How would you rate a financial background in universities like BA quantitative and MBA plus 3 years of C#/C++/VBA/SQL/.NET programming experience? (+custom made mathematical algorithms) Is it enough to get an entry level job as a quant or it is mandatory to have a financial working experience rather than pure programming?
Financial Background + programming experience
- Thread starter Tsotne
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Hi Guys,
I would also like to ask a similiar question. Here are my edcational qualifications:
B.Tech: Computer Science
MS Finance, IIT Chicago
Working in a prop trading firm in their technology domain in the Back Office since an year. I have been trying to take a switch to a quantitative research/development/analyst positions but have not succeeded yet due to the following probable reasons:
I would also like to ask a similiar question. Here are my edcational qualifications:
B.Tech: Computer Science
MS Finance, IIT Chicago
Working in a prop trading firm in their technology domain in the Back Office since an year. I have been trying to take a switch to a quantitative research/development/analyst positions but have not succeeded yet due to the following probable reasons:
- International Student, hence work status issues.
- Not having a tag of a reputed university.
- Plan to start an MBA in the summer of 2012 (having a constraint of doing it with a reputed univ only)
- Continue working for a couple of years, gain substantial industry experience and with time would find a job in the domain desired.
Hi @AimetoRise. Seems like we have similar question so let's package it up into one common idea. So we both have (and you're intending to do MBA) quantitative financial background from the educational point of view and have programming experience. Right?
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Hi Tsotne,
My motivation to start an MBA is just to increase my employability. But was in a fix since all my experience is academic, have started working since the last year itself, so no relevant industry experience. Hence, wanted guidance from people working in the same industry.
My motivation to start an MBA is just to increase my employability. But was in a fix since all my experience is academic, have started working since the last year itself, so no relevant industry experience. Hence, wanted guidance from people working in the same industry.
I understand. Almost same with me.
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Before I switched to CS/Computational Mathematics, I was doing a BBA. Let me tell you, it was a waste of time. You learn jack. Classes such as introductory accountancy, albeit necessary, can easily be learned in two weeks, but you are forced to utilize the entire semester to do so. We literally spent the entire last month going over and over similar multiple choice problems because there was nothing else to learn. Now a BBA is not an MBA, but it's still a good gauge of the curriculum. Outside of the top 15-20 MBA programs, I wouldn't do it honestly.
That being said, I don't see how an MBA helps with becoming a "quant" (w/e that term really means). If by "quant" you mean some kind of researcher or analyst who lets say develops models for hedging mortgage backed securities, then how would an MBA help? An MBA is made up of courses such as management and marketing...
That being said, I don't see how an MBA helps with becoming a "quant" (w/e that term really means). If by "quant" you mean some kind of researcher or analyst who lets say develops models for hedging mortgage backed securities, then how would an MBA help? An MBA is made up of courses such as management and marketing...
Huge mistakes here. First, unlike you I didn't learn accountancy and marketing/management at all. C++/VBA + mathematical subjects: linear algebra, advanced statistics, Copulas, Var, etc... MBA is similar too => Depends on the school you are applying too.
All in all, assuming both BBA and MBA gives us mathematical knowledge we are just interested in sequence and importance programming experience over financial experience.
I'm applying for MBA now. I'll let you know what the course includes.
Joy Pathak
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Lol I think only U Chicago and NYU have a miniature touch of quant finance type of MBA option. Doing an MBA to be a quant is pointless. MFE will be picked over an MBA for any quant position basically. Although there are exceptions.
Joy Pathak
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I don't know if it's enough to get a job. It might be enough to full-fill minimum requirements but getting a job is a lot more than just meeting the requirements. Apply and let me know if you get a job.
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You are correct, sir. You can't weasel out of core courses in financial accounting, managerial accounting, managerial economics, general management, marketing, and organisational strategy. Most of these are vital to understanding how businesses work -- but useless from a quant point of view. In optional courses maybe you can take some more (relatively) quantitative courses -- but probably nowhere close to the real quant programs. The focus of an MBA differs from an MFE. The MBA will comprise the core courses above, which will culminate in a course on managerial policy/organisational strategy, where you learn how to navigate a business organisation in today's environment using the tools picked up in accounting, marketing, and so on, typically with real-life case studies.
Not considering right now. Just curious to know...What else would you add? I don't mean the interview success and things like this, but meeting the requirements exactly. So it is enough to meet the requirements? Even for an entry level job
Thanks. Not for the trading type of quant. But quant developer, VAR, derivatives, fixed income, etc
Networking! (i.e. connections)
Important but not included in professional side.
Joy Pathak
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Var, derivatives fixed income is a profession? You mention it with quant developer so I need to make sure.
There is a very big demand for quant developers/programmers in the financial industry. If you're a programmer it will not be hard to get a job. One of my classmates wants to be a quant developer and he just applied online for few places and he got 6 interviews by doing absolutely nothing but applying online. He is one of the best programmers I know. The companies included Google,Soc Gen, Goldman and some huge trading firms out of Chicago.
Var, Derivatives, Fixed income are specializations...Why are you guys making the question such complex?! The question is simple: For Var, Derivatives, Fixed income, quantitative developer positions (for example), is 3 years of programming experience with C/C++/C#/SQL/VBA + Financial education background like MFE + BBA enough?
