How much math is required in finance
Dual study of mathematics
A degree basically has different requirements in order to find the best applicants and to promote them in the best possible way. In principle, the university entrance qualification is required and, depending on the university, other different qualifications. A dual course of study has the special feature that part of the course is completed in a company or company. Therefore, it is not only important what requirements the university has, but also what the cooperation partner, i.e. the company, expects from you.
Requirements of companies and universities
As in many other subjects, the prerequisites for a dual degree in mathematics are the high school diploma or another equivalent school leaving certificate. But not only is a good average grade decisive, but also especially the grades in math. If possible, at least the grade “good” or “very good” should be on the certificate in this subject. If you have already chosen a specific focus for your degree, such as business mathematics or technical mathematics, it is advisable to have a good base of knowledge in the corresponding subjects.
Of course, previous knowledge and good grades in the school subjects of the desired specialization are an advantage. Some universities have introduced an NC for dual study programs, as there is great demand for dual study programs. It is therefore important to find out more about the specific requirements of the respective university beforehand.
Here is a summary of the requirements we found in our research:
- Abitur or technical diploma
- Grade in mathematics "good" or "very good"
- Good average grade for Abitur
- Good knowledge of English and German
- Teamwork and discipline
- Mathematical understanding
- NC (Numerus Clausus) from the university
The personal requirements for a dual degree in mathematics are, of course, very first and foremost good mathematical understanding, logical reasoning and the ability to understand complex mathematical issuesto convert them into formulas or arithmetic methods and to apply them in practice in various ways. In addition, stamina, resistance to stress and organization are essential for a degree, as well as motivation and teamwork. The division of the learning material and the preparation and follow-up of lectures are important methods for permanently absorbing the knowledge you have learned.
Here is a summary of what you should bring with you:
- Mathematical understanding
- Perseverance and stress resistance
- Motivation and ability to work in a team
- Willingness to learn
At the beginning of a dual degree in mathematics there is usually an introductory phase in which the necessary basics in mathematics, physics and computer science are laid. You need this for the advanced subjects of the main course that build on it in order to understand the complex issues.
The main topics of mathematics range from basic mathematical calculations and applications to very complex formulas and lists. The main course is usually divided into the areas of pure mathematics, applied mathematics and a focus area, that can be selected from various offers. Different subject areas of the course are generally:
- Number theory
- Probability theory
- Differential equation theory
- Numerics and stochastics
Minor subjects can be:
Since these are only a few general examples, you should of course also take a close look at what the university at which you want to complete the dual study program offers. And very important: If you already know in advance which specialization you would like to take, then look for a university that really offers this specialization.
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Salary (during the dual study)
The salary during the dual study program in mathematics is quite different, but mostly belongs to the well-paid training salaries. Of course, the amount of the payment also varies depending on the company and can therefore only be determined using examples.
However, it is not only the salary that is important, but also the additional benefits of the company, which bring additional advantages. Since pure mathematics is rarely or not available as a dual degree, you are welcome to look for business mathematics or applied mathematics as a dual degree or for a full-time degree in mathematics. Here you will find some examples with the different salary levels and possible additional benefits from a dual study of business mathematics:
Salary in the dual study program:
|Companies||1 year||2 years||3rd year||Additional services|
|alliance||1.635 €||1.635 €||1.635 €||including vacation and Christmas bonuses, company pension schemes, bonus for good graduation|
|Mainova||1.100 €||1.200 €||1.300 €||€ 1,100 in the 4th year, payment of the semester fees, job ticket, sports & fitness offers, 30 days vacation per year|
Status: March 2020
Note that the pure salary is not everything. Additional services can take a lot out of you. If, for example, a company pays the tuition fees (which can quickly amount to 500 to 700 euros / month), you are financially relieved.
Career and professional prospects
After studying mathematics, many different professional fields are open to you, as mathematics does not have a fixed job description, but can be used in a variety of ways. So Professions that require mathematical formulas and logical thinking are particularly suitable. These include the IT industry, research and development, banks and insurance companies, the aerospace industry or a job in software and game development. A job in the secret and intelligence service is also possible.
The professional prospects and chances of getting a job are very good and around 80 percent of mathematicians who have studied find a job in a mathematical field in the first year after graduation. Depending on whether and which focus has already been set in the dual course of study, a certain occupation can be aspired to, as the chances there are even higher thanks to the specialization.
Also interesting: There is full employment among mathematicians. This means that by studying mathematics you have almost reserved a job!
Did you know that ...
... the French word for pie chart, ie for a pie chart, is Camenbert?
... the zero is the only number that cannot be represented with Roman numerals?
... Carl Friedrich Gauß was called "Prince of Mathematicians"?
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