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Phd in a world of Quants

Tiasilverman

Joined
11/28/14
Messages
43
Points
18
Hi guys, I would like to know: how is important is having a Phd (for example in financial engineering) to do a quants job? How much could it be the starting salary for a new financial engineer (with bachelor + master+Phd) at 29/30 years without work experience (in my case)?
 
There is no straight answer to this question, but I'll try…

Phd is not the factor to getting a quant job, but rather what you learn (knowledge based and skill sets) during the program. This can be done with a masters as well.

Starting salary will obviously be good if you get into a quant job, the hard part is getting the job. Not having prior work experience will work against you, you won't have as much negotiating privileges due do it, but you may be able to use other factors to your advantage such as prior projects that are directly related to what your role would be with the company.
 
Thanks Evan :) what do you think about a Phd in financial engineering? I knoe there is a Phd in financial engineering at the Stevens Institute of Technology
 
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I personally wouldn't do it, but that my personal opinion. Time is one of the most important assets you'll have in your career and a Phd in FE is not worth the time, you can get the MFE instead and get the same job and essentially the same pay, with less time.

As a side note, I have heard bad things about the Stevens Phd program, Phd programs are usually free since you are providing your knowledge to the university, but I heard at Stevens, the fellowships/funding is non-existent, in other words not worth it. On the flip side, if you do a masters with them, I heard they provide some funding. If you're looking at Stevens, I would also look at IIT too, I hear they provide generous funding packages, but they don't have a Phd program if I recall correctly.
 
ahahahah sorry Kann and Evan I know when something interest me too I become boring but this is my dream, I come from Italy and here there is no future for us and life was though for me and this dream could come true and wanna take my revenge and I want be a financial engineer
 
Tiasilverman said:
ahahahah sorry Kann and Evan I know when something interest me too I become boring but this is my dream, I come from Italy and here there is no future for us and life was though for me and this dream could come true and wanna take my revenge and I want be a financial engineer
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Well, regardless your reason for wanting to become a quant. You should do some research on the programs you're interested in. This site has writings from actual students who went to these programs and their point of view and experiences during their time there. Utilize your resources.

Getting a Phd is not a key to success, acquire the right skills and knowledge to be competitive, that is the only key, regardless if you choose to go through with your Phd endeavors or get a masters. Read lots of books and watch video on youtube regarding the topic, network with people who are in the field. That will serve you better than creating numerous chat topics regarding correlated questions.
 
Tiasilverman said:
I come from Italy and here there is no future for us
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Europe's best and brightest quants come from Italy. Rebonato, Mercurio, Brigo, Morini are all from Italy and Banca IMI is the powerhouse for Interest Rates and Fixed Income research. I do not know which part of Italy you are from, but I would assume you would find out more about what really is happening if you were in Milan.
 
zeez said:
Europe's best and brightest quants come from Italy. Rebonato, Mercurio, Brigo, Morini are all from Italy and Banca IMI is the powerhouse for Interest Rates and Fixed Income research. I do not know which part of Italy you are from, but I would assume you would find out more about what really is happening if you were in Milan.
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Not to mention Pallavicini, Tarenghi - I think many of them attended Bocconi University or the University of Padua.
 
zeez said:
Europe's best and brightest quants come from Italy. Rebonato, Mercurio, Brigo, Morini are all from Italy and Banca IMI is the powerhouse for Interest Rates and Fixed Income research. I do not know which part of Italy you are from, but I would assume you would find out more about what really is happening if you were in Milan.
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And the food in Italy is great. There is no good coffee anywhere outside of Italy, serious.
 
Daniel Duffy said:
And the food in Italy is great. There is no good coffee anywhere outside of Italy, serious.
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Almost true ;-)

I also found a lot of Econophysics papers' authors to be Italian, since when is that a thing? Maybe I should move there, instead of the other way around like the OP.
 
Thank you guys, I'm very happy to hear this worlds, now I'm 22 years and I'm studing management engineering at the Politecnico di Milano (the italian best university) and I hope my dreams to become a financial engineer (quants) come true :) :) :)
 
Tiasilverman said:
Thank you guys, I'm very happy to hear this worlds, now I'm 22 years and I'm studing management engineering at the Politecnico di Milano (the italian best university) and I hope my dreams to become a financial engineer (quants) come true :) :) :)
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I thought Bologna and Sapienza were the best?
 
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