FX/interest rates structuring : COURSES (math or programming)
So I'm dead set on starting my career in either FX or Interest rate structuring (exotics).
One thing I am certain about is that FX/Interest rate structuring is very quantitative. But this is where I am uncertain: 1. The degree of quant needed (Is it necessary to understand stochastic calculus or do I just have to be good with numbers?) 2. The degree of coding needed (Is it essential to know other programming languages besides VBA Excel?)
To get to the point, which math/computer science college courses do you think would be most beneficial for a role in FX/interest rates structuring?
Please be as specific as possible.
I'm looking forward to all your responses! (especially FXTrader, Jimbo, untilted , Revsly and other industry professionals)
Need to know Matlab for sure
Ahh thanks, alright I'll be considering courses like numerical analysis etc.
Based on my experience in interest rates structuring:
My team consist of half econ and half engineering backgrounds, and stochastic calculus is definitely not a prerequisite. But the advice is to take as many probability courses as possible since it difficult to find any time to pick up such skills once you start working. My own background is M.Sc. Engineering in mathematical finance. So, it is not necessary but it is definitely good to have that knowledge.
Programming is basically only VBA. I have not touched MATLAB since I graduated. Quant's build most of our pricing models so they do the heavy programming stuff while we focus on pricing and to come up with innovative trading ideas. Significant interaction with sales, traders and quants.
What's your degree? I'd say that the most beneficial courses are anything probability-related.
First post on the forum, hope it can be to some help. I remember it was difficult to find information about structuring when I did my own research.
I've noticed that each bank seems to have their own way of breaking up the roles for structuring. Yours sounds like a hybrid sales role. Does the structuring desk generally have its own quasi sales team?
thanks for the informative post snoot! Just a few clear ups:
I ask this because in some job posts for FX/rates structuring, they seem to ask for "excellent programmign skills in C++,Java) whereas for some, they just mention "excellent quantitative skills" and do not mention anything about programming. Note, these descriptions are both for the same jobs (FX/rates structuring). Are there timesi n structuring when programming is essential?
Programming is a good skill to have and to be honest, I do not know of anyone being proficient in VBA without knowing C++/Java/Python. Maybe someone else can tell you about desks where it is essential to know C++/Java.
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