Career switch from Engineering to Finance/Quant. Am I too old for this?

[Andy Nguyen]

i'm just saying that you cannot generalize about student age distributions in programs generally based on Baruch's rather skewed age distribution.

The data is out there. No need for guessing.

Average age at enrollment at MIT MFin is 23.5. Age range 20-28 (link)
Average age at enrollment at Stanford FinMath is 22 (link)
Average age at enrollment at CMU MSCF is 25-27 (link)
Average age at enrollment at UCB MFE is 27-29 (link)
Average age at enrollment at UCLA MFE is 29 (link). Age range 23-45 (profiles here)

 

[amanda.jayne]

you cannot generalize about student age distributions in programs generally based on Baruch's rather skewed age distribution.

This is a broad and unfounded assumption.

To further Ken's comments above, I can honestly say I learned more about myself during the time I spend trading prop (screen, not HFT) then I had in the 30 years prior. There is no way to fully describe what it is like the first day you go live. In my case it was the internalized raw emotion and being able to literally "feel", and need to fight, the adrenaline/anxiety/double guessing that I found exhausting - something I would only consider getting into again under very strict conditions. Despite (or inspite of?) this, its an experience I wouldn't trade for the world.

Beyond that, perhaps Ive been hanging out with Merton for too long (K. not C.)

@lordvid I don't believe I've ever directly referred to Baruch in any of my postings let alone ever cast the program in any particular light - I don't see the relevance of your statement. There are some wonderful networking innovations out there such as conferences, seminars, Quantnet BBQs, etc... and resume books tend to float around too. The 'Am I too old' topic tends to come up a fair bit and any confirmed information you have of programs that appear to favor 'mature' students may be of use to others.

I believe Joshi said "it seems to be becoming more and more common to do a masters after a PhD". I don't know that I infer that "MFEs are increasingly done after PhDs" from this.

 

[lordvid]

The data is out there. No need for guessing.

Average age at enrollment at MIT MFin is 23.5. Age range 20-28 (link)
Average age at enrollment at Stanford FinMath is 22 (link)
Average age at enrollment at CMU MSCF is 25-27 (link)
Average age at enrollment at UCB MFE is 27-29 (link)
Average age at enrollment at UCLA MFE is 29 (link). Age range 23-45 (profiles here)

I stand corrected about MIT...I was misinformed there

I can honestly say I learned more about myself during the time I spend trading prop (screen, not HFT) then I had in the 30 years prior. There is no way to fully describe what it is like the first day you go live. In my case it was the internalized raw emotion and being able to literally "feel", and need to fight, the adrenaline/anxiety/double guessing that I found exhausting - something I would only consider getting into again under very strict conditions. Despite (or inspite of?) this, its an experience I wouldn't trade for the world.

This sounds more like a high-stakes poker game, with your ego on the line in front of friends....but to be honest, I haven't worked as a trader, so I wouldn't know....

 

[amanda.jayne]

This sounds more like a high-stakes poker game, with your ego on the line in front of friends....but to be honest, I haven't worked as a trader, so I wouldn't know....

Very similar actually.

The biggest traits I found were:

Humility: Being able to admit to yourself when you are wrong when you are in the process of being wrong
Stubbornness: When you fail to take corrective action as per above, avoiding the urge to double down
Patience: Being able to accept being wrong a heck of a lot more often than you ever are right
Boredom: Finding coping mechanisms to avoid churning between 10am and 3pm when "mirages" tend to appear in the desert.
Shiny objects: Being able to identify algos on the L2 and avoiding the temptation to engage them during said hours. This is always a losing proposition.
Keystroke errors: FML
And Partial Fills: Because 12-share orders are just excellent to unwind.

For a real rush, and possibly the closest thing to no limit that I've found, trading illiquid names on the NYSE. Spreads that widen to $1 with hidden 100 share lots on the book. Single trades that hit the tape every half minute and scores of prop guys waiting for someone to make the first move, knowing most people won't get their fill when all hell breaks loose, all the while hearing the deafening buzz of the fluorescent lights. Easily the longest 2 minutes of your life.

Unfortunately, unlike poker, without a million dollar + bp it is rather hard to "bluff" in highly liquid names

 

[lordvid]

Very similar actually.

I was trying to be facetious when saying what you described sounded like a poker game....

if it really is a lot like a poker game (at least the psychological side of it), that frightens me quite a bit actually....