So, let’s say you’re an economics undergrad. To break into quant finance, what is your ultimate recommendation?
So far, I’m aware of 2 ideal pathways from that point:
1. Statistics / Data Science Masters - edepending on the programme, economics graduates can be very highly trained in statistical techniques. As such, this can be a relatively straight forward change in their academic path. The main issue is you’ll likely be outcompeted by Maths, Stats, Physics and Engineering (particularly if it’s an ML or DS course) graduates when applying for top programmes. Otherwise, if you can get into a top programme this is a relatively straightforward 1-2 year route.
2. Economics Masters then PhD - I think it’s generally accepted that there are and always have been plenty of economics graduates in risk management roles, so that’s one good case. I’ve been told though that to get to quant research/trading positions though, it seems like the narrative is that you’d have to be a PhD and even then it’s still a bit of an uphill battle. However, the pros are this that this would be the “easiest” (from an admissions perspective) way to get into a really good programme at a really good school, and you still have quite a few exit opportunities
Am I missing anything? Which route would you advise pursuing, and how effective do you think each is?
I’m considering both routes (after failing to get into the top MFE-type programmes last year), and just want to get an idea if they are both worth considering by industry practitioners.
So far, I’m aware of 2 ideal pathways from that point:
1. Statistics / Data Science Masters - edepending on the programme, economics graduates can be very highly trained in statistical techniques. As such, this can be a relatively straight forward change in their academic path. The main issue is you’ll likely be outcompeted by Maths, Stats, Physics and Engineering (particularly if it’s an ML or DS course) graduates when applying for top programmes. Otherwise, if you can get into a top programme this is a relatively straightforward 1-2 year route.
2. Economics Masters then PhD - I think it’s generally accepted that there are and always have been plenty of economics graduates in risk management roles, so that’s one good case. I’ve been told though that to get to quant research/trading positions though, it seems like the narrative is that you’d have to be a PhD and even then it’s still a bit of an uphill battle. However, the pros are this that this would be the “easiest” (from an admissions perspective) way to get into a really good programme at a really good school, and you still have quite a few exit opportunities
Am I missing anything? Which route would you advise pursuing, and how effective do you think each is?
I’m considering both routes (after failing to get into the top MFE-type programmes last year), and just want to get an idea if they are both worth considering by industry practitioners.
