Dumb question, but are bankers/brokers good at math?

>>1598236

Arithmetically yes, but nobody needs to do any proofs/derivations etc but the boffins

A famous Hedge Fund Manager said 5th grade level math is all you need to evaluate stock performance.

Banking is a glorified sales position. You are creating models and reports to try to get people to buy something. If you aren't outgoing and full of charisma, you won't be an Investment Banker no matter how good you are at predicting the future. Get into buy side or something else if you think it's all math and science and not being a glorified cars salesman.

Not if you compare to the physics guys

>>1598360
I'm actually glad to hear this, so basically you need to be a good salesman?

It depends. If you want to know where a company is at you need to know some accounting, for which you basically need to know adding and substracting. And perhaps use some standard ratios.
But if you wish to calculate where the market will be in the future you get some high level stuff.

>>1598360
this seems ridiculous. Even the most basic indicators use derivatives and complex functions. Let alone Black Scholz, which is ubiquitous, being a second order PDE. Obviously not everyone that evaluates stocks and instruments is running black-scholz calculations daily but still

>>1598236
No they hire nerds or use software for that

>>1598360
This is an exaggeration and a generalization, but somewhat close in concept. Bankers are very different from brokers and traders. And it matters if you're a market maker vs. a trader vs. "broker" for TD Ameritrade.

To give a general idea of Wall St. progression, it's true that (technically), to be a bulge bracket investment banker, you don't need to routinely use anything past pre-calc. However, you have to be above average strength with numbers because of the sheer volume of work you need to do.

Most IBD analysts/associates are pretty intelligent... from what I've seen, I'd say the average junior banker these days have a robust math background. But the reason why you don't include obtuse, high level math in your models is because your clients are all normal people who are trying to buy and sell companies. They will not likely understand or appreciate optimality of equations and really strongform theory.

FYI, charisma ain't gonna do shit for you at the junior level in the way that you're describing. Sure, you have to be outgoing and socially adjusted enough to get along with your team (while you crank out 100 hour weeks together), but you don't really need to sell shit until you make VP/Director+. That's when the ultimatum becomes "become a rainmaker for us or get out."

While you're a junior, the most important thing is stamina against burnout, determination, and your ability to execute.

Sure, you can say that you only need to know high school level statistics to put together pitch books, but I can assure you that the VAST majority of people would not last a week in junior IBD.

Source: ramping up for BB IBD. Plz don't shittalk my career progression/aspirations without at least doing some due diligence.

>>1598560
Price, volume, balance sheets, what is complex about their functions?