Hey, so I originally made another post asking about my applications coming up and what program should I be considering for my career goals etc...
Here's the link: www.reddit.com/r/uwaterloo/comments/1pgvock/mathematical_finance_farm_or_mathematical/
To be honest I really just wanted to make another post after right before I have to choose all my programs and I'll give a quick TLDR for those who don't want to read (I don't blame you).
TLDR Career: Energy derivatives trading/analytics (preferably Oil/Gas but I'm learning power currently and it seems pretty fun as well) - want to be a discretionary derivatives trader with/without models (not MM or HFT - LFT trading and not stat-arb or pure systematic strats), and because of the industry moving towards quantitative approaches I want to get a math type degree to open opportunities as a Quant Trader/Analyst as well.
TLDR Math skills: I'm pretty good in school yet never focused on math in high school, so I was literally 15% under class median in 11th grade and right around class median in 12th grade (low 70s in midterms), but I've been improving study habits and focusing more and have been getting on quizzes and tests 80s-90s in the last few units.
I've been considering doing FARM after speaking with so many people but some people recommended me to take Statistics instead as it can be more relevant for commodities. Just some quick questions:
1. How hard is the Math in Statistics? - I've heard it's a lot more easier the first few years and I've checked the required courses and it does seem to be. Yet I heard last few years are a lot more tough.
2. Is the co-op program for Statistics good? - I've heard FARM gives you a lot of opportunities within BB banks, etc... Would Statistics be similar in many getting into co-ops for derivatives analytics for commodities, or similar at Hedge funds, BB banks, and commodity merchants?
3. What really is Statistics? - I'm very interested in Economics, the markets, and analyzing certain things. Yet I'm unsure of what statistics really is, it seems to integrate some modelling of data, analyzing how variables can affect results, and deriving conclusions from it. Which seems a bit fun but I'm not sure what I should be looking for to know if I'll truly enjoy such a program.
4. I've heard a lot of people say on many of the posts from past things that you'll most likely need to get a masters or go to graduate school after taking undergrad Statistics as that's where most job opportunities will be gotten. Is this true? I'm really only wanting to stay in school until undergrad, and would this mean that Statistics undergrad could be a potential dead-end?
Note: If the university is fine with it, I'm completely fine with taking an extra year and all that if I find the coursework hard. My math skills aren't necessarily bad it's just that I never put in the time as I always thought my interests would be outside of it, yet now I realize that's not really the case. I'm taking a gap year either way for personal projects that I need to work on, and I'll probably be learning the first/second year Uni stuff for math as well just to prepare myself.
I'd really appreciate any final advice for if I should add this as one of my programs. Thanks!
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