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Search results

  1. E

    Career Perspective at firms like Teza/Headlands/Eladian

    For entry-level quant position, how to compare the career perspectives of the following three categories: 1) famous hedge funds (e.g., Two Sigma/DEShaw/Citadel) 2) relatively established prop shops (e.g., Getco, Hudson River Trading, Jump Trading) 3) new shops (Eladian Partners, Teza...
  2. E

    Is headhunter's commission proportional to the offer?

    Thanks for the input! How about entry-level candidates? Do headhunters get a fixed amount of commission for placing an entry-level candidate? Or their commission also depends on the offer rate? In other words, is using headhunters a negative thing for negotiating the offer?
  3. E

    Is headhunter's commission proportional to the offer?

    Or headhunter's commission is a fixed number for a certain level of candidates, *regardless* of the details in the final offer?
  4. E

    Do companies really contact every professor in our references?

    For students, most our references are from professors. For companies who ask reference contacts from us, will they really contact every professor we list as references? If 10 companies asked me about references, will each professor be contacted 10 times? This is kind of crazy ... professors...
  5. E

    Use headhunders vs. apply by ourselves?

    Oh I see. I guess I didn't make my question clear. For positions that we cannot find by ourselves, certainly we need to work with HH. The main question is for companies that list their openings online (e.g., twosigma, deshaw, worldquant). I'm asking because many times HHs contact me but the...
  6. E

    Use headhunders vs. apply by ourselves?

    Nice points ... I guess it's really difficult to spot such a "good" HH ?
  7. E

    Use headhunders vs. apply by ourselves?

    Nice discussions. Thanks. Since the company needs to pay HH, does it mean: 1) if two candidates are approximately same good, then they will take the one that applies by herself to avoid the extra payment? 2) those who apply by themselves are easier to negotiate a better starting package since...
  8. E

    Use headhunders vs. apply by ourselves?

    Thanks for the input. So one possible benefit is "a larger chance to get the first-round interview". Is there other benefit? e.g., can headhunter help us negotiate the package in a way that we cannot do by ourselves?
  9. E

    What should a buy-side entry-level quant offer look like?

    Say, a real quant researcher or quant strategist offer. 90k ~ 150k base, and then ... Sign-on bonus? Guaranteed Bonus?
  10. E

    Use headhunders vs. apply by ourselves?

    Could you elaborate on this? Thanks!
  11. E

    Use headhunders vs. apply by ourselves?

    For companies who already posted their openings on their websites, what are the benefits / risks of using headhunter (instead of applying by ourselves)? e.g., two sigma post all their openings on the website and also has a number of campus recruiting events, yet quite a few headhunters...
  12. E

    A way to get MS Computer Science for FREE

    A fully funded master program is difficult to find. The reason you get fully funded in your program is because you work for your department/advisor (i.e., you provide enough values). A master student isn't that valuable as a worker, since he needs most of his 1.5-2 years finishing his own study...
  13. E

    A way to get MS Computer Science for FREE

    I'm not sure what kind of fully-funded programs you can get in. I will be more worried about getting in such a program before I start thinking about how to get off ... Also, not sure what a master degree from a third-tier CS program can give you (if you already have a reasonably decent...
  14. E

    A way to get MS Computer Science for FREE

    In a fully-funded CS program, you pretty much is financially supported by your advisor. If your advisor is not happy with your performance and/or you doing part-time job, he can stop your funding anytime he wants.
  15. E

    A way to get MS Computer Science for FREE

    1. It's not the "right" thing to do. 2. A fully funded PhD program is MUCH more difficult to get in than a Master program (the number of openings in a fully-funded PhD program is just too limited). As a result, you might be able to get in a top 5 master program, but only a top 50 PhD program...
  16. E

    Career advice needed badly

    Good to know. Thanks!
  17. E

    Career advice needed badly

    Hi Andy, Although most entry-level positions are quant developers, there should still be some entry-level quant research positions for people like bigband, right? Also, perhaps I am wrong, but I feel that quite a few headhunters are still interested in entry-level candidates (although...
  18. E

    bank vs start up

    Perhaps these people are qualified for IT jobs but not for quant jobs since the beginning. This is quite common. But it may not apply to provisos. Provisos is a machine learning PhD who already got a bank offer. I'm not sure what high-tech offer he/she has, but it must be some kind of machine...
  19. E

    bank vs start up

    I agree with alain. Openings at finance firms will not disappear as long as you have your skills, while a good start up that matches your expertise and interests does not come along very frequently. I think a key question is how good is that start-up opportunity ... well this is hard to...
  20. E

    For those who Planning to work at Asia

    99% people in China can speak Mandarin, while only people born in HongKong, the vicinity of Canton, and a few areas in southern China can speak Cantonese (but they can also speak Mandarin, too). Mandarin is the universal language in China, which is *required* to be used as the official...
  21. E

    What laptop do you have?

