How to become a wealthy Investment Banker?

I have already done Maths and FM last year, doing all of the stats modules. The immediate frontier for me lies in truly understanding linear algebra, partial differentiation and going beyond a 'first course' understanding of stats.

Also, I would like to say that I am aware that everything I have studied is essentially 'analysis', and that some people don't even regard it as mathematics proper. Having looked at some of the 'real' Maths, if you'll excuse the pun, I know that I can do it.

But yes, thank you for clearing up the importance of research in quantitative analysis. I'm actually quite pleased about the prospect .

I don't believe that, not in banks. IT doesnt get much bonus afaik and they are on roughly the same salaries as everyone else. A 5 year associate salary is around £60-80k, I don't believe IT people are getting £20k+ bonus.

Also getting into the £100-200k range is 'easy' in finance, the problem is that tech doesnt have much upside and moving above that range is very hard

Nah, not in finance. Which is why I said tech as opposed to IT. I think if you're actually interested in tech, you're best off with a tech company or something. You'd be wasted in a bank. Google for example pays 110k + 60 in shares (much of it untaxable) in the 3rd year or so. Pretty sure other tech companies pay similar, and the big market makers/prop traders are equally if not more competitive.

So much IB talk on this forum, but why so little discussion of quantitative analysis? Is it because it requires a great deal more mathematical/computational skills than IB, making IB seem like an 'easier' option? I'm just curious because quants receive very good salaries as well, but no one seems to speak about wanting to be one.

Nah, not in finance. Which is why I said tech as opposed to IT. I think if you're actually interested in tech, you're best off with a tech company or something. You'd be wasted in a bank. Google for example pays 110k + 60 in shares (much of it untaxable) in the 3rd year or so. Pretty sure other tech companies pay similar, and the big market makers/prop traders are equally if not more competitive.

If you'd like a textbook for really understanding linear algebra "linear algebra done right" is a very good book, very well regarded by people who care about understanding maths. I hate it, didn't help with my exams in anyway. Casella berger statistical inference is a great statistics book. Am slightly dubious you studied real analysis at A level as well.

As poohat has said you might be typecast into a quant developer, which is a bit ****, but there are inevitably people with Phds in compsci who work in quant trading.

https://www.rentec.com/Jobs.action?research=true

renaissance technology the top quant HF seems to be ok with them.

Forgive my stupidity but what do you mean 'working for a tech company', what sort of employee would reach 110k+ in 3 years? I quickly searched the average salary for Google engineers and it's about 54k in London, not trying to discredit you but I'm just wondering which specific jobs would net you that salary.

these are American salaries, tech in tthe UK is nowhere near as well paid. Silicon valley starts undergrads in $100-120k, you won't get more than £35k in the UK

A PhD in machine learning is not comparable to an undergrad degree in CS. Sure, ML PhDs have great prospects in algotrading

these are American salaries, tech in tthe UK is nowhere near as well paid. Silicon valley starts undergrads in $100-120k, you won't get more than £35k in the UK

As a new hire yes, but as an experienced hire, as long as you have an offer from Amazon or similar they'll beat it. To be honest I don't know too many google UK employees, but of the two I do know, my sisters bf moved here from Canada's amazon branch and they beat the Amazon offer significantly. The other dude I know moved from Microsoft, and again they beat the offer significantly. It may be lower if you don't have another offer or something.

35k is ridiculous though. I don't know anybody in tech who gets paid anywhere near as low as that. That's an IT salary.

So true! A lot of people don't realise that tech at a good tech company is like another world from IT. If you're smart and go for the VC funded startups (or make your own) you can get some serious cash.

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Why are you talking about CS and PhD in physics etc. in a thread about investment bankers - those are not quants. Or is this about investment banks in general and not investment bankers?


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Quants tend to have PhDs in very mathematical subjects - it's relevant.

I believe the discussion has morphed into a more general finance one and other means of becoming wealthy.

This may be a daft question but is Imperial considered good for breaking into quant/trading?

Are you coming to Imperial? If so then get ready for the army of bank HR teams coming to campus every other day of first term to try and buy your soul.

FWIW, our finance society went from being out-of-this-world two years ago, to ok last year, to dreadful this year. If you are coming to Imperial, then it could certainly do with a kick up the bum, so make that your ambition for your second year and I'm sure the banks will be throwing offers at you. That's usually how it goes (probably not this year though – I certainly hope it didnt!).

So much IB talk on this forum, but why so little discussion of quantitative analysis? Is it because it requires a great deal more mathematical/computational skills than IB, making IB seem like an 'easier' option? I'm just curious because quants receive very good salaries as well, but no one seems to speak about wanting to be one.

Would you say that only graduates from top places have a chance? I'm studying computer science at RHUL from the autumn, but I am also continuing my study of mathematics beyond my current 'Further Maths' level of understanding (partial differentiation, linear algebra, theoretical statistics), so that I can hopefully get onto a good masters course in the field.

I guess I am asking whether you think that if I get a BSc at RHUL, and a MSc at a higher-ranked place (possibly Oxford), if I would have a realistic chance of getting into an 'algorithmic trading' position. I'm hoping that quant recruitment focuses a little more on skills and ability than having studied XYZ, just so long as it was at a good university, as is the case for IB.

Yep I am planning on going into Quant as soon as I graduate from Imperial maths. (still some time to go )