After two majors, the marginal return of having additional majors really goes in the toilet. You could definitely better allocate time if you want to maximize your shot at quant.
add a fifth major to understand diminishing marginal returns
in all seriousness, you will be seen as incredibly smart and diligent if you just pick those three majors (Comp. Sci, Math, and Data Science). I understand you have those credits to use so that makes sense. Those three majors is enough to get interviews. Adding a fourth major, is diminishing marginal returns because there is an incredibly small benefit, but a significant extra cost of time needed for that fourth major. Its actually a negative marginal return if you ask me if you factor into opportunity costs. You can use that time saved by not doing that fourth major to prepare for a career, which will be more effective.
He shouldn't need to elaborate on common sense. Cut a couple majors and spend that time grinding prep for the interviews instead. Or ignore me and add on a fifth major
Can you help me understand then? I am a freshman trying to gain an understanding of what I should be doing over the next 4 years to give myself the best shot at success.
No quant myself but I’d start networking, talk to people to get an understanding of their approaches / work (as much as they’re willing to share), build your own models / data sets, backtest them, let live data run through it and check your hypothesis etc.
Don’t just grind theoretical frameworks but get into the trenches.
Well Jane Street is not a hedge fund so there's that.
But in all honesty networking doesn't matter, just do well on the Putnam and make sure you're doing exceptionally well in your math/CS coursework. Coming from UW is a hurdle, mostly because it doesn't point to patterns of sustained excellence (ACT/PSAT/Nat'l Merit are meaningless since the rigor/concepts are trivial). To get a look you need some national recognition, be that through Putnam performance, Kaggle, datathons, etc. You'd have an easier time leaning into CS and getting a dev seat rather than a QR seat given your background.
Also, the attitude that you're a lost genius who's misunderstood and got stuck at UW despite being the smartest person in the room is not very becoming.
Transfer if financially possible, study greenbook and other quant guides and make sure to know stats well. Study CS and Math or Stats. Just grind for interviews and you will be fine lol, will be much easier from a top school to get interviews tho
Respectfully, no fucken shit it’s worth it 😂. I transferred to a t10 and no quant firm has said a word about it lol only time they even ask about school life is behavioral in phone round or final round. So transfer and get above 3.5
All prop firms pretty much put their candidates thru the same interview process. Unless your application is getting desk rejected (unlikely given your description of your education), you're on the same level playing field as kids attending Harvard. There's plenty of posts on the forum about how to prepare for the jane street interview process.
This forum will not be helpful to you. I’m a quant/trader at a bank and can answer some questions if you have specific ones. Head over to QuantNet for real info. Also there is less of a prestige element in quant but coming from a non ivy/MIT/S/Caltech/CMU/GT will make it a bit harder. If I were you I’d target smaller Chicago trading firms/market makers as there are a ton and geographically it will be easier. Get an internship at a 3rd/2nd rate firm sophomore year and try and go for the big guys junior year.
Someone else mentioned IBC - they have a pipeline where hedge fund alumni hire sophomores out of IBC (not exclusively, but it's certainly the majority), so that could be a pathway. Not sure if this is still relevant for you depending on your year, but if IBC isn't the route, I would network with former alumni that founded hedge funds. Ricky Sandler used to teach a class remotely every other semester, so the presence is there. PM for additional names, etc.
I'd follow some quants on fintwit to get sense of practical application. @wifeyalpha @nope_its_lilly @INArteCarloDoss, idk many more than that, I followed them tangentially from they something tweeted that I agreed with. I would read through their tweets (I think wifey has threads on AQR research/white papers for quant stuff), and try to recreate portfolio/backtesting models etc. Also see who they interact with for broader base of quant people. That could give you some ideas to start.
Just think in back of your head of projects you could do on the side - even just to include on your resume that would have key words to get past resume screeners
Edit: Idk much about quant Im on the SS so maybe Im off. But I from non-target background too and this is something I wish I was told from the start.
Wifey is a pseudo quant who failed at investment management at a tiny boutique. No qualification in mathematics, comp sci whatsoever. He was exposed last year or so. Find better accounts to follow. It's so weird that everybody tries to call themselves quant these days on the internet when they're not lol.
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After two majors, the marginal return of having additional majors really goes in the toilet. You could definitely better allocate time if you want to maximize your shot at quant.
del
add a fifth major to understand diminishing marginal returns
in all seriousness, you will be seen as incredibly smart and diligent if you just pick those three majors (Comp. Sci, Math, and Data Science). I understand you have those credits to use so that makes sense. Those three majors is enough to get interviews. Adding a fourth major, is diminishing marginal returns because there is an incredibly small benefit, but a significant extra cost of time needed for that fourth major. Its actually a negative marginal return if you ask me if you factor into opportunity costs. You can use that time saved by not doing that fourth major to prepare for a career, which will be more effective.
