I'm a late 20s analyst in systematic strategies (risk premia, alternative beta) at a fund in NYC. I'm considering moving to Chicago due to the increased affordability and viability of raising a family in the city proper. However, I'm concerned about the breadth of opportunities in Chicago and whether the city's hedge fund industry is growing or shrinking. Outside of Magnetar, Balyasny, and Citadel (whose NYC headcount keeps growing more than Chicago's), I don't know of any other non-prop shop firms in the city with quant funds. I understand that nowhere will have the number of opportunities as
20 Aug 2020
I mostly want to know what I can expect from this conversation. Also, if anyone could collaborate on the the JPM Quantitative Analytics Internship Program or the JPM Asset Management Internship Program (can't post links), that would be great. Thanks.
26 Oct 2020
List of Companies hiring interns/full-time quants INVESTMENT BANKS Bank of America Merrill Lynch Barclays Capital BNP Paribas Citigroup Centerview Credit Suisse Deutsche Bank Evercore Goldman Sachs J.P. Morgan Jefferies Lazard Moelis Morgan Stanley Nomura Piper Jaffray Qatalyst Societe Generale UBS HSBC Royal Bank of Canada Wells Fargo William Blair Asset Management Bank of New York Mellon BlackRock Guggenheim Partners Oxam PIMCO TD Securities Wellington Management Putnam Investments Neuberger Berman Wellington Capital COMMERCIAL BANKS Commerzbank ING Royal Bank of Scotland Standard Chartered
17 Oct 2016
Sorry for the long post, I have a lot of questions. Even if you only answer one question or clarify one point, it'd still help me tremendously. This is basically what I know (skip this paragraph if you want to get to my actual questions): The whole idea of quantitative easing is to buy treasuries from the banks, thus giving the banks more money which allows them to give out more loans because of fractional reserve banking. The increased supply of loans lowers the cost of borrowing, aka the interest rate. This leads to more investment and spending, which increases GDP. But the increased supply of money causes inflation. 1. How come bond yields have risen since QE2 was initiated then (Nov 3, 2010)? I thought they were supposed to go down?
26 Mar 2011
I'm in my second year studying Maths at a Target Uni in the UK and I need advice in which one of these two internships to go for: The first internship is in the Markets Division (Cross-Asset) at a Tier 3 Investment Bank in London. The second internship is as a Trading Intern at a high-frequency trading firm in Amsterdam. I'm really looking for something that's going to be more quantitative/mathsy and so it'll make sense for me to choose the second over the first, however there's a few things holding me back. Firstly, because the first bank set an exploding deadline, I've already had to accept
12 Dec 2020
I had interview with Bank of America Quantitative Middle Office. First off, I am not sure what they are doing exactly and the answers are not consistent. I was told it's similar to quant on the desk... but why a quant in the middle office? Has anyone worked there before and how's it really going? For some reason it seems really suspicious.
16 Oct 2015
Currently working a job in Asset Performance Analytics and reporting at a boutique Investment Management firm. Based on my exposure in school, and what I've learned and been exposed too at my current position, I think I would really enjoy working in equity research. I'm generally knowledgeable about different jobs and functions within equity research, hence my interest, but am less educated on things such as: coming from a semi target school with a bachelors in Finance, an average GPA but solid experience (2 years worth), am I poised well to pursue entry level equity research positions or am I
02 Jun 2017
Hi everyone, I am very new here since my background is more tech/science-oriented. I am a STEM major at an ivy league school, and am primarily recruiting for AI/data science roles. Recently, I got invited to the internship launch call for Market Intelligence Point72. I found there is not much info on this role here. I would like to know how I should prepare for the call, what I should expect, and what these kinds of roles look for. Also, what is a comparable role in a similar company (like perhaps Citadel) that I could look at to get a better idea of what exactly this role is? Below is a blurb
31 Oct 2020
Do traders/researchers at quant funds get a %PNL at prop shops such as Jane Street or at hedge funds such as Citadel? Any insight would be appreciated, as well as insight on HFT shops like Hudson River.
