Good Major For Quant?
The question is basically in the title. The Major in Economics with a specialization in Data Science from UChicago: http://collegecatalog.uchicago.edu/thecollege/eco…
Let me know what you think - thank you!
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I can't comment on this program, as I simply don't know. However, the majority of quants have a Master or Ph.D., and it's difficult to get a quant job as an undergrad.
I saw on Handshake that Citadel, D.E Shaw, AQR, etc. all recruit undergrad "Quantitative Researcher" roles or even "Fundamental Equity", so I think it's possible - not fully sure though.
They do, but you better make sure you're one of the smartest undergrads in the country, to even be considered. Go on LinkedIn and search for quants at firms you're interested in and look at their education; you'll see patterns, and this is the most likely route to becoming a quant.
Also, search here of quantnet for forums on how to become a quant, they're quite helpful.
Its definitely possible with undergrad. That being said, the more quantitative your major, the bigger advantage you will have in landing interviews, so econ would be suboptimal vs say math or computer science.
Do you think this also applies for roles like D.E Shaw Fundamental Equity Analyst and Citadel Global Equities? These are more fundamental discretionary roles but at quant funds and are more what I am asking about - should have specified that.
Why do you specifically want to work in discretionary roles at quant funds, if I may ask?
I've always had more trust in my fundamental analysis abilities than my advanced quantitative abilities, but I've always been fascinated with the quant side of investing. By quant, I don't mean HFT and market-making but rather QR type analysis that a medium term - long term focused quant fund would run. I think JP Morgan called this 'quantimentals' in some report they did, and I guess that'd be a good word to describe my interest.
OK makes sense. As someone who's also interested in both but who comes from a quant background. There is generally very little respect from STEM people towards non-STEM people when it comes to their ability to make mathematically rigorous analyses. Usually this is justified.
Economics plus "data science" is just a catchphrase. Unless you're at least fluent in pandas, sql, and other programming languages you're not a data scientist. You're just someone who can read graphs.
If I understand correctly what quantimentals is (fundamental investing based on large amounts of fundamental (alternative) data) I would prefer an education in computer science and statistics. This however may not be the education that necessarily gives you the highest chance of landing a job now ( I'm not in a position to give you soli advice on that)
I will probably get MS'd for this by butthurt finance boys for this but in general there are a lot of STEM people who can do what non-STEM people do but not the other way around.
I can go more in depth on some points if you'd like that.
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