Physics Degree for Financial Jobs.

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Discussion Overview

The discussion revolves around the decision-making process of an undergraduate student contemplating a major in physics versus continuing with a double major in statistics and finance. The student is interested in potential career paths in both finance and astrophysics, seeking insights into job opportunities and the relevance of a physics degree in the financial sector.

Discussion Character

  • Exploratory
  • Debate/contested
  • Technical explanation

Main Points Raised

  • Some participants note that financial institutions are increasingly seeking physicists to address complex financial problems.
  • There is a suggestion that a physics degree could lead to diverse opportunities, including law school and engineering, while a focus on statistics and finance may be more directly aligned with analyst roles.
  • One participant asserts that the job outlook for physics graduates in finance is not zero, citing specific job postings that require math or physics degrees due to the complexity of financial derivatives.
  • Another participant emphasizes the importance of distinguishing between jobs that require only a bachelor's degree versus those that necessitate advanced degrees.
  • A participant shares anecdotal advice regarding the path to becoming a quant, highlighting the significance of a strong math background, programming skills, and securing internships from reputable programs.
  • Concerns are raised about the motivations for pursuing analyst or hedge fund positions, suggesting that many are attracted by financial incentives rather than genuine interest in the work.

Areas of Agreement / Disagreement

Participants express a mix of views regarding the job outlook for physics graduates in finance, with some asserting that opportunities exist while others suggest a more pessimistic view. The discussion remains unresolved on the best path forward for the student, with competing perspectives on the value of physics versus finance-related majors.

Contextual Notes

Participants mention various factors influencing job prospects, including the necessity of advanced degrees, the importance of specific skills like programming, and the competitive nature of the finance industry. There is also an acknowledgment of the need for a solid plan when considering a career in finance.

price3121
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I'm an Undergraduate student and need help deciding on what to major in. I'm currently a double major in Statistics and Finance. I would like to work up in New York as a analyst or Hedge Fund manager of the sort. However, hedge fund manager might be unrealistic so an analyst job is probably my best bet. With luck I could slowly work my way up the corporate ladder.

I really really enjoy am intereste in physics and more specifically astrophsyics. I've recently read many things about how financial insitutions are looking for more and more physicist to break down complex financial problems. Sense I enjoy both physics (astrophysics) and the stock market (analyst side of things) I'm at a crossroads and not sure what to do. If I'm dead set on stock market work Then Statistics and Finance would be a good combination. However, physics open a lot more doors such as Law school which I have thought quite a bit about but never seriously. I also could go into some sort of engineering masters program.

I'm looking for direction on the job opportunities in physics and astrophysics. Also wondering how the job outlook is for physics degree in the financial market. If I could get in put from people that are actually in the physics field it woul greatly help. Thanks for your time.
 
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price3121 said:
I really really enjoy am intereste in physics and more specifically astrophsyics. I've recently read many things about how financial insitutions are looking for more and more physicist to break down complex financial problems. Sense I enjoy both physics (astrophysics) and the stock market (analyst side of things) I'm at a crossroads and not sure what to do. If I'm dead set on stock market work Then Statistics and Finance would be a good combination. However, physics open a lot more doors such as Law school which I have thought quite a bit about but never seriously. I also could go into some sort of engineering masters program.

I'm looking for direction on the job opportunities in physics and astrophysics. Also wondering how the job outlook is for physics degree in the financial market.

sure why not:
http://www.independent.co.uk/studen...inance-big-money-seeks-big-brains-400360.html
 
price3121 said:
Also wondering how the job outlook is for physics degree in the financial market.

Right now zero, but that doesn't have anything to do with having a physics degree.
 
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I think you also need to distinguish between jobs that require bachelors and jobs that require advanced degrees.
 
Actually I know its not zero on the job outlook. I've seen many jobs in the financial market that ask specifically for math degrees or physics degree. From what I've read it has to do with the complexity of some of the derivatives.

Also, Yes I will definitely be going on to graduate school in whatever my degree is in.
 
My question is, are you certain that you want to take up a financial/analyst/hedge fund job, seeing how you described your interest to be in astrophysics?
 
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I have interest in both.
 
price3121 said:
I have interest in both.



Well, all majors pretty much open up a door for Law, it just depends on your GPA/LSAT score.

I guess my only point is that most people who are considering these sort of analyst/hedge fund positions are enticed by the money/prestige and not so much the actual work involved. Where exactly would you want to work, for both the hedge fund/analyst positions and the astrophysics route? What would you do with a law degree?
 
price, I am not in physics and not working in finance - finishing up my BS Math.

I will pass on some of the general advice I got from a friend who is employed on wall street, and he is lucky enough to be with a employer that did not go under. His credentials include BS Math, and MS Financial Engineering (Mathematical Finance). Becoming a quant is very hard and it goes a long way if you graduate from a known program because you can secure internships after graduation from masters. You should learn as much math as possible because you can always pick up the business side of things on your own. You should be "exceptional" in C++ programming. They want to hire you for your quantitative abilities. Regarding my friend, after undergrad he ended up becoming an entry level actuary and passed about 5 exams in 4 years. This was essential for him since he was graduating with a math background and needed experience. Not to mention he was able to pay off his student loans and save up nicely. He was able to distinguish himself, and ended up at the Stanford. From there it was just all about working hard and securing an internship upon graduation. He says going to a top program opened up A LOT of doors.
 
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Finance? Now? Better have a plan B.
 
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