I'm a buy side Quant Researcher at a top hedge fund (Jane Street/Two Sigma/AQR/etc). AMA

qn_username · 5/19/25

quantacula said:
Hi, and thank you for doing this AMA.

I was accepted to a Financial Mathematics Masters program but am interested in pursuing a PhD in Statistics without a Math/Stats undergrad degree (I studied engineering).

Is a PhD in Stats more respected in the industry than a MFM?

From a salary perspective, do PhD quants earn more than those with MFE or MFM?

All else equal, yes, a stats PhD candidate is more respected than MFM candidate, starting compensation is higher than MFM.

Filcor · 5/21/25

Hi @qn_username , and thank you for your time.

I wanted to ask if, in your experience, you've seen anyone successfully transition from a consulting role to a quant role.

I’m 31 years old and hold a degree in finance in Europe. I have 2 years of experience as a portfolio analyst at a macro-driven fund. After that, I moved into the wealth management industry, initially working on a digital transformation project at a bank, and currently I’m at a consulting firm in a similar capacity.

I'm now planning to pivot toward a quant role and, to support this transition, I’m considering applying to a top MFE program.

Have you seen people make a similar career move and succeed?

Thanks again,
Filippo

quant_wanna_be · 5/28/25

Hello this is amazing, to be able to chat with you, thank you for your time.

I am an aerospace engineer with heavy background in time series analysis, ODEs, very heavy applied math, uncertainty analysis, risk analysis, and any type of time series analysis (including real-time offline optimization routines etc.) I do have my PhD, and have been working heavily on industry applications of autonomy, autonomous driving, mobile robots, drones etc. But all has been applied math and engineering applications. My question is how often do you see around people like me, transitioning with such skill set to the buy-side? How likely it is? How welcoming they are to such mind set? Also I am 40+, and how much they frown upon age-ism, vs the young tenacious talent! I have built businesses, and very entrepreneurial at heart, has been in Silicon Valley 13+ yrs, in start-ups, and was wondering about your perspective on such transition from my field to quant world, and mostly mid-frequency trading side of things. I am very heavy on algo development, and would love to learn your perspective on this. Thank you for your time.

warlock · 5/29/25

Hi,
Thanks for taking the time. I'm currently working as a Quant Dev at a multi-strat with 6yr of experience (3-hedge fund, 1-IB, 2-fintech startup) and pursuing MAFN (part-time) at Columbia in Fall'25. Other than networking, what are your recommendations if I'd want to transition into quant research (without a PhD)(eventual goal of being PM)?
Thanks,
Arnav

Isha A · 5/29/25

Hi, thank you so much for doing this!

I recently graduated with a Bachelor's degree in Computer Science and Engineering, and have been working at a small tech firm with a focus on research-oriented work. I'm now planning to pursue a Master's in Financial Engineering from a decent program (like NYU, Columbia, or Cornell), with the goal of transitioning into a quant developer role—ideally one that leans more towards Python and machine learning rather than ultra-low-latency systems.

To prepare, I’ve been studying A Practical Guide to Quant Finance Interviews ("The Green Book") and working to improve my data structures and algorithms. That said, I still feel uncertain about whether I'm truly competitive for roles at top-tier firms. Are there any specific skills or areas you'd recommend I really focus on to strengthen my profile?

I'd also love to hear a bit about your own experience. What does a typical day look like in your role? What kind of tools, languages, or models do you work with? (I’m genuinely curious about the day-to-day, since I haven’t had exposure to the quant world yet.)

On a related note, how feasible is it for someone with a strong coding background—but who isn't a math prodigy—to pivot into a quant trader role? I really enjoy coding and problem-solving, but I’d describe myself as more of a solid, consistent worker than a genius.

Lastly, from your experience, how critical is it to answer every interview question perfectly? Are there certain traits or qualities that firms tend to value more than just technical accuracy? And if there are any additional resources you'd recommend for quant dev or quant trader interview prep, I’d be grateful for the pointers.

