Quant Finance/Financial Engineering UG
I am currently a sophomore in high school w a deep interest in economics and finance, especially the quantitative side. Based on a variety of factors about myself, I want to study something in the area of quant finance and financial engineering as a undergrad, but these are exclusively postgrad specializations. Any advice for a undergrad major? I feel econometrics/mathematical economics (as offered by Wharton, for example) is too theoretical and academic for my goals, regular finance or economics is not mathematical enough, and I don't want to be lumped in with that crowd come job search/internship search (as a background, I'm currently studying multivariable calc and linear algebra both). I also want something that teaches transferrable skills that can be applied to technology and AI down the line, after I've spent time in high finance and may do something in the startup space (ex. the calculus in mathematical economics and vector dealings can be applied to AI maths).
So, thoughts?
Based on the most helpful WSO content, it sounds like you're in a bit of a pickle, trying to find the Goldilocks zone of undergrad majors – not too theoretical, not too basic, just right for a future in quant finance and beyond. Here's a bunch of bananas... I mean, advice, for you to consider:
Mathematics or Applied Mathematics: This is the backbone of quantitative finance. With your current studies in multivariable calculus and linear algebra, you're on the right track. A math major can provide the theoretical foundation for advanced financial concepts and computational methods used in AI.
Computer Science: Given your interest in technology and AI, a major in computer science could be highly beneficial. It teaches problem-solving skills and programming, which are crucial in quant finance and the tech industry.
Physics or Engineering: These fields are known for their rigorous quantitative and problem-solving training. Many quants come from these backgrounds because the skills are transferable to financial modeling and algorithmic trading.
Statistics: A major in statistics will give you a strong grounding in data analysis, probability, and statistical methods, which are essential in quant finance for risk management and developing trading strategies.
Double Major or Major-Minor Combination: You could consider combining two fields, like majoring in math with a minor in computer science, or vice versa. This would give you a robust quantitative foundation along with practical programming skills.
Remember, the quant finance industry values diverse skill sets, so demonstrating strong quantitative skills, programming proficiency, and a solid understanding of economics and finance will set you apart. Also, consider getting involved in practical experiences like internships, research projects, or competitions in quantitative fields to bolster your resume.
Keep swinging through those math vines, and you'll land in the right spot! If you want to dive deeper into any of these suggestions, just let me know which number you're curious about, and I'll provide more details.
Sources: Deciding on quantitive majors/career path?, Best internships for Quant Trading?, https://www.wallstreetoasis.com/forum/school/dilemma-quantitative-finance-vs-finance?customgpt=1, What are the different career areas of wallstreet?, MIT vs. Princeton vs. Yale undergrad for quant hedge fund
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