Uni Economy or Maths /Physics defreee

[newtothis15]

My ds likes maths physics and investment banking

Which degree would be a better path

Take him to open days in the different departments he might be interested in.

'Investment banking' is a pretty particular career, has he read up much on that?

Something like half of Maths graduates end up in finance, so Maths is a good option for that career area.

@newtothis15 tell him to look at universities with a strong statistics focus, e.g. MORSE at Warwick, or 'Economics & Statistics' at UCL.

If he enjoys the "logic" of physics, and is inclined towards computing, then useful search terms are computational statistics, machine learning and econometrics. These may be optional modules on relevant degrees in year 2 or 3.

Most importantly, he should do some research about routes into investment banking and be prepared in the September of year 1 to start applying for "Spring Week" placements. They are fiercely competitive, so he will need to do strong applications.

Great points above, OP.

How much does DS know about the reality of an investment banking career? ‘Fiercely competitive’ is an understatement, and the working conditions can be brutal.

I am in STEM. I assure you that students from the quantitative sciences (primarily degrees from Schools of Maths, Physics and Computer Science) with excellent degrees from top universities are highly competitive for entry level positions in investment banking, those with PhDs even more so. They are the ‘quants’.

DS needs a good degree from a very good programme, and genuine enthusiasm for it in order to thrive. The suggestions above are good in general. The MORSE programme at Warwick in particular is very good, but only makes sense if it appeals. Whether Economics, Joint Hons or STEM is not the main question. Excelling and also creating a strong CV is much more important. I think he should therefore do what he likes best.

Gently, much of the fixation YP have on investment banking is likely centred on salaries. But someone who is successful at one of the world’s major tech or consulting companies can be on mid to high six figures by age 40 with low seven figures (including stock options) in tech a realistic goal by age 50. The working conditions are more pleasant and the jobs might be more satisfying to many. Is that salary not sufficient?

I am not sure how investment banking came to dominate the imagination of YP.

None of this is personal to your DS! But I have watched many very talented students adjust their dreams for the financial sector downwards, because the competition is so brutal, while others get on with interesting well paid jobs. (This from a well connected School that does place a reasonable number of students in those highly sought after entry level financial positions)

I am trying to advice ds to take on degree which will not narrow him into a specific financial field but give him skills that can be transferred into other fields (like tech)? In case trends change etc
He does not know the world of banking he is just fascinated by the field itself- numbers, pattern recognition, data etc

"he is just fascinated by the field itself- numbers, pattern recognition, data etc"

The suggestions above for stats-related degrees are also good for general data science and AI, as well as finance, so they are skills that will keep him competitive in a range of modern careers.

My DS did a stats-related course and is now heading towards training as an actuary. Nice salaries there too, and the work-life balance is better than IB.

Great need, OP.

Numbers and patterns is a wonderful field to love and a passion with great employability potential. Perhaps DS might want to investigate the emerging and very hot field of Data Science (incorporating Big Data). This degree is often joint between Maths/Statistics and CS. Otherwise it tends to be housed in one if these Schools.

It is relatively new but graduates are highly desired by employers across finance, tech, life sciences, pharmaceuticals, the Civil Service, etc.

Edit: Great news, OP!

Is there field that involves data and speed of processing data/numbers?

Yes, google the phrase "machine learning"

You can do investment banking with both degrees. He should choose what course content suits him better.

If he wants to be a "Quant" Physics wins out

What about 4th A level French?

Wait. He does maths, physics, economics and french? He doesn't do FM?

He is just choosing atm
OPTION A
Maths
Further Maths
physics
French

OPTION B
Maths
Physics
Economics
French

Do the further maths if we wants to do physics at university. Not doing FM (when the school offers it) hurts applicants applying for physics and economics

Option A.
Further maths is often considered the 4th A level for the more mathsy degrees at top unis. I'd also swap out French for Econ. Gives an essay type subject and more flexibility on the degree choices that target investment banking.

Is there a website that can provide tests to see if child has aptitude for Further Maths

Maths, Futher Maths, Physics and Economics is what my DS did

Well he can tell himself. What's he on track for? Is he on track for a 9 in maths

Yes

If he's on track for a 9 he can handle FM.

What tier of university is DS aspiring to? The top Physics programmes, several top Economics programmes and most ‘upper Russell Group +’ Maths programmes require FM. The ones that don’t may ‘encourage’ it. In practice this means you are expected to take it if your school offers it, and unfortunately you are at a disadvantage if you don’t have it because the review of FM in Y1 is rather rapid.

Interestingly, some strong Economics programmes do not require Economics A level, although the candidate is expected to demonstrate knowledge and deep interest in the field in other ways (independent reading, clubs, essay competitions, debating society, etc).

PS If you elect the Mechanics modules, Maths, FM and Physics integrate and reinforce each other very well, like no other trio of A levels. Not the easiest three by any means but many bright pupils find that this helps a lot.

I think DS should choose Economics or French according to what he likes best. However as a former RG admissions tutor it is my impression that it is more difficult to excel in MFL if you do not speak it at home, because so many who do take each MFL for an easy grade.

Of course we look for A’s and A stars, in a STEM School where foreign language may not be the candidates’ strength. Perhaps someone can tell me I am wrong.

@newtothis15 Just chipping in to say DDs friend who works in investment banking did PPE at Oxford. They don’t just employ mathematicians.

My son works in an investment bank in London and has just completed his grad programme. He did A levels in Maths, further Maths and physics and did a a Maths degree at Durham.
The route that he took was in his second year at Uni he managed to get a place on 12 week paid internship which in effect was a long job interview and he was offered a place on completion of his degree dependant on grade.
What he did find was that only 2 of the 15 interns had maths degrees the rest of them were studying lots of different degrees from English Lit to Goegraphy, it did seem to be more about the universities they had all attended which a large proportion coming from Oxbridge.
This is only his experience other banks could be different,

If he can he should try to keep up a language, though not necessarily an A level. Short courses in the summer, or even activities/volunteering in France. Continue as an extra at University. Jobs in IB, indeed highly paid jobs anywhere, are seriously competitive and having a second language is a very desirable skill.