Hi! Thanks for your sharing. Is Quant a suitable position for a PhD student whose research area is about Financial Mathematics and what kind of company is great as a start?
With a PhD Financial Mathematics there are a lot of options. As a few examples: researcher at a hedge fund like Citadel, model developer, implementer, or validater at a commercial bank doing risk management, engineer derivative products for a sell side bank, develop investment strategies at a wealth management or hedge fund. To get an idea of what jobs are available, look at www.quantfinancejobs.com/. They provide job listings for high-end quant jobs.
Hello dimitri, I'm currently a second year university student studying actuarial science. I've passed the first 2 exams (Probability and financial math) and am studying for the third (Investment and financial markets) which introduces us to derivatives and different ways of modeling them. This is absolutely fascinating to me and is making me want to make the jump to being a quant. My question is, what should I do during undergrad in order to be able to secure internship positions at quantitative trading firms? Further, when applying, should I even mention the knowledge of Probability/Financial Math/Financial markets given to me from my actuarial exams or will it count for nothing?
Hi, sorry if you're getting this comment twice; I'm not sure if the first one posted. I have the following knowledge and experience in the four categories you listed: Math: PhD (although in pure math, not applied), have taught math courses (including Calculus sequence, Linear Algebra, Differential Equations) at colleges last 7+ years Statistics: Taught the same introductory statistics course several times, but very little knowledge/experience outside of that Computer Science: Cumulative about a year programming, mostly in Java, a very little in Python Finance: Investing in stocks and mutual funds over the past three years, checked stock market multiple times daily over a year In summary, lots of knowledge in math (though not so much in applied), and a "dabbling" knowledge in the other three. What would I have to do to boost my qualifications to become a quant? I'm not even sure which of the six types of quant you've talked about in other videos I'd most likely be interested in. What recommendations would you make to someone like me? Thanks a bunch for the videos and in advance for the advice.
You should be in a fairly good position to be a quant if it interests you. I'd start off with preparing a resume and reviewing quant finance topics and then submit job applications. If you can get a job based on your current experiences and education this would be the best route. If you end up interviewing at a bunch of places and it seems like the feedback is related to lacking experience you might consider going back for a financial engineering masters however I feel your background should be enough without the masters.
@@DimitriBianco Thanks a bunch for your response. Two questions: 1. Based on your "6 types of quants" video, I would think I would want to be a research quant, as you say it's "mentally stimulating and stress-free," both of which I think may be appealing to me. Would you agree that type of quant is what a math PhD would typically be most interested in? 2. If I did interview and got that feedback that I was lacking experience, do you think I would be able to gain the experience or knowledge necessary by simply reading up about financial engineering at the masters level instead of having to actually enroll in a masters program?
1) Yes, a lot of math PhDs end up on the research side. 2) I think you should be able to self-learn but it will all come down to the self marketing. You might find the book linked below helpful. It covers financial statistical analysis while using R. It should be helpful in strengthening your programming and stats. amzn.to/2FS6vlV
Hi Dimitri...You mentioned the areas in which we need expertise, to be a quant . But can you also shed light on what kind of skills or traits are required? Like capability to innovate, or fast mental calculations etc. Thank you
This is a great topic. I'll make a video on it. In general non-quant areas such as traditional traders (this is a controversial opinion) need speed in thinking. Those who work in highly quantitative areas have to look at a variety of complex relationships and these require the ability to spend a lot of time thinking deeply about one topic. For example, I am obsessed with time-series and have spent over four years applying it and developing theoretical knowledge of what different model structures mean. Even after four years plus two years of grad school I feel I am barely scratching the surface. Passion about quant topics is another trait that separates the average quant from those who I would consider experts.
Hey Demitri, I'm currently attending a community college to get my associates in Computer Science and my associates in Business Administration with a concentration in Data Analytics(my school did not offer any other alternative for associates). I basically have the degree already and I'm about to transfer to a four year university but they aren't letting me double major for my bachelor's which B.S degree do you think would benefit me more Business Finance or Computer Science? Note the computer science degree would take me a lot longer to accomplish than the business Finance one (1 year and a half compared to 3 extra years)
That is a challenging question to answer. I've met someone who worked there but Renessance Technology is super secretive. For example, I've heard they keep internal information siloed so departments don't fully understand what others are doing. The guy also mentioned they had something that prevented them from being interviewed as well.
