Commerce- Opinions/Info (1 Viewer)

[deeznuts]

Hi guys, i recently did hsc and for my uai i got 97.5

I would like to get into stockbrocking and have thought a commerce degree is the way to go. I was wondering what you thought about

- which uni is the best (for finance/stockbroking)
- what would be best to major in
- how hard the maths in the course will be
- any extra info u guys could think of
- how many hours per week i would be at uni

i have so far been looking at Sydney Uni and Uni NsW, and to a lesser extent UTS

your views would be much appreciated thanks

 

[sarevok]

which uni is the best (for finance/stockbroking)

Both Sydney uni and UNSW have a good reputation for finance, I wouldn't consider any others.

- what would be best to major in

there would be value in majoring in Finance/Accounting or Finance/Economics or Finance/Econometrics.

- how hard the maths in the course will be

You will be able to complete finance units with 3-unit maths knowledge (speaking only of USyd, I'm not that aware of the finance units at UNSW) though I also know people who are managing to do a finance major having done only 2-unit in their HSC.

- how many hours per week i would be at uni

12-15 hours

 

[Ye Olde St Nick]

HSC Maths (ie. 2 Unit) is sufficient for a Finance Major @ USYD.

The pre-requisites for Finance: Economics, Econometrics and Accounting all have assumed knowledge of just HSC Mathematics.

Also if u wish to avoid harder maths, purely choose Finance electives which don't require as strong a quantitative base.

 

[ND]

If you want to be in equity sales you need to have a strong quantitative background. A double degree with maths and finance would be good.

 

[§eraphim]

If you want to be in equity sales you need to have a strong quantitative background. A double degree with maths and finance would be good.

Thanks for the endorsement ND !

Btw, how did you come to that conclusion? What about for Fixed Income?

Anywayz, how's work at Citibank?

 

[deeznuts]

thanks heaps for your opinions guys, i was also wondering whether an economics degree might be more suited for this field (stockbroking)

and whether bridging courses would be worth doing for the first year of maths

i only did general maths but overall i got 99 in it, without much work, i should have done 2 unit and with a bit of work im sure i wouldnt have much problems with it. I know i will have to cover the 2/3 unit mathematics, but will i need that for the first year? What do u guys think?


thankyou

 

[§eraphim]

I reckon if you haven't done calculus you're pretty screwed. You'll have heaps to catch up on...I strongly suggest you do the Maths bridging course.

 

[deeznuts]

ok thanks,i was fairly sure that i would need to do a bridging course

 

[ND]

Thanks for the endorsement ND !

Btw, how did you come to that conclusion? What about for Fixed Income?

Anywayz, how's work at Citibank?

Well in sales you dont have to have the quantitative expertise of someone in trading, or corp fin., but General Maths won't cut it. This is what i picked up from the extensive reading i've done about the world of investment banking (and unfortunately not from the mouth of an IB).

I wish i did math/finance instead of actuarial/finance, it's too boring.


I'm not working at Citibank atm, cos in Dubai they have their internships in their summer (i.e. our winter) and so i should be going over in june/july. Did you get CSFB? (btw, where did you apply? i looked on their website and couldn't find where to do it)

 

[§eraphim]

Well in sales you dont have to have the quantitative expertise of someone in trading, or corp fin., but General Maths won't cut it. This is what i picked up from the extensive reading i've done about the world of investment banking (and unfortunately not from the mouth of an IB).

I wish i did math/finance instead of actuarial/finance, it's too boring.


I'm not working at Citibank atm, cos in Dubai they have their internships in their summer (i.e. our winter) and so i should be going over in june/july. Did you get CSFB? (btw, where did you apply? i looked on their website and couldn't find where to do it)

I don't trust finance textbooks..they're often written by researchers at IBs who aren't involved in front office ops. I much prefer the training material/ online courses that IBs use themselves to train new recruits...it seems a lot more practical.

Finance & Maths is a really risky combo if you don't cut it.

