baobab Wrote: ------------------------------------------------------- > I also thinking of getting MFE or entering part > time Ph.D (but this is long term goal). > Unfortunately I cannot move to New York right now > because of family reasons (I’m in DC) > So far I decided that CQF (certificate in quant > finance) is the only choice for me here… Honestly, all certifications are useless if you really want to be Quant.
baobab: I have looked at CQF also. It’s not cheap. About $18K, but definitely cheaper than MFE. I am not sure how much leverage it gives you in the market, but I am convinced that it will prepare you enough to tackle the quant jobs. I am not looking to create the next BSM model. Just understand it better.
What about the body of knowledge CQF gives you? To me it looks pretty comprehensive. I think I can study all this stuff by myself. But what I want is to get some practice insights and to refresh my memory. I graduated in 2002 so I forget lot’s of stuff. CFA/FRM exams helped to recall probability theory and statistics at some basic level.
Another one trying to make a change career… Wrote level I in Dec 2006. Just passed level III. I have an MS in Aerospace Engineering… undergrad from IIT Bombay. I have been working at a buldge bracket in IT for the past 3.5 years. Everyone tells me to go do an MBA from a top school. They say CFA won’t cut it. I once had an interview with a buy side and they asked me “what else have you done besides the CFA”. I had no answer except saying personal investments of my own… How does one get experience when no one is willing to give you a chance…
exe Wrote: ------------------------------------------------------- > > How does one get experience when no one is willing > to give you a chance… Currently the market is bad !! Banks over hire in good times and under hire in bad times I’m also trying to make a switch to finance from IT. Planning to do it by joining B-school next year and continuing with CFA.
Any of you guys played around with this: http://www.opentick.com I had to put it away when I started studying, but its a pretty easy way to get your hands on market data and run code on it with your preferred language.
I have done the move. Started in internet startup companies, moved to the IT department of an IB. Now work in the front office on a prop trading desk as a quant developer. I think the key is to be the best at what you do. If you do that, eventually someone will notice you and give you the opportunity you want. Well maybe I was just lucky. I have just passed the CFA L3 exam, I didn’t do it for the letters, or for my CV. I did it because it interested me, and I thought it would make me better at my job. I don’t think having CFA after your name will help much with job interviews, unless the person interviewing you has done a CFA exam. Most people I have met in finance (traders, IT, Quants) don’t know what it is.
tman2 Wrote: ------------------------------------------------------- > I have done the move. Started in internet startup > companies, moved to the IT department of an IB. > Now work in the front office on a prop trading > desk as a quant developer. > > I think the key is to be the best at what you do. > If you do that, eventually someone will notice you > and give you the opportunity you want. Well maybe > I was just lucky. > > I have just passed the CFA L3 exam, I didn’t do it > for the letters, or for my CV. I did it because > it interested me, and I thought it would make me > better at my job. > > I don’t think having CFA after your name will help > much with job interviews, unless the person > interviewing you has done a CFA exam. Most people > I have met in finance (traders, IT, Quants) don’t > know what it is. Do you have Ph.D?
Nope
Weried, 99% of quants in my bank have Ph.D or atleast MFE
comp_sci_kid Wrote: ------------------------------------------------------- > Weried, 99% of quants in my bank have Ph.D or > atleast MFE Yes, I would agree with you. Lucky for me, most quants can’t program for sh*t.
tman2 Wrote: ------------------------------------------------------- > comp_sci_kid Wrote: > -------------------------------------------------- > ----- > > Weried, 99% of quants in my bank have Ph.D or > > atleast MFE > > Yes, I would agree with you. Lucky for me, most > quants can’t program for sh*t. Unlucky for me, i dont know math on the Ph.D level
comp_sci_kid Wrote: ------------------------------------------------------- > tman2 Wrote: > -------------------------------------------------- > ----- > > comp_sci_kid Wrote: > > > -------------------------------------------------- > > > ----- > > > Weried, 99% of quants in my bank have Ph.D or > > > atleast MFE > > > > Yes, I would agree with you. Lucky for me, > most > > quants can’t program for sh*t. > > Unlucky for me, i dont know math on the Ph.D level I don’t classify myself as a quant, but the cross between a quant and a programmer. I would say that it is impossible to become a true quant without a Ph.D.
tman2 Wrote: ------------------------------------------------------- > comp_sci_kid Wrote: > -------------------------------------------------- > ----- > > tman2 Wrote: > > > -------------------------------------------------- > > > ----- > > > comp_sci_kid Wrote: > > > > > > -------------------------------------------------- > > > > > > ----- > > > > Weried, 99% of quants in my bank have Ph.D > or > > > > atleast MFE > > > > > > Yes, I would agree with you. Lucky for me, > > most > > > quants can’t program for sh*t. > > > > Unlucky for me, i dont know math on the Ph.D > level > > I don’t classify myself as a quant, but the cross > between a quant and a programmer. > > I would say that it is impossible to become a true > quant without a Ph.D. quant + programmer wont pay more then programmer on IT side, so i dont see how it is any better
Another one trying to make the move.
Network Engineer, Customer Network support and Manager here. mid-30s. I’m quiting my current job and heading back to school next week full-time to finish off my B.Comm Finance at a non-target within a year. I plan on writing my Level I Dec 09. My goal is to be an asset/portfolio manager.
What are some necessary credentials for MFE? I have BS in EE from UCI and currently work in IT.
I have a question to all who work already in banks/hedge funds in IT or as a quant developers. Is it really quant developers use C++ now? I have lot’s of experience in C++ and would be glad to “return back” to Ñ++/boost and use some frameworks like OpenMP. But it seems like everybody around (in IT) switched to C#/Java/Ruby/others (and so am I). At the company I work we use C# classes as wrappers around low level C code (like IntelMKL).
All quant libraries in C++ only here (Major IB)
> quant + programmer wont pay more then programmer > on IT side, so i dont see how it is any better Isn’t it one step closer to being a quant? Isn’t it a job that you may enjoy more? If you are working directly in the FO, then your bonus is tied directly to the money you and your team brings in.