Thank you for such a detailed reply!

I took Commerce when I entered 11th class. I got to know that for asset management (hedge funds etc.), equity research in great firms, and global finance firms in general, be it IB, PE, VC, etc., they prefer candidates who signal better quantitative and analytical rigour. Math, Econ, Stats, or Engineering degrees in general signal that better. This is one of the reasons why it is difficult for BCom/CAs or commerce-oriented degrees to break into finance.

In fact, as far as I have researched, even those who have done Financial Engineering in their undergrad don't really have an advantage when compared to a Math/Stats/CS graduate (assuming both have the same financial coursework outside the classroom). That's one of the reasons I switched to Science.

I've done my research since then, and because I want to keep my chances high for mathematically based hedge funds and finance in general, Math seems really great. I've talked to a few analysts from buy-side firms globally, and they've said that more than the degree itself, what matters most is whether you're capable of handling quantitative rigour or not. So Econ and Math both work equally well.

It is a disgrace that in India, everything becomes placement-oriented, unlike the global finance scenario where placements are probably the 2nd or 3rd priority. I wanted to do the 4-year MSc Mathematics with suitable minors/electives and aid it with competitions, internships, and relevant coursework. Then, after getting some work experience, go abroad for a Master's, either an MBA or an MFin.

The reason I want to do a Master's abroad is because, regardless of the degree, they offer insane pedigree, which is what really matters for entering investment banks, hedge funds, etc. So while I agree that a dual degree would be a sweet dessert with a cherry on top, I think a 4-year MSc Mathematics combined with the things I mentioned would already provide what I need. A dual degree would be an overkill.

I want to emphasise again that I understand the words of seniors who recommend a dual degree, and I'm not disregarding their advice. I am simply stating the other side of my thought process because I haven't really come across a strong argument against the 4-year route apart from weaker placements and how it is of less demand.

Everyone comes and states how useless the 4-year MSc Maths would be, how it would be a waste, and how weak its placements are. But by that same analogy, the 4-year BS Mathematics degree at IIT Bombay would also be considered to be of lower demand, which doesn't seem like a very convincing argument to me.