UNI course and career advice needed!

[tastoon]

Hi, i have received admission into nus business accountancy, but i am now having second thoughts about the course. The first reason is because i am an analytical and technical person. I love physics chemistry and mathematics.Basically i love numbers and less of management modules which are present in nus business accountancy.

My dream job is to get into investment banking as a market risk analyst. If i may speak freely, is due to its attractive pay.

Hence right now i have difficulty choosing between nus business accountancy, nus mathematics majoring in quantitative finance and nus chemical engineering. I do not mind not getting to investment banking as long as the prospect of my future career is good (for my case, it would mean being able to hit 10k and above at 35 years old or younger).

Please, any advice would be deeply appreciated.

it dosnt really matter which course... there are history majors who make it into investment banking... wat matters is ur internship experience, non-acad experience and how u present yourself in interview and assessment center. Of cos, ur grades must be decent enough to get through the first layer of filter.

but taking a business course may give u more opportunity to do presentation, speak up and pick up some of the business etiquette... the relative ease of the content (compared to the QF and chem eng) will also allow u to free up more time so that u can pursue other non-acad achievements (participating in case competition will be a bonus).

and before you major in math... do note that u can onli apply for QF at the end of year1... and competition is extremely steep... each year they take in about 20-30 students... of which, less than 3 are Singaporeans. you may not even get an interview if your CAP is borderline first class.

Originally Posted by tastoon

Hi, i have received admission into nus business accountancy, but i am now having second thoughts about the course. The first reason is because i am an analytical and technical person. I love physics chemistry and mathematics.Basically i love numbers and less of management modules which are present in nus business accountancy.

My dream job is to get into investment banking as a market risk analyst. If i may speak freely, is due to its attractive pay.

Hence right now i have difficulty choosing between nus business accountancy, nus mathematics majoring in quantitative finance and nus chemical engineering. I do not mind not getting to investment banking as long as the prospect of my future career is good (for my case, it would mean being able to hit 10k and above at 35 years old or younger).

Please, any advice would be deeply appreciated.

You can hit 10k very easily if you manage to get into investment banking. Salary wise will be very different if you're in market risk, but should (no guarantee) be able to hit 10k at 35 years old.

My opinions are as follow (may not be fully accurate):
- NUS Mathematics majoring in QF: Very difficult to get into IB or Banks in general with a math degree.
- NUS Chemical Engineering: Take this if you want to go for O&G. Major oils (e.g. Shell/Exxon) are attractive place to be in due to their salary and relative stability. However, it'll be competitive and it will not be easily to get into those big names. Salary will not be as high as investment banking.
- NUS Business Accountancy: If you really want IB, this will be your best shot. However, do take note that approx 50% of the curriculum will be management-based modules (e.g. qualitative essay stuffs). It may be possible for a person who is inclined towards quantitative stuffs to score well in qualitative modules, but will be difficult. Even then, it will be very difficult to get into IB. Do a reality check if you fall at least into the top 5% of the cohort. The number of positions yearly will be <1% of the cohort. Not impossible, but very competitive.

Overall, the process to get into IB is extremely competitive. Risk Analyst jobs aren't easy to get into to. Take it at your own risk.

Very importantly - follow your passion. I understand that money is an important consideration. However, the life in investment banking comes with lots of sacrifice. For example, in an average day, you may be required to work from 9am-1am. 4ams aren't uncommon. All-nighters (i.e. 9am-7am, go back for a quick washup and return to office) are possible.

You have any idea what does market risk analyst do?
Everyday simply looking at excel stating at numbers that may not make sense.
do some homework n have some real work exp before blindly chasing some "passion"

Originally Posted by Unregistered

You have any idea what does market risk analyst do?
Everyday simply looking at excel stating at numbers that may not make sense.
do some homework n have some real work exp before blindly chasing some "passion"

I have to agree with this.

Although market risk analyst may sound interesting and all, the actual job itself my actually be really different from what you imagine it to be. It can be really dry and repetitive.

[tastoon]

Thx guys, really appreciate your inputs here. Yes i did read up a little on market risk analyst. They use concepts like VAR and stuff like matlab..and they sure sound very interesting..even more so after watching the movie "margin call" .

But im curious.. why does NUS maths degree majoring in QF, which is specifically design for jobs as an analyst, not a better choice for me to entering market risk management in investment banking?

[tastoon]

I did a quick search on linkedin of people who are market risk analyst banking and i noticed that majority of them were taking degrees in maths/physics/financial engineering. If i take NUS maths majoring in QF , would i stand a better chance of being an analyst not in an investment bank?

Well you sound like someone who thinks the "cat's in the bag". Ever heard of Schrodinger's Cat? Your cat may be dead to begin with.

That being said, it is extremely competitive to get into QF, reason being majority of the Maths major all want to major in QF (read: PRCs). Have you taken any Math module? If so, you will understand that it's no longer about solving equations or math problem. Rather, it's about now using Math as a language of science, like understanding the principle behind why 1 + 1 = 2 and not 3,4 or 5. I hate to admit it, but for Singaporeans who went through the conventional education system, we are lagging behind those students from China in terms of exposure and experience in Math. So unless you love and breath Math, think of what will happen IF you do not get into QF. Even then, should you get into QF successfully, you will be competing with the creme de la creme. Should your honours be sucky at the end of the day, you can bet your horses no banks will want you. Afterall, NUS ain't Ivy League to begin with.

Not to splash cold water, but if you do want a career in IB, be very sure to do the correct internships, and get that FCH. FCH just gives you that opportunity to be interviewed, while internship is the one that will determine whether you are hired or not (most of the time anyway).

strongly agree with the poster above.

Maybe just to add in abit more.

A'lvl math is nothing compared to math at university level. For the majority of the singaporean student whose favorite pastime is not reading math textbook or wining math competitions, we r lacking behind the PRCs significantly.
getting an A in A'lvl math means nothing... I have seen so many ppl getting Bs and Cs for their year 1 math module despite scoring A for A'lvl math. A friend of mine who scored 6A in his A'lvl and did H3 math ended his first sem with a CAP of less than 4.5 and couldnt even qualify for QF interview.

And even when you do get in, you will be competing against ppl that goes to the library early in the morning and leaves only when the library is closing almost every single day.

wow... this is demoralising haha.. looks like reality just smacked me right in the face. There goes NUS quantitative finance.. . i guess i will be sticking with NUS bba acc.. looks like a safer route to me. Anyway, thx guys,this is really enlightening.