@@DimitriBianco thank you greatly for the response and all the amazing content! I can only imagine the company has something so great there that they don't want ppl to go after it, instead, they will reach out to you if you have enough remarkable publications in research, which is easier to track and also in line with what I've heard of them.
Hello Dimitri, I will begin a MSc Computational Finance at UCL nest September. I studied mechanical engineering. What content do you recommend to study/review to prepare myself for this program?
I would get the book, "A Primer For The Mathematics Of Financial Engineering." It covers the basics you will need for the program and can be used to figure out if you have any weaker areas you need to study. My affiliate link for the book on Amazon: amzn.to/2WQX3Up
Hey Dmitri, great video! I was wondering if you could give me some advice. I'll be 22 when I apply for my first undergrad (missed out on college due to health conditions/poor mental health as a result of) - my goal is to become a quant, really love stats, math, coding etc. Do you think it would be sufficient to do an economics degree to break into the finance world and then financial engineering to become a quant? I'm not too keen on studying CompSci for my undergrad. Any advice would be helpful! I have just subscribed to your channel, looking forward to seeing your next videos!
If you want to get into quant finance, I would get a statistics undergrad and then either a statistics masters or an mfe....or a phd in stats if that interests you.
@@DimitriBianco I just graduated with a BSc in Economics, wanting to get into quantitative finance at some point. I see in your reply to @Justin Ward you mention getting a stats undergrad; is my Economics degree a hinderance to get into quant finance eventually? Thinking about doing MFE at Columbia or UCLA.
Financial engineering probably not but applied economics is doable. I started out in financial engineering and transferred to applied economics because it was easier to actually learn the math I was missing. Now that I've graduated I've gone back and learned a lot of the financial engineering that I didn't understand very well. That being said I am discussing the top financial engineering programs. There are financial engineering programs through business schools and they are lighter on the math and made to be completed by business students.
thanks for your reply, where I'm from we have 2 years of pre-university (CEGEP) where I learned calculus 1, calculus 2, and linear algebra. I did very good in calculus 1 and linear algebra but decent in calculus 2. Then I went to business school to get a BComm (I have one last semester). Do you write algos in applied economics too? I'm just a little confused between the two
Financial engineering is a mix of stats, math, computer science, and finance at a level usually above a usual masters degree. The focus of these programs in on financial derivative products due to their mathematical complexity. Applied economics is on using math/stats to understand economics. Algorithms are just math equations. Financial engineering programs expect a lot out of students and are much more rigorous. I wouldn't recommend a financial engineering masters at an engineering/math school with a BComm background. I work in risk management and don't use algorithms but other types of equations. If you want to learn more about algorithms, learn computer science where math is applied to problems using programming.
@@Joey-mg3zl Hey, I understand you are from Québec. I am looking to get a Bcom at Mcgill Desautel. Have you found an answer to this question? Can you become a quant through the bcom program?
You’re probably going to hate this question. What would you do if you were just an average joe that had no desire to go to college, but you you wanted to just self teach everything. Just you. your books and your computer and you want to make tons of money. Thanks
My advice would be to research quant finance more. Even with all the required skills you need a full team of experts to make good money with it. You'll be competing with firms who have millions of dollars in servers, data, and people. You can't just learn to model and think that's enough.
@@DimitriBianco maybe if I was just trying to make a career change and get a better salary would it be best to just learn how to code then? thanks for the tips. I enjoy watching your content a lot.
It depends on the final job you want and what country you want to work in. To work in the US you will need a US degree however many people from average US programs get good jobs without a top degree. If you are applying for a quantitative masters degrees in the US you should have a good chance at getting in if you have a decent math background. Most quant masters students are not from the US because not many Americans do math. Most of my classmates were from Asia or Europe.
I study in the US, though I noticed that nearly all of the students at my school's Quantitative Finance masters program were from East Asia. Slightly unrelated but would having some actuarial exams done make any meaningful boost to one's ability to get into any of these programs/jobs?
