What are the best areas for a quant PhD with future employability?

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Discussion Overview

The discussion revolves around the best areas of study for pursuing a PhD that would lead to employability in quantitative finance, particularly as a quant. Participants explore various fields within physics and engineering that may align with programming skills and statistical analysis, while considering the competitiveness and nature of the work involved.

Discussion Character

  • Exploratory
  • Debate/contested
  • Technical explanation

Main Points Raised

  • One participant suggests avoiding fields like particle physics and cosmology, favoring areas with programming components.
  • Another proposes Statistical Physics combined with MBA courses as a viable path.
  • A participant shares insights from peers who transitioned to the financial sector, emphasizing the importance of programming knowledge, fluid mechanics, statistical mechanics, and Monte Carlo methods for quants.
  • There is mention of the competitiveness and stress associated with quant roles, but also the high salaries involved.
  • One participant considers applying for PhDs in condensed matter theory, indicating that significant computational work would be beneficial.
  • Another participant argues that fields like cosmology, condensed matter, and mechanical engineering can also provide relevant computer-intensive experiences suitable for quant jobs.
  • Statistical analysis is highlighted as a weak area for many physics PhDs, suggesting its importance for employability.
  • Programming in C++ is recommended as a valuable skill for prospective quants.
  • Comparative stress levels between quant roles and junior faculty positions are mentioned, with a suggestion that quant roles may be less stressful.

Areas of Agreement / Disagreement

Participants express varying opinions on the best fields for a quant PhD, with no consensus on a single area. Some advocate for computationally intensive fields, while others suggest specific combinations of physics and business courses. The discussion remains unresolved regarding the optimal path.

Contextual Notes

Participants' recommendations depend on individual experiences and perceptions of the job market, which may not universally apply. The discussion reflects a range of assumptions about the relevance of different fields to quant roles.

TableChair
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I'm considering applying for a phd, however I am not 100% sure that I will want to pursue an academic career, so I am trying to work out which areas would be best to work in such that I am employable afterwards.

Specifically I have been looking at possibly becoming a quant, and I was wondering which areas would be best. I imagine staying away from things like particle physics and cosmology is a good move, and trying to do something that would involve a reasonable amount of programming might help. However beyond that I am not really sure and would appreciate some help.
 
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Statistical Physics with some MBA courses.
 
Hi TableChair,

Some people that i met when i was doing research in uni went to work in financial sector and they told me that the primary focus for quants modelling i.e. one must have a good knowledge in programming(obviously :smile: ), fluid mechanics, statistical mechanics and MC. The work is hard though, very competitive and stressful, but the salary is very high. You probably know that.

Those guys who went to work as quants had phds in astrophysics. I suppose any field that has relations with simulation and programming would be suitable eg Lattice QCD, computational fluid dynamics.
 
Right, well I was thinking of applying for phds in theory of condensed matter, so as long as it involved a significant amount of computation, it should be ok?
 
Anything that will get you in front of a computer. Cosmology. Condensed matter. Astrophysics. Mechanical engineering. Whatever. Particle physics and cosmology have a lot of computer intensive areas, which will work for quant jobs. The thing that you want to stay away from are "pencil and paper" jobs where you don't do programming.

Also anything that gets you involved in statistical analysis will be really useful, since this is a weak area for most physics Ph.D.

Also try to program in C++.

As far as hard, competitive and stressful. Yes, but no where near as hard, competitive and stressful as being junior faculty.
 

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