Re: Quants without phds?
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while i'm happy to see that this thread got to a more productive place, eventually, there seem to be a lot of people interesting in pursuing this type of career so maybe we should be a bit more careful with our advice.
there are a number of different jobs that quants hold. mathemagician54, what type of quant position are you looking for? are you interested in building derivatives pricing models? risk models? trading models? what do you really want to do? it may be that you don't really want to be a quant at all, but a trader and in that case this thread may be on the wrong track.
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To be honest, I don't know enough to say. All I do know is that I would like to try to do something related to finance that will let me use a lot of math (not trivial things though). You mentioned trading... i had some traders from a hedge fund come to my school for an info session. I spoke with them, and they said at their firm they don't really distinguish between quants and traders because they essentially do the same thing. Is this true of most hedge funds?
The reason I asked about quants as opposed to say, traders, is that after speaking to people who may or may not know what they are talking about, I was given the impression that traders did not necessarily use very much math; rather, they just implement trading strategies that say, the quants develop. (This greatly contradicts what the traders told me from the info session, since they said traders and quants serve the same purpose at their place.)
Is what the traders told me pretty standard for hedge funds, or no?
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