@@DimitriBianco an mstat or mmath would help? I did my bachelors in engineering ( comp.sci )which included lots of calculus, probability numerical methods. I want to get into quant career.. Can u pls direct me on a right path ?
You will need a quantitative masters of some sorts. Financial engineering and statistics masters are popular for quants. Remember a masters is a minimum. Most have PhDs.
@@DimitriBianco I am more interested in stats. Believe My CFA will help in some sort as a replacement for financial engineering ???!!!. Donno. Currently am strongly thinking of proceeding a masters is stats .. I have to take it from there.. Thanks for the guidance. :)
I'm doing bachelor's degree in quantitative management, is it a good path to becoming a Quant? Is there a difference between quantitative management and quantitative finance?
You'll want a really strong background in math, statistics, and computer science. I haven't seen a quant management degree so its hard for me to say yes or no.
@@DimitriBianco I already have a degree in Mathematics... The quantitative management degree consists of courses in statistics and others such as simulation, financial mathematics
I landed here because I am doing my research on the "certificate in quantitative finance" and possibly doing it in future, is this a good path to becoming a quant or would I need to do a masters in financial engineering as well. I am an accounting & finance graduate with wealth management experience.
It depends where you want to work. If you want to work in the financial hubs like NYC, London, or HK you'll need a masters in something quantitative if not a PhD. These cities are very competitive and the degree holds more value than a certificate. The CQF was designed for those with industry experience who want to sharpen their skills on the quantitative side.
@@DimitriBianco I am a young graduate based in Southern Africa and it is the most accessible quantitative finance qualification as I would like to make myself more attractive to risk departments in local banks. I believe they are not as advanced as the financial hubs you mentioned in terms of quant. Thank you for your input as it puts into perspective how high I can aim compared to a financial engineering masters.
Hi Dimitri - im really interested in becoming a quant, I am doing my masters in international financial analysis, I have covered econometrics, and derivative security analysis, also I can use Stata - is this suitable? thank you!
I can't say without a lot of information about you and your education. Different programs have different amounts of rigor (depth of materials covered). For example, you can take two students with MFE degrees from two different programs. If one covered the material at a great depth and the other at a shallow depth they will to be equal. The course names could even be the exact same. The only way to determine if you can become a quant is apply for jobs and see if you get offers.
Hi, i have 2 questions, Is an undergrad in CS and a masters in Mathematical finance a great way to enter the industry as a quant? My second question is about the availability of quant jobs. If you live in the Midwest area (Minnesota/Wisconsin) would I have to move towards the northeastern (NY, NJ) areas to find quant jobs?
To answer the first question, "yes that can be a good route." To answer the second question, there are jobs all across the country however to be competitive in the industry you should be flexibly in where you live. So far I have worked in Dallas and NYC. For the Midwest you could work in Chicago, Columbus, Cincinnati, and a few other places. A lot of quants work in credit risk which any large bank will have. Quants also cover other areas of risk, trading, and asset management.
Hi, my question is, will an Operations Research Masters degree pave a path towards becoming a quant? If I choose more finance and math finance electives in it? All OR programs have Financial Engineering subjects as electives and the core really is the same for both the courses. Thank you.
Operations Research (OR) is a route to being a quant but it is quite rare. While OR does provide a few classes you would have to convince a company to hire you and then continue a lot of learning from there. Companies like people who are very specialized and from my experience OR focuses more towards business strategy and analytics than the more theoretical math side (quants). I know a few industry practitioners who are working in OR at banks who want to move to the quant side however they just don't have the math and statistics at a deep enough level. It is possible they will switch in the future but the longer you work in the industry the harder it is to switch. I have seen PhDs in OR apply to the quant side and get in, so it isn't impossible just more challenging.
Hi, I graduated last year from undergraduate and currently am working as a machine learning research engineer in an autonomous driving company in the bay area. I would go to Columbia to start my CS Ph.D. Do you think I have options to get into quant? Thanks!
It's possible if you have a deep enough math background. There are CS guys who work in hedge funds optimizing code but I would consider them programmers not quants. There are quant positions that cover both heavy programming and math however these are usually at smaller firms where jobs aren't as specific. Big firms usually split the programming into it's own job and quant research into a job.
