Help needed in long term and short term goal for sop

[amateur-quant]

Hi All,

My brief background -
Bachelor's in engineering | Fintech brokerage work ex - 4 years | Opinion exchange startup of my own - 1 year | Publication in the field of optimisation - stochastic evolutionary algorithm
GRE - 169Q 159V
Baruch Pre-MFE - AC-FE and Probability (Enrolled, will be completing it in Dec)

I have started application for couple of schools and I am stuck at long term and short term goal kind of question.

For both short term and long term, I have a brief idea of what I want to do, but at the same time I wish to write something which aligns with my profile and makes sense to adcom. I don't know if I should think about this angle though. Kindly correct me if I am wrong.

In short term, I just want to learn as much as I can. First from my profs and peers in the mfe program, then from colleagues at a good firm. And as far as role is concerned, I do not know the diff between quant researcher/analyst/strategist/associate. I want to go in a role in which I will be able to use maths and programming in my day to day job. Should I mention that I wish to be quant researcher/developer at buy side firms like xyz etc.

For the long term, I seriously have no clue. For the long term we usually mean 7-8 years. By that time, if I am able to learn the trade deeply and produce few strategies, albeit the novel ones, then that would be ideal. Managing a fund or starting my own fund also sounds like a good long term goal to me, but I am aware that it is a very remote possibility in 7-8 years. As @Andy Nguyen had mentioned in a post on the same topic that writing that you will start your own fund after 6-7 years is not a good idea.
I am clearly lost here.

Can people on this forum kindly advise me on how do I proceed with this? Any suggestions regarding long term and short term goal would be highly appreciated.

Thanks

 

[Andy Nguyen]

And as far as role is concerned, I do not know the diff between quant researcher/analyst/strategist/associate. I want to go in a role in which I will be able to use maths and programming in my day to day job. Should I mention that I wish to be quant researcher/developer at buy side firms like xyz etc.

For the long term, I seriously have no clue.

This is the issue right here. It would help if you do a bit more research and see who does what where in the big picture. This way, you can see which roles would be something you are interested in.
This will also help with your short term and long term plan.
Here is the reading list that has many guides and books to help with it Master reading list for Quants, MFE (Financial Engineering) students
My advice to you and other MFE applicants is that the short term plan always to get an internship in finance as soon as possible. That's why getting into a top program and working hard the first semester all serve that very purpose of getting the internship.

 

[latus_rectum]

Hey @Andy Nguyen,

Just wanted to know your thoughts regarding long term goal, how should one think about it when one is considering writing about it in sop/applications

Is writing something along the lines - I aim of becoming head of global quantitative strategies at a buy side firm like Citadel etc. in long term (8-10) years - a good way to approach this question ?
The long term aim is obviously learning the trade deeply, but I think that is given. And then end it up with - MFE and an internship at a good firm (my short term goal) would set me up to pursue my long term goal.

Thanks for your time.