Investment Banking seems like a good job with a great pay.
However it doesn't seem to include much Mathematics which is my undergraduate degree in and which I would like to use at my job.

Are there any roles in IB banks that do include lots of Maths? I've heard about Quant but I'm not sure what they do exactly and whether it is
front or back office?

Also are jobs in a hedge fund considered better than in IB (both in terms of pay and prestige)?

Reply 5991

username738914

21

Original post by NeoXx

Investment Banking seems like a good job with a great pay.
However it doesn't seem to include much Mathematics which is my undergraduate degree in and which I would like to use at my job.

Are there any roles in IB banks that do include lots of Maths? I've heard about Quant but I'm not sure what they do exactly and whether it is
front or back office?

Also are jobs in a hedge fund considered better than in IB (both in terms of pay and prestige)?

Quants are usually there to build the pricing models and instrument analysis tools for traders; more so traders on exotic derivative desks than anything really - so not quite 'front office'. I imagine the exotic deriv guys (traders and structurers) will have a more intimate relationship with maths.

Really, if you want to make use of your Maths degree, you're better applying for proprietary trading shops (i.e. Jane Street, SIG, DRW) and quant hedge funds (i.e. DE Shaw, Citadel etc). The interviews are hands down 100x more difficult than anything you'll face from a bank and the work itself revolves around using maths/programming to implement trading ideas.

Larger HFs pay more than banks, and there isn't really any limit on the upside. The same can be said for prop houses, you're usually paid a bonus based on a fixed % of the PnL you generate.

All this said and done, you won't be proving any wild theorems in the City; if that's what interests you go do a PhD and go into research.

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Reply 5992

saycheese:)

2

Anyone did Blackrock's Analytics and Risk- Aladdin video interview? Is it competency or technical based?? Thanks

Reply 5993

Foxab77

12

Original post by saycheese:)

Anyone did Blackrock's Analytics and Risk- Aladdin video interview? Is it competency or technical based?? Thanks

I don't get it they offered me a second interview in this division?

Reply 5994

busybuddy

5

still nothing from blackrock alternative investment

Reply 5995

tech10

4

Just got invited to do a video interview for Analytics & Risk - Aladdin Client Services for BlackRock? Anyone else in the same boat/had one? How are people preparing/what were people asked... PM me... all advice welcome!