Is a Masters or Phd practically required for quant funds?
To succeed at a place like Citadel or DE Shaw, do you need to have a math, physics, compsci, etc. grad school degree? Would you be at a significant advantage if you didn't?
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DE Shaw is hardly a quant fund anymore. they have a lot of strategies, many of them not quantitative at all. Citadel is more quant, but again, many strategies that aren't. RenTech is of course the ultimate definition of a quant fund (but not the quant such as financial engineering or "traditional" quantitative finance)
it's not clearcut. but for quant strategies, why hire the guy without a phd (unless he already has an amazing track record from somewhere else).
If you can apply C+ or C++, you stand a decent chance - you could have a degree or be self-taught.
Citadel & Shaw are multi-strategy funds and employ fundamentals and technicals as much, if not moreso than quant.
Philosopher hit the bottome line - this is an employer's job market, so why hire a guy without a grad degree when you can get a Phd/MS for the same price?
A ‘quant’ is usually a quantitative analyst. One becomes a quantitative analyst mainly by two ways: - Get an advanced degree in a relevant area. - Be outstanding at another place, transition into quantitative analyst job. Undergrads won’t be doing any heavy quant shit. If you’re brought into a quant fund straight from UG, you’re going to be prop trading/generalist/investment analyst.
http://nvmnd.wordpress.com/ NVMND.
in short...yeah.
I am just curious on this...so are the PhDs usually in something like Econ/ Math/ Statistics/ Computer Science? Or are they in things like Chemistry, Physics, Phycology, etc.?
Math, Stat, Physics. Things that are hardcore numerical analysis where you use a lot of equations, derive or create equations or deal with huge data sets. No Finance, no economics, definitely do not get an MBA if you want to be a quant.
Jobs that require PhD? (Originally Posted: 07/06/2011)
Hi there,
What are some jobs in Finance that require PhD? Quant trading?
Most people at banks who work on assessing the credit risk of the bank have a PhD.
Within finance the quant road is the most obvious if you have a PhD. But it has to be a quantitative one (math, physics, OR etc.). For inspiration read this http://www.markjoshi.com/downloads/advice.pdf.
If you have an econ PhD on the other hand you can go into research.
Yep, you either go quant or you go into research. You'll see a lot of them in AM too though, most pm's at Templeton for example are PhD's but I doubt its a requirement.
Bank / Fund economists have PHDs in Economics. Quants have PHDs in all kinds of shit... particularly at HFs like Ren Tech, etc, where people have PHDs in Physics, Math, Biology... you name it (as long as it's from MIT or Harvard)
Quant Career and Phd (Originally Posted: 02/17/2011)
Hi, I will finish my BSc at age of 25 and then later I will start my Phd and will finish by age of 30.I had several issues in my Bachelors due to which I got late.I want to know that is 30-31 a bad age to start quant job in London.I can also do MSc and start and 28,what do you think is better?Also tell me that is it better to do Phd in Financial Math field or filed like Stochastic Modelling/Mathematical Physics etc?I will appreciate your help.
what is your bsc in?
My BSc is in Math from Melbourne uni and I can do Phd from either Adelaide uni or Melbourne uni.Adelaide uni is good in Mathematical Physics applied to Finance and Stochastics, while Melbourne uni has few Probability people who do research in Financial Math.Which uni do you think I should choose for Phd.
Nassif Nabeal
http://quantnet.com/
would help you better every 1 here is a religion major who leans to the far left(look up the use "ant" he is known as a strong liberal and then there is emf he is supppper liberal it is bc they have religion degrees and dream of making hte irs stronger )
Blastoise, I think its past your bedtime dude...
Bad idea posting your name dude
What can some of the repercussions be for being identified on this site?
Quantnet's a good place to look, but I just have to say that I'm not 100% behind the idea of a PhD unless it's absolutely necessary or the OP really wants to do one.
You can do 95% of what you can with a PhD if you get an MFE and spend 4 years in industry instead.
Agreed. I was at a quant firm before where I am now, and I had PhDs in my group and MFEs. We got paid the same at each level. A PhD is overkill for almost everything in finance. The only places where you probably NEED a phd is rentec or de shaw's quant groups.
I agree with the above, except I would even go so far as to say that a PhD is never going to be absolutely necessary. Don't do a PhD for the sake of career progression, because there are better options, period.
lol people still think quants will be where its at in 5 years time? Big gamble. Usually once you've seen the boat you've missed it. Bond traders say hi.
Ehh, with an Econ PhD and the fact that econ professors have always enjoyed sub-2% unemployment rates, an Economics PhD has a lot of backup options.
Still think getting a PhD is stupid if you don't want to go into academia.
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