May be this is already discussed, and I did search for this. Just wanted to know if it is any worth getting?
I heard it’s a very quantative course, that will more or less secure your place to some good quant positions (tonnes of quant positions for Hedge Funds in CT) in the industry (ofcourse it does not replace a PHD in Math and Stats), but having it nailed down would be a good idea who are not already in the industry, just to broaden the turnpike of opportunities…
Dont let Entienne see this!!!
dinesh.sundrani Wrote: ------------------------------------------------------- > I heard it’s a very quantative course, that will > more or less secure your place to some good quant > positions (tonnes of quant positions for Hedge > Funds in CT) in the industry (ofcourse it does not > replace a PHD in Math and Stats), but having it > nailed down would be a good idea who are not > already in the industry, just to broaden the > turnpike of opportunities… Are you sure? I wasn’t aware that the CQF carried that much weight. Do you happen to have any links about this by chance?
It can’t hurt but no one’s jaw is gonna drop from seeing it and you may have to explain what it is in interviews…
haha… I hope Entienne doesn’t shoot me for what I wrote. But I think it’s a pretty good deal for people like us (‘IT guys’) to try a quant position in IBanks or HedgeFunds. I am no way going to do the CQF, since I am already pretty exhaused studying for L2 but this is what I found on the internet. http://phdmbacfa.blogspot.com/ CQF - Certificate in Quanitiative Finance CQF is a specialized certificate for all those who are interested in becoming Quants in Investment Bank. This certificate was launched by Paul Wilmott, who is considered by some as a guru in this field. The company that is organizing the exam and classes (which are integral part of the certification process and you cannot be awarded CQF designation without spending many weekends in the classroom) is 7City, which is also preparing students for CFA and other certificates. CQF designation is not very popular, but due to the fact that it is very focused it is quite prestigious in the quant environment. It has simply no competition. CFA or CAIA are by far more general and do not cover asset pricing (etc. Ito’s Lemma, Interest Rate Models) deep enough to prepare a candidate to very technical field of quantitative finance. If you are thinking about becoming a Quant CQF certificate (or more broadly - a CQF Course of Studying) will prepare you to that role. You need to remember, however, that you need very good prior math preparation in order to catch up with the course of studying. And should you do CQF if you already have PhD in Finance or in Economics? I think that it will not be very wise choice to do that. PhD is already very useful degree for Quantitative Finance. CQF is expensive (~10k pounds) and it takes time to finish it. On the other hand, if you have PhD in other discipline (like Chemistry, Mathematics) and you never did anything with finance, getting a CQF will probably open a lot of doors in IBanks for you.
http://www.wilmott.com/searchresults.cfm A lot of threads about the CQF. It is supposedly quite good. It is as expensive as the CFA though…
I’ve thought about this a bit. It seems expensive, although you can whip through it in about 6 months as opposed to 3 years. If you are comfortable with the math already, it is still a big help to hear the applications of the math to financial modeling problems. I just think it’s a bit costly in the end (not saying it wouldn’t be worth it, just saying I can’t afford it).
It’s “only” 3 grand, right?
Thank you all for your feedback. I just need to do something from this June to next June…so either its CQF, GMAT & Applications, CAIA ??? Not sure.
CQF costs $17000. I got some money now. I am just not convined it will help me make the transition yet. Almost register for it last year. Decide to go for CFA first at the last minute. Really thinking about if for second half of this year. Will I take this risk of throwing away $17K?
http://www.7city.com/cqf_fees.php?area=quants&outline=cqf&course=fees&country=uk The self-study option is 3 K. The course option is 17K. Horrifying…
I think the individual module costs 3K and there are 6 modules, so 18 K if paying module by module. I am not seeing any self-study option.
I got Paul Wilmott’s books on Quantitative Finance. They have all you will learn in CQF.
dinesh.sundrani Wrote: ------------------------------------------------------- > I heard it’s a very quantative course, that will > more or less secure your place to some good quant > positions (tonnes of quant positions for Hedge > Funds in CT) in the industry (ofcourse it does not > replace a PHD in Math and Stats), but having it > nailed down would be a good idea who are not > already in the industry, just to broaden the > turnpike of opportunities… You’re kidding right?
I can’t tell if you’re kidding… I’m with maratikus (although that’s not my favorite book). Buy a book or two and post your questions online.
JoeyDVivre Wrote: ------------------------------------------------------- > dinesh.sundrani Wrote: > -------------------------------------------------- > ----- > > I heard it’s a very quantative course, that > will > > more or less secure your place to some good > quant > > positions (tonnes of quant positions for Hedge > > Funds in CT) in the industry (ofcourse it does > not > > replace a PHD in Math and Stats), but having it > > nailed down would be a good idea who are not > > already in the industry, just to broaden the > > turnpike of opportunities… > > > You’re kidding right? No Joey, I am not aware of the true worth of this certification. I just heard it over the shoulder from few of my friends and colleagues who work in CT.
disptra Wrote: ------------------------------------------------------- > I think the individual module costs 3K and there > are 6 modules, so 18 K if paying module by module. > I am not seeing any self-study option. My mistake. I’m not very familiar with this one. The cost is quite high…it might be more worthwhile to get a Master’s degree like a MFE from a good Uni…
if it’s 18K, no way I am gonna do it. Better get a Masters degree from a decent univ.
The thing is most firms pay for the CQF. The fund where I work has said they would pay tuition if I wanted to take the course, but I agree with Dinesh that after L2, I really dont see my self starting to study for the CQF. Also, if I take into account the commute from Stamford to New York, its going to be terrible.