Hi I'm a chartered accountant, having a good financial and commercial knowledge and I'm very much interested in quant analysis. Would u suggest me to do it ?
I'd suggest getting a master's in financial engineering. You're background is great for traditional finance but isn't good for quant finance. Quant finance is mainly mathematicians, engineers, and statisticians.
@@DimitriBianco I would like to say that ,I have an additional knowledge of costing, pricing decisions, linear programming, critical path analysis,derivatives, simulation and other analysis concepts which were part of the course curriculum besides the traditional commercial aspects and I've came through with good grades. I hope ull reconsider these cause I'm highly interested into analytical thinking and decision making and found that quant degree helps me with it.
Im currently studying Econometrics and Operations Research in the Netherlands as a Bachelor, afterwards i want to do a master Quantitative Finance and Actuarial science. Would this be a good route to be a Quantitative analyst/researcher? Or would Econometrics and Mathematical Economics be a better master? Do you need a phd to be a Quantitative researcher?
A lot of quantitative researchers have PhDs and a lot of firms require it. If the program has the word actuarial in it and you want to do quantitative finance, I would avoid it. At least in the US. Those with an actuary degree usually only work with insurance and basic finance. Econometrics and math would be a better path but remember a PhD is usually desired.
I would select one language and try to learn it as good as you can. Programming is a useful skill for many industries these days including quantitative finance.
i madness Bros many quants I’ve talked to recommended python for prototyping, and c++ for quickness and efficiency. Then you need to learn conversions from other languages into c++ like matlab into c++.
i madness Bros python, C++ is one of the if not hardest languages to learn and use day to day, python is the exact opposite from that. The difference is that C++ is highly specific and as a result it’s extremely efficient and fast in execution, python again is the opposite, but it’s still super powerful nonetheless.
hi, thanks for sharing your experience. i like your videos. i have master degree in economics with mathematical economics, basic econometrics and quantitative techniques as a compulsory subject I want to pursue quant career do I qualify or I have to take some programming course as well?
It depends on the specific job you want. At a minimum you should know a stats programming language such as R, SAS, Stata, Matlab, or etc. Quantitative skills aren't very useful unless you can apply them through programming. I personally like Python for programming statistics and it is free. R is more popular for stats and it is also free. Thanks for watching my videos!
Hi Dimitri, I'm studying a double degree in Applied Mathematics and Economics. I'm only 18 and I've been looking for what I wanted to do for a living and I think this would be a perfect job for me. ¿How helpful do you think my college degree in economics would be? ¿Would it be better just to focus on math? I also must said that I'm not american and my college is the one which more economics graduates sends to top Universities in USA, I really don't know how relevant it's in mathematics. (Must clarify that the economics program in my college has a good cuantity of math per se)Thank you for reading, and I'm sorry, I'm posting it in more videos so I have more chances of being readen.
In general I don't think an economics degree will prepare you very well however it is possible (I have an applied economics masters). Your Applied Mathematics degree would better prepare you for grad school. If you come to the US a graduate degree (Masters or PhD) is required. I think Europe is the same or going towards that standard as well.
Hi! Do you think an actuarial science degree and a masters in applied math could help me become a quant? Thank you PD: sorry for any mistake I could have made in my question, I'm from Latin America
Actuarial science and applied mathematics are great degrees and could help you in becoming a quant. If you want to go into quant finance I would encourage you to study finance. It looks good to have either an FRM or CFA because it shows you understand finance as well as math and stats.
Hi! Thanks for your sharing. Is Quant a suitable position for a PhD student whose research area is about Financial Mathematics and what kind of company is great as a start?
With a PhD Financial Mathematics there are a lot of options. As a few examples: researcher at a hedge fund like Citadel, model developer, implementer, or validater at a commercial bank doing risk management, engineer derivative products for a sell side bank, develop investment strategies at a wealth management or hedge fund.
To get an idea of what jobs are available, look at www.quantfinancejobs.com/. They provide job listings for high-end quant jobs.
Hello dimitri,
I'm currently a second year university student studying actuarial science. I've passed the first 2 exams (Probability and financial math) and am studying for the third (Investment and financial markets) which introduces us to derivatives and different ways of modeling them. This is absolutely fascinating to me and is making me want to make the jump to being a quant. My question is, what should I do during undergrad in order to be able to secure internship positions at quantitative trading firms? Further, when applying, should I even mention the knowledge of Probability/Financial Math/Financial markets given to me from my actuarial exams or will it count for nothing?