    IMHO, there is not many options. I feel Mac is great for personal entertaining but might not be the top choice for a working laptop, especially if you consider the budget. For PC laptops, Thinkpad seems to be the only choice left. Some people said the quality of Thinkpad is no longer as good as...
  22. E

    Top 10 hedge fund managers earn over $153bn for investors

    Nice. How many of them are quant hedge funds?
  23. E

    Engineering PhD switching to MBA Finance

    First, your chance for a decent MFE program is much better than that for a MBA program. Second, an EE PhD from Caltech is highly appreciated in quant finance. You can even stay in your PhD program a few years (and get a Master degree from Caltech) and quit when you find a full-time quant job...
  24. E

    US College closes oversea MBA program due to rampant cheating

    I guess Andy was talking about both Q and V (a 800 Q score, and a high V score). The 800 part is about Q. It is true that the correlation between the GRE verbal score and the actual English skill is not even close to 1.0 .... But on the other hand, suppose you and I have the same level of...
  25. E

    US College closes oversea MBA program due to rampant cheating

    Some small comments about GRE Q tests ... 800 Quantitative GRE is indeed very easy ... many foreign educational systems do emphasize math/phy/engineering subjects even in middle schools. Actually the GRE Quantitative tests are basically the junior-middle school level Math in countries like...
  26. E

    US College closes oversea MBA program due to rampant cheating

    Two comments: 1) students in US just have "smarter" way for cheating and plagiarism, e.g., "group discussion", which is "officially encouraged" and "highly effective". 2) You are probably biased and doing "selective sampling" on your observations. It's actually a fun topic. US students are...
  27. E

    Google stops censoring web for China

    What is the true reason that Google decided to quit from Chinese market? Business is business, so I guess the leading reason is still the fact that Google is currently not making big money in the Chinese market and it is difficult to beat Baidu in the near future in China. Also, on the other...
  28. E

    number of CMU graduate

    A MFE ranking has nothing much to do with the B-School ranking / Math ranking (or weakly correlated at most). Havard has a top B-school, but its MFE ranking is .... there isn't a MFE at harvard. Also, as a MFE student, you are not trying to be a professor at B-school or Math dept.
  29. E

    Hope for a future democratic China

    Let's follow your theory and see what we can derive .... ============================ Goverment A provides people with "economic development", so the people have become sympathetic towards A. Goverment B provides people with "developed economics" and "freedom of expression", so the people...
  30. E

    Hope for a future democratic China

    I second that. I'm from China. ---------- Post added at 02:59 AM ---------- Previous post was at 02:33 AM ---------- This is so ... narcissistic, my friend :) I'm from China and I like a lot of things in US. But I do will turn back. Personally I believe our goverment has done a great...
  31. E

    Anyone know the Hagan-Ricci Group (HRG)??

    Is this headhunter good? I got their call a few days ago. I went to their website, and found all their posted jobs have incredibly high salary. Any suggestion welcomed. Thanks!
  32. E

    Quants in Credit Risk Analysis/Modeling

    Usually when I google job posts, there are some junior quant positions related to "credit risk analysis", where the main function is to develop statistical models for credit ratings. This can be fun, just as developing statistical models to predict users' ratings on...
  33. E

    MIT MFin

    shutdown because ... nobody willing to pay the high tuition and end up with jobless.
  34. E

    What will happen on the buy-side?

    Thanks. What is the difference between hedge funds and those traditional/conservative shops? Especially in terms of quant skills they use. Or .... traditional shops such as blackrock/BGI don't use quantitative staff ...?
  35. E

    What will happen on the buy-side?

    Recently a lot of people are discussing GS/MS as a commercial bank and one of the possible result is the restriction on leverage. Then what happen is: less profit due to low leverage --> less bonus for everyone. But what will happen on buy-side firms such as hedge funds?
  36. E

    Bad time to get into financials?

    In the recruiting process, are these experienced quants from the falling banks directly compete with the fresh graduates from schools? Or most companies have clear planing that "we want 3 high-salary experienced guys and 2 cheap fresh graduates" and thus these two groups of candidates will not...
  37. E

    Do hedge funds or similar require citizenship for job application?

