SERVING THE QUANTITATIVE FINANCE COMMUNITY

KackToodles
Posts: 4100
Joined: August 28th, 2005, 10:46 pm

### Financial mathematics and economics

QuoteOriginally posted by: amerikan250k? Waiter? http://www.bls.gov/OES/current/oes353031.htm That page says that a waiter in new york earns about 24k per year. Well, bonuses haven't been included, but still. John those number are based on their official salary paid by the restaurant. Everyone knows that the waiter's real income is from tips. At a good 2 or more star restaurant on Manhattan, rich clients leave $100 tips all the time. (That's because they spend$1000 dollars for a table of 5-10 people.) At a good restaurant, a waiter will serve about 10-20 such tables per evening. If it's in cash, most waiters "forget" to report this income to IRS. I know lawyers who quit to earn more as maitre des in 4 star restaurants.
Last edited by KackToodles on September 11th, 2008, 10:00 pm, edited 1 time in total.

amerikan
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Joined: October 19th, 2007, 11:41 am

### Financial mathematics and economics

Haha, too bad waitresses in Sweden don't get any tip - we got different norms here. No tip, 2500 dollars per month at most, before taxes (1500 after taxes have been paid)./John

Cuchulainn
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### Financial mathematics and economics

QuoteOriginally posted by: amerikanHaha, too bad waitresses in Sweden don't get any tip - we got different norms here. No tip, 2500 dollars per month at most, before taxes (1500 after taxes have been paid)./JohnYes, it's different in Europe. People have a fixed (predictable!) salary and tips are nice but optional. It also means that service is *slower* compared to the US, which is best in the world. They really want the custom quicker service ==> tips
Last edited by Cuchulainn on September 11th, 2008, 10:00 pm, edited 1 time in total.

amerikan
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### Financial mathematics and economics

Haha, yep, that's true. Now, how come we're talking waitresses when this thread used to be about financial math and economics?/John

Cuchulainn
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### Financial mathematics and economics

QuoteOriginally posted by: amerikanHaha, yep, that's true. Now, how come we're talking waitresses when this thread used to be about financial math and economics?/JohnYou did

amerikan
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Joined: October 19th, 2007, 11:41 am

### Financial mathematics and economics

Oh... you're rightHey, it feels like I would have to chat/have an email conversation with some quant. I got some more questions and found out more things I want to know all the time, and I don't want to spam the forum with it If anyone is willing, I would be very thankful/John

AbhiJ
Posts: 748
Joined: August 5th, 2008, 11:29 am

### Financial mathematics and economics

My advice would be spend some more time on forum in the Career Section by using search function and reading past threads you can get a fair idea.

amerikan
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Posts: 69
Joined: October 19th, 2007, 11:41 am

### Financial mathematics and economics

http://www2.ul.ie/pdf/590651473.docWhat do you think about that, people? Pretty much math, including stochaistic math, and economics. Also there's computing. As I remember it, one can add courses in finance (like 2-4 courses). Economics, math, and finance then. Would studying at this program be wise if you want to work in finance/financial math (yes, I know you need a PhD or MSc). I know this thread is old, but I'm soon going to apply to university, and I thought it would be unnecessary to start a new thread about almost the same subjects.So, in short, I need some feedback on that program. I think Siberian said something about that he did math and economics and added some finance, and it worked out well, but I might have misunderstood (and it might have been different courses or so, of course)./John

billyrose
Posts: 25
Joined: October 17th, 2008, 10:25 pm

### Financial mathematics and economics

Hello,All along this thread, people talked about economists. Which type of economists were you talking about? we have financial economics, IO, econometrics, etc.....

amerikan
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Posts: 69
Joined: October 19th, 2007, 11:41 am

### Financial mathematics and economics

This is an "economics and math" program, so I guess econometrics would be close - there are courses like "Econometrics", "mathematical modelling" and "statistical interference", but also computer courses: "Data analysis" and "advanced data analysis". Plus some regular courses of corse, like "Industrial economics". And math courses; "Stochaistic processes", "Linear algebra", "intro to numerical analysis" and of course two courses in calculus. /John

deepvalue
Posts: 918
Joined: April 25th, 2007, 6:08 am

QuoteOriginally posted by: Cuchulainnquicker service ==> tips like everywhere else, you get what you pay for. And make sure to get it before you pay for it. $1 for a cute smile. Cuchulainn Posts: 62425 Joined: July 16th, 2004, 7:38 am Location: Amsterdam Contact: ### Financial mathematics and economics QuoteOriginally posted by: deepvalueQuoteOriginally posted by: Cuchulainnquicker service ==> tips like everywhere else, you get what you pay for. And make sure to get it before you pay for it.$1 for a cute smile. Indeed. Service with a smile.You can catch more flies with honey than with vinegar!
Last edited by Cuchulainn on November 18th, 2008, 11:00 pm, edited 1 time in total.

amerikan
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Joined: October 19th, 2007, 11:41 am

### Financial mathematics and economics

Hm, can we take the waiter discussion somewhere else? I'd like some feedback on the link I gave... /John

DominicConnor
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### Financial mathematics and economics

Cuch's right about catching flies, but if you want the bastards to suffer, then vinegar is more effective.To answer Amerikan's question...The course seems to cover the right sort of things, and I can see itas rational to buy options on related careers. That's not just a function of the market, because if you're choosing your undergrad degree you may find that you will discover things about yourself and this line of work which means it is not so attractive to you as something else.

amerikan
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Joined: October 19th, 2007, 11:41 am