- Joined
- 1/1/12
- Messages
- 129
- Points
- 38
10) Do your homework / take non-preprogram classes. The problem with specialized preprogram courses is their narrowness in focus. So if you want to learn C++, learn C++. If you wanna learn statistics, learn statistics. Don't bother with the dumb down finance version. MFE will do that for you when you're in the program.
9) Read. Forget about the technical stuff. Read vaults guide on financial careers. Read WSJ. What's going on in the world? How is a bank / hedge fund structured? Why are banks firing and where are they hiring? What are the industry trend? What are the recruitment channels / schedule?[prbreak][/prbreak]
8) Start a project. Nothing says passion more than action. if you know finance, compile a database of companies, track their capital structure, and find where financial instruments can be useful for asset/liability management. If you know compsci, make an app to visualize monte carlo simulation. If you know econ, propose an indicator and explore its prediction / trading value.
7) Explore alternative careers. Actuary, trading software development, project management all expose you to the technical aspect of finance and they all pay pretty well.
6) Study the CFA. This is probably controversial. CFA doesn't really help you get a job. It does, however, teach you the portfolio management objectives of different market participants (banks, hedge funds, insurance company, etc) and how these competing goals translate to market demand and supply.
5) Stop obsessing with quantnet, global derivatives, or whatever MFE theme site you waste countless hours on. If you want a better idea of your profile, go to school websites and go through their student profiles. NYU even has some of the resumes out. Think what they can write about you. If they can write something similar / better with your achievements / credentials, then you have a good shot. If not, then maybe you should try doing some of the "selling points" current students have done.
4) Find a hobby. Get a pet. Do yoga. Find a girlfriend. Whatever it takes your mind off this MFE crap. You submitted your application and there's nothing left to do. Admissions will call / email you if they need you. So go take the time to find yourself. Enjoy the little things in life. You might never see them again when you start spending all your days in front of computer doing simulation and coding and missing piano recitation of your daughter's.
3) Start a trading account. Nothing teaches you more about yourself when you lose your lunch money over a stupid mistake. If you don't have the money, use paper money and go to updown.com or a dozen of other virtual trading site. Track all your transactions and record down your rationale. Why did you buy it? Was there a headline? Did you grow up next to a factory? No education makes you more attractive as a potential trader than a list of transactions with positive pnl.
2) Apply to non-MFE programs. Seriously, most respectable programs all have single digits admissions rate. Even if their decisions ARE independent, 5 apps * $100 per app = $500 in applications fee yet still short of 50% chance getting anywhere. Is there other ways getting the same job through other grad programs (compsci, MBA, statistics?) In fact, I argue that non-MFE programs are BETTER because they give you backup plans which MFEs don't have. Even if you do get a 100k job after graduation, what if you hate it?
1) Call your mother. Yes, that's right. Spend time with your family. Once admitted, you'll be drowned in work and start living in a world your parents won't know a thing about ("delta? Like the airline?") Worst yet, all they will know is that 1) banks are firing, and they worry about you, and 2) you'll be one of the jackasses who brought on the financial crisis.
Refine your resume, subscribe to a job posting listserv, apply to jobs, and go through some interviews. Mark Joshi's book has a very good intro on what quants really do and it's a fun workbook. You'll learn so much more about yourself and the industry than listening to all the marketing pitches flying around.
