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Is there a Low Stress Quant job?

hskk

Joined
7/17/08
Messages
14
Points
11
Hello,

This is my first post here. This is a great forum, am glad to have found it! I begin my MFE program this Fall.

I like to have a work-life-family-play-sleep balance (not sure if it is a woman thing .. but yes, I am a woman). I enjoy Math and Programming and have an interest in Finance. However, I hear horror stories about the work hours, stress levels and the job security in a Quant Job at Wallstreet. Are all quant jobs that way? Are there any quant jobs that require only 8 hours a day with lower stress levels? I am not concerned about earning a 6-figure salary, although it wouldn't hurt! I just want an intellectually challenging job; not a physically and emotionally challenging one. Is there hope for me?


Thanks,
hskk
 
Hi hskk. About your question, although I haven't yet worked on Wall Street, um, as far as I understand this position, a quant's responsibility is to support the traders, and a quant's analysis determines whether the company gains or loses, and because of the absoluteness of computers (there are no human emotions, there is only one answer for any distinct set of data), if your absolute answer is wrong, you're cooked.

And about stress:

It's Wall Street. Doesn't the thrill of the job come from the stress? Or is there no thrill, only stress?
 
hskk,

If you find one, please tell me :) I would like a "quant" job with short hours, easy money too.

The only relaxing female I saw on my floor is the picture of the 3-month old daughter of my co-worker. She smiles like an angel----compared with anyone of us who almost works 12 stressful hours a day.
I am not complaining, because I like it. :)
 
Yan He said:
hskk,

If you find one, please tell me :) I would like a "quant" job with short hours, easy money too.

The only relaxing female I saw on my floor is the picture of the 3-month old daughter of my co-worker. She smiles like an angel----compared with anyone of us who almost works 12 stressful hours a day.
I am not complaining, because I like it. :)
Click to expand...

Excuse me, are you working as a Quants now? Can you share with us how "12 stressful hours a day" are you suffering from? Would be great if you can speak in a way that we can have vivid pictures in our head... Thanks a lot.
 
Claudewang, if you are SERIOUSLY want to know, I think some introduction books here would help. After reading these stories, you will get a VIVID picture in your head how quants work in almost 12 STRESSFUL HOURS a day. Enjoy !!!
:)

* CAREER/JOB INTERVIEW GUIDES
1) What do quant do ? A guide by Mark Joshi. Download
2) Paul & Dominic's Guide to Quant Careers Version 2.0 Download
3) Career in Financial Markets - a guide by efinancialcareers. Download
........
7) My life as a Quant, by Emmanual Derman
8) Working the Street by Erik Banks
9) Liar's Poker by Michael Lewis
 
The Guide to Careers in Financial Markets is a good book. I don't know how I missed it. Thanks for posting it.

:dance:
 
What maternity leave, Yan He? ;)

I hear horror stories about the work hours, stress levels and the job security in a Quant Job at Wallstreet. Are all quant jobs that way?
Let for a second forget about quant job and focus on any Wall Street job.
There isn't any job security and will never be. You can lose your job at any given moment without any fault of your own. Banks close troubled desks, groups all the time. Hedge funds open and close everyday.
A long work hour is a given. Stress level may vary between places and personal level of stress tolerance.
Are there any quant jobs that require only 8 hours a day with lower stress levels?
Wishful thinking. It also depends on your definition of what is "quant job".
I am not concerned about earning a 6-figure salary, although it wouldn't hurt!
Money is the biggest motivator for people working on Wall Street. Nobody is going to abuse their mental, physical welfare for chump change.
I just want an intellectually challenging job; not a physically and emotionally challenging one. Is there hope for me?
In short, NO.
This begs the question, why do you want to go into this profession in the first place.
 
Thanks for all your replies. I meant to say that I will be looking for a job, but not necessarily in WallStreet (I live in the MidWest). I just wanted some insights about possible low stress - less work hours careers after MFE.

Why do I want to get into this profession? I think it is more for the passion of learning the subject and giving it a try ... I generally like Math and Programming and Finance interests me as well. At the same time, I do not want to abandon my home/family/social life. Hope I find a good 8 hour a day job someday which can help me balance it well!
 
you could try the buy side.
i know of at least one asset manager in Minnesota that seemed pretty well-balanced.

if you're in the Chicago area, there's also a big hedge fund that seemed OK in terms of work hours, but this is just based on me reading the current employee testimonials on their website.
 
Well, it is a relatively new program (started in 2007). However, the University of Minnesota is an established name in Engineering and does maintain certain standards. I did not consider other schools because I live here. The good thing about the program is that they have local industry experts teaching most of the courses.

http://www.math.umn.edu/finmath/courses/
http://www.math.umn.edu/finmath/teachers/

Do you live in the Midwest too? Are you thinking about their MFM program?



bigbadwolf said:
Have you researched the program?
Click to expand...
 
hskk said:
Well, it is a relatively new program (started in 2007).
Click to expand...

In general, the graduates of new programs are having and will have great difficulty in obtaining relevant employment. Graduates of established programs are having difficulties in a tight job market -- how much more must the difficulties be for alumni from programs that haven't established their worth? In this context, where a person lives or what he has to pay for a program simply become irrelevant. Go for the strongest program that is willing to accept you, and take it regardless of what you have to pay.

There is now a plethora of new and second-tier programs. Some of these are in areas that lack a strong financial services presence. The interaction between academia and finance -- which would hopefully lead to internships and job offers -- doesn't exist. Something to ponder over.
 
I completely understand that it is best to attend an established Program. However, I dont have a choice since I cant move to a new city now due to my commitments here. I am primarily taking this Program because I find it interesting. Anyway, I believe that if you have good skills and luck helps, where you studied really doesn't matter all that much.

There is some Financial and Insurance sector presence in Minnesota, hope that helps. The fact that local industry experts teach the courses will help make the course more practical, doesnt necessarily lead to jobs and internships, but am sure they will help if they notice a spark in you.
 
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