I am specifically talking about roles that require programming and not gigs where programming is a nice touch to have.
Aside from the role itself can you elaborate on the role programming plays in that specific role and what other skills should a typical applicant have for it ?
Sam, why don’t you consider focusing on software/tech roles? Instead of finance roles that require programming skills.
Take the CFA so you can break into IT
I am doing just about that.I am focusing on AI & ML since my school is very famous on its research within these two fields. I do like to enter the financial sector at some point though. I have seen quite a few BSD types( banking specifically) who entered the industry as scientists and whatnot.
Your best shot as a scientist-financier is to study statistics and work for some hedge fund doing data analysis, or use PhD to become a quant in derivatives or other model building. Either of these assume high tier quantitative PhD qualifications, but will pay you $200k to start and probably $500k after 5-6 years. Anyway, the flaw in the scientist-finance program is that you have to actually be successful in science first. This is hard to do unless you actually want to be a scientist (even if you later get jaded and quit).
There are some professors in AI and such who start hedge funds. I don’t think many of them are successful - it’s not like they care. They have tenured professorships to fall back on. I’m not sure if it’s because the idea is not practical, or the professor just doesn’t spend time on the business. It’s better to be a Martin Scholes and charge high fees for consulting, rather than commit to your own company.
Anyway, I think any job that is in any way quantitative (trading, risk management, whatever) is enhanced by programming knowledge. It’s not “required” in many cases, but if you’re the only candidate who can’t program, I don’t think you will receive proper consideration.
^ Actually I am doing the Mathematics route( stat track).Do you think a decent masters will do the job ? Phd is kind of a very long shot for me given that age is not one my advantages.However a masters in CS/Stat is what is on my mind right now. Thanks Ohai.
where is Itera when needed
Just my opinion - highest expected payout for you is to do the CS Masters, then be a developer, hopefully for hedge fund or market making firm. Maybe a bank if it’s the right division. If not, then skip finance and work for tech company. In the finance-tech scenario, you can probably make more than in a tech company for the same skill. You just have to be ok with not being in FO. In any case, the programming background makes you eligible for six figure jobs in many companies.
The problem with normal finance jobs of the FO type is that they have recruiting channels. For quant work, it is easy to afford PhD people. For entry level work, they want young kids who can tolerate abuse and extreme bull shit. They will reject any applicant who they think is not a mindless drone. I have been on hiring committees, and all the people I like are rejected because people think they are “too mature”. Otherwise, there is the MBA route (which is like a more senior version of the above process).
The “slightly skilled” segment of job seekers is hard to place in finance. If you have a CS Masters by then, most likely, the entry level finance jobs you can get will throw away your best asset, which is the programming ability. There are some exceptions of course. However, the low probability of landing a finance job that dominates alternatives means you should still plan for a backup career.
Finance and Accounting was too narrow for a Non-US citizen who wanted to work in finance and was a bit older. That’s why I took the golden advice someone gave me and went to do mathematics. My hands are not tied by any means unlike the past so I am more flexible now. Hopefully I will follow this route.