Statistics with Finance Personal Statement

Chin Hua Jun is currently a first year undergraduate pursuing BSc in Statistics with Finance at the London School of Economics and Political Science (LSE). This personal statement was part of his successful admission to the LSE for Statistics with Finance, Imperial College London for Mathematics with Statistics for Finance, King’s College London (KCL) for Mathematics with Management and Finance, University College London (UCL) for Statistics, Economics and Finance, and University of Warwick for Mathematics, Operational Research, Statistics and Economics.

The financial aspect of football such as transfer fees and player wages has always intrigued me as a fan. Browsing through the financial reports of clubs, I gained a greater understanding of how they operate especially with record earnings from broadcast and sponsorship deals. It was surprising to find out that player wages take up to 70% of revenue; I feel this model is unsustainable in the long run. Through my personal research, I learnt how inflation in football differs from actual inflation and how transfer fees have grown at a faster rate compared to the price rise of general goods. My interest was piqued by UEFA’s introduction of Financial Fair Play Regulations to improve the financial health of European club football. Reading into these regulations, I identified several flaws in the system such as tying expenditure to revenue which creates a widening wealth gap between smaller and globally established clubs. The techniques utilised by football clubs to adhere to these rules such as amortisation of transfer fees has also impressed me. The complex financial background of football has compelled me to gain a deeper understanding of the theoretical and practical aspects of finance.

My love for statistics started by reading about counter-intuitive probability puzzles such as the Monty Hall and Birthday Problems and stories like Galton’s usage of a bean machine to show the normal distribution. This was further developed by my interest in sports where the usage of statistics is essential to modern analysis. I am enthralled by the skillful manipulation of simple data to form meaningful statistics. These data are used by a wide range of people, regardless of statistical knowledge, which showed me how simple yet versatile statistics can be. The documentary “The Joy of Stats” enlightened me about its history, application, and role in various fields ranging from astronomy to health. The use of probability theory in finance and economics has drawn my interest as it is integral in intricate processes like calculating risk or cost-benefit analysis. Quantitative representations of abstract ideas appeals to me as it provides a clear and objective view. I hope to expand my ability and interest in statistics to effectively and precisely apply it in the field of finance.

As a child, I attended Olympiad Mathematics classes weekly which sparked my interest in Mathematics from young. I furthered this interest by independently solving mathematical puzzles through creative methods; this taught me to combine logical reasoning and analytical skills to solve problems. In Economics, I enjoy studying about foreign exchange and inflation as they are seen on a global level. The interconnectivity of all the topics has trained me to think on a larger scale by considering their relationships. Physics has helped me master applying learned concepts to solve problems. In these subjects, I constantly use graphs and quantitative methods to prove my findings. Hence, I developed a curious and inquisitive mind that emphasizes understanding ideas and causes before proceeding.

As a member of St John Ambulance Malaysia, I was involved in their fundraising events for multiple years; this educated me on the finances behind NGOs and the struggles they face. Leading my division to collecting the second highest amount of funds despite having less members shows my ability to work with limited resources. In total, I have amassed around 150 hours of public duty service in which I voluntarily rendered first aid assistance at events where I had to think on my feet to treat casualties. As Vice President of my division and a qualified first aider, I devoted time to teaching my juniors first aid which has fostered my leadership and patience. Being a member of this global organisation has helped me mature into a more selfless person.

The world of finance is an exciting field of boundless possibilities and I hope to start off my journey with an education from a top university.

DISCLAIMER: The personal statements on this site are strictly meant as a starting point to give an idea of how successful personal statements look like. There is no surefire formula to writing good personal statements. COLLEGELAH IS STRICTLY AGAINST PLAGIARISM OF ANY KINDUCAS employs a plagiarism check system that checks applicants’ work against other published writing so please DO NOT PLAGIARISE.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s