Finance Major with Statistics or Pure Maths? (in BCom/BAdvSci) (1 Viewer)

[jjHasm]

As the title says.

Both Statistics and Pure Mathematics seem interesting to me. Anyone who has done either or is currently doing it - What do you find the most interesting about your major? Whats boring about it?

The only deciding factor at the moment is if there are different careers/positions to be undertaken with Finance/Stats and Finance/Pure Maths? What type of jobs; entry level and in medium-long term would I be looking at? Which major is more applicable when working in the financial sector?

Personally in terms of career goals, I'd want to work my way to investment banking.

 

[sida1049]

I'm majoring in maths, stats and economics at USYD.

Statistics is without a doubt far more useful to you. Mathematical statistics is highly rigorous, and bits and pieces of pure maths even leak into it (e.g. the measure-theoretic construction of probability). A lot of students dislike statistics, mostly because first-year statistics is often compulsory, not very rigorous, and often taught badly. Statistics will also involve a bit of computing, which is useful and can be interesting sometimes.

I haven't had much experience with pure maths yet, though by the time I graduate, most of my senior maths units would be pure as opposed to applied. Pure maths is very fascinating in and of itself, and it can help you read and understand maths in a completely different, rigorous perspective. The study of pure maths involves contemplating abstract objects and relations in isolation of physical contexts. Though pure maths should not be taken as a means to secure a job, but rather out of your own interest. The main career pure maths majors tend to go into is academia, though sometimes having training in pure maths may get you employed as an applied mathematician (however this isn't something you should rely on). Applied maths is obviously more useful for the financial sector (though likely not as useful as statistics...). If you're studying at USYD, then you can major in maths with your own personal mix of pure and applied units.

Good luck!

 

[jjHasm]

I'm majoring in maths, stats and economics at USYD.

Statistics is without a doubt far more useful to you. Mathematical statistics is highly rigorous, and bits and pieces of pure maths even leak into it (e.g. the measure-theoretic construction of probability). A lot of students dislike statistics, mostly because first-year statistics is often compulsory, not very rigorous, and often taught badly. Statistics will also involve a bit of computing, which is useful and can be interesting sometimes.

I haven't had much experience with pure maths yet, though by the time I graduate, most of my senior maths units would be pure as opposed to applied. Pure maths is very fascinating in and of itself, and it can help you read and understand maths in a completely different, rigorous perspective. The study of pure maths involves contemplating abstract objects and relations in isolation of physical contexts. Though pure maths should not be taken as a means to secure a job, but rather out of your own interest. The main career pure maths majors tend to go into is academia, though sometimes having training in pure maths may get you employed as an applied mathematician (however this isn't something you should rely on). Applied maths is obviously more useful for the financial sector (though likely not as useful as statistics...). If you're studying at USYD, then you can major in maths with your own personal mix of pure and applied units.

Good luck!

Thankyou for the great response!

What I'm looking at right now are these handbook pages for Pure Maths and Statistics:
http://www.handbook.unsw.edu.au/undergraduate/plans/2014/MATHA13986.html
http://www.handbook.unsw.edu.au/undergraduate/plans/2014/MATHA13986.html
+ the one for Applied Maths

And I'm reading the subject summaries for each subject done in the majors. Statistics seems to be more interesting to me as it seems less abstract and more applicable (things like modelling and stochastic processes), making it easier for me to appreciate. I have heaps of time to decide and haven't even started uni yet (until next year), but just want some clear idea of what I'm doing/aiming to do for these next few years of my life. I also want my major in finance to come hand in hand with whatever I'm majoring in my maths degree and not be completely irrelevant or unclear with each other. I'll give an analogy, it's like doing only HSC visual arts and biology as degrees, two completely different worlds. (maybe thats too extreme but you get the point). It seems more enjoyable and interesting that way.

What do you plan on doing after you finish your degree?

 

[sida1049]

Thankyou for the great response!

What I'm looking at right now are these handbook pages for Pure Maths and Statistics:
http://www.handbook.unsw.edu.au/undergraduate/plans/2014/MATHA13986.html
http://www.handbook.unsw.edu.au/undergraduate/plans/2014/MATHA13986.html
+ the one for Applied Maths

And I'm reading the subject summaries for each subject done in the majors. Statistics seems to be more interesting to me as it seems less abstract and more applicable (things like modelling and stochastic processes), making it easier for me to appreciate. I have heaps of time to decide and haven't even started uni yet (until next year), but just want some clear idea of what I'm doing/aiming to do for these next few years of my life. I also want my major in finance to come hand in hand with whatever I'm majoring in my maths degree and not be completely irrelevant or unclear with each other. I'll give an analogy, it's like doing only HSC visual arts and biology as degrees, two completely different worlds. (maybe thats too extreme but you get the point). It seems more enjoyable and interesting that way.

What do you plan on doing after you finish your degree?

I'll probably do honours in mathematics or statistics. Probably the latter, since I enjoy it, and I'd still be able to take honours pure/applied maths units during my statistics honours year (not sure if it's the same for UNSW). After that, depending on how my honours year go, I'll either go for postgrad or start looking for whatever work my maths and stats majors can get me.

If I remember correctly, advanced science/maths at UNSW requires you to take an honours year in your science/maths major. You gotta ask yourself whether you're willing to spend an additional year studying pure maths and writing a thesis on a pure maths topic, despite the low applicability of what you're studying in your future (unless of course, if you decide to pursue the academia route). That said, if pure maths is really interesting to you personally, and you're willing to spend the extra effort even if you'll likely end up working in finance, there's nothing wrong with that either.

 

[jjHasm]

I'll probably do honours in mathematics or statistics. Probably the latter, since I enjoy it, and I'd still be able to take honours pure/applied maths units during my statistics honours year (not sure if it's the same for UNSW). After that, depending on how my honours year go, I'll either go for postgrad or start looking for whatever work my maths and stats majors can get me.

If I remember correctly, advanced science/maths at UNSW requires you to take an honours year in your science/maths major. You gotta ask yourself whether you're willing to spend an additional year studying pure maths and writing a thesis on a pure maths topic, despite the low applicability of what you're studying in your future (unless of course, if you decide to pursue the academia route). That said, if pure maths is really interesting to you personally, and you're willing to spend the extra effort even if you'll likely end up working in finance, there's nothing wrong with that either.

I believe if I maintain a 70+ WAM consistently (which seems achievable if I work hard) I can most definetly do an honours year yes (5th year at university) in the commerce/maths program. And I can do it in statistics If I wish.

Thanks for the help and good luck with your 3 majors at uni

 

[sida1049]

I believe if I maintain a 70+ WAM consistently (which seems achievable if I work hard) I can most definetly do an honours year yes (5th year at university) in the commerce/maths program. And I can do it in statistics If I wish.

Thanks for the help and good luck with your 3 majors at uni

Good luck man! Maths/stats is a lot of fun.

 

[stopcrying]

yo jjhasm i will be majoring in something very similar (Finance/Financial Mathematics & Statistics) and was wondering what ur time table looked like? Also are u doin dalyell scholars and if so are u gonna do the dalyell units first year?

ALSO off topic but i stalked ur posts and BROCKHAMPTON is my favourite band of this year dude (SATURATION II my fave album of the year) just thought id say cos i think we'd get along!