Quant trading from Wharton?
I’m an incoming freshman at Wharton and while I’ve always wanted to work in hedge funds, over the last few months I’ve realized that Quant Trading is probably a better long-term place to be than fundamental investing and is something I have the skill set to do well in. However, from what I understand there is almost no quant recruiting at Wharton, and since it was my ED school I don’t really have options. Is this career path something that can be done, or is it better to focus on the fundamental side of things. I was thinking concentrations in finance and stats with a minor in math.
Quant trading is 100% merit driven. Doesn’t really matter what degree you have (although I’m sure they would prefer to see math, CS, physics) as long as you are able to successfully complete the preliminary problem sets you are given. I’ve had friends from state schools land spots at quant shops. Coming from Wharton, especially with a math minor, is more than fine to get into most places. I would recommend doing several side projects related to the area you hope to break into so you can showcase your ability. Bottom line is that yes you can break into quant trading regardless of your degree. If you’re good enough, they will hire you. Best of luck
Alright, thanks.
Also completely untrue that there is no quant recruiting from Wharton…if you go on LinkedIn there’s a solid amount of people. Not really sure how you got that impression.
Not a quant so take this with a grain of salt. Why not double major in finance and physics/math/CS to hedge your bets.
Very hard to do at Penn unless admitted to a dual degree program, which I did not apply to. The most feasible would be math, and that is unlikely without summer courses.
Probably tanks your gpa too huh?
Again not a quant trader but man from my friend that are in it —> it’s probably one of the driest jobs on wallstreet. Fundamental is much more interesting. There are the meetings, the earnings calls, meeting with management, debating with the sellside, speaking to industry thought leaders, travel, the story, the major debates… just my 2 cents.
Goodluck
Lol, I'm a Wharton freshman majoring in math. Want to talk in DMs or something?
For trading focused roles in quant trading like Jane Street/Optiver I think a finance degree should be fine if you are strong at basic math and can do some coding. For more research oriented quant roles like algo developer at HRT it may be more difficult unless you can show that you have an unusually strong quantitative background for a business undergrad.
While I wouldn't necessarily discourage exploring quant trading I'm not sure I would agree that is a better long-term place than fundamental investing for most university students especially if you are attending a top business school. While roles at the top firms like Jane Street are certainly quite attractive they are also extremely competitive and in my opinion there are relatively few desirable roles in quant trading. Compared to fundamental investing or banking exit options are generally somewhat limited. You are also far more likely to be successful at doing something you like so I would recommend trying both quantitative and fundamental roles if possible before deciding to only pursue quant trading.
There are also some relatively quantitative S&T roles at banks if that is of interest to you although in 2024 S&T at banks may not be the most desired option compared to top trading firms or hedge funds.
Thanks for the perspective.
To bounce in what people already said:
If you’re in Wharton and actually are good at math, apply for M&T Program
QT is more engineering/math than finance at the end of the day, so try to get in that
If not, don’t minor in math, major in it or CS
no one cares about minors. You’ll learn a lot more in a major
Wharton is a great spot, you can combine it with even better stuff thanks to everything available at Penn.
Other things to know, do you like equities or macro. Very different and offer very different paths. Think more about that first.
And lastly, f**** enjoy school, you’re not even there and stressing about what you should study to get the right job in 4yr. Go out, meet people, make friends, and enjoy. You’re in a great spot, don’t over think it. If you do, in 4/5yrs you’ll come to regret it big time.
Thanks for the advice. Transferring into M&T is very, very competitive and may then require an extra year to meet graduation requirements, and I definitely don't want to spend an extra year in undergrad. Penn also makes it very hard to do dual majors across schools - trying to do a math or CS degree along with Wharton would require overloading my schedule and/or summer classes, which isn't horrible but not really preferred either. In terms of being "good" at math it's hard to say - calc 3 and diff eq were easy A's for me in hs, but I have zero competition math experience so its hard to make a direct comparison with others.
As to everything else - definitely equities. Macro is interesting, but I can't see myself enjoying it as a career. And your last point is partially why I posted - I plan on rushing and there are some clubs/orgs I want to join, but trying to transfer into M&T or doing a math or CS double major would make it harder to have time to actually enjoy college. I was hoping to see if quant trading was possible for me without having to dedicate all my free time towards a second major. I appreciate the advice and reality check about not regretting things down the road.
Hey, also an incoming Wharton student. How’s Wharton been so far in terms of quant? What’s your majors, any minors?
dm me. I’m assuming you just got in ed?
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