    It is said that only IBs will consider international students, while buy-side units such as hedge funds require citizenship and will not support international students. It that ture?
  38. E

    OR PhD and master's for FE

    On the one hand, as an old saying goes, where you sit determines what you see (and think). In other word, people always tend pay more attention on what we want to see, and tend to believe what they want to believe --- I call it people's nature of "selective observation" --- this is also why you...
  39. E

    OR PhD and master's for FE

    Don't waste your time to argue this. OR students will emphasize the importance of OR, while Phy. students will argue for Phy. For this sort of question, it is just the group you are staying determines your perspective.
  40. E

    Seek beginner's book on equity research and portfolio management

    thanks for suggestion, this one should also be one of the candidates. but some people told me this one is classic ... but dry ... also, since it is published on 1999, will it be a little outdated? 3ks
  41. E

    Seek beginner's book on equity research and portfolio management

    Anyone can recommend some material? Some possible choices are listed as follows. The third one is actually a financial economics book with concentration on stocks, so its table of contents looks pretty comprehensive. 1) Quantitative Equity Portfolio Management (McGraw-Hill Library of...
  42. E

    EE Ph.D. seeks advice

    my 2 cents before DominiConnor gives the correct answer ... I guess straight quants mainly correspond to those working on derivatives in IB (sell-side quants), while algo.trading quants are those working on hedge funds (buy-side quants). The techiques used by them are different: the former...
  43. E

    Several books about trading systems/strategies

    This's really a good suggestion. On the other hand, talking to an actual trader has no contradiction with first knowing some basics of algorithm trading from books. At least I need to know what to talk about :) Thanks! BTW, you remind me that the most important thing for entering the wall...
  44. E

    Several books about trading systems/strategies

    I'm looking for my first book on trading systems/quantitative trading strategies, here are some candidates: New Trading Systems and Methods (Wiley Trading) by Perry J. Kaufman (2005) The Encyclopedia of Trading Strategies by Jeffrey Owen Katz and Donna L. McCormick (2000) Technical Analysis...
  45. E

    What knowledge is important for algo. trading or equity research?

    Many thanks for the information! Hope the book you mentioned will be published soon. I can find a few recent books on portfolio management/optimization, but none of them received positive rating consistently at amazon. For books in algo. trading, things become even worse.
  46. E

    What knowledge is important for algo. trading or equity research?

    For a statistics/computer science guy to find a junior position in 1) algo. trading or 2) quantitative equity research (yes, I know they are two different positions, but both of them need statistics and programming to analyze large-scale data set), what knowledge/skills are important (in...
  47. E

    Two books about Econometrics

    Thanks! What is the difference between "econometrics for finance" and general econometrics? I know the first book I listed is excellent as a general econometrics book, but I don't know if it is the best entry-level choice for finance folks. Also, Tsay's book seems very popular in finance...
  48. E

    Quants in buy-side and sell-side

    Great. Thanks, ljp99. Are buyside quants divided into front/middle/back offices? If so, risk management is in the middle office while portfolio management is in the front office? BTW, database is IT support? Or they also do analysis work? Thanks, again.
  49. E

    Two books about Econometrics

    1) A Guide to Econometrics (by Peter Kennedy) 2) Introductory Econometrics for Finance (by Chris Brooks) I want to choose one from the two books. Any comment on these two books? The first one is highly appraised as a general econometrics textbook, while the second one seems to be designed...
  50. E

    Quants in buy-side and sell-side

    "Buyside quants heavily on empirical finance, AI and statistics", I'm really interested in this type of quants you mentioned. Do you mean the quants working on quantitative portfolio management? Otherwise, what's the buyside quants you mentioned if neither portfilio optimization nor algo...
  51. E

    Quants in buy-side and sell-side

    Hi Aoglobalent, I also have heard about the fifth class of quant you indicated. Somebody call them "the core quants". It seems that we (graduate students) cannot be such core quants: I heard that most core quants are established professors in math/stat/phy/finance.
  52. E

    Quants in buy-side and sell-side

    Thanks. Yes, I realized that such a question is hard to answer. Actually, what I really care about is not the exact number of salary, but the career path for an engineering/science student on these different tracks. Well, this is also a hard question ...
  53. E

    Find a job without internship experience?

    Sadly, there is a real dilemma for people like me ... 1) people always say, if you quit your PhD at MS level, you will not get a decent quant job because a MS in CS can only get a quant developer position. 2) people also say, most of the knowledge you get from you CS PhD degree is not useful...
  54. E

    Find a job without internship experience?

    Unfortunately, this is a job about machine learning and data mining research, since I didn't think about hunting a finance-related internship at the time of applying summer intern. Anyway, I'm still hoping that the project they will give to me is something related to finance, e.g., statistical...
  55. E

    Find a job without internship experience?

    I really appreciate your reply ... valuable information!
  56. E

    Find a job without internship experience?

    Andy, thanks! I mentioned Yahoo! just to indicate that I cannot go to any finance internship this summer. For example, I mentioned the internship position you post, which is soooooooooooooo good. But I even cannot try, because I already accept the summer intern at Yahoo! :( So, what I mean...
  57. E

    Find a job without internship experience?

