Getting an Interview at Trading Firm
Hello, I am a junior at very good but not elite CS, Math, Stats, Data Science university (in the range of semi-target to not a target depending on who you ask) that surprisingly has really good placement for trading positions albeit with most of the students being CS majors. I am studying data science as I thought it was a much more rigorous major and didn't realize it didn't go as heavy into math and stats as I originally thought. I got a B in Calculus I, A in Calculus II, and A in Calculus III along with an A in a higher level Stats class, mostly As in all the technical Data Science classes and got a 330 on the GRE (166 Q, 164 V) with a 3.7 GPA. Will I have a solid chance of getting interviews for a Quant Trading role (SIG, Optiver, Citadel, etc) for a full time offer without previous trading experience right out of undergrad or would it be better to pursue a masters in statistics or financial engineering directly out of undergrad. I didn't get past resume stages for internships this previous recruiting cycle so I am wondering if taking the additional math courses (Calc II, Calc III, high level Stats course) + GRE + internship at a Fortune 200 company would give me the boost needed to make it to the interview stage this coming recruitment season for FT offer.
Based on the most helpful WSO content, here's a breakdown of your situation and some advice on how to proceed:
Academic Performance: Your grades in calculus and statistics are strong, which is a good sign as quantitative trading firms value mathematical ability. Your GPA of 3.7 is also competitive.
GRE Scores: A 330 GRE score with a quant score of 166 is impressive and demonstrates strong quantitative skills, which is crucial for quant roles.
Major: Data Science is a relevant field for trading firms, especially if you have a focus on technical classes. However, you mentioned that it doesn't go as heavy into math and stats as you thought. It might be beneficial to supplement your education with additional math or stats courses if possible.
Internship Experience: An internship at a Fortune 200 company is valuable, even if it's not directly in trading. It shows that you have work experience and can function in a professional environment.
Recruitment: Not getting past the resume stage for internships could be due to various factors, such as the level of competition, your resume not highlighting your strengths effectively, or a lack of networking.
Advice for Getting into Quant Trading:
Networking: Reach out to alumni or professionals in the industry. Networking can often help get your resume noticed.
Highlight Relevant Skills: Make sure your resume and cover letter highlight your quantitative skills, relevant coursework, and any projects or competitions that demonstrate your interest and ability in trading.
Prepare for Interviews: If you do get interviews, be prepared for mental math tests, probability questions, and to discuss your thought process. Firms like SIG, Optiver, and Citadel are known for their challenging interview processes.
Consider a Master's: If you're not successful in landing a trading role straight out of undergrad, a master's in statistics or financial engineering could enhance your profile. However, it's not strictly necessary if you can demonstrate your quantitative skills and interest in trading effectively.
Self-Directed Learning: Continue to learn and practice on your own. This could include trading simulations, coding projects, or participating in relevant competitions.
Apply Widely: Don't limit your applications to just the top firms. Apply to a broad range of trading firms to increase your chances of landing an interview.
Remember, persistence is key, and each application and interview is a learning opportunity. Good luck!
Sources: https://www.wallstreetoasis.com/forum/job-search/qa-undergraduate-quantitative-trading-decision-process-advice?customgpt=1, Poor academic performance early on from low tier semi-target —> quant options analyst at reputable fund (story)., I'm Trying to get into Prop-Trading From a Non-Target School, https://www.wallstreetoasis.com/forum/school/dilemma-quantitative-finance-vs-finance?customgpt=1, MIT vs. Princeton vs. Yale undergrad for quant hedge fund
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