Thanks again—I really appreciate your insight and time!

ParisStudent · 6/18/25

Hello, first of all, thank you for sharing your time with prospective quants.

I would like to ask you the following question :
I would like to work in algorithmic trading (HFT or mid-frequency depending on my skills). For such positions, is it preferable to focus on Market Microstructure analysis or AI/ML applied to trading strategies ?

And do these two fields are even related with algorithmic trading ?

As I am still a student, I would like to focus my personal research on the right academic curriculum.

Thank you !

Thatxxxxhshs · 6/26/25

Hello, my question is how much does undergrad matter. I have the option to attend NYU (90k yearly) or Rutgers (30k yearly). If my goal is a top masters, then a buy side quant role. Is that still achievable from Rutgers?

qn_username said:
Hi all,

In the spirit of sharing and helping prospective students (I'm a senior buy side quant researcher. AMA), it's my honor to use this platform to interact with students who might be interested in this career path.

Who Am I: I'm a quantitative researcher working in systematic trading. I develop alpha signals to forecast the future prices of various financial instruments. I first learned C++ nearly 20 years ago, so I used QuantNet to refresh my knowledge on recent language features. I do not hold an MFE degree, but I have a master's degree in statistics and a PhD in artificial intelligence. I have 5~10 years of work experience.

About My Company: a tier-1 hedge fund (like DE Shaw, HRT, Jane Street, Millennium, Tower, etc.)

Why Am I doing this: Andy initially reached out, and I thought this might be beneficial to students or anyone interested in quant trading.

Ground rule: Feel free to ask me anything related to my professional experience or the quant finance industry in general. However, due to privacy and anonymity concerns, I won't be able to answer personal or overly specific identifying questions. All views expressed here are my own and do not represent those of my employer or others in similar roles.

View attachment 56565

Hello, my question is how much does undergrad matter. I have the option to attend NYU (90k yearly) or Rutgers (30k yearly). If my goal is a top masters, then a buy side quant role. Is that still achievable from Rutgers?

qn_username · 6/29/25

Filcor said:
Hi @qn_username , and thank you for your time.

I wanted to ask if, in your experience, you've seen anyone successfully transition from a consulting role to a quant role.

I’m 31 years old and hold a degree in finance in Europe. I have 2 years of experience as a portfolio analyst at a macro-driven fund. After that, I moved into the wealth management industry, initially working on a digital transformation project at a bank, and currently I’m at a consulting firm in a similar capacity.

I'm now planning to pivot toward a quant role and, to support this transition, I’m considering applying to a top MFE program.

Have you seen people make a similar career move and succeed?

Thanks again,
Filippo

To be honest - not many, but I guess it's not impossible. Your earlier experience as a portfolio analyst is more relevant and will come up more often in interviews. A top MFE would demonstrate you're serious about making the switch. Just keep in mind that your digital transformation work likely won't carry much weight for quant roles.

qn_username · 6/29/25

quant_wanna_be said:
Hello this is amazing, to be able to chat with you, thank you for your time.

I am an aerospace engineer with heavy background in time series analysis, ODEs, very heavy applied math, uncertainty analysis, risk analysis, and any type of time series analysis (including real-time offline optimization routines etc.) I do have my PhD, and have been working heavily on industry applications of autonomy, autonomous driving, mobile robots, drones etc. But all has been applied math and engineering applications. My question is how often do you see around people like me, transitioning with such skill set to the buy-side? How likely it is? How welcoming they are to such mind set? Also I am 40+, and how much they frown upon age-ism, vs the young tenacious talent! I have built businesses, and very entrepreneurial at heart, has been in Silicon Valley 13+ yrs, in start-ups, and was wondering about your perspective on such transition from my field to quant world, and mostly mid-frequency trading side of things. I am very heavy on algo development, and would love to learn your perspective on this. Thank you for your time.

