Does anyone know any Quants?

Hi guys, thought I'd see if any of you guys know people who are quants, or quantitative traders? I've done a couple of summers at Credit Suisse, which came about because my girlfriends uncle persueded me to apply to his dept. I was taken on to write a few programs, develop a few systems and clean up some of the processes. I was invited back by the bank the second summer, and I thought I'd go along because the cash was handy. While I was there, I spoke to some people in Derviatives IT and they mentioned some pretty interesting roles that I could look into when I finish at Uni (i'm doing a Post Grad at the moment). Working with some of the more exotic desks. I also spoke to some of the GMAG people, who seemed just as technical, but there was a lot of emphasis on the programming side.

However, I've been put off a little by the shear amount of coding involved in these quantitative roles. I'd be quite happy to develop models, enhance algorithms and spending a little time writing up some programs, but I don't want to be a pseudo code monkey.

It's unlikely I'm going to be heading down this route for a few years yet, because I'm planning on doing a PhD, but it never hurt to have a few options open. Also, how competitive are some of these roles? Is it possible to walk in straight from a long stretch in academia, or is it expected that you spend a few years on the trading floor before hand?

Any info much appreciated... :smile:

Reply 1

Ibrahim

Hi there! We’re in the same boat dude. I think this sort of question, as I’ve found out other day (curiosity of PB), is better posted on Wilmott. It’s excellent that you’ve got first hand experience in the industry but AFAIK PhD (or similar) qualification in numerical subjects (such as maths, computing, engineering etc) is needed for most quant jobs in the City. I know C++ is a must, which other languages did you mostly use whilst you were at CS?

Here is the link to Wilmott:
http://www.wilmott.com/index.cfm?NoCookies=Yes&forumid=1

Reply 2

CityMonkey

11

Ibrahim

Hi there! We’re in the same boat dude. I think this sort of question, as I’ve found out other day (curiosity of PB), is better posted on Wilmott. It’s excellent that you’ve got first hand experience in the industry but AFAIK PhD (or similar) qualification in numerical subjects (such as maths, computing, engineering etc) is needed for most quant jobs in the City. I know C++ is a must, which other languages did you mostly use whilst you were at CS?

Here is the link to Wilmott:
http://www.wilmott.com/index.cfm?NoCookies=Yes&forumid=1

Yep, Wilmott is the way forward for quants.

Reply 3

Wrangler

OP

2

Ibrahim

Hi there! We’re in the same boat dude. I think this sort of question, as I’ve found out other day (curiosity of PB), is better posted on Wilmott. It’s excellent that you’ve got first hand experience in the industry but AFAIK PhD (or similar) qualification in numerical subjects (such as maths, computing, engineering etc) is needed for most quant jobs in the City. I know C++ is a must, which other languages did you mostly use whilst you were at CS?

Been on Wilmott for a while - thought it might be an idea to hear from an external POV. It was mosltly VB in the bank, and a bit of database stuff. Also looked into a little of the C# towards the end. The guys in Derivs IT said this was the way to go.

I've got a fairly good degree in Mathematics, and I'm just about to finish Part III. But as I said, I don't think I'll be going down this route before I finish a PhD anyway.

:smile:

Reply 4

Wrangler

OP

2

Oh God - please don't look at this thread as a tarted up "these are my GCSEs... do you think I've got a chance..." type thing. I'm fairly confident my academic side of things will be ok, but it's not clear to me whether positions such as these are open to grads fresh out of academia. Also, as I mentioned, I don't want to be some sort of pseudo coder, so differentiating between seemingly similar roles will be quite important.

:smile:

Reply 5

nero44

hi,
been working with a mid-size bank (aprox. 1000 employees) within the derivatives sales division for a little. We had to work closely together with the traders quite often due to the complex structure of exotic products. Therefore, I got to know some people from the trading desk including two quants. Both had a PhD in math, but they were only doing quant work no trading. As far as I know, neither of them worked on the trading floor before...I think they did some consulting prior to their quant-jobs

But what's quite interesting is that there seemed to be a strong demand for quants and the bank had quite a rough time finding some. I do not know about their pay, but it seems as these quants I got to know had quite an easy entry.

Reply 6

Ibrahim

I don’t think it will make that much of a difference as to whether you stay in academia first and then go into City or vice versa. However, I’d prefer to go into City first so that I make my money whilst I’m still young (for obvious reasons), and then go into academia to settle down and perhaps work towards to become a professor or something to live a slower life. :smile:

Reply 7

el_capitan

Wrangler

Hi guys, thought I'd see if any of you guys know people who are quants, or quantitative traders? I've done a couple of summers at Credit Suisse, which came about because my girlfriends uncle persueded me to apply to his dept. I was taken on to write a few programs, develop a few systems and clean up some of the processes. I was invited back by the bank the second summer, and I thought I'd go along because the cash was handy. While I was there, I spoke to some people in Derviatives IT and they mentioned some pretty interesting roles that I could look into when I finish at Uni (i'm doing a Post Grad at the moment). Working with some of the more exotic desks. I also spoke to some of the GMAG people, who seemed just as technical, but there was a lot of emphasis on the programming side.

However, I've been put off a little by the shear amount of coding involved in these quantitative roles. I'd be quite happy to develop models, enhance algorithms and spending a little time writing up some programs, but I don't want to be a pseudo code monkey.

It's unlikely I'm going to be heading down this route for a few years yet, because I'm planning on doing a PhD, but it never hurt to have a few options open. Also, how competitive are some of these roles? Is it possible to walk in straight from a long stretch in academia, or is it expected that you spend a few years on the trading floor before hand?

Any info much appreciated... :smile:

Hi Wrangler,

My bro also completed Part III at Cam, having also done his maths undergrad degree at Selwyn. He's currently in London working in quant analytics with a BB firm. Feel free to PM me if you want any additional info but as others have said Wilmott will be your best bet for quant stuff. Competition isn't as intensive as for those programmes for BAs straight out of uni but with your academic background you will find it much easier than others :smile:

I don't think it is necessary to have a stint on the trading floor because I understand they are far more interested in your academics (a phD is practically a prequisite for this area nowadays) though the odd internship at an IB will undoubtedly help. Working as a Quant is, IMO, just a fancy, richer way of saying 'i'm basically pursuing academia with an IB and being paid extremely well for it, as opposed to continuing research at uni'. The pay is fantastic and bonuses are extremely mouth-watering. Have a look at efinancialcareers.com under quant analytics, if you haven't already, to see what i'm on about, but bear in mind that for most of the jobs advertised there they usually require a few yrs experience.

Does anyone know any Quants?

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