23 Jan 2021
I'm currently getting to know how to conduct analysis of credit risk with Python, is there any project for newbie that I can start to put into my portfolio?
08 May 2021
I have three options for a Summer 2022 internship. First one is as a Rotational Summer Analyst at Jefferies (business lines in rotation are Investment Banking, Fixed Income, and Equities). Second one is Global Quantitative Analytics Summer Analyst at BoA (part of Global Risk team). Third one is "Summer Analyst" at a boutique Private Equity firm. Which internship is most valuable in securing an Investment Banking SUMMER Analyst position in Summer 2023? I am Class of 2024 non-target. Appreciate any feedback.
21 Apr 2021
I'm currently in my sophomore year of college. Majoring in mathematics and computer science. My end goal is to be at a hedge fund as a quant researcher then eventually a trader. What internship positions should I be looking for to boost my resume for future job opportunities? Also, I know it's tough to break into HF straight out of undergrad but what were some of your previous jobs before breaking into HF? On the internet, I read some came from sale and trading from IB.
15 Apr 2021
He buys suits from JC Penneys, he's a MSD, he's a die-hard frugalosophist, but as UFOinsider put it, "At the end of the day, he still adds more value to this site than you." And since IP won "everyone gets a free $1 off coupon for a 1.5 L bottle of Yellowtail" We also have to give a BIG congratulations to CompBanker who finished a very close second in the race (IP 149, CB 138). CB was winning until I adjusted the poll to IP vs CB straight-up (and until CB got tired of making fake accounts to vote ;), so it easily couldve ended either way. A huge debt of gratitude is owed to you guys and to the
03 Jan 2012
I'm writing a senior thesis supervised by a professor in the math department on some of the technical aspects of options pricing. This will count towards my honors degree. My question is, is it useful to mention the thesis anyway on my resume/in an interview? I'll be spending a lot of my free time over the summer working on it, so a good rough draft will be done by fall recruiting. I'm a rising senior and I've only had consulting summer experiences so far -- will a thesis in options pricing show that I have interest in trading? Will non-quant trading recruiters find it interesting or will it be irrelevant for them? Thanks in advance for your advice.
24 Jul 2012
I did a search on role of a structurer and the desired skillset. However all that I came across was a need for "excellent quant skills" and stuff in similar vein. To clarify, how much of quant knowledge are we considering? Is it maybe linear algebra, basic probability theory excel manipulations or stochastic calculus and fancy high endfinancial engineering stuff? How much of the job entails coding? This may depend on the desk, but an insightful comment will surely help!
10 Sep 2008
Just took the GMAT this morning and I got a 720. That's the 94th percentile you say, good for you! Except not. My breakdown is 41Q, 48V which equates to the 58th percentile on the quant part and well into the 99th percentile for verbal. Problem is, most schools could care less about my verbal score. I'm planning on applying to various finance msc. this month and I'm a little bit at a loss of what to do. Here's some more stats: 3.5 in International Relations at a Top 30 US undergrad (very reputed in that field). A C- in Calc I (GPA killer right there) 2 years of experience in mutual fund custody at a former TARP recipient. I took the GRE this summer: 800Q 680V 5.5 AWA Native French speaker (Native English speaker as well obviously).
30 Oct 2010
I'm at CMU right now doing the finance track in tepper but I'm thinking of applying for comp fi in the spring. How much would this help if I'm leaning towards M&A but wouldn't be opposed to S&T? I don't have that much by way of S&T experience so I went after a M&A internship in Asia for the summer. Is it worth it to take get into this major in general?
27 Dec 2009
I have a few interviews coming up for trading roles and was wondering what the difference is between systematic and quantitive trading is? Thanks for your help, Best
14 Mar 2021
I don't know if it's best for what I want to do. Well I'll be going to Michigan's LSA (language, science, and arts) next year and trying to get into Ross. I'm thinking if I get in I'd like to double major in Business Administration with a focus in accounting or finance and computer science... the reason I'd like to do CS is because 1) It seems like something I would be interested in and 2) I've been taking calculus classes at my cc right now and am picking it up pretty easily so I'd like to be able to build up my quantitative knowledge.