I really appreciate your expertise. As long as you're smart and excel in your area, I think you'll likely succeed in this industry as well. The tricky part is getting in. Some places value younger mindsets, while others appreciate senior technical backgrounds. I think your entrepreneurial mindset will be a big advantage in making the transition.

qn_username · 6/29/25

warlock said:
Hi,
Thanks for taking the time. I'm currently working as a Quant Dev at a multi-strat with 6yr of experience (3-hedge fund, 1-IB, 2-fintech startup) and pursuing MAFN (part-time) at Columbia in Fall'25. Other than networking, what are your recommendations if I'd want to transition into quant research (without a PhD)(eventual goal of being PM)?
Thanks,
Arnav

See if you can make the transition internally. If your team has a mix of devs and researchers, you can talk to your manager about your career goals. Of course, you'll need to demonstrate the capability. I don't think a PhD is strictly necessary. If your team doesn't support the move, consider switching teams or companies. The same applies for eventually becoming a PM.

qn_username · 6/29/25

Isha A said:
Hi, thank you so much for doing this!

I recently graduated with a Bachelor's degree in Computer Science and Engineering, and have been working at a small tech firm with a focus on research-oriented work. I'm now planning to pursue a Master's in Financial Engineering from a decent program (like NYU, Columbia, or Cornell), with the goal of transitioning into a quant developer role—ideally one that leans more towards Python and machine learning rather than ultra-low-latency systems.

To prepare, I’ve been studying A Practical Guide to Quant Finance Interviews ("The Green Book") and working to improve my data structures and algorithms. That said, I still feel uncertain about whether I'm truly competitive for roles at top-tier firms. Are there any specific skills or areas you'd recommend I really focus on to strengthen my profile?

I'd also love to hear a bit about your own experience. What does a typical day look like in your role? What kind of tools, languages, or models do you work with? (I’m genuinely curious about the day-to-day, since I haven’t had exposure to the quant world yet.)

On a related note, how feasible is it for someone with a strong coding background—but who isn't a math prodigy—to pivot into a quant trader role? I really enjoy coding and problem-solving, but I’d describe myself as more of a solid, consistent worker than a genius.

Lastly, from your experience, how critical is it to answer every interview question perfectly? Are there certain traits or qualities that firms tend to value more than just technical accuracy? And if there are any additional resources you'd recommend for quant dev or quant trader interview prep, I’d be grateful for the pointers.

Thanks again—I really appreciate your insight and time!

It's a bit hard to say what you might be missing skill-wise, since your background is still fairly broad. There are many candidates with a CSE degree and tech experience - do you have experience that makes you stand out? You might also consider applying to some roles or reaching out to recruiters early - they've seen enough profiles to help gauge where you stand.

As for the typical day, it's answer in previous questions, so I'll skip that.

"Quant trader" can mean very different things depending on the firm or team. There are definitely roles where the emphasis is more on coding and less on deep math. Being a solid and consistent worker is totally fine - there aren't that many geniuses out there anyway.

Great question at the end. Some interviewers are rigid - you miss one question, and you're out. Others (myself as an example) care about how you think and how far your understanding goes. I like to ask follow-ups to probe depth, not just correctness. I think understanding a candidate's limits is more useful than standardized test. That being said, LLM will be changing how candidates get evaluated.

qn_username · 6/29/25

ParisStudent said:
Hello, first of all, thank you for sharing your time with prospective quants.

I would like to ask you the following question :
I would like to work in algorithmic trading (HFT or mid-frequency depending on my skills). For such positions, is it preferable to focus on Market Microstructure analysis or AI/ML applied to trading strategies ?

And do these two fields are even related with algorithmic trading ?

As I am still a student, I would like to focus my personal research on the right academic curriculum.

Thank you !

They're both related, but I can't really give advice on specific research topics

qn_username · 6/29/25

Thatxxxxhshs said:
Hello, my question is how much does undergrad matter. I have the option to attend NYU (90k yearly) or Rutgers (30k yearly). If my goal is a top masters, then a buy side quant role. Is that still achievable from Rutgers?

