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KackToodles
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Financial mathematics and economics

September 12th, 2008, 7:22 am

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.
 
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amerikan
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Financial mathematics and economics

September 12th, 2008, 8:18 am

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
 
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Cuchulainn
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Financial mathematics and economics

September 12th, 2008, 8:58 am

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.
 
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amerikan
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Financial mathematics and economics

September 12th, 2008, 9:30 am

Haha, yep, that's true. Now, how come we're talking waitresses when this thread used to be about financial math and economics?/John
 
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Cuchulainn
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September 12th, 2008, 10:44 am

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
 
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amerikan
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Financial mathematics and economics

September 12th, 2008, 8:56 pm

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
 
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AbhiJ
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Financial mathematics and economics

September 16th, 2008, 7:24 am

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.
 
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amerikan
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Financial mathematics and economics

November 18th, 2008, 11:18 pm

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
 
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billyrose
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Financial mathematics and economics

November 19th, 2008, 1:22 am

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

November 19th, 2008, 6:30 am

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
 
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deepvalue
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Financial mathematics and economics

November 19th, 2008, 7:37 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.
 
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Cuchulainn
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November 19th, 2008, 8:50 am

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.
 
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amerikan
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Financial mathematics and economics

November 19th, 2008, 2:04 pm

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

November 19th, 2008, 3:26 pm

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.
 
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amerikan
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Financial mathematics and economics

November 19th, 2008, 4:55 pm

Thank you Dominic, now I feel a little bit more safe. The administration at NUI Galway (the place which offer the financial math and economics program) seems to be a total mess. I tried to find out the admission requirements in Math for Swedish students, and well... first I called the admission office, who told me to call the International Student office, who told me to call the CAO (a government authority who oversees the application process for undergrads), who told me to call the Economics department at NUI Galway, who told me to call the professor at the program, who didn't answer, so I sent him an email, which he did not respond to. Two months later, I sent him another email, which he did answer. He began by saying that he was sorry he hadn't answered my last email earlier... he had forwarded it to the Mathematics Department, who appearntly didn't got back to me! At University of Limerick, I got pretty straight answers directly from the professor (who also knows how to answer the phone). The class is smaller (10 students), and I find the courses interesting - and they give me a broader education than a simple Financial math degree would. Just one question... what does "itas" mean? I haven't heard that word before, but I assume what you're trying to say is that a broad education is good to have, since the market can shift. Traders, portfolio managers and strategists seems to earn pretty well (the two first of them got, according to someone in this thread, 200k + 200 % bonus, which would mean 600k totally - at a junior level), so maybe I should try become something like that Economists, or people with some education in economics, could work as strategists if I got it right./John
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