Discussion Overview
The discussion centers on the potential for individuals with a PhD in physics, particularly those with a background in experimental physics and numerical analysis, to secure quant positions in finance without a formal finance degree. Participants explore various pathways, experiences, and advice related to transitioning from physics to finance, including self-study and relevant skills.
Discussion Character
- Exploratory
- Debate/contested
- Technical explanation
Main Points Raised
- One participant, Veen, inquires about the feasibility of obtaining a quant job without a finance degree, highlighting their background in numerical analysis and programming.
- Another participant suggests networking with professionals in the field to gain insights and possibly job shadowing opportunities.
- A different viewpoint mentions that actuaries have been utilized in quant roles, proposing that strong knowledge in probability and financial math could be beneficial, along with passing actuarial exams as proof of capability.
- Some participants note that historically, technical PhDs without finance backgrounds were commonly hired as quants, and Veen's skills in programming and numerical methods could make them a strong candidate with self-study in mathematical finance.
- It is mentioned that entry-level quants often do not have formal financial backgrounds, but a self-taught understanding is expected, with emphasis on the importance of applying for jobs during the final year of a PhD.
- Contrarily, one participant argues that the landscape has changed, suggesting that employers now expect candidates to have knowledge of specific financial texts, such as those by John Hull.
- A suggestion is made to seek further discussion on other forums like Wilmott or QuantNet for additional perspectives.
Areas of Agreement / Disagreement
Participants express a mix of opinions regarding the current expectations for quant candidates without finance degrees. While some believe it is still possible to enter the field, others contend that the requirements have become more stringent, indicating a lack of consensus on the matter.
Contextual Notes
There are varying assumptions about the current job market for quants, including the relevance of self-study and the necessity of formal qualifications. The discussion reflects differing perspectives on the evolving expectations of employers in the finance sector.