Yoo second year actuarial science student doing derivatives in depth next sem. Wanna be a quant so bad did u have any luck?
Hi, sorry if you're getting this comment twice; I'm not sure if the first one posted.
I have the following knowledge and experience in the four categories you listed:
Math: PhD (although in pure math, not applied), have taught math courses (including Calculus sequence, Linear Algebra, Differential Equations) at colleges last 7+ years
Statistics: Taught the same introductory statistics course several times, but very little knowledge/experience outside of that
Computer Science: Cumulative about a year programming, mostly in Java, a very little in Python
Finance: Investing in stocks and mutual funds over the past three years, checked stock market multiple times daily over a year
In summary, lots of knowledge in math (though not so much in applied), and a "dabbling" knowledge in the other three. What would I have to do to boost my qualifications to become a quant? I'm not even sure which of the six types of quant you've talked about in other videos I'd most likely be interested in. What recommendations would you make to someone like me?
Thanks a bunch for the videos and in advance for the advice.
You should be in a fairly good position to be a quant if it interests you. I'd start off with preparing a resume and reviewing quant finance topics and then submit job applications. If you can get a job based on your current experiences and education this would be the best route. If you end up interviewing at a bunch of places and it seems like the feedback is related to lacking experience you might consider going back for a financial engineering masters however I feel your background should be enough without the masters.
@@DimitriBianco Thanks a bunch for your response. Two questions:
1. Based on your "6 types of quants" video, I would think I would want to be a research quant, as you say it's "mentally stimulating and stress-free," both of which I think may be appealing to me. Would you agree that type of quant is what a math PhD would typically be most interested in?
2. If I did interview and got that feedback that I was lacking experience, do you think I would be able to gain the experience or knowledge necessary by simply reading up about financial engineering at the masters level instead of having to actually enroll in a masters program?
1) Yes, a lot of math PhDs end up on the research side.
2) I think you should be able to self-learn but it will all come down to the self marketing. You might find the book linked below helpful. It covers financial statistical analysis while using R. It should be helpful in strengthening your programming and stats.
amzn.to/2FS6vlV
Hi Dimitri...You mentioned the areas in which we need expertise, to be a quant . But can you also shed light on what kind of skills or traits are required? Like capability to innovate, or fast mental calculations etc. Thank you
This is a great topic. I'll make a video on it. In general non-quant areas such as traditional traders (this is a controversial opinion) need speed in thinking. Those who work in highly quantitative areas have to look at a variety of complex relationships and these require the ability to spend a lot of time thinking deeply about one topic. For example, I am obsessed with time-series and have spent over four years applying it and developing theoretical knowledge of what different model structures mean. Even after four years plus two years of grad school I feel I am barely scratching the surface. Passion about quant topics is another trait that separates the average quant from those who I would consider experts.
So why did I even get interviews at Akuna and Optiver for quant trading? The questions really caught me off gaurd completely bombed
Hey Demitri, I'm currently attending a community college to get my associates in Computer Science and my associates in Business Administration with a concentration in Data Analytics(my school did not offer any other alternative for associates). I basically have the degree already and I'm about to transfer to a four year university but they aren't letting me double major for my bachelor's which B.S degree do you think would benefit me more Business Finance or Computer Science? Note the computer science degree would take me a lot longer to accomplish than the business Finance one (1 year and a half compared to 3 extra years)
Could you make a video about ren tech? (how to get in and things alike)
That is a challenging question to answer. I've met someone who worked there but Renessance Technology is super secretive. For example, I've heard they keep internal information siloed so departments don't fully understand what others are doing. The guy also mentioned they had something that prevented them from being interviewed as well.
@@DimitriBianco thank you greatly for the response and all the amazing content!
I can only imagine the company has something so great there that they don't want ppl to go after it, instead, they will reach out to you if you have enough remarkable publications in research, which is easier to track and also in line with what I've heard of them.
Hello Dimitri, I will begin a MSc Computational Finance at UCL nest September. I studied mechanical engineering. What content do you recommend to study/review to prepare myself for this program?
