What are some realistic career options for a math fin grad major?

[Christopher lee]

I'm going to a top 15 mathematical finance program. I have no problem taking entry level positions. I know it's unusual, but I'm wondering, is it realistic to compete for entry level consulting or ib jobs with a mathematical finance grad school degree? Or what other options do we have other than the traditional trading/quant/risk (and actuarial)?

 

[IntoDarkness]

top 15? no chance

 

[Christopher lee]

how about if it's an ivy league? or does that not matter

 

[IntoDarkness]

no ivy league in the top 15 range. but if u really wana try those jobs, u better off study something like master of management/finance

 

[drahmah]

I really don't agree with anything the guy above says. I will assume you're going to Columbia MathFin. While it might be difficult for you to get IB jobs at the handful of top banks, I am sure many of the lesser banks will take you seriously as long as you work towards it. I don't know what you did for undergrad, but apart from your MathFin degree, you will need to get exposure in corporate finance. At the very least you need to know DCF analysis, be good at excel and VBA, and know enough accounting to read financial statements. A CFA would probably help a lot too. Ivy league matters a lot in IB. You should talk to the business career services at Columbia as I'm sure they are experts on getting people into IB.

Consulting is different. Again, it depends on what you did for undergrad. Ivy league is also great in consulting, although it matters less than in IB. You probably know there's a lot of different types of consulting: management consulting, IT consulting, strategy consulting, data & analytics consulting, risk consulting, etc. The most straight-forward position for MathFin would probably be in financial risk consulting or data & analytics consulting at a Big 4 accounting firm. Strategy consulting and Management consulting firms like McKinsey, BCG, and Bain tend to hire more from Management Science & Engineering programs or Operations Research programs, but you might get lucky. The key thing about consulting is that you need a broad base of knowledge, so MathFin can seem too theoretical. Take practical coursework, and put team-based projects you've done on your resume. An internship experience at a consulting firm will work greatly to your advantage. Prepare very well for case interviews.

 

[C S]

While it might be difficult for you to get IB jobs at the handful of top banks, I am sure many of the lesser banks will take you seriously as long as you work towards it. .

I wonder how you can be "sure". Do you actually have some experience with how these "lesser" banks hire for IB positions?

 

[C S]

I'm going to a top 15 mathematical finance program. I have no problem taking entry level positions. I know it's unusual, but I'm wondering, is it realistic to compete for entry level consulting or ib jobs with a mathematical finance grad school degree? Or what other options do we have other than the traditional trading/quant/risk (and actuarial)?

I'm not going to say I'm "sure"/confident like some of the other posts here, but I will comment on some observations garnered over the few years I've been working. I've noticed that some jobs value technical skill more and others value drive, social skills, etc. People that get the entry-level IB jobs seem to fit a certain mold. They are generally pretty confident (perhaps overly so), know what they want (and have known since earlier in their college career), and have a lot of energy.

Unfortunately going to a math finance program, and then applying for IB pretty much shows you have NOT known what you wanted. That's already one strike against you. Are you out? No, not yet. I'd really take a step back and take an honest self-assessment. If not for the "glamour" and anticipated money, would you be thinking about it?

 

[Christopher lee]

I'm not going to say I'm "sure"/confident like some of the other posts here, but I will comment on some observations garnered over the few years I've been working. I've noticed that some jobs value technical skill more and others value drive, social skills, etc. People that get the entry-level IB jobs seem to fit a certain mold. They are generally pretty confident (perhaps overly so), know what they want (and have known since earlier in their college career), and have a lot of energy.

Unfortunately going to a math finance program, and then applying for IB pretty much shows you have NOT known what you wanted. That's already one strike against you. Are you out? No, not yet. I'd really take a step back and take an honest self-assessment. If not for the "glamour" and anticipated money, would you be thinking about it?

Would this be the same scenario for consulting? I've always been interested in IB but didn't have the target school background or the social skills necessary to get in. Which is why I'm taking some communication classes in grad schools to work on my social skills.

 

[pingu]

Would this be the same scenario for consulting? I've always been interested in IB but didn't have the target school background or the social skills necessary to get in. Which is why I'm taking some communication classes in grad schools to work on my social skills.

Communication classes to work on your social skills??
if you want to work on social skills, interact with people outside of your comfort zone.

 

[Christopher lee]

well not exactly social skills but i mean interview skills and the skills to communicate the technichal skills to people who don't have that knowledge haha

 

[drahmah]

I wonder how you can be "sure". Do you actually have some experience with how these "lesser" banks hire for IB positions?

I use the word 'sure' in this context, where I found the previous post to be almost hatefully insincere and negative, as a form of encouragement to the OP. To answer your question, I know people who have gone into IB from an MSFE program (finance undergrad), and have talked to enough people to know that IB does not discriminate much on what you did in school. People can get into IB even if they studied English, or political science, or music, or anything really. I know a person who went the music route and is now in IB.

Communications skills are important in consulting, as they are in almost any other job except quant work. But you can fake a lot of it at the interviews. Go youtube 'management consulting case interview.' I interviewed for Bain twice, and on the second time I realized that the questions they asked me were the same both times. Everything you need is in those videos. After that, I just typed out my answers for the behavioral questions they were going to ask me and memorized it. You still need to do some improvisations in the case interview, but you can practice that too.

 

[Ken Abbott]

I really don't agree with anything the guy above says. I will assume you're going to Columbia MathFin. While it might be difficult for you to get IB jobs at the handful of top banks, I am sure many of the lesser banks will take you seriously as long as you work towards it.

This isn't true. I know plenty of people with degrees from state schools (and by "state" I don't mean Michigan, UVA or UCLA) who got great entry level positions at bulge bracket firms. It takes industry knowledge, persistence, networking skills, and a little luck - but then again, "luck" is often what happens when preparation meets opportunity...

 

[Alexandre Chretien]

Would this be the same scenario for consulting? I've always been interested in IB but didn't have the target school background or the social skills necessary to get in. Which is why I'm taking some communication classes in grad schools to work on my social skills.

I'm curious, do you get units/credits for these classes?
How much does it cost you to take these classes?

Communication classes to work on your social skills??
if you want to work on social skills, interact with people outside of your comfort zone.

This is the best way to work on your social skills.