Breaking into Quant HFs
I recently decided that I want to change plans and pursue a quant route rather than IB, but am not sure what the best path would be for breaking into HFs. I am studying Qfin and Math double (rising junior), but can't really find any alumni that would be able to help much.
Should I just start reaching out to people at random funds and ask them about their jobs, etc. to get an in? Also, is a HF even the best first step, or should I try to get a position as a quant at a BB or somewhere else?
All input is greatly appreciated.
You could start by asking your professors and school career service/alumni service if they know anyone? or you could even ask your professors for advice on what to focus/practice.
Is this Qfin program new? it might be a reason why it's hard to find alumni.
That's a good idea, I'll set up a couple meetings with them. It's not that new, it's just that most QFins get an Econ double (if they get a double) and go into IB or risk analysis, etc., whereas I am getting the math double and want to showcase my aptitude for math (and I feel that math is less common/"harder" and want to capitalize on that)
Just curious why you decide to choose Qfinance > traditional finance? personal preference, pay, etc.?
Because I am a lot better at math (and enjoy it more) than most people and felt that I would be competing with a smaller pool of candidates. I am also a lot more socially intelligent (athletic and in a fraternity etc.) than kids in my classes or people that are good at math (generalization) and felt that gave me an advantage. Some quants are strictly quants and rely on other people for financial expertise to make models better, etc., but being interested in both, I feel that having expertise in both would give me another advantage over other quants. Additionally, quants don't necessarily have to necessarily put in the crazy 80 hour weeks that IB does (could be wrong, just my perception).
I feet that no matter what, Qfins will be able to find a high paying job as math is perhaps that most coveted skill in the world (and possibly most lucrative) and can be applied to a number of fields. I was listening to a podcast recently and they said that with more and more quant funds popping up, there is currently a shortage of quants/analysts.
What podcast was that if you don't mind me asking?
How do I transition from prop trading to doing Quant strategies for a HF? (Originally Posted: 08/18/2017)
I'm looking to transition from prop trading (wholesale power) to developing and implementing strategies for a hedgefund / large bank. I've written a masters thesis and working on a line of papers (first one already out) on using text mining and ML algorithms to predict commodity prices. Is there a better way to break in other than send out a thousand blind emails to a bunch of funds? I'm currently living and working in the Deep South, so probably not going to do any "local networking" and my colleges don't exactly have large alumni networks in finance.
Bump
Quantitative Hedge Fund (Originally Posted: 07/21/2011)
I applied to a small unknown quantitative hedge fund house two months ago.
Today, I got rejected. I wrote an E-mail why I was failed. They wrote that they strongly require graduates or PhDs.
I am strongly interested in what they actually do.
What kind of quantitative analysis do they do?..Are there any books which tells what quantitative hedge funds or traders do and how they create formulas?..
Strongly interested, but not enough information..
Thanks.
http://www.quantnet.com/
Read up and enjoy. I'm almost as lost as you are on this and very interested in the field as well.
The quant game is all about PhDs and programming. It's not even a finance job in the traditional sense. Quant is the big opportunity in the market today, though.
Also, some unsolicited advice for the future: If you apply for a job and you don't know what they do, you will be rejected everytime.
What fund? Maybe I can help you...
Carlton Appointments Analysis is the name. It is located in Switzerland.
There are lots of interesting hedge fund groups there. They are mostly unknown because they are small.
Even if Renaissance Technologies employs many PhDs, there are still people without PhDs.
I wonder a bit why it should be all about PhDs and programming.
@dabanobo
I would like to know some strategies and creation of it.
My knowledge could lack much because I study Ecnomics (Physics as my seconadry field).
But it would be a great opportunity to see what and how they do.
Thank you.
I don't understand. Do you literally know nothing about quantitative strategies? Did you google "quantitative strategies" and read through the results on the first page?
I know what their strategies. But what I am really interested in is how they optimize their formulas..
Maybe, it is difficult to find someone here on this board who can explain or is specialized on this field.
Which formulas?
From the outside, all you're going to get is a general description. Why would they tell you exactly what they do?
@dabanobo
I tried to write a pm. But it failed..
I thought it is difficult to find out their detailed work..Just curious..
Are you specialized as a quant?
yep, i work at a quant fund.
hey dabanobo, i'm thinking of applying to a few top masters programs this fall but given that i have not prepped at all for the gre and most app deadlines are dec. 1, would you suggest waiting till next year or cramming and trying my best? also if you could shed some light on how admissions views applicants out of undergrad in comparison to those with a few years of work experience that would be very helpful.
what is your gpa and undergrad major
3.7 cumulative, 3.9 major, joint math/econ major, 2 finance internships, no programming exp. no idea how i will do on the gre. im taking a practice test tomorrow to see if i can possibly get a decent score (730+) by test time (probably around early november). i will also have a tough course load this fall so not sure if i can pull it off
Don't apply now. 700+ is fine, but you have no programming exp. The two most important things for MFE (I'm assuming this is what you meant by masters right?) programs are math and programming. Take a prog course in C++ before you apply for next year, and get a finance job.
nice nice gl m8
hi markhobbus, i know very little about the MS/MFE programs. looks like others have chimed in for you, though i will add my $0.02 that work experience > master's experience. so only go to the master's program if you can't get a job. :)
for a FO quant job, programming is definitely key. many/most quant firms won't even give a person a look if they can't program. i'll second qweretyq's recommendation that you take a programming class. c++ is good but hard to learn; really any language is fine to get your feet wet.
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