Recently graduated PhD can't find a job

Dear all,

I am preparing for the next recruitment cycle and have a list of tasks to tackle but would appreciate advice on which could be the most beneficial for prioritization.

  1. I have 3 papers under preparation, mainly focused on biomechanics, which are not directly relevant to the Quantitative Researcher role. Does unrelated papers matter for a QR role?
  2. I am participating in Kaggle competitions to demonstrate my machine learning skills.
  3. I am still searching for internships in this summer, though it seems to be an impossible task at this moment.
  4. I just completed the CFA Level I exam in February and am quite confident about passing. I could start preparing for Level II and aim for the August exam. However, I wonder if this will help me with a QR role.
  5. I solve 5-10 LeetCode problems and some probability problems daily.

I am looking forward to any insights that could help me navigate this challenging period effectively. Thank you very much.

 

Hard to answer these questions because I don't know. I see myself as a qualified QR but companies may disagree, at least my job hunting experience said this. I have a solid math background, a solid computer science background, and I also get myself familiar with finance and the financial market through the CFA program. I am now focused on showing my abilities, which is why I am posting here. I do need to make sure I am taking the best possible path.

 

Navigating the job market, especially in highly competitive fields like quantitative research in hedge funds (HFs) and proprietary trading shops (prop shops), can indeed be challenging. Based on the most helpful WSO content and insights from the WSO Dataset, here are some tailored suggestions that might help you prioritize your efforts and enhance your profile for quantitative researcher roles:

  1. Kaggle Competitions: Participating in Kaggle competitions is a great way to demonstrate your machine learning skills. It's not just about participating, but also about ranking well in these competitions. High rankings can be a strong testament to your practical skills in machine learning, which is highly relevant to quantitative research roles. Prioritize this, as it showcases your ability to apply theoretical knowledge to real-world problems.

  2. LeetCode and Probability Problems: Solving 5-10 LeetCode problems and some probability problems daily is excellent practice. Quantitative roles often require strong coding and problem-solving skills, particularly in algorithms and data structures, as well as a solid understanding of probability and statistics. This practice not only prepares you for technical interviews but also sharpens your skills, making it a priority.

  3. CFA Level I and Preparing for Level II: While the CFA certification is more traditionally associated with roles in asset management and investment analysis, the knowledge gained can still be valuable in understanding financial markets, which is beneficial for a quantitative researcher. However, given your technical background and the specific requirements of quantitative research roles, this might not be the highest priority unless the roles you're targeting specifically value the CFA designation.

  4. Publishing Papers: While your current papers on biomechanics might not be directly relevant to quantitative research, they demonstrate your ability to conduct research, which is a critical skill for a quantitative researcher. Consider prioritizing this lower than Kaggle and coding practice, but it's still worth completing the papers for publication. It shows commitment to research and the ability to bring projects to completion.

  5. Searching for Internships: Although it's challenging, especially with timing, don't give up on searching for internships. Practical experience, even if it's not directly in a quantitative research role, can be incredibly valuable. It provides you with real-world experience, networking opportunities, and possibly a foot in the door. Consider this as a parallel task that doesn't take away too much time from your primary focus areas.

  6. Networking and Resume Review: Not mentioned in your list but highly recommended. Networking can play a crucial role in job searches. Reach out to alumni, attend industry conferences, and connect with professionals in your desired field on LinkedIn. Additionally, consider having your resume reviewed by professionals in the field to ensure it highlights your strengths and relevant skills effectively. This could address the issue you suspect with your resume not passing screenings.

Remember, persistence is key. The job search process, especially in niche and competitive fields, can be daunting and time-consuming. Keep refining your skills, expanding your network, and staying updated on industry trends. Your unique background can be a strength, offering a diverse perspective to potential employers.

Sources: So you want to be a Quant?, Q&A: From Pizza Delivery to Quantitative Research/Data Science/Programming, Qualitative vs Quantitative RE roles, 2016 APD/ADC MBB Full Time Recruiting Updates, So you want to be a Quant?

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

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