I applied through uni.

 

[deeznuts]

will the harder/hardest maths in the course be used in the first year of uni?

 

[ND]

Damn macquaire and their non existent on-campus recruitment.

Some of the stuff i've read is written by people who were actually in sales. (i.e. Jim Cramer "Addiction of a Street Addict", Michael Lewis "Liar's Poker").

 

[§eraphim]

Obviously not. It gets progressively harder. But at UNSW you can choose to do more advanced level 1st yr mathematics.

 

[§eraphim]

Hey ND, what kind of maths would be relevant to trading?

 

[ND]

Don't think it really matters, afterall you're not going to be actually using any of the maths you've learned, they just want the quantitative ability.

 

[§eraphim]

So stochastic analysis is learnt for nothing!? >.<

 

[mashi]

I'm currently doing my internship at a well known investment bank in equities research (ie.stockbroking).

I think what you are refering to in 'stockbroking' is more the analyst/research part of it ie. equities research and not equities sales.
Sales don't need to develop financial models, so you don't really need a 'strong maths background'.

However, if you are looking to create your own models for firms within a specific sector ur covering (which is what all stockbrokers primarily do) that is 'stockbroking' per se and you'd be best to do finance + econometrics. Take note however that your career path would be different from most "investment bankers" as they are referring to corporate finance where ur skills can be easily transferred to many other areas.

Stockbroking requires alot of industry experience (experience in the industries ur sector covers) and generally the analysts employed have worked in it before/are in it or have experience etc. very few of them are 'outsiders'/screen jockeys. They also typically earn 250-400K, depending on their rankings.

 

[ND]

Since when has stockbroking referred to ER? It usually (and i thought always) refers to sales. While sales doesn't necesarily require as strong a quantitative background as trading, the best salespeople know as much about trading as the traders and hence need good quantitative schooling.

 

[§eraphim]

FYI - equity derivatives sales at CSFB

Analyst (Equity Derivatives Sales)

Position: Analyst

Programme: Full-Time

Business Division: Equity Sales & Trading

Equity salespeople possess thorough product knowledge of CSFB research, offerings and other products and services, and have a clear understanding of the investment style and needs of each client. Based on this knowledge and understanding, we are able to customize CSFB's large product flow and identify opportunities for clients seeking to improve their investment returns. These clients include mutual funds, investment advisors, banks, pension funds, hedge funds, insurance companies and other financial institutions around the world. The ability to communicate openly and convincingly is paramount.

Sales analysts help the sales force in all aspects of daily product marketing through their understanding of the industries we cover, and by providing essential account management support. Products include High Yield Notes, Equity Swaps, Equity Options, Equity Linked Notes and Swaps.

Interested candidates must have completed their undergraduate studies and available immediately. CSFB is noted for the diversity of its employees but seeks candidates with a common set of abilities – highly motivated, creative individuals who have demonstrated academic achievement and have the ability to work independently while still operating as a member of a team. Strength in verbal and written communication and computer literacy is essential to all that we do. In addition, we look for intelligent, driven and hardworking candidates with consistent leadership skills, involvement in school activities and work experience.

THE FIRM

Credit Suisse First Boston (CSFB) is a leading global investment bank serving institutional, corporate, government and individual clients. Our business in Asia Pacific includes securities underwriting, investment research, sales and trading, and investment banking. In North Asia, we have a footprint across Hong Kong, China, Japan, Korea and Taiwan; in Southeast Asia and Australia, we have a leading franchise in Singapore, Sydney, Melbourne and Indonesia; with strong operations in Malaysia, Philippines and Thailand. . Our commitment to providing superior innovation and outstanding service to each of our clients, combined with our focus on teamwork, diversity and excellence means our recruitment of the best and brightest people is essential to our continued success.

 

[ND]

On the CSFB website, it says that they'll be taking summer interns in only corp fin and equities, how did you get into FI? (i wanna trade FI)