Aerospace Engineer To Quantitative Analyst?

[Deji]

Hello to everyone. I am new to the forum and would like some candid feedback. So, I have been contemplating and have finally decided to switch careers from being an Aerospace Engineer to a Quantitative Analyst. I currently work as an Aerospace Engineer for approximately 3 years now and hope to complete my PhD in Aerospace Engineering by July 2012. My background is in Computational Fluid Dynamics (CFD), fluid mechanics, solving partial differential equations, programming in C++, Fortran, and MATLAB using numerical methods. I currently attend the University of Maryland, College Park and our Aerospace Engineering Dept. renown, it is ranked in the top 10 in the country. I should graduate with a GPA of atleast 3.85 for my PhD. And afterwards, I am hoping to gain entrance into an Ivy League school (Brown University) Applied Math Program for a Masters Degree. I concluded that with my PhD in Aerospace Engineering from a top 10 program and an Applied Math degree from an Ivy League would put me in a really good position to make the career change. Hopefully I graduate with a 4.0 if I do gain entrance into Brown.

So what do you guys think? Is this a feasible plan?
And by the way, I did get an M.S in Aerospace Engineering from the same school with a 3.50 GPA.

Deji

 

[-Bryan-]

I am interested in connecting with you on linked in, how do i send you a private message. I am currently in the aerospace industry and am eyeing quant finance. I am wondering if you could get into a quant position after your phd.

 

[alain]

So what do you guys think? Is this a feasible plan?

IMHO, I think you are going to be wasting your time. If you want to switch after the PhD, go for it. You should have enough skills and knowledge.

 

[Joy Pathak]

No need for the math degree after.

 

[Deji]

So you guys think getting an additional Masters subsequent to the PhD is of no use? I would think that the Masters in Applied Math would greatly help improve my Math skills, which is a must in the quant field.

Hey there Brian, you can just send me a message on here. Someone else sent me one, and we have messaged each other.

 

[alain]

So you guys think getting an additional Masters subsequent to the PhD is of no use? I would think that the Masters in Applied Math would greatly help improve my Math skills, which is a must in the quant field.

if you think that's better for you, it probably is. Just go for it.

 

[euroazn]

January... May... September... Next post is in December.

 

[Deji]

LOL, you are indeed funny euroazn. So are you doing a Masters in finance & math at CMU?
I no longer have any interest in going to Brown, and then thought of Harvard. But, I changed my mind from even applying to Harvard. So I am seriously looking at Johns Hopkins Applied Math program. I like this program and the courses they offer, I would like to take courses in probability theory, stochastic processes, and some elective finance/financial math courses at JHU. It is a big name school with prestige, and it seems they have some influential people associated with their Applied Math program. So what do you guys think about JHU? I think highly of the school, and would think most do as well, Bloomberg and Geithner went there. I bring this up to get anyones feedback on making that transition to the quant field after JHU.

Lastly, I just read that a professor from the University of London will become a visiting professor at the JHU Applied Math graduate program, and she seems to be a big in the quant, finance world.

 

[quotes]

Fluid dynamics is a much more complex field than pricing derivatives.
I feel like you are dropping a finance career for an accounting one.
Derivative pricing (quantitative finance) is really not that hot given your math background.

If you really need to make a fortune through financial market, I suggest you pursue a PHD in statistics econometrics, etc.
Maybe you can combine chaotic equation with data mining methods to predict the price, which might be far more profitable than derivative pricing and arbitrage. The most successful hedge fund Renaissence makes money the former way.

It will be less than ten years before B-S formula as common place as Asset=Equity+Debt.
This business is no longer as profitable as before. Easy gold has been digged and now we are digging extremely hard to earn a living.
Seriously.

 

[donny]

I second alain's first reply on this. I feel that if you have a PhD in Computational Fluid Dynamics and have been solving partial differentiation equations to get there, using C++ and Fortran no less, your knowledge and intellect should be sufficient for most quant position. I guess now its a matter of whether you can show your interest in the business. I'll skip the masters.

