Advice needed for career transfer from banking to trading/quant/structuring
Hi guys,
I'm a French engineer student major in Math. Last year, I decided to take a gap-year as a project finance analyst in HK. Now I'm reaching the end of my gap year and will graduate next year (2011). The director of our Math department told me that I need to land an internship/job in quant/structuring/trading to qualify my degree requirement...
Although I have learned the market finance (pricing, B-S, interest rate model, stochastic calculus, etc.) before, I do not have any on-the-job experience on it. Instead, I focused on project finance (more generally, corporate finance) last year. Therefore, I just wonder:
- How can I make a transfer from project finance/corporate finance to quant/structuring/trading within a half year?
- How can I convince the people that my project finance/corporate finance experience would help me to gain competitive advantage on those roles?
- Which position you believe is the most suitable for me to make such a transfer?
Thanks in advance!
Fabrice is that you?!?!?!!?!
well thats awkward
...... really need serious advice......
I hate to be the one to say this but you are fucked. Sorry bud.
I do not think you are f*cked as someone has pointed out. I think you have extremely relevant experience. Tell me more about your project finance (corporate finance) experience?
I will admit that I did not read the OP's post. It was just way too long. And since nobody else really responded, I could only assume the worst. Hope everything works out bud.
The project finance internship is almost the same as other corporate finance internships. The junior is in charge of building financial model, due diligence, assisting senior bankers to execute deals, etc.
I have a degree in Computer Science and am pursuing French engineer degree (major in Math). I do have knowledge on market finance but do not have much experience on it (excpect a 2-month statistical analysis internship in a boutique hedge fund).
I think there are several things you need to let us know to get good advice: - which school do you go to? - where do you want to work (France, HK, London, etc.)? - will you looking for an internship that is part of your course or a job?
You have solid internships. Your "2-month statistical analysis internship in a boutique hedge fund" is not "not much" for a student.
EuropeanBob, in response to your questions:
The internship experience defintely makes sense. However my concern is that my current internship (project finance) is not consistent with quant/trading/structuring needs... And ppl may challenge my motivation since I have done 1-year project finance rather than market finance.
Following advise is for securing Quant gigs. You have degrees in CS and Math, and have had a year-long finance project - this is a reasonably good background for an undergrad quant.
What was your concentration in CS? Have you done any significant work in algorithm development? At the undergraduate level, quant hiring comes down to whether you have a particular skill-set that the group is looking for. Now, you need to compile a list of companies that are open to hiring undergrad quants. Once you have a list, set up information interviews and discuss your credentials. You have an interesting background, and I'm sure ppl will agree to meetings. But the key point is to massage your hook to always fit the group's needs...I cannot reiterate this enough for a Quant job.
That said...here's a pitch to get you started: You are a quantitatively strong person who has a lot of experience with algorithms, and love the idea of developing algorithms that can be applied to the most dynamic setting out there - the markets. Say you've taken finance classes, but you realized there's no substitute for work experience, and so decided to take year off and actually get your hands dirty doing actual finance work. This makes you come across as a person who'se thorough (and this is very important in quant).
unqwertyfied, thank you for your pitch! Sounds reasonable and I may use this as starter. How to hook to fit the group's needs is however still my major concern...
We do not have concentration in CS undergraduate program. However I spent most of my time in Algorithms. Tried to pick them up again, it is a bit difficult to re-start learning math/cs after one year in project finance...
Crash course - read Knuth's algorithms, read The Quants - Start modeling and build a modeling portfolio, then start applying for jobs - the French part ought to help you get your foot in the door - If you are looking in the US -, JP Morgan is hiring - If looking in Canada, try banks in Toronto ---
Call some quants and interview them about what they do ---
Good luck, if your portfolio is good - door will open. ( From a former quant at Salomon Bros.)
Knuth's algorithms..... that really recalls me sth. Thanks for your guys' suggestion!
Laborum ea excepturi cumque voluptatem aut. Sit voluptas nesciunt dolorum consequatur consequatur ducimus neque. Culpa odio nisi autem earum. Mollitia quas sed recusandae.
Enim dolorum id quae iste aut. Perspiciatis ipsam voluptatem beatae quam nam repellendus velit aliquid.
Iusto repudiandae dignissimos dolor quis quia. Qui tenetur dolorem qui tempore tempore non. Nulla et reiciendis commodi vel dolor. Libero eligendi est esse velit dignissimos quia eos.
Est et unde itaque quae placeat maiores. Inventore est quod quia qui. A nam quaerat nisi eaque maxime. Autem sed fuga quia sint sit et eius. Magnam sapiente quidem ut quam consequatur esse.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...