I would get the book, "A Primer For The Mathematics Of Financial Engineering." It covers the basics you will need for the program and can be used to figure out if you have any weaker areas you need to study.
My affiliate link for the book on Amazon:
amzn.to/2WQX3Up
Dimitri Bianco Thanks A lot!
Hey Dmitri, great video! I was wondering if you could give me some advice. I'll be 22 when I apply for my first undergrad (missed out on college due to health conditions/poor mental health as a result of) - my goal is to become a quant, really love stats, math, coding etc. Do you think it would be sufficient to do an economics degree to break into the finance world and then financial engineering to become a quant? I'm not too keen on studying CompSci for my undergrad. Any advice would be helpful!
I have just subscribed to your channel, looking forward to seeing your next videos!
If you want to get into quant finance, I would get a statistics undergrad and then either a statistics masters or an mfe....or a phd in stats if that interests you.
@@DimitriBianco I just graduated with a BSc in Economics, wanting to get into quantitative finance at some point. I see in your reply to @Justin Ward you mention getting a stats undergrad; is my Economics degree a hinderance to get into quant finance eventually? Thinking about doing MFE at Columbia or UCLA.
@@DimitriBianco thank you!
hey dimitri, im a finance undergraduate. Is the math you learn in financial engineering/applied economics doable as a finance student?
Financial engineering probably not but applied economics is doable. I started out in financial engineering and transferred to applied economics because it was easier to actually learn the math I was missing. Now that I've graduated I've gone back and learned a lot of the financial engineering that I didn't understand very well. That being said I am discussing the top financial engineering programs. There are financial engineering programs through business schools and they are lighter on the math and made to be completed by business students.
thanks for your reply, where I'm from we have 2 years of pre-university (CEGEP) where I learned calculus 1, calculus 2, and linear algebra. I did very good in calculus 1 and linear algebra but decent in calculus 2. Then I went to business school to get a BComm (I have one last semester). Do you write algos in applied economics too? I'm just a little confused between the two
Financial engineering is a mix of stats, math, computer science, and finance at a level usually above a usual masters degree. The focus of these programs in on financial derivative products due to their mathematical complexity.
Applied economics is on using math/stats to understand economics.
Algorithms are just math equations. Financial engineering programs expect a lot out of students and are much more rigorous. I wouldn't recommend a financial engineering masters at an engineering/math school with a BComm background. I work in risk management and don't use algorithms but other types of equations. If you want to learn more about algorithms, learn computer science where math is applied to problems using programming.
Dimitri Bianco thanks Dimitri i will need to decide soon
@@Joey-mg3zl Hey, I understand you are from Québec. I am looking to get a Bcom at Mcgill Desautel. Have you found an answer to this question? Can you become a quant through the bcom program?
You’re probably going to hate this question. What would you do if you were just an average joe that had no desire to go to college, but you you wanted to just self teach everything.
Just you. your books and your computer and you want to make tons of money.
Thanks
My advice would be to research quant finance more. Even with all the required skills you need a full team of experts to make good money with it. You'll be competing with firms who have millions of dollars in servers, data, and people. You can't just learn to model and think that's enough.
@@DimitriBianco maybe if I was just trying to make a career change and get a better salary would it be best to just learn how to code then?
thanks for the tips.
I enjoy watching your content a lot.
Can computer science student become a quant in finance ?
"You need a Master's Degree." I'm out.
😂😂😂😂
Would it be realistic to become one with a 5/120 on the Putnam freshman year?
Влад Кузь Yes it is possible. You'll still need a master's degree though, at least in the US.
Would it be imperative to go to a top school for math (undergrad and grad) to get a job in quantitative finance?
It depends on the final job you want and what country you want to work in. To work in the US you will need a US degree however many people from average US programs get good jobs without a top degree. If you are applying for a quantitative masters degrees in the US you should have a good chance at getting in if you have a decent math background. Most quant masters students are not from the US because not many Americans do math. Most of my classmates were from Asia or Europe.
I study in the US, though I noticed that nearly all of the students at my school's Quantitative Finance masters program were from East Asia.
