As a non-quant, why do people do this job in the UK when it is so competitive?

[Wonderingwhy]

Hello everyone, new user and just wanted to ask something as a non-quant.

One of my friends partner is a graduate of Cambridge maths has been struggling to get one of these jobs for a long time now. At first I thought he might have not done very well but he actually got a first and I can't see any obvious reason why he hasn't got one so I suspect it's just really competitive. I do think some of it is that he is aiming for the most prestigious companies to the frustration of my friend.

Anyway the thing I don't get is why do people go through this. I grew up in the care system and finished A-levels with 4 A* but didn't go to a particularly great uni. I would say at this intelligence level (far above average but not a genius) it is normal to be worth £1-3 mil by about 25 or 30 at absolute latest just through starting a business, investing etc and I would guess he (and most people here) is smarter than me so I don't really understand why he's going through what is clearly hell to earn £150k.

Is there any particular reason? Love of the job, love of maths, not feeling confident with self employment, it pays far more than £150k etc. Even Jane street which seems insanely, insanely competitive is only paying £800k which is obviously phenomenal compared to the average UK salary but when you consider the sheer level of difficulty of getting one of these jobs it is awful

 

[indexquanty]

I would say at this intelligence level (far above average but not a genius) it is normal to be worth £1-3 mil by about 25 or 30 at absolute latest just through starting a business, investing etc

ummm most people in the UK dont go their whole life being worth this much. it most certainly isnt 'normal'

Level of wealth - Social Mobility Commission State of the Nation - GOV.UK

social-mobility.data.gov.uk

 

[Wonderingwhy]

Sorry I may have been unclear. Obviously it is not remotely possible for the average person but the selection process for quant jobs seems so competitive you're not getting one being remotely average. I think amongst very intelligent people (not geniuses) it isn't hard to become a millionaire by about 25-30. I did it at 26 and came from a terrible background, I have a friend who did it at 21, another who is worth £20 mil at 35 etc.

My friend has struggled so much getting one of these jobs and I'm wondering why he keeps trying instead of doing something else.

 

[Andy Nguyen]

If he has terrible expectation and unrealistic view of the industry, he shouldn't aim for the type of jobs that get a 0.1% selection rate.
There are plenty of fullfiling jobs for better than average smart people to make a living. Chasing after $$$ is not the answer.