Do you need a master?

[jetpotion]

In order to secure a internship do you need to have a masters in a respected math major first? Do employers take bachelors? Or do they only just take MFE AND PHD....

 

[evan guggenheim]

If you've read some of the articles about "the day in the life of a quant", you would see there are stories of people in undergrad talking about their internship experiences. I think you're asking the wrong question; a more precise question would be - Do non-target bachelors have the ability to secure an internship? I don't know any personally, but I'm sure there are some out there and I would bet they networked like crazy.

So to to simply answer your question…. yes.

 

[jetpotion]

If you've read some of the articles about "the day in the life of a quant", you would see there are stories of people in undergrad talking about their internship experiences. I think you're asking the wrong question; a more precise question would be - Do non-target bachelors have the ability to secure an internship? I don't know any personally, but I'm sure there are some out there and I would bet they networked like crazy.

So to to simply answer your question…. yes.

what happens if you got your master at a non target as well?

 

[evan guggenheim]

what happens if you got your master at a non target as well?

I think i depends on a combination of things at that point, such as: what the major is, what non-target you went to, are you sociable? Networking will always have to come into play, and have you been acquiring new skills/ sharpening old skills to show employers you know what you're doing? I think one of the major things that is key to the industry, which is not emphasized enough on this site is critical thinking skills, if you have strong reasoning and critical thinking skills you are golden in my opinion (this can be strengthened with practice and time). Obviously you have to have the other skills as well, (programming, math, and finance).

 

[jetpotion]

I think i depends on a combination of things at that point, such as: what the major is, what non-target you went to, are you sociable? Networking will always have to come into play, and have you been acquiring new skills/ sharpening old skills to show employers you know what you're doing? I think one of the major things that is key to the industry, which is not emphasized enough on this site is critical thinking skills, if you have strong reasoning and critical thinking skills you are golden in my opinion (this can be strengthened with practice and time). Obviously you have to have the other skills as well, (programming, math, and finance).

Have you known people to get exit opputunities to become hedge fund analyst or other sectors of finance other than quants. Primarily investment banking,sales and trades, and private equity, or regular sale side trading

 

[mhy]

I think people with Bachelors tend not to get the heavy quantitative jobs. You see structurers & sales / traders straight out of undergrad but I believe it is much rarer to see a quant analyst/quant trader/strat with only a BS.

 

[jetpotion]

I think people with Bachelors tend not to get the heavy quantitative jobs. You see structurers & sales / traders straight out of undergrad but I believe it is much rarer to see a quant analyst/quant trader/strat with only a BS.

I mean internships. Not jobs. Do quant guys have exit opportunities in order fields? Can they become hedge fund analyst or sale& become part of a private equity group?

 

[jetpotion]

bump

 

[mhy]

I mean internships. Not jobs. Do quant guys have exit opportunities in order fields? Can they become hedge fund analyst or sale& become part of a private equity group?

Yes to HF, probably no to sales&PE (especially PE, it's almost completely dominated by MBAs)

 

[evan guggenheim]

Have you known people to get exit opputunities to become hedge fund analyst or other sectors of finance other than quants. Primarily investment banking,sales and trades, and private equity, or regular sale side trading

Yes, I have, but the ones I know have back grounds in IB or PE, I haven't met a quant yet whose done that transition, but they're definitely out there.

 

[JulianT]

In order to secure a internship do you need to have a masters in a respected math major first? Do employers take bachelors? Or do they only just take MFE AND PHD....

Depends what you want. Since this is quantnet, a simplifying assumption is that you want to work in strats/do some sort of quant role. Then the answer is that you will likely need a masters, though not necessarily. One of my good friends is an analyst at a small quant fund in Canada out of an undergrad, with internships in ER, IB and PE during studies. If you are looking at institutional sales / flow trading (product depending) the answer is not necessarily, but heavily recommended. If you want IB, then nope not at all.

Do non-target bachelors have the ability to secure an internship? I don't know any personally, but I'm sure there are some out there and I would bet they networked like crazy.

You need a combination of luck and networking. I got my 1st internship though an online application, incredibly, in my 2nd year of my undergrad in math from non target school. That being said, owning the interview and networking like a ninja helped.

Also, if you are looking for an internship, exit opportunity should not be part of your vocabulary. getting a job after your internship isn't an exit op, its getting a shot to start your career. In the end, personality is probably the most important determinant, given that the candidates possess minimum requirements to make it through HR screen. Finance, particularly when you sit in front office, remains a peoples business.

 

[jetpotion]

Depends what you want. Since this is quantnet, a simplifying assumption is that you want to work in strats/do some sort of quant role. Then the answer is that you will likely need a masters, though not necessarily. One of my good friends is an analyst at a small quant fund in Canada out of an undergrad, with internships in ER, IB and PE during studies. If you are looking at institutional sales / flow trading (product depending) the answer is not necessarily, but heavily recommended. If you want IB, then nope not at all.


You need a combination of luck and networking. I got my 1st internship though an online application, incredibly, in my 2nd year of my undergrad in math from non target school. That being said, owning the interview and networking like a ninja helped.

Also, if you are looking for an internship, exit opportunity should not be part of your vocabulary. getting a job after your internship isn't an exit op, its getting a shot to start your career. In the end, personality is probably the most important determinant, given that the candidates possess minimum requirements to make it through HR screen. Finance, particularly when you sit in front office, remains a peoples business.

What about becoming a hedge fund analyst?Is there website specifically for hedge funds,prop trading, and sales trades?

 

[evan guggenheim]

What about becoming a hedge fund analyst?Is there website specifically for hedge funds,prop trading, and sales trades?

Check out Wall Street Oasis (WSO), they have sections that are industry specific and you can chat with people who want to go into the same industry, i.e. HF, IB, PE, or Quant.

 

[jetpotion]

Check out Wall Street Oasis (WSO), they have sections that are industry specific and you can chat with people who want to go into the same industry, i.e. HF, IB, PE, or Quant.

Idk I always to do a trading aspct of finance.......

 

[evan guggenheim]

Idk I always to do a trading aspct of finance.......

They have a section for that, check it out for yourself.