27 Mar 2011
I am trying to break into a BB. Preferably to work in a quantitative field, but my experiences are kind of irrelevant. Any comment is greatly appreciated. I also double if my cover letter is too short to too cheesy. Thank you in advance. Resume: http://www.razume.com/documents/16876 Cover letter: http://www.razume.com/documents/16877
26 Sep 2010
Do most people take gmat courses or intensive at-home study options, or how long does one usually spend preparing for a GMAT exam? I know there are some posts on here from certain people asking how to study, etc but I was wondering if most people (at least those who did really well on the exam) actually use study services whether it be a class or just a book. I've taken the exam once without doing any studying, just a little review from the GMAT Prep software that you download when you register for the exam. I didn't do so well on the Quantitative part, and I'm thinking about retaking to try for a better score. I guess I'm just looking to see if people think a lot of studying will really pay off, or if the skills are something you just sort of already have and these resources won't do much than add a couple points here and there... Thanks in advance!
12 May 2010
Anyone else get invited to this for tomorrow? Know what it entails? I'm interested much more in IBD but applied to this, and was accepted. Have no quantitative background whatsoever but was accepted anyways, which was strange. Was also denied to a general 1-day program sponsored by my school, so I was very surprised to see that I was accepted to this. Regardless, looking forward to it. Anyone go last year that can shed some light on what to expect?
03 Jan 2011
Hi all! I am thinking of doing a further study and moving into quant space on the sell side. Could anyone give a picture of the career perspective as a Quant Analyst in London? For example, how quickly it could climb up along the career ladder like analyst, asso, vp, d, md. And what is the general / average compensation structure like currently at different levels? Many thanks!
10 Nov 2020
About two years ago, I had a fascinating market related conversation with the son of a high ranking Chinese Communist Party member who had recently finished a top 5 MBA program stateside. He was celebrating all over town and the entourage grew by the bottle. By the time I bumped into him, the next destination was already determined... Enter at your own Risk Sadly, due to the potent mix of Grey Goose and that lotion/perfume one can only inhale within the bulge bracket of gentlemen's clubs, I forgot not only the kid's name, but my Crackberry and scarf in one of the booths... Oh well, so much for most favored Capitalist Devil status... I had my Shanghai trip all planned out...
12 Dec 2010
dear fellow monkeys, do you know of any reputable master's programs in applied math/computer science that dont require a bachelor's in math/cs? my bachelor's is in econ, but i wanna get a more quantitative degree (i am not that interested in fin math though ... ) i am interested in programs in the US as well as in Europe. i very much appreciate any answers cheers.
07 Nov 2012
I was wondering how much quant stuff was involved in IB overall. Most of my classes now are specialized towards to preparing one for job as a financial analyst (taking classes like Quantitative Investment Management, Financial Modeling, Economic and Financial Real Time Modeling, Computational Finance, etc.) but I heard from my adviser that this would only be well suited for analysts in a hedge fund but I am hoping to enter IB. How much quant stuff exactly is involved in IB and is there such thing as a quant analyst at an investment bank or is it just a general title?
22 Aug 2012
Bond funds have been on my mind lately. I know today is Election Day and some of you are expecting me to opine about the possible outcomes. Meh. No matter who you vote for, government still wins. With the exception of California Prop 19 (vote YES if you're eligible), I'm really pretty disinterested in what is yet another "most important election of our lifetimes". What I am interested in is what happens tomorrow. Retirees and other bond fund investors better go out and get plenty drunk tonight, because come tomorrow the party is over. Smart money says the Fed is going to kick off QE2 with a
02 Nov 2010
Retrospectively, I think I should have said that I currently have a comparative advantage in persuasion, but my passion is for quantitative areas of corporate finance, esp. QRM. Is this a good response if they are looking for a quantitative person?
