (I'm assuming that either you or someone in the background is analyzing data...)

Financial mathematics is good because right now I think I want to study/work in finance moreso than anything else.

So, what are your opinions on this?

Thanks

--By the way, I'm asking here because I imagine many of you have studied, or know someone who has studied in one of these areas. I also somehow feel that there is an overlap in interest of these subjects by many.

 

[Connor]

I'll give my 2 cents but first my background. At undergraduate I double majored in Finance and Accounting and minored in Computer Science, and I am currently working on a MSc in Finance and Investment.

In my opinion, you need to decide if you want to do industrial engineering or finance because while you could do IE and then go on to finance, if you know you definitely want to do finance I believe there are better combinations.

First I would recommend a lighter course load and focus on your GPA. Many of the firms I have looked into (asset management / investment banking) accept students from a wide variety of backgrounds and then teach them finance, but the key is to have a strong GPA and extracurriculars to demonstrate intelligence and leadership.

I would recommend doing Math and Economics with a minor in Computer Science and then doing a MFE or MSF.

 

[stevens]

I'll throw my background out there too just to give you an idea of the "combination" degree i'm completing. It's a B.Eng.Mgt (Bachelor of Engineering and Management). It's a 5-year program that combines an engineering degree with the core requirements of my school's commerce degree. I'm not sure if there are similar programs offered in the US.

In my case, I'm doing electrical engineering and through my business coursework i'm doing a minor in finance, in addition to taking other core business courses like Marketing, HR, Financial and Cost Accounting, Micro and Macroeconomics, etc. Other electives have allowed me to take operations research and optimization. ive got stochastic and random processes covered through EE.

Although the degree is an extra year, I feel it is worth it in terms of preparation for an MFE. Up here (Canada), the degree is highly respected and sought after. employers like students who are technical yet still have general business knowledge.

 

[WilliamRFrost]

I definitely do want to get an IE degree. Firstly, it is much better at guaranteeing a good job out of undergrad (this is one of the top schools for IE). Secondly, I have more credits toward it than I am willing to abandon.

I am not a 100% sure on finance either. Right now I'm saying "Yeah I can handle 80 hour weeks!" in a few years, I might not be feeling the same way. It definitely does sound very interesting to me though.

So, I'm not sure what I want to do, which is why I'm looking at the general degree.

The financial mathematics is really more math than finance. It's a math major under the math department, not a finance major under a finance department.

I can dump the financial mathematics idea, but then my math background is only the background that comes with IE, as there's no additional math for anything else. IE only uses Calc I-III, differential equations, 1 semester of statistics, and linear algebra, and a couple of mathy classes which build on those a little but aren't math classes. However, I imagine these classes would be hardest.

From a GPA standpoint, IE with Econ major and a CS minor is easier than any of the previously mentioned combos, but that is mostly because it frees up a number of easy A credits I can take to boost my GPA (also because Econ is easier than math), but I also lose out on a lot of classes I was looking to take.

If I am to drop something, I am least adverse to dropping the informatics. However, most of the requirements for it are Stats (people who couldn't cut it out as a math major) and lower (meaning ones that no CS majors take, though there are a couple of higher ones) CS classes, which I imagine is not a GPA killer. Interesting stuff, but shouldn't be super hard. However, it requires a very large number of credits.

 

[Miket]

whats ur reasoning for wanting to double major?

since ur already set on doing IE, i would recommend that while you finish ur IE classes you figure out what exactly you want to do first and then figure out if adding a seond major would help you achieve that purpose. not much reason to put in all that extra work for no reason

also i think econ and IE are similar enough that it'd be rather redundant to double major.. IE was part of the econ department at my school.

as for me i double majored in IE and math.. i actually finished my IE requirements early then added the math major since i decided i wanted to do an mfe (which im about to start on in jan)