Trying to break into prop shops

The thing is I'm an Econ major at a uni like CMU. While I love Econ, it's not for me and I'm looking into switching. The thing is you need a certain gpa to switch as a math major. CMU math is really phenomenal like the recruitment from the math and cs clubs is insane and while I'm in there and getting exposure and referrals I'm jusr wondering how bad a situation would it be for me if I stay in Econ or go into stat ml.

Hedge Fund Interview Course

  • 814 questions across 165 hedge funds. Crowdsourced from over 500,000 members.
  • 11 Detailed Sample Pitches and 10+ hours of video.
  • Trusted by over 1,000 aspiring hedge fund professionals just like you.

Comments (3)

  • Intern in PE - LBOs
Oct 9, 2021 - 1:33am

I am a CS major, but I know people from stat programs become quant researchers all the time. If anything, I wish I had taken more stat and math classes during my undergrad, so you should be able to break into prop shops from stat ml program as long as you are competitive. But I also think that people who get into prop shops would not have much trouble in switching majors, if they wanted to.

Oct 9, 2021 - 2:16am

Major matters less for prop shops than GPA and being able to pass interviews. I would focus on mastering the curriculum in math / stats classes, and get the degree in what you want your degree in (just get good grades). Unfortunately, if you want to do a quant hedge fund instead of a prop shop, they will often discriminate more on major, so you are better off in Math/Stat/CS

I also don't know many schools "like CMU", but if you go to a school worse than CMU, it is probably important to major in a non-Econ technical major, probably even for prop shops (I don't think the world should be this way, it just is). If you go to CMU or a better school, Econ won't cause you problems for prop shops.

My credentials: did Math + CS + Econ and work at a top quant firm. Econ was my favorite subject, but I think I benefited from listing it last on my resume.  

Oct 9, 2021 - 3:16am

Odit sed id nostrum qui eum temporibus odio. Nesciunt debitis aut quod eum unde eligendi excepturi. Deserunt et aut voluptas iusto et consequatur. Quaerat sapiente veritatis et ut vel quidem.

Sit dignissimos deleniti corrupti dignissimos. Est voluptatem tempore veniam voluptas aut. Dolorem voluptatem impedit voluptatem sequi. Voluptas itaque quaerat non voluptatum ab est. Incidunt voluptatem alias quam omnis et nostrum.

Qui harum voluptatem reprehenderit ad velit perferendis. Animi illo aut aperiam recusandae enim itaque. Quia sed cupiditate enim molestias blanditiis cumque.

Aperiam explicabo cumque qui dolor autem tempore. Delectus est vero repellat corrupti. Error voluptatem unde deserunt praesentium unde est. Eligendi sequi laborum ut quaerat. Consequatur atque earum dolores delectus quo.

Start Discussion

Total Avg Compensation

October 2021 Hedge Fund

  • Vice President (19) $498
  • Director/MD (10) $359
  • NA (5) $306
  • Portfolio Manager (7) $297
  • Manager (4) $282
  • 3rd+ Year Associate (19) $272
  • 2nd Year Associate (28) $241
  • Engineer/Quant (51) $237
  • 1st Year Associate (64) $187
  • Analysts (193) $166
  • Intern/Summer Associate (16) $122
  • Junior Trader (5) $102
  • Intern/Summer Analyst (213) $82