Help an undergrad... what should I do next?

[ToffeeC]

This is my first post here, so I'd like to say hi to everyone. This seems like nice place and I hope you guys can rub off some of that knowledge on me.

I'm currently doing a double major in computer science and pure mathematics. Recently, I've gotten interested in quantitative finance, although I still don't know enough about it to tell whether I like it. Here's what I'm wondering: say I want to build a good resume for this kind of stuff, what should the next step be once I graduate? I was envisaging a masters in mathematics, but I'm not sure if that would be the best option. Ultimately, I want to lend a job that is intellectually stimulating and in which I get to exercise my analytical skills (quants do this... right?). I know I have to get smart on all the finance stuff... can I do this on my own, or do I really need to be doing it at school? More importantly, will employers care where I've learned it? It would be awesome if you guys could give me a few pointers.

 

[Connor]

Welcome.

Double majoring in CS and math is a great start. But first there are a few things that you can do while still an undergrad:

1) Get to know a few of your professors (both cs and math) through classes, office visits, and research. This will provide you with top-notch LORs.

2) Internships - Do an internship or two if you can. You could either try doing one in finance to find out if you really like the stuff or go for a tech/engineer/programmer internship.

3) Get/Keep your GPA high.

Since you aren't 100% sure about finance right now I would tell you to lean towards the math/cs masters (pure math, applied/computational math, cs, etc).

Will employers care where you learn it? Not really. The important thing is to be as smart as you can possibly be (which is hopefully smarter than the other people applying for the job). If you are a wiz at cs and/or math than an employer will be okay with you not being an expert in finance, it is just important to be really good at one thing (though of course more than one is good too).

Focus on the math and cs and pick up a few books from the Quantnet reading list.

And for masters, have a look at these:
The M.S. Programs
Institute for Computational and Mathematical Engineering - SCCM M.S. and Ph.D. Programs

Also this new blog is interesting and possibly relevant for you:
Quant Quest

 

[Lenny Konga]

Hey everyone, this is my first post here. I've browsed through a lot of the content and found it very useful. I don't like to ask such a naive question as my first post but I have noticed that it seems nobody pursuing a job as a quant seems to major in finance. I am a finance major and have recently become interested in learning more about pursuing a MFE or CQF. I certainly haven't committed to this career choice but am interested in knowing my options. As a major in finance, I was wondering, would it be more beneficial for me to minor in mathematics or computer science? I feel like both offer necessary skills, but if I had to choose one, which would be preferred? Or, is a career as a quant not even worth looking into if I solely have a bachelors in finance and no advanced mathematics or programming knowledge thus far. Thanks.

 

[Connor]

Hey everyone, this is my first post here. I've browsed through a lot of the content and found it very useful. I don't like to ask such a naive question as my first post but I have noticed that it seems nobody pursuing a job as a quant seems to major in finance. I am a finance major and have recently become interested in learning more about pursuing a MFE or CQF. I certainly haven't committed to this career choice but am interested in knowing my options. As a major in finance, I was wondering, would it be more beneficial for me to minor in mathematics or computer science? I feel like both offer necessary skills, but if I had to choose one, which would be preferred? Or, is a career as a quant not even worth looking into if I solely have a bachelors in finance and no advanced mathematics or programming knowledge thus far. Thanks.

The problem you run into is when applying for MFE programs the other applicants you will be competing against for slots will have math/engineering backgrounds, so you need to be able to demonstrate that you have the ability to be success in the program. Quant finance is alot of programming and math, and typically undergrad finance degrees don't prepare you for that.

Ideally you would double major and then minor in finance, math, and computer science but if you had to choose between CS and math for a minor I would recommend math. It is much easier to teach yourself programming than advanced math.

 

[Lyosha]

If I had to pick from math or CS as a minor, I'd go with math - just be sure to take one or two CS classes (an intro + a data structures/algorithms/design patterns classes can go farther than you imagine...) to get accustomed to programming.

 

[Lenny Konga]

Thanks guys. After thinking about my options more I decided to look into minoring in statistics. Possibly majoring if I feel I can finish it in an effective period of time. Statistical arbitrage trading is what I'm really interested in but I feel like it lacks the defined education path that most of you are seeking. My understanding is, the general template most of you are following for pursuing a quant job is to major in math/cs, minor in finance/econ while taking some additional courses math/cs (whichever one wasn't your major), apply to a good MFE school. As an alternative to not being selected for admission taking the CQF, or as an alternative to the CQF looking into the CFE as an alternative to the alternative. Is this the general idea?

 

[Andy Nguyen]

What is the CFE (you said it's alternative to CQF)?

 

[euroazn]

I would imagine the CFE is the Certificiate of Financial Engineering...

 

[Andy Nguyen]

I wasn't so sure if Lenny referred to the Risk Latte's CFE (one we discuss here) or there is something else.

 

[latency]

if you want to do "statistical arbitrage", a cfe, cqf will not get you there. i am not even sure an mfe will get you there. you need an ms/phd in statistics or a quantitative discipline and excellent programming skills to be considered for a role in a bank or hedgefund.

Thanks guys. After thinking about my options more I decided to look into minoring in statistics. Possibly majoring if I feel I can finish it in an effective period of time. Statistical arbitrage trading is what I'm really interested in but I feel like it lacks the defined education path that most of you are seeking. My understanding is, the general template most of you are following for pursuing a quant job is to major in math/cs, minor in finance/econ while taking some additional courses math/cs (whichever one wasn't your major), apply to a good MFE school. As an alternative to not being selected for admission taking the CQF, or as an alternative to the CQF looking into the CFE as an alternative to the alternative. Is this the general idea?

 

[Andy D.]

I have noticed that it seems nobody pursuing a job as a quant seems to major in finance.

I'm doing a Banking and Finance undergrad at the moment (I also have a undergrad in Software Engineering though) so I guess there are some of us!