24 Mar 2013
Hi, I received an email from BlackRock about an application I made for the Risk & Quantitative Analysis graduate program (part of their portfolio management group). They wanted me to take an online numerical test. I did it today and I think I did 17 right out of 20 (the questions were exactly similar to ones I did in the past for banks, so bad that I forgot the answers). I haven't received any email after I took the test. I read on other websites that usually you get a feedback the same day, saying wheter you failed or passed. Do you know how long it takes to get that feedback??? I received another offer and as I have started the process with BlackRock, it will take a long time before I can get to the final round (if I successfully pass all the previous rounds).
02 Mar 2011
Hello, I've been working in finance for a year now and am exploring new careers. I am interested in financial engineering, and have a master's degree in finance. I would consider going to an MFE but would rather not due to the expense. That being said, I have two questions: 1: since I already know some stats and stats related programs, could I get into financial engineering by self-teaching the rest and networking? 2: what online classes should I take to learn more about this career option? 3: what are the most highly thought of MFE Programs in the US? Thanks!
20 Jun 2016
Hi, I'm a masters student looking to apply for Quant like intern positions. Many intern titles differ from company to company. Does anyone know some frequently used quant intern titles or buzzword position titles you've seen? Thanks
05 Sep 2020
Hi all, I was let go due to restructuring at the beginning of the year. I'm trying to decide between an MBA and MS Financial Engineering. Looking to hopefully make the move to the buy-side in a trading/investment role and the job market has not been too kind lately. Some background about myself. - Went to a non-target undergrad - Spent 1 year on a bond desk and 2 years as an analyst on an equity derivatives desk at a large European bank What would be the pros/cons of each degree if my end goal is to be in a trading/investment role on the buy-side? Thanks in advance for the response.
28 Aug 2020
Hi, I was hoping that some current business/finance professionals could give some advice in regards to a change I am hoping to make regarding my career. I'll try to make it quick but anything would be appreciated. I went to Rutgers and graduated with an engineering degree two and a half years ago. I did very well (GPA: 3.9+) and went into the engineering field because it would've been impossible not to start there and try to get in after the fact. (By the way, I mention my GPA not because I intend to boast but rather because all the other threads seem to reference your academic records when not coming from a "target" type school.)
28 Nov 2009
Hi, I was wondering if you guys could help me make a decision regarding my summer internship. So a little background about myself: I don't really know much about finance. I just applied to several jobs and have been cramming for interviews the night before each one. I want to learn a lot about finance over the summer, and when I apply to full time positions next year, I would ideally like to get an offer from MBB for consulting or top IBanking divisions such as Goldman or Morgan Stanley. So far for this upcoming summer, I have offers from Credit Suisse IBD Oliver Wyman FS I have final round interviews coming up for Citadel (2 groups) Citi Quantitative Trading & Analysis Bain I would take Bain over all offers, but I obviously have to prepare for the likely outcome that I won't get an offer from Bain. I am wondering 1) Which would would you take (I want to learn a lot while keeping as many options for myself as possible for full time)? Credit Suisse IBD vs. Oliver Wyman FS? 2) Should I even bother going to the final rounds for Citadel or Citi? Thanks guys.
20 Feb 2010
I have an interview coming up for a "quantitative research analyst" role at Fidelity. What is the salary/bonus like for a job like this? Also, what is the typical career path like? Many of my friends tell me that they would take this over any IBD job because people in IBD/PE want to exit to a buy-side fund like Fidelity. Is this true? Would any of you take this job over a investment banking position at Wells Fargo? I would really appreciate any insight into this.