    I'm a student from a top CS program, and will get a master degree in 2009 (but in fact this is a PhD program, the master is just a mid-way degree). My research is on machine learning and statistical data analysis. I'm considering the possibility of finding a quantitative finance job in 2009...
  58. E

    Quants in buy-side and sell-side

    Consider the following types of quants, if quant not only refers to type 3): 1) Quants in hedge funds, doing statistical arbitrage/high frequency trading 2) Quants in hedge funds, doing quantitative asset/portfolio management 3) Quants in front desks of IB, doing derivative pricing 4) Quants...
  59. E

    Columbia MSOR some truth about the Columbia MSOR

    I'm very interested in the comparison between Princeton MFIN vs. other OR programs. Since you are from Columbia MSOR (i judged that from your posts), perhaps you can provide some information about this.
  60. E

    Is John Hull's book a must-read for quants not doing derivative pricing?

    e.g., for quants concentrating on quantitative portfolio optimization and management 3ks
  61. E

    COMPARE Princeton MFIN vs Columbia MSOR

    Generally, is Princeton's MFin program as good as Berkeley/NYU/CMU MFE?
  62. E

    COMPARE Princeton MFIN vs Columbia MSOR

    Generally, is Princeton's MFin program as good as Berkeley/NYU/CMU MFE?
  63. E

    Difference between MFin & Financial Engineering

    M.Fin program, especially the M.Fin program @ Princeton, is essentially a quantitative finance program, but with more extensive tracks in addition to derivative pricing. (When we talk about the M.Fin program that can be compared to MFE@Berkeley/CMU/NewYork/Baruch/etc., I suppose that we are...
  64. E

    MFE Programs for Asset Management/market microstructure???

    Thanks;) In fact, most people suggest me to continue my CS PhD program. Yes, I can also take some classes from the MFE program in my university (CMU). It's a pity that only Princeton's program has a separate track (and thus enough courses) for Quantitative Asset Management and Macroeconomic...
  65. E

    PhD in CS VS. Master in CS + Master in Finance

    Thanks for the reply and your time. Sometimes it really painful to make a balance between "to study what you are better than others/what you are really interested in" and "to study what is obviously useful for finance". PDE/stochastic calculus are forever in quantitative finance, but they are...
  66. E

    MFE Programs for Asset Management/market microstructure???

    Thanks. For applying regular finance programs, perhaps my background is too weak in that I'm completely a quantitative guy ... major in computer software in undergraduate and statistical machine learning in graduate school.
  67. E

    PhD in CS VS. Master in CS + Master in Finance

    thanks. You are right. a lot of CS researchers are not working towards a good algorithm that works well on real-world data. What they do is to design an algorithm, and then to FIND SOME DATASETS ON WHICH THE ALGORITHM WORKS ...... as a result, most knowledge I can get from the PhD might be...
  68. E

    MFE Programs for Asset Management/market microstructure???

    Thanks! I agree. This is why I want to find some MFE program with a separate track for asset management, rather than a statistics program.
  69. E

    PhD in CS VS. Master in CS + Master in Finance

    Thanks for your information. I mentioned portfolio management OR algorithmic trading because my quantitative background (statistics, machine learning, AI, etc) is useful in these tasks. On the other hand, derivative pricing is not suitable for me since I'm not expert in PDE and Stochastic...
  70. E

    PhD in CS VS. Master in CS + Master in Finance

    Thanks for suggestoins. I am mainly interested the quantitative roles in finance who mainly use statistical data analysis and machine learning. So perhaps asset/portfolio management or high-frequency automatic trading correspond to such roles. To choose different programs/degrees, I am also...
  71. E

    MFE Programs for Asset Management/market microstructure???

    btw, the master in finance @ Princeton is essentially a quantitative finance program (i.e., MFE program). The only difference is that their courses are more extensive to provide a separate asset management/microstructure forcasting track in addtion to the traditional derivatives pricing/risk...
  72. E

    MFE Programs for Asset Management/market microstructure???

    thanks. statistical machine learning and data analysis is my interest and my current research in the phd program. This is why I consider the second career track rather than the first one.
  73. E

    PhD in CS VS. Master in CS + Master in Finance

    thanks for reply. btw, i'm already in a phd program. my choice is 1) to finish it or 2) to leave with only a master degree and go for another MFE.
  74. E

    MFE Programs for Asset Management/market microstructure???

    Somebody divides quants as two broad categories: one in derivatives pricing/risk management and the other in quantitative equity/Asset Management/market microstructure. These two kinds of quants use different skills: the first needs more Stochastic Calculus and the second relies more on...
  75. E

    PhD in CS VS. Master in CS + Master in Finance

    Which of the following two backgrounds is more competitive for a decent quantitative position at Wall Street (e.g., portfolio management or automatic trading)? 1) PhD in Computer Science from a good CS program, major in machine learning and statistical data analysis. 2) Master in Computer...
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