Quantitative Analyst

[l-1j-cho]

http://www.markjoshi.com/downloads/advice.pdf
http://en.wikipedia.org/wiki/Quantitative_analyst

Which sub-specialty of mathematics or physics, excluding statistics is the most pertinent to quant jobs(especially model validation quant)?

[twofish-quant]

http://www.markjoshi.com/downloads/advice.pdf
http://en.wikipedia.org/wiki/Quantitative_analyst

Which sub-specialty of mathematics or physics, excluding statistics is the most pertinent to quant jobs(especially model validation quant)?

Doesn't work like that.

It's not what you know, but how fast you can learn.

To take an extreme example, if you can do QFT, then we can be reasonably certain that you can teach yourself stochastic differential equations quickly if you need to learn it. If you can't do algebra, then we can be reasonably sure that you can't.

So it doesn't matter what field it's in as long as it involves hard math and physics. Also it helps if you study something odd. For example, no one on my team has any experience in oceanography. So anyone with a strong background in oceanography is going to get noticed because he or she may have some experience with mathematical/physics techniques that none of us have.

[l-1j-cho]

Thank you for your reply.

I was wondering if you can elaborate different types of quants, for favor?
Like, I don't want to deal with clients and dont wanna get stressed and dont wanna work like 100 hours weekly.
I know it is too early to really narrow it down but I just wanna get the sense of it

Cheers

[twofish-quant]

I was wondering if you can elaborate different types of quants, for favor?

Look at The Complete Guide to Capital Markets for Quantitative Professionals by Kuznetsov

You can divide them into asset classes (stocks, bonds, credit derivatives).
You can divide them into functionality (front, mid, back office)
You can divide them into high frequency trading versus exotics

One problem is that since the name "quant" is cool, it's been applied to any finance job that involves numbers.

Like, I don't want to deal with clients and dont wanna get stressed and dont wanna work like 100 hours weekly.

People in finance typically work 60 hours a week, which is more or less standard in high tech industries. With some exceptions the real horror stories about people that work 100 hours a week are in things like mergers and acquisitions and aren't technical positions.

[l-1j-cho]

One last question, if I choose to pursue this career after phd, as a quant, would you recommend to spend two years to get a MFE(MMF or MFM) degree or accumulate more job expereinces?

I appreciate for all of your help

[twofish-quant]

One last question, if I choose to pursue this career after phd, as a quant, would you recommend to spend two years to get a MFE(MMF or MFM) degree or accumulate more job expereinces?

If you have a Ph.D. in physics, I'd strongly, strongly, strongly advise *AGAINST* getting another degree. You'll have several tens of thousands of dollars in extra debt, and the added usefulness of the degree is minimal and probably negative.

It's great for the school. They get a ton of money from you, and they get to put in their stats that they successfully placed you for a job that you would have likely gotten anyway.

Work experience is good. Try to get a job on Wall Street, if you can't, then settle for any sort of programming job, since any sort of programming job will make your resume look better. There are companies on Wall Street that make it a specific effort to hire programmers outside of finance since they think that they are better.

[daveyrocket]

How can you stand working 60 hours a week? I would hate doing that.

[ParticleGrl]

How can you stand working 60 hours a week? I would hate doing that.

Didn't you get a phd? I don't think I ever put in less than 70 for the last decade until I landed out of the field.

[twofish-quant]

Didn't you get a phd? I don't think I ever put in less than 70 for the last decade until I landed out of the field.

Same here. One good thing about finance, unlike academia or other technology jobs, is that with very rare exceptions, you don't have "homework" and your weekends are free.

[daveyrocket]

Didn't you get a phd? I don't think I ever put in less than 70 for the last decade until I landed out of the field.

I did, but I think I only put in that many hours the first year when I was taking a full course load. After that, there was the occasional weekend but I think I averaged 45-50 hours. Except when I was writing my dissertation.