Quant Strategist

[AlexandreH]

Do you need a PhD to be a Quant Strategist? If not, can you do it just out of school or need some experience as a Quant trader or developer first?

 

[Joy Pathak]

I don't think you need a PhD, although turns out many people I have met as Quant Strategists at the IB's have a PhD in Finance.

From my understanding of a QS at an IB, it's mostly prototyping and building of strategies from the group up. The programming skills have to be very strong possibly now as banks dont like having a separate programmer to implement your strategies.

But I could be wrong. It would be very hard to get straight into a QS position out of school with a Masters, unless you're very good, which you might be!

 

[AlexandreH]

So Joy, mainly, you go into a trading/development first, then into Strategist position in 2-3 years?
Thanks.

 

[Joy Pathak]

So Joy, mainly, you go into a trading/development first, then into Strategist position in 2-3 years?
Thanks.

No...You can start off straight as a Strategist, but it is hard. Define what you think is a strategist too? The "strats" team have strategists too, who build market impact related models, algo execution, etc. I dont think all QS are developing trading strategies.

This is my limited knowledge though. I don't know what the progress of roles are to enter a QS position at an IB. Like I said, the QS I have met, went straight from PhD Finance to QS at investment banks.

 

[roni]

sorry for getting in the middle of the discussion,
but I'm looking at UCB's placement for 2010, and 25% of the grads were placed in jobs that are categorized as "strategy".
Are they not strategies ?