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Laurier-based BBA/UW BMath?

ProspectInQuantTrading

Joined
4/30/21
Messages
7
Points
11
Is the Laurier-based BBA/UWaterloo BMath DD good for quant gigs? I know that Laurier's co-op board isn't exactly the best, but it's one of the two math programs, with the other not being anything special, albeit at Waterloo (FARM), I applied to as an HS senior who initially wanted to break into ibanking. Thanks in advance
 
If you want my advice, I can give some on other matters. I used to be in Western with AEO, I don't know much about quant gigs. I know somethings about math and the programs at Waterloo. I don't know how good this advice is, but I would say make sure you know what you want and why you want it. What attracts you towards quantitative finance more so than traditional finance? Both require very different skill sets. Personally, I wanted to do traditional finance when I was a senior in high school because of the money. I got my first internship and realized I hated it. Looked into quantitative finance, hated it even more. Luckily, I don't have to work for a living. Now, I just study math and do my own things.
 
MundaneMatters said:
If you want my advice, I can give some on other matters. I used to be in Western with AEO, I don't know much about quant gigs. I know somethings about math and the programs at Waterloo. I don't know how good this advice is, but I would say make sure you know what you want and why you want it. What attracts you towards quantitative finance more so than traditional finance? Both require very different skill sets. Personally, I wanted to do traditional finance when I was a senior in high school because of the money. I got my first internship and realized I hated it. Looked into quantitative finance, hated it even more. Luckily, I don't have to work for a living. Now, I just study math and do my own things.
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Ultimately, my goal is to work at a semi-systematic HF. The traditional path to break into more fundamental roles would be to start off in IB for the first two years or so, then try to break into HF. Not a really big fan of the long work hours and mind-numbing work of IB, and I've realized that my skillsets are more quantitative, and I've read that breaking into semi-systematic funds is still possible after getting an MFE, which would be my plan if I were to go with the more quantitative route.
And may I ask what you do now?
 
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I have been running some small businesses for the past 2 years, which, by what I would call sheer luck, have already netted me enough to live out the rest of my life fairly comfortably. As for the rest of my day, I spend most of it studying math, which I enjoy. Perhaps my perspective is biased and not applicable, but I would say picking a career primarily because of the money is very wrong. I would say pick something you enjoy doing, and do it damn well. Money can be made in so many ways other than a job, and I'm sure a job is one of the more inefficient ways.

How and why do you know you want to work at a semi-systematic HF? Why are you already looking at MFE programs? Have you researched what they teach? I'm sure you can learn more material than any MFE program by self-studying in your freshman and sophomore years. Of course, this would mean you'd be studying a lot and giving up on other aspects of life, in part. Breaking into any place from anywhere is possible if you truly desire. I would reiterate, spend some time to get to know what you want, and why you want it.
 
MundaneMatters said:
I have been running some small businesses for the past 2 years, which, by what I would call sheer luck, have already netted me enough to live out the rest of my life fairly comfortably. As for the rest of my day, I spend most of it studying math, which I enjoy. Perhaps my perspective is biased and not applicable, but I would say picking a career primarily because of the money is very wrong. I would say pick something you enjoy doing, and do it damn well. Money can be made in so many ways other than a job, and I'm sure a job is one of the more inefficient ways.

How and why do you know you want to work at a semi-systematic HF? Why are you already looking at MFE programs? Have you researched what they teach? I'm sure you can learn more material than any MFE program by self-studying in your freshman and sophomore years. Of course, this would mean you'd be studying a lot and giving up on other aspects of life, in part. Breaking into any place from anywhere is possible if you truly desire. I would reiterate, spend some time to get to know what you want, and why you want it.
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Thanks for the input!
 
MundaneMatters said:
You thanked me, but you didn't answer my questions. I wanted to hear your answers.
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Oh I thought they were there just to get me thinking lol. But to answer your questions, the reason why I want to work at a semi-systematic fund is because I've read that the longer term compensation for fundamental analysts is higher because they're generally less dispensable. It's easier to replace a quant than a fundamental analyst who does consistently well. Also, the fundamental analyst's biggest asset is their brain which leaves when they leave, whereas when the quant leaves, the firm has all the rights to the code, which is their biggest asset. I also wanted to apply my quantitative skillsets and with the increasing prevalence of algo trading, decided to leverage those two which got me to semi-systematic funds. I was looking at MFE programs because I've heard that they're required for any role that is quantitative. Content-wise, from what I've read, I'm sure I can self-teach concepts like stochastic calc, but that applies to many programs. I've read that the backing of a strong program really helps in getting positions at the top firms
 
I still don't get why you want to work at a HF at all. You say you want to apply your quantitative skillset, along with the increasing prevalence of algo trading and the job security. Are there not other streams where you can apply your particular skillset? Do you think you'd enjoy a specific role at a HF? Do you want it because it seems lucrative? Are you interested in mathematics and/or CS?

"I was looking at MFE programs because I've heard that they're required for any role that is quantitative." That seems false to me, but I can't give a definitive statement on something I don't know. Yes, self-teaching can apply to many, if not all programs. Coming from a strong program sure would help, but it isn't a necessity. My intuition tells me that if I'm a kid from a subpar school who has the knowledge, taken multiple advanced graduate courses, done PhD-level research, all in his second year at undergraduate, a lot of the top firms would be willing to give me an interview for an 'xyz' job relating to mathematics. Note that I don't know much about HFs, I simply want the point to get across. Of course, weigh out what matters in your life. If you believe in your capabilities, you can achieve a lot in the vicinity of your own home, provided you have little to no desire in engaging in other activities. I should add, it'll provide you with much more than the skillset to be a competent employee.
 
MundaneMatters said:
I still don't get why you want to work at a HF at all. You say you want to apply your quantitative skillset, along with the increasing prevalence of algo trading and the job security. Are there not other streams where you can apply your particular skillset? Do you think you'd enjoy a specific role at a HF? Do you want it because it seems lucrative? Are you interested in mathematics and/or CS?

"I was looking at MFE programs because I've heard that they're required for any role that is quantitative." That seems false to me, but I can't give a definitive statement on something I don't know. Yes, self-teaching can apply to many, if not all programs. Coming from a strong program sure would help, but it isn't a necessity. My intuition tells me that if I'm a kid from a subpar school who has the knowledge, taken multiple advanced graduate courses, done PhD-level research, all in his second year at undergraduate, a lot of the top firms would be willing to give me an interview for an 'xyz' job relating to mathematics. Note that I don't know much about HFs, I simply want the point to get across. Of course, weigh out what matters in your life. If you believe in your capabilities, you can achieve a lot in the vicinity of your own home, provided you have little to no desire in engaging in other activities. I should add, it'll provide you with much more than the skillset to be a competent employee.
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Well HF is certainly lucrative, I'd be lying if I said I wasn't drawn to it because of that. I've traded stocks before, I enjoyed analyzing various economic, sector, and enterprise fundamentals, and have been successful, so I was lured to HF because it would let me leverage that interest and extract the most value while I'm at it.
 
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