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#1
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Quants without phds?
How common is it to get a job as a quant without a phd?
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#2
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Re: Quants without phds?
50/50 shot, either you do or you don't.
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#3
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Re: Quants without phds?
not very common
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#4
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Re: Quants without phds?
Possibly becoming more common with financial engineering masters becoming a bit more popular, but I'm not really sure how quantitative those guys go. I've read at nuclearphynance that in a few years the masters in FE will be fairly obsolete because everyone will have them and to differentiate yourself you'll still need a PhD. (although, most of those people have PhDs so they might not be unbiased)
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#5
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Re: Quants without phds?
Depends, a quant is pretty general.
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#6
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Re: Quants without phds?
[ QUOTE ]
I've read at nuclearphynance that in a few years the masters in FE will be fairly obsolete because everyone will have them and to differentiate yourself you'll still need a PhD. [/ QUOTE ] i don't buy it. there's probably only 10-15 schools whose FE programs are worth anything on wall street, and their average class size is probably around 50. i don't see how less than a thousand people per year equates to everyone having an MFE in a few years. if the MFE becomes "obsolete", it's more likely that it'll be because everyone has a phd. |
#7
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Re: Quants without phds?
[ QUOTE ]
[ QUOTE ] I've read at nuclearphynance that in a few years the masters in FE will be fairly obsolete because everyone will have them and to differentiate yourself you'll still need a PhD. [/ QUOTE ] i don't buy it. there's probably only 10-15 schools whose FE programs are worth anything on wall street, and their average class size is probably around 50. i don't see how less than a thousand people per year equates to everyone having an MFE in a few years. if the MFE becomes "obsolete", it's more likely that it'll be because everyone has a phd. [/ QUOTE ] I can see where you're coming from. But what I meant was that before there was so few that they could easily find jobs in the industry however with more and more of them there'll be more and more competition (sort of like I imagine an MBA from Harvard guaranteed you a job at Goldman 15 years ago, now maybe not). The competition with PhDs? Not so much because there's always been PhDs coming over and they just fit it. I could be entirely wrong, though. [ QUOTE ] [ QUOTE ] [ QUOTE ] i can't program in C++ or java, or user defined macros or use complex VBA stuff so i have lost out on a ton of jobs. [/ QUOTE ] so why don't you learn? it's not that hard to be a better programmer than most comp sci majors. [/ QUOTE ] i've been learning VBA via the excel forums and some trial and error. i have a very strong matlab programming ability (though can't link it to outside sources for data) and a decent SAS programming backrgound due to my stint at dept. of labor. i wouldn't even know where to begin w/ C++/java [img]/images/graemlins/frown.gif[/img] do u have any suggestions? thanks, Barron [/ QUOTE ] This guy http://www.markjoshi.com/ seems to be relatively respected in the community of quants, and he has some recommendations on his site for books to read for all facets of quant life. |
#8
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Re: Quants without phds?
Lots of quants have PhDs, lots don't. Getting a quant job without good programming skills; that's near impossible.
There is more than one type of quant in the industry, but i think my comment applies to all. |
#9
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Re: Quants without phds?
OP, depends on what you mean by "quant". My friend who is doing 40% marketing, 30% fundamental analysis and 30% regression calls himself quant. Another one who reads VaR values all day assumes he is a quant. They are not by my definition. However, there are real quants with even with undergrad.
[ QUOTE ] i don't buy it. there's probably only 10-15 schools whose FE programs are worth anything on wall street, and their average class size is probably around 50. [/ QUOTE ] Looking at the trend you're wrong. When programs came out first, almost everybody got good jobs. I heard that U of T's program is not worth much nowadays. Only people who had PhD-s or financial experience going into the program got good jobs (and the market is not gonna be better than now). I even know someone who didn't employed from NYU...his English is crap, but still. Compare that to McGill finance PhD that had amazing placement in the industry (not so stellar in academia, but that's a different story). [ QUOTE ] i don't see how less than a thousand people per year equates to everyone having an MFE in a few years. [/ QUOTE ] Add one thousand more from non-elite schools, MBA-s with quantitative PhD-s, several thousand PhD-s with other quant major (who will not be happy working as an assistant prof for 50k), increasing software, outsourcing, and the fact that derivatives are becoming more complex. However, on the bright side if someone gets into the field now with a masters and gets good experience, he will not have to worry about PhD-s taking his job. Also, if someone wants to become a trader (that has way bigger upside than a quant), a PhD is not necessary. |
#10
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Re: Quants without phds?
so you agree with me? great.
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