I am a statistician, how to get a job as quant/trader/analyst

I have done 5 years in statistics in university and now I am a statistician in a betting company. I always want to get a job in IB. But I dont have much background in finance. which position is more likely for me, quant/trader/analyst? What help do I need?

I look forward to your advice. Thank you in advance.

12 Comments
 

what kind of stats and what kind of modelling? I suspect that a position at a betting firm would be more discrete choice modeling and computation of spreads, as opposed to the type of time series focussed models you might see in finance.

It depends on what you want to do. If you really enjoy the math and modeling you may want to consider a more quant focussed role. If that is what you want then instead of an MBA you could consider a masters in financial engineering. To my limited knowledge, every school offering the program requires a GMAT score for admission to the program. Good luck man, or woman as the case may be.

"God takes care of old folks and fools, while the Devil takes care of makin all the rules", P.E. 1998
 

Thanks for all your advice.

My job is mainly the probabilites and combinatorics. I have done many statistical modelling and have some understanding in time series in university. I would not consider MBA at the moment. Quant is my ideal role.

I dont wanna do another master again as I already have a master in statistics. I just wanna learn some basic finance knowledge by myself. Any advice for me? what kind of knowlege is essential for a quant entry level? Or any good book reconmmended?

Thanks

 

depends what sort of desk you want to join, but i'd think you're looking at a more advanced degree in order to get a quant job.

 

I think there is a difference between finance and coming up with mathematical trading strategies. Don't HFs employ physics/stats/math PhDs all the time for setting up models?

In any case, I don't think finance is something that you can just pick up on your own

 

niles is right finance is not very easy to pick up on my own. But I dont think a one year master can pick up much though. The best way is to get a job in any bank, ideally IB so that I can learn at work.

 
Best Response

"I just wanna learn some basic finance knowledge by myself. Any advice for me?"

rainyfree, while i am still a student and relatively new to the game, i have met a number of people in situations similar to yours. based on my limited knowledge, i would recommend you to sign up and study for the CFA (www.cfainstitute.org). if you are interested in studying on your own, this may be the best decision for gaining a rudimentary finance-related background, especially if you are interested in becoming a quant. take my advice with a grain of salt and ask others around whether this would be the wisest decision for you at this point in time relative to your opportunity costs before signing up for the exam. you may also want to check www.nuclearphynance.com when you get a chance. hope that helps. -panda

 

Expedita nam fugiat praesentium odit. Quod sint tempora commodi non non. Ut cum quo beatae deserunt omnis in.

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