How significant is mathematical knowledge for trading?

[hotdeaths]

I was told that a lot of quant shops don't really care about where you where educated so long as you score high enough on the OAs. In this case, the degree you are studying is less important than your ability to deal with the interview questions. Does this mean that the degree you do isn't too confined to the usual Maths/Stats/CS?

Of course a better knowledge of probability may help you perform well in an interview, but in general, is this true?

This applies just for trading roles - I understand quant research will definitely require some substantial mathematical education.

 

[QuantCoach]

Ability to perform during an interview is perhaps more important than the specific school you went to but it is typically very difficult to even get the interview without going to a top school. Many quant shops do care where you where educated and what your major was; there is a general preference to hire from world class math/cs programs and a quick Linkedin search would show a heavy concentration of students who did their undergrad at IIT, Peking, Tsinghua, HYPSM, Oxbridge, etc even in trading. Yes, if you're not from a world class school or from a target program then you still have a shot but you need to find an edge elsewhere (contests, publications, internships, top in class, etc.) to even get the interview.

For the "as long as you score high enough on OAs" point - I seen many people get perfect on OAs just to get rejected after (some quant shops give OA automatically then resume screen you later).

Of course a better knowledge of probability may help you perform well in an interview, but in general, is this true?

I would say great problem solving ability translates into performing well in an interview and many trading firms test for these problem solving skills in the context of probability questions or strategy games.

 

[Michelle]

I was told that a lot of quant shops don't really care about where you where educated so long as you score high enough on the OAs. In this case, the degree you are studying is less important than your ability to deal with the interview questions. Does this mean that the degree you do isn't too confined to the usual Maths/Stats/CS?

The value of many MFE programs is to put you in front of the employers. How well you perform to get an offer is up to you. Nobody can help you at that time.
Without this pipeline, it's very hard to break in unless you are one in a million talent.
You are underestimating how many young, hungry and talented people want to break into finance and every guy wants to be a trader or a quant.

 

[hotdeaths]

Ability to perform during an interview is perhaps more important than the specific school you went to but it is typically very difficult to even get the interview without going to a top school. Many quant shops do care where you where educated and what your major was; there is a general preference to hire from world class math/cs programs and a quick Linkedin search would show a heavy concentration of students who did their undergrad at IIT, Peking, Tsinghua, HYPSM, Oxbridge, etc even in trading. Yes, if you're not from a world class school or from a target program then you still have a shot but you need to find an edge elsewhere (contests, publications, internships, top in class, etc.) to even get the interview.

For the "as long as you score high enough on OAs" point - I seen many people get perfect on OAs just to get rejected after (some quant shops give OA automatically then resume screen you later).



I would say great problem solving ability translates into performing well in an interview and many trading firms test for these problem solving skills in the context of probability questions or strategy games.

Thanks for the response.

Regarding ‘targets’ - which is more important, the institute or the program?

I suppose I’ll jump to my personal dilemma.

Maths at Imperial or Warwick, or Maths with Data Science (Applied Maths/Stats with Algorithms/Coding - no ‘business’) at the LSE.

Which program will be best for a path in quant finance (ideally trading)?

Thanks again for the response.