B.S Quantitative Finance

[Dtm]

How is a B.S in quantitative viewed when applying for jobs and internships?

 

[Andy Nguyen]

Depends on which type of jobs. Most of the quant jobs these days require at least a master degree or years of relevance experience.

 

[Dtm]

I want to end up as a quant. Would that be a good starting point?

 

[Andy Nguyen]

https://www.quantnet.com/threads/ma...uants-mfe-financial-engineering-students.535/

 

[Dtm]

Is a quant finance degree better then a pure math degree? I am new to this and being a quant is something I think I could do. This is the curriculum for the program http://howe-undergrad.stevens.edu//fileadmin/templates/img/new_dc_site/QF_Curriculum_Model.pdf is this something that would be worth doing?

 

[Andy Nguyen]

As I suggest the list of reading you should do prior, you will be able to narrow down your questions to something more specific after you read that. At least, make an effort to go through the top 10 items on the list or so.

 

[Dtm]

Okay, thank you. I will read all these come back with questions.

 

[Dtm]

I'm going through all the pdfs and I am seeing that a lot of this is coming from Europe, if I am reading it correctly. Is there a job market for quants in the United States. Also it says the a PhD is almost always required, are there jobs available for people who can't afford to go to grad school right away but still want to get into this field?

 

[Andy Nguyen]

A sample of quant jobs http://www.quantfinancejobs.com/

 

[Dtm]

Very helpful. Is a b.s quant finance consider a quantitative degree, I know its still a new program? Or would I have more options with a math or computer engineering degree?

 

[Jose T]

You would have more options with a math or computer engineering degree because you could work outside the financial industry and many people with those degrees do not work in the financial industry.

If you get a quant BS, it is a gamble, because it is new thing. It could be that four years from now, there will be a lot of a lot of jobs for people with BS in Quant Finance. On the other hand, if there's not, it's harder for you to get a job in another industry because you have studied something that is not well understood outside of the investment industry.

 

[Dtm]

I hope to work in the financial world because I am fascinated with it. Is a BS in Quant Finance a degree grad schools will respect? Also is this a growing field? I've heard that the financial world is starting to move away from speculation and moving more toward quantitative analysis. Is this true?

 

[Jose T]

I think it's accurate that people in Finance are more conservative now. Quant refers to a sell-side derivatives role whose job prospects are likely to be positively correlated with an environment of increased exuberance. A more conservative environment may mean less Quant jobs, but it is hard to know anything for sure.

If you're just referring to a 'quant-like' role, like risk, there may be more opportunities in the future however there is also a large amount of candidates for these areas (partially due to people who cannot get 'Quant' in this environment looking for the next closest thing).

 

[Jose T]

Btw, if your only goal is to work in the financial world, I'd suggest you also research non-quant jobs on Wall Street in addition to Andy's list. Here are two useful websites:

http://www.wallstreetoasis.com/
http://www.mergersandinquisitions.com/

Quants are a small part of Wall Street, but your Quant Finance BS would be pretty specific to the Quant job. Something to think about.

 

[TheMaster]

Depends on which type of jobs. Most of the quant jobs these days require at least a master degree or years of relevance experience.

x2 go for a MFE or Ph.D.

 

[Dtm]

Is a BS in quant finance a good start knowing I will ultimately get a MFE or Ph.D?

 

[Andy Nguyen]

No. If you ultimately go to graduate school, use your BS as a foundation to build on applicable skills, not narrow domain knowledge.
Think what will serve you in the long run.

 

[TheMaster]

Is a BS in quant finance a good start knowing I will ultimately get a MFE or Ph.D?

For a MFE or Ph.D. you will ultimately need to have a good grounding in math/comp sci. Most MFE programs will require calc1-3, linear algebra, and differential equations to start. In addition, some c++ programming (2 courses). Those are just the basic guidelines. In the job market, you will want to know some other languages such as python, sql, and vba. It is more competitive today than it was in 2006. On the other hand, Ph.D. programs in Finance are ultra competitive requiring high GMAT scores. To give you a better idea of whether or not to major in quantitative finance, study for and take the gre or gmat. If you're scoring in the 95th percentile or better in the quantitative portion, you'll likely have a good chance at a MFE or Ph.D. program. Manhattan GRE/GMAT provides some good books for studying. It should take you two to four months to complete the series. Good luck!

As far as my recommendation goes, if you're worried that you might not do a MFE/Ph.D. then major in computer science. But if you're deadset on becoming a quant, major in quantitative finance as the exposure will likely serve you well in graduate studies.

 

[Dtm]

For a MFE or Ph.D. you will ultimately need to have a good grounding in math/comp sci. Most MFE programs will require calc1-3, linear algebra, and differential equations to start. In addition, some c++ programming (2 courses). Those are just the basic guidelines. In the job market, you will want to know some other languages such as python, sql, and vba. It is more competitive today than it was in 2006. On the other hand, Ph.D. programs in Finance are ultra competitive requiring high GMAT scores. To give you a better idea of whether or not to major in quantitative finance, study for and take the gre or gmat. If you're scoring in the 95th percentile or better in the quantitative portion, you'll likely have a good chance at a MFE or Ph.D. program. Manhattan GRE/GMAT provides some good books for studying. It should take you two to four months to complete the series. Good luck!

As far as my recommendation goes, if you're worried that you might not do a MFE/Ph.D. then major in computer science. But if you're deadset on becoming a quant, major in quantitative finance as the exposure will likely serve you well in graduate studies.

I have already taken all of those math courses, along with 3 courses in c++. I have practiced the gmat and have scored in 95 percentile in the quantitative sections. I guess my main question is will a BS in quant finance allow me to get a jo while I work toward a MFE or Ph.D? Just going to school is something I can't afford.

 

[Andy Nguyen]

I guess my main question is will a BS in quant finance allow me to get a jo while I work toward a MFE or Ph.D? Just going to school is something I can't afford.

Ask the people who run that BS program to see what kind of internship/jobs their graduates have. Working a few years after your undergrad to get experience is a good idea. Graduate schools are always there if you decide to do MFE later.