Programming languages in finance
I know most firms use python for data analysis. I’ve also heard of C++ being used. Are there any other languages that are helpful to know? Also curious if there are any good online programs for learning how to code.
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The major ones I know of are python, R, and Matlab
R is solid
In order of usefulness I'd say SQL, python, R/Matlab, potentially SAS.
SQL is super useful because most other languages (Python, R, SAS, etc.) will allow you to use SQL syntax within them. Its as close as I've found to a universal language.
You'll only use SAS if your boss was statistically educated before like 2005 lol (so think mostly old, big banks). That being said if you know SAS, and someone needs it, it will make you incredibly valuable. Its a rarely used language, but even more rarely learned these days.
OP Please don’t learn SAS. Not as your primary skill at least. The people who do their work in SAS at my company create so many headaches because they refuse to adopt modern tech stacks and expect us to fit it into our pipelines and frameworks.
End rant but please everyone stop using SAS so we can move forward with spark and live happily ever after
not that I don't agree with you on SAS headaches, but it's the best commercial software with vetted methods. Ie: open source python vs statisticans-reviewed software. There's a reason why pharma/finance companies (mostly mortgage/credit capital markets folks) use it, cause the cost of a mistake is too high compared to other industries
I totally agree with you, but like I said, big old banks still use it and if a hiring manager needs it, they need it.
Knowing SAS got me hired out of the back office at a regional commercial bank, and into the front office at a MS/JPM/GS bank.
Again, not saying OP should learn SAS, but it paid off for me.
How have you liked your career/current position? I’ve thought about looking back towards finance for niche roles where my skills from data engineering could be lucrative. Do you see people often getting plucked out of tech to fill roles like yours?
Mods please delete if this is considered thread hijacking, not my intention to derail.
I do like my current job! I work in macro research covering an entire asset class for one of the aforementioned banks. There's a good mix of data/quantitative problem solving as well as complex economic/financial ideas in our work.
That being said, I would feel dishonest if I didn't mention its a ton of hours for not much pay. We don't get paid anything like our IBD or S&T counterparts. I generally put in 60-75 hours a week. Also a high stress/tough culture. Eventually, I'll probably leave for better pay, better hours, or both.
I've seen one person make the jump from a tech team within my bank to research, but not sure I've ever seen someone make the jump from the general tech industry to a team like mine. It can probably be done, but I think most people would be too turned off by the lifestyle change to really pursue it. We tend to mostly get people from grad school stats/econ/finance type backgrounds, or transplants from trade desks. I came from a risk team (hence my title on WSO lol, still haven't updated it).
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