Slightly unrelated but would having some actuarial exams done make any meaningful boost to one's ability to get into any of these programs/jobs?
I don't think the actuarial exams would add much value.
I have a Mtech software systems, a CFA degree and am currently into machine learning projects.. can I get near the quant area?
No, you still have years of math and programming to go.
@@DimitriBianco an mstat or mmath would help? I did my bachelors in engineering ( comp.sci )which included lots of calculus, probability numerical methods. I want to get into quant career.. Can u pls direct me on a right path ?
You will need a quantitative masters of some sorts. Financial engineering and statistics masters are popular for quants. Remember a masters is a minimum. Most have PhDs.
@@DimitriBianco I am more interested in stats. Believe My CFA will help in some sort as a replacement for financial engineering ???!!!. Donno. Currently am strongly thinking of proceeding a masters is stats .. I have to take it from there..
Thanks for the guidance. :)
I'm doing bachelor's degree in quantitative management, is it a good path to becoming a Quant? Is there a difference between quantitative management and quantitative finance?
You'll want a really strong background in math, statistics, and computer science. I haven't seen a quant management degree so its hard for me to say yes or no.
@@DimitriBianco I already have a degree in Mathematics... The quantitative management degree consists of courses in statistics and others such as simulation, financial mathematics
I landed here because I am doing my research on the "certificate in quantitative finance" and possibly doing it in future, is this a good path to becoming a quant or would I need to do a masters in financial engineering as well. I am an accounting & finance graduate with wealth management experience.
It depends where you want to work. If you want to work in the financial hubs like NYC, London, or HK you'll need a masters in something quantitative if not a PhD. These cities are very competitive and the degree holds more value than a certificate. The CQF was designed for those with industry experience who want to sharpen their skills on the quantitative side.
@@DimitriBianco I am a young graduate based in Southern Africa and it is the most accessible quantitative finance qualification as I would like to make myself more attractive to risk departments in local banks. I believe they are not as advanced as the financial hubs you mentioned in terms of quant. Thank you for your input as it puts into perspective how high I can aim compared to a financial engineering masters.
Hi Dimitri - im really interested in becoming a quant, I am doing my masters in international financial analysis, I have covered econometrics, and derivative security analysis, also I can use Stata - is this suitable? thank you!
I can't say without a lot of information about you and your education. Different programs have different amounts of rigor (depth of materials covered). For example, you can take two students with MFE degrees from two different programs. If one covered the material at a great depth and the other at a shallow depth they will to be equal. The course names could even be the exact same.
The only way to determine if you can become a quant is apply for jobs and see if you get offers.
Hi, i have 2 questions, Is an undergrad in CS and a masters in Mathematical finance a great way to enter the industry as a quant?
My second question is about the availability of quant jobs. If you live in the Midwest area (Minnesota/Wisconsin) would I have to move towards the northeastern (NY, NJ) areas to find quant jobs?
To answer the first question, "yes that can be a good route."
To answer the second question, there are jobs all across the country however to be competitive in the industry you should be flexibly in where you live. So far I have worked in Dallas and NYC. For the Midwest you could work in Chicago, Columbus, Cincinnati, and a few other places. A lot of quants work in credit risk which any large bank will have. Quants also cover other areas of risk, trading, and asset management.
Dimitri Bianco hi i am studying actuary then should I do a master in quant?
Hi, my question is, will an Operations Research Masters degree pave a path towards becoming a quant? If I choose more finance and math finance electives in it? All OR programs have Financial Engineering subjects as electives and the core really is the same for both the courses.
Thank you.
Operations Research (OR) is a route to being a quant but it is quite rare. While OR does provide a few classes you would have to convince a company to hire you and then continue a lot of learning from there. Companies like people who are very specialized and from my experience OR focuses more towards business strategy and analytics than the more theoretical math side (quants). I know a few industry practitioners who are working in OR at banks who want to move to the quant side however they just don't have the math and statistics at a deep enough level. It is possible they will switch in the future but the longer you work in the industry the harder it is to switch. I have seen PhDs in OR apply to the quant side and get in, so it isn't impossible just more challenging.
Hi, I graduated last year from undergraduate and currently am working as a machine learning research engineer in an autonomous driving company in the bay area. I would go to Columbia to start my CS Ph.D. Do you think I have options to get into quant? Thanks!