30 Jan 2011
Hi, I was wondering how important quant skills are in equity research (I've been reading about it, and it seems like a field that suits me fairly well)? I know that for trading, quant majors are looked upon favorably and that majoring in something like finance may actually hurt you, but I was wondering if this is true in equity research as well? I'm pretty decent with numbers and am good at working with them, doing mental math, and manipulating them, but beyond Taylor Series, iterated integrals and all that jazz, math got really theoretical for me, and I was never quite good at Linear Algebra and such. Therefore, I thought I'd turn to this forum to get a feel for how my lack of math classes/major in math will hurt me? Also, realistically, is it possible to break into ER from a non-target, especially compared to trading/i-banking, or is it more or less as difficult as the others? thanks
08 Feb 2010
A recruiter at BAML reached out to me to see if I'd be interested in their Quantitative Analytics Summer Analyst program. (I can't post the link bc I'm a new poster) I'm a junior math major but I have nearly no programing experience. I just want to know if anyone has experience with this program and can give me a detailed response on what the program is and how in-depth the math (and I'm assuming programing?) gets The job description is super vague.
16 Jan 2019
These guys just came and did a big presentation at Stanford. They seem to be MS's proprietary high frequency algorithmic trading group. As far as I can make out, there isn't much of a lead role for undergrads to play in such a desk - you're either doing research or doing development/implementation. DOes anyone have more info on these people? Does Goldman Sachs have a comparative group? What's their reputation - I know that David Shaw came out of prop at Morgan Stanley
05 Oct 2008
Partnership Description The Opportunity: Partners A and B currently work together at a major quantitative, asset manager. In 2017 the Partners, based in Miami, will leave to form a systematic, trend-following hedge fund focused on an underserved, but well-capitalized, client niche. The aim of this job posting is to meet, and build a relationship with a future life-long business partner, who is specialized in Trading Strategy Programming/Development and Trade Execution. The Audacious Goal: We're fearless, good-humored, and a little intense. What drives us is a strong interest in working for
11 Jun 2016
Hi guys, I have managed to get my self an internship at a hedge fund in london as a quantitative developer. I am currently an MSc Finance student and was initially looking for a more quant researcher or trader role. 1. Will a quant developer role allow me to possibly move into a quant research or trader role in the future? 2. What is the progression as a quant developer in terms of salary and roles. 3. Do you guys have any other advice. Thanks
17 Apr 2016
Hi,I'm 16 and I am from Italy.My dream is to manage a hedge fund ( that use a lot of HFT ),I started some days ago reading Technical Analysis By Martin Pring ( I read about 5 pages :) ) .Thus...This I am ! PS I wanna become a great quant so I'll take computer science at college,I wanna study in US or UK.
16 Jan 2015
I'm trying to do a comparable companies analysis for a company in the industrial sector and was wondering what ratios/metrics I should be using for companies in this industry and why. So far, I've decided to use: EV/EBITDA EV/Revenue FCF/Share FCF Yield Dividend Yield P/E Debt/EBITDA Am I right to be using these ratios or should some be altered/added/removed? Thanks in advance.
25 Mar 2009
I am about to complete an a UK BSc in Economics and Econometrics. I want to become a Quantitative Analyst one day but I have never heard of quants coming from this sort of background. My questions are: 1.) Since I'm looking at applying for an MSc in Statistics and eventually going into a PhD in that field. Would this line of education be good enough to prepare someone for quant work? Of course I'm planning on toning up my programming skills over the years too. 2.) Or is it just too unrealistic a plan, is there no way an Econometrician can do quant work? Should I just start a completely new degree; earn a second Bachelors in Mathematics and Computer Science? I am serious about this and would willingly go to school for another decade.
05 Dec 2010
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15 Apr 2017
I was wondering if anyone had any ideas of how to transition from M&A to a more quantitative role. I don't want my M&A experience to go to waste, even though it is only one year, and I would love to hear pitches about how to leverage this experience in order to end up in a quantitative job that is a better fit.
22 Oct 2016
Hello, I have an interview for a quantitative associate position, supporting equity research at an investment bank. Is there anyone who could tell me about the chances of working there than moving to equity research? Thanks!
23 Feb 2015