Hello, my question is how much does undergrad matter. I have the option to attend NYU (90k yearly) or Rutgers (30k yearly). If my goal is a top masters, then a buy side quant role. Is that still achievable from Rutgers?

Sorry but this is really not my expertise. Perhaps @Andy Nguyen can help answer your question.

Johannes Meyer · 7/8/25

qn_username said:
Hi all,

In the spirit of sharing and helping prospective students (I'm a senior buy side quant researcher. AMA), it's my honor to use this platform to interact with students who might be interested in this career path.

Who Am I: I'm a quantitative researcher working in systematic trading. I develop alpha signals to forecast the future prices of various financial instruments. I first learned C++ nearly 20 years ago, so I used QuantNet to refresh my knowledge on recent language features. I do not hold an MFE degree, but I have a master's degree in statistics and a PhD in artificial intelligence. I have 5~10 years of work experience.

About My Company: a tier-1 hedge fund (like DE Shaw, HRT, Jane Street, Millennium, Tower, etc.)

Why Am I doing this: Andy initially reached out, and I thought this might be beneficial to students or anyone interested in quant trading.

Ground rule: Feel free to ask me anything related to my professional experience or the quant finance industry in general. However, due to privacy and anonymity concerns, I won't be able to answer personal or overly specific identifying questions. All views expressed here are my own and do not represent those of my employer or others in similar roles.

View attachment 56565

Really an awesome opportunity to grow for any aspiring quant! Would you be open to me creating an article out of this thread and all of the answers and accrediting adequate to your needs? I run a blog with +-10k active readers with the mission of making quant known, and these are some awesome insights!

ArsNova · 7/9/25

Thank you very much for the opportunity to speak with you. I have just completed my undergraduate studies with majors in economics and statistics and a minor in mathematics, and I am about to begin an 18-month Master of Financial Engineering program. I only recently decided to pursue a career in quantitative finance, so I have not done much targeted preparation. As a result, I feel that I lack many technical skills and will need systematic training. You can assume I need to review everything starting from probability theory, though the more basic material should go fairly quickly. However, with the pressure of securing a summer internship for 2026, I don’t have much time. I am feeling a bit lost and would appreciate guidance from someone with experience.

In terms of priority and learning sequence, which areas of knowledge should I master first to build the core technical skills for quantitative finance as quickly as possible?
Where can I practice—what problems or projects should I work on—to develop strong hands-on abilities?

Sunshiness · 8/10/25

Hello, I appreciate your time very much. I’m a rising junior at UCSD majoring in Data Science. I don’t have direct finance experience yet, but I’m really interested in applying my data science skills in the finance industry, whether that’s in quant research, risk modeling, or financial data analytics. I’ve been debating between pursuing an MFE after undergrad or working first and eventually getting exposed to finance concepts and knowledge( like being sponsored for the CQF). From a career development perspective, I’d love advice on:

How should I best prepare now for a data-science-oriented role in finance? (Or is that even a thing in the finance industry?) What technical and domain knowledge areas should I focus on first?
Are there any specific projects, competitions, or internships that would make me more competitive without prior finance experience?
For someone in my position, is it better to aim straight for an MFE program or work first and pursue professional qualifications like the CQF later?

Any guidance would be again hugely appreciated.

HaruuxD · 8/14/25

hello @qn_username, I really appreciate you taking time out of your day to respond to all the aforementioned queries, your responses been truly insightful, helping me in streamlining my thought process.

My questions are a little personal :'D. I wanted to ask you, as someone who's considering a masters in quant finance after completing my bachelor's in computer engineering(without any industry experience), do I need any preliminary understanding of the field? and since I'm a candidate with no experience, how should I go about preparing myself before and during my masters to secure internships and future offers? I don't believe that I'm particularly intellectual but I'm tenacious and inquisitive. I'm willing to put in effort and time to learn and improve.

I'm a buy side Quant Researcher at a top hedge fund (Jane Street/Two Sigma/AQR/etc). AMA

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