He shouldn't need to elaborate on common sense. Cut a couple majors and spend that time grinding prep for the interviews instead. Or ignore me and add on a fifth major
You are clueless. Womp womp
Can you help me understand then? I am a freshman trying to gain an understanding of what I should be doing over the next 4 years to give myself the best shot at success.
Step 1 - transfer asap, nearly impossible from UW
join IBC
bro as my id states I don’t know anything about quant but it really is a bad idea taking more than 2 majors in college.
No quant myself but I’d start networking, talk to people to get an understanding of their approaches / work (as much as they’re willing to share), build your own models / data sets, backtest them, let live data run through it and check your hypothesis etc.
Don’t just grind theoretical frameworks but get into the trenches.
Well Jane Street is not a hedge fund so there's that.
But in all honesty networking doesn't matter, just do well on the Putnam and make sure you're doing exceptionally well in your math/CS coursework. Coming from UW is a hurdle, mostly because it doesn't point to patterns of sustained excellence (ACT/PSAT/Nat'l Merit are meaningless since the rigor/concepts are trivial). To get a look you need some national recognition, be that through Putnam performance, Kaggle, datathons, etc. You'd have an easier time leaning into CS and getting a dev seat rather than a QR seat given your background.
Also, the attitude that you're a lost genius who's misunderstood and got stuck at UW despite being the smartest person in the room is not very becoming.
del
Transfer if financially possible, study greenbook and other quant guides and make sure to know stats well. Study CS and Math or Stats. Just grind for interviews and you will be fine lol, will be much easier from a top school to get interviews tho
del
Respectfully, no fucken shit it’s worth it 😂. I transferred to a t10 and no quant firm has said a word about it lol only time they even ask about school life is behavioral in phone round or final round. So transfer and get above 3.5
All prop firms pretty much put their candidates thru the same interview process. Unless your application is getting desk rejected (unlikely given your description of your education), you're on the same level playing field as kids attending Harvard. There's plenty of posts on the forum about how to prepare for the jane street interview process.
This forum will not be helpful to you. I’m a quant/trader at a bank and can answer some questions if you have specific ones. Head over to QuantNet for real info. Also there is less of a prestige element in quant but coming from a non ivy/MIT/S/Caltech/CMU/GT will make it a bit harder. If I were you I’d target smaller Chicago trading firms/market makers as there are a ton and geographically it will be easier. Get an internship at a 3rd/2nd rate firm sophomore year and try and go for the big guys junior year.
Step 1 - Way too easy to identify, especially with easy username confirmation
Someone else mentioned IBC - they have a pipeline where hedge fund alumni hire sophomores out of IBC (not exclusively, but it's certainly the majority), so that could be a pathway. Not sure if this is still relevant for you depending on your year, but if IBC isn't the route, I would network with former alumni that founded hedge funds. Ricky Sandler used to teach a class remotely every other semester, so the presence is there. PM for additional names, etc.
I'd follow some quants on fintwit to get sense of practical application. @wifeyalpha @nope_its_lilly @INArteCarloDoss, idk many more than that, I followed them tangentially from they something tweeted that I agreed with. I would read through their tweets (I think wifey has threads on AQR research/white papers for quant stuff), and try to recreate portfolio/backtesting models etc. Also see who they interact with for broader base of quant people. That could give you some ideas to start.
Just think in back of your head of projects you could do on the side - even just to include on your resume that would have key words to get past resume screeners
Edit: Idk much about quant Im on the SS so maybe Im off. But I from non-target background too and this is something I wish I was told from the start.
Wifey is a pseudo quant who failed at investment management at a tiny boutique. No qualification in mathematics, comp sci whatsoever. He was exposed last year or so. Find better accounts to follow. It's so weird that everybody tries to call themselves quant these days on the internet when they're not lol.
delete
Doloribus doloribus beatae ut quam consequatur nemo. Neque ea est rerum explicabo.
Optio aperiam sed enim ab. Accusamus soluta ipsum deserunt vitae suscipit. Laboriosam dignissimos amet quasi rerum et rerum perspiciatis. Doloribus impedit et commodi ea assumenda corrupti laudantium autem. Deleniti suscipit doloremque magni commodi quo. Eos dignissimos quasi est qui tempora explicabo. Fugiat distinctio laudantium quod facere.
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Ut dolore non delectus eius qui ipsum voluptatem. Ab quaerat tenetur aut consequatur suscipit numquam. Sit dolore quisquam accusantium consectetur.
Omnis voluptatem non blanditiis mollitia voluptates. Non libero neque sint aut facilis aut ut. Eaque optio nihil at aut eos possimus et. Qui saepe nobis eum qui quia. Nobis neque similique eos quasi ut quaerat. Officia alias est tempora accusamus.
Exercitationem et odit in quae. Exercitationem quibusdam itaque cumque at et quis ea. Explicabo omnis at suscipit dicta est quis.