It's possible if you have a deep enough math background. There are CS guys who work in hedge funds optimizing code but I would consider them programmers not quants. There are quant positions that cover both heavy programming and math however these are usually at smaller firms where jobs aren't as specific. Big firms usually split the programming into it's own job and quant research into a job.
Hi I'm a chartered accountant, having a good financial and commercial knowledge and I'm very much interested in quant analysis.
Would u suggest me to do it ?
I'd suggest getting a master's in financial engineering. You're background is great for traditional finance but isn't good for quant finance. Quant finance is mainly mathematicians, engineers, and statisticians.
@@DimitriBianco
I would like to say that ,I have an additional knowledge of costing, pricing decisions, linear programming, critical path analysis,derivatives, simulation and other analysis concepts which were part of the course curriculum besides the traditional commercial aspects and I've came through with good grades.
I hope ull reconsider these cause I'm highly interested into analytical thinking and decision making and found that quant degree helps me with it.
Im currently studying Econometrics and Operations Research in the Netherlands as a Bachelor, afterwards i want to do a master Quantitative Finance and Actuarial science. Would this be a good route to be a Quantitative analyst/researcher? Or would Econometrics and Mathematical Economics be a better master?
Do you need a phd to be a Quantitative researcher?
A lot of quantitative researchers have PhDs and a lot of firms require it. If the program has the word actuarial in it and you want to do quantitative finance, I would avoid it. At least in the US. Those with an actuary degree usually only work with insurance and basic finance. Econometrics and math would be a better path but remember a PhD is usually desired.
@@DimitriBianco thanks for your reply!
I'm 17. If I want to become a quant, would it be a good idea to start learning a programming language now such as R?
I would select one language and try to learn it as good as you can. Programming is a useful skill for many industries these days including quantitative finance.
i madness Bros many quants I’ve talked to recommended python for prototyping, and c++ for quickness and efficiency. Then you need to learn conversions from other languages into c++ like matlab into c++.
@@DimitriBianco Do you have a recommendation for which programming language I should start on?
@@zBMatt Do you think it would be better for me to start by learning python or C++ as someone who has little experience in programming?
i madness Bros python, C++ is one of the if not hardest languages to learn and use day to day, python is the exact opposite from that. The difference is that C++ is highly specific and as a result it’s extremely efficient and fast in execution, python again is the opposite, but it’s still super powerful nonetheless.
hi, thanks for sharing your experience. i like your videos. i have master degree in economics with mathematical economics, basic econometrics and quantitative techniques as a compulsory subject I want to pursue quant career do I qualify or I have to take some programming course as well?
It depends on the specific job you want. At a minimum you should know a stats programming language such as R, SAS, Stata, Matlab, or etc. Quantitative skills aren't very useful unless you can apply them through programming. I personally like Python for programming statistics and it is free. R is more popular for stats and it is also free.
Thanks for watching my videos!
I know a bunch of people who don't have a masters. But they are all from top colleges.
Hi Dimitri, I'm studying a double degree in Applied Mathematics and Economics. I'm only 18 and I've been looking for what I wanted to do for a living and I think this would be a perfect job for me. ¿How helpful do you think my college degree in economics would be? ¿Would it be better just to focus on math? I also must said that I'm not american and my college is the one which more economics graduates sends to top Universities in USA, I really don't know how relevant it's in mathematics. (Must clarify that the economics program in my college has a good cuantity of math per se)Thank you for reading, and I'm sorry, I'm posting it in more videos so I have more chances of being readen.
In general I don't think an economics degree will prepare you very well however it is possible (I have an applied economics masters). Your Applied Mathematics degree would better prepare you for grad school. If you come to the US a graduate degree (Masters or PhD) is required. I think Europe is the same or going towards that standard as well.
Hi!
Do you think an actuarial science degree and a masters in applied math could help me become a quant?
Thank you
PD: sorry for any mistake I could have made in my question, I'm from Latin America
Actuarial science and applied mathematics are great degrees and could help you in becoming a quant. If you want to go into quant finance I would encourage you to study finance. It looks good to have either an FRM or CFA because it shows you understand finance as well as math and