Advanced Degree Paths into Trading - Page 2

JJSCOTT2 · #11 10-22-2007, 10:33 PM

Using HS as an acronym for both high school and high stakes confused the [censored] out of me. I was like, why couldn't Sklansky beat a high school poker game?

whyherro · #12 10-22-2007, 10:46 PM

I couldn't agree with stephen more. While not terribly familiar with quant trading strategies, I do know a bit about the backgrounds of friends that got recruited at these places. Out of college these were pretty much the kids who were phenomenally smart, lots of people who went to the math olympiad, etc. From what I understand for older people, its frequently people with PhD's in physics, math and compsci.

PRE · #13 10-22-2007, 10:57 PM

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""They were probably lucky and if they were in high school now, they'd be going to college""

Well they didnt then,arent now in college,and what does that matter anyway after their proven LONGTERM success,...oh and BTW your right they were lucky...lol

I just dont understand how a young college grad,is going to defy the gravity of WS,and argue his math degree with someone who has almost 20 years experience

""Just about any reasonably intelligent person can learn any number of quantitative/numerical methods and become a "quant" - intelligence largely separates those who apply them correctly from those who those who don't""

This has NEVER guaranteed a great trader...it helps...but NO guarantee

[b]"""I'd say that "it" is mostly intelligence, luck and a few other auxiliary abilities that allow one to utilize that intelligence. Most people way overestimate the importance of factors other than intelligence and motivation in success."""

OK...so you and the other 5000 applicants begging for the same job,have it all figured out.Thats why the Big Boys...all have the same basic starting package/salary/working 80+ hrs a week for years,hoping/praying that YOU get "lucky" like my HS grad. friends....LOL!

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I'm having trouble believing you're older than 9.

Foghatlive · #14 10-22-2007, 11:43 PM

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I am however amazed at the # of posts/replies that just emphasize the numbers/math side of the game when approaching their schooling/degrees to become a trader.

SF

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I believe that because this is DS's page, math is over-emphasized with regard to everything, especially poker.

I enjoy reading this forum, but, from the posts, you'd think that crunching numbers is all it takes to be a great poker player.

stephenNUTS · #15 10-23-2007, 03:51 AM

[ QUOTE ]
[ QUOTE ]

I am however amazed at the # of posts/replies that just emphasize the numbers/math side of the game when approaching their schooling/degrees to become a trader.

SF

[/ QUOTE ]

I believe that because this is DS's page, math is over-emphasized with regard to everything, especially poker.

I enjoy reading this forum, but, from the posts, you'd think that crunching numbers is all it takes to be a great poker player.

[/ QUOTE ]
[img]/images/graemlins/cool.gif[/img]

stephenNUTS · #16 10-23-2007, 04:48 AM

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Using HS as an acronym for both high school and high stakes confused the [censored] out of me. I was like, why couldn't Sklansky beat a high school poker game?

[/ QUOTE ]

I wont even touch that one,
but the analogy did make me laugh

SF [img]/images/graemlins/smile.gif[/img]

allaboutmyfetti · #17 10-23-2007, 12:09 PM

Not to hijack, but is there any sort of ranking of MFE programs around? I can' seem to find one ... do they just not exist because the programs are so new?

stinkypete · #18 10-23-2007, 03:04 PM

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Not to hijack, but is there any sort of ranking of MFE programs around? I can' seem to find one ... do they just not exist because the programs are so new?

[/ QUOTE ]

there's one here:

http://www.global-derivatives.com/in...&Itemid=36

but it's a bit dated.

i'm currently in the mfe program at cornell, so if you have any questions i can try to answer them.

allaboutmyfetti · #19 10-23-2007, 03:10 PM

stinkypete - PM sent (ignore my first one though).

ImBetterAtGolf · #20 10-23-2007, 10:00 PM

[ QUOTE ]
thanks for the replies. my conclusion:

-getting trading job straight out of undergrad is best route, since first year on job will be really useful and a learning experience in itself

-PhD unnecessary/too much time unless i was actually interested in it in itself

-would probably only try to get MS if can't get any good offers, in order to boost credentials

[/ QUOTE ]

This is pretty logical. All four of the options listed can work, but you laid it out nicely. It's hard to argue with the value of getting actually work experience; if it is good enough, you never have to take the time to walk down the other paths.

A few additional thoughts:

1. Getting the right type of experience is very important. Try to get a position with a high quality firm as close to the firing line as possible. It's hard to know what the hot area will be in a couple of years, so maybe it's best to emphasize right firm and right job rather than specific market segment.

2. While in school, get the highest grades possible. if it's too late for that or you just can't do it, it is going to be tougher.

3. I don't know how much the prestige of a school is related to the quality of the education, but it definitely affects the likelihood of landing a good trading job out of college. If you don't attend a school that is a feeder to Wall Street or hedge funds, start figuring out how to get to know people in the industry. The price you pay for not being at a "top" school is that you have to fight harder to get on the interview circuit. If you aren't a senior, get a summer job in the business, it will help you know which end is up when you do interview as a senior.

4. You ask if the senior guys at hedge funds have advanced degrees. Not aware of any survey, but my own experience is that that is mostly true and certainly true in the quant world. Nevertheless, it isn't a requirement.