Big Law to Quant/HF - fantasy or possible?
Hi all,
Very simply, currently in big law, was very good at math in undergrad. Took a wrong turn going to law school. Want to work in quant and return to what I enjoy. Love probability and stats and higher math, but no relevant work experience.
Odds of being able to break in? If so, how?
Thanks
Breaking into quant or hedge funds from a big law background is challenging but not impossible. Based on the most helpful WSO content, here are some key insights and steps to consider:
Leverage Your Math Skills: Your strong foundation in math, probability, and statistics is a significant asset. However, you'll need to demonstrate practical application of these skills in a finance or quantitative context. Consider supplementing your knowledge with advanced coursework or certifications in quantitative finance, data science, or programming.
Develop Technical Skills: Quant roles often require proficiency in programming languages like Python, R, or C++, as well as familiarity with tools like MATLAB or SQL. If you're not already skilled in these areas, online courses or bootcamps can help you build the necessary expertise.
Target Smaller or Niche Firms: As noted in WSO threads, smaller hedge funds or niche firms may be more open to unconventional backgrounds. These firms might value your legal expertise combined with quantitative skills, especially in areas like distressed investing or regulatory-driven strategies.
Network Strategically: Networking is crucial for transitioning into finance. Connect with professionals in quant roles or hedge funds, attend industry events, and leverage alumni networks. Building relationships can help you uncover opportunities and gain referrals.
Consider a Transitional Role: If jumping directly into a quant role seems too ambitious, explore roles that bridge your legal background and quantitative interests. For example, risk management, compliance, or legal counsel roles at hedge funds or trading firms could provide a pathway to transition internally.
Showcase Your Commitment: Employers will want to see that you're serious about the switch. Highlight any self-study, certifications, or projects that demonstrate your dedication to learning and applying quantitative skills.
While the odds may be steep, especially without relevant work experience, a combination of targeted skill-building, networking, and strategic positioning can make the transition possible.
Sources: Investment Banking to a Hedge fund... Can You Make the Jump?, Transitioning from tech to a serious finance job (yes, you read that right), https://www.wallstreetoasis.com/forum/asset-management/qa-current-analyst-at-20bn-hedge-fof?customgpt=1, Transition from RE Development to REPE, Q&A: Currently at a Credit Hedge Fund
https://www.linkedin.com/in/eugene-k-63487b112/
https://www.linkedin.com/in/eric-w-aa688ba/
https://www.linkedin.com/in/evan-miller-09ba71214/
seems worth applying to JS at least
Wow! Curious cases here, one was a PM at Citadel before. I wonder if these are real profiles. This definitely gave me hope though. I didn't even think to search linkedin since I thought it was unheard of. Thanks for this.
Look into the Rotational Associate Program at DE Shaw. You won't go from law to quant right away but can break into a more quant-y investing role that way. And if you're actually very good at math, who knows, maybe a look at being a quant
if you have the money why don't you look into the Mfin programs at princeton or MIT? since you have no relevant experience, optimal way to break in would be through an internship vs. throwing a dart at rotational programs (which I think is a much worse EV for your career given big law starting point)
Agreed - in addition, look at MFE programs (which are more geared towards quant than traditional “MFins”, though Princeton’s MFin is more like an MFE). Would encourage you to go to QuantNet as that’s the more relevant forum/resource for aspiring quants
(1) Do you have any advanced math skills? For example, could you find the general solution for y as a function of x of the following formula: dy/dx + y tan x = cos x · y²? Do you have any experience coding math?
Chances are, you don't have the math skills for a quant role, especially demonstrable skills that a quant fund interviewer can identify well enough to get you in the room for an interview in the first place.
(2) What practice group are you in? It will be much easier for you to lateral into a HF that is tied to your current practice. For example, if you work on bankruptcies as a lawyer, distressed hedge funds are a viable option.
OP here. Yes that's just a Bernoulli equation using tan and cos as p(x) and q(x). Not going to solve here but yeah, I can't stand law. I was much better at math. I was stem at a top undergrad, just made an error going into law. Not BX though, mostly M&A
Apply, put your qualifications on - if you get past ATS and HR filter, do the questions and push forward. If you don't get in this round, look at programs that are feeders, and try after. Also look at mid-tier firms as well.
How good was your school / firm? If its top tier, could also move into that DE Shaw investment rotational though more fundamental than quant. Know a few people who did that.
would you be able to share more about the program if you know? Mind if I PM?
You rotate between a few of their investment verticals. Know a few people who have gone through it, typically have 0-3 years of experience in biglaw, typically from Wachtell. Though I'm sure if you have a very legit math background + very good biglaw firm they would give you a shot.
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