Alternatively, an argument for you to pursue more quant-related math, something above beyond PDEs comes from the fact that now, most people already know what was considered highly-prized knowledge 10 years ago, aka. BS, derivative pricing and maybe even statistical arbitrage. My take on the situation now is this: Like what quotes said...

combine chaotic equation with data mining methods to predict the price, which might be far more profitable than derivative pricing and arbitrage. The most successful hedge fund Renaissence makes money the former way.

The more advanced HFs or Quant funds, I'm talking 20% YTD returns, are using way more advanced methods, some of which I feel are not out there and are only known by those in the firm. Thus, there is a justification for in-depth study in a highly specialized area in math. To developed your theory to make that 20% and become, or join, one of these few. I doubt James Simmons could have done what he did without his 10 or so years doing research in differential geometry.

 

[SKLahiri]

My background is also in Aerospace Engineering (CFD, FEA etc.)

I completed my PhD, form a top-tier school. I work as a R&D Engineer, for the past 5yrs after PhD. I feel very motivated in problems in quantitative finance like derivative pricing, risk prediction, time-series analysis. I have no other background in finance, other than reading a few books (beginning chapters of books by Hull, Neftci etc.) and some personal trading. My work and my research training in very computational in nature ... C/C++ and Fortran progamming, MatLab and a lot of applied mathematics. Most of the expertise is in partial differential equations (commonly encountered in solid of fluid mechanics) and recently learning stochastic differential equations.

I would like to seek suggestions on:
1. I think I enjoy studying and playing with algorithms in diverse problems. Is a quant jobs career-change advisable ?
2. What would you suggest my preparation be ? (MBA, MFin etc.)
3. Should I be aiming at entry level positions or mid-level ? A brief idea of a starting position would be helpful. (Company, work assignments, challenges etc.)

Please reply.

 

[IlyaKEightSix]

I believe Sylvain Raines (sp?) should have a great deal of advice on this. Wasn't he an aero engineer prior to quanting?

 

[Jayanthan]

I am an Aerospace engineer as well with bachelor's degree. I am no longer interested in engineering and looking forward to make a career change to Investment Banking.

Deji!!! I don't think that you need anymore degree. I've heard people in IB and quant finance position with engineering degree. I would just try to find a job rather than getting more degree. You should try with Renaissence HF. They do hire computer programmers. Good luck.

January... May... September... Next post is in December.

Seems like you are pretty good at observing pattern.

 

[marina]

I am an Aerospace engineer as well with bachelor's degree. I am no longer interested in engineering and looking forward to make a career change to Investment Banking.

why are you not interested in engineering. are you working in engineering industry?

 

[Jayanthan]

Yes!!! I am . It is not intellectually stimulating field (Your project is very long term in the industry. you won't see the real outcome for a while.)

 

[darth]

Yes!!! I am . It is not intellectually stimulating field (Your project is very long term in the industry. you won't see the real outcome for a while.)

What is so intellectually stimulating in finance which is not there in aerospace engineering

 

[Jayanthan]

What is so intellectually stimulating in finance which is not there in aerospace engineering

I've been doing the same stuff everyday. No challenge at all, no people interactions at all. I want to sell something to make difference.I love to make deals. I always want to be on race.

Thank you Bullion!
I really appreciate your suggestion. I am not into quant yet. I keep my options open and still exploring. "Stay hungry, Stay foolish"

 

[marina]

Yes!!! I am . It is not intellectually stimulating field (Your project is very long term in the industry. you won't see the real outcome for a while.)

don't tell this to recruiters/hiring managers. tell them you are interested in finance blah......

 

[Jayanthan]

don't tell this to recruiters/hiring managers. tell them you are interested in finance blah......

LOL

 

[Ken Abbott]

I've been doing the same stuff everyday. No challenge at all, no people interactions at all. I want to sell something to make difference.I love to make deals. I always want to be on race."

Jayanthan, I have bad news for you. Quant finance is not about selling anything or making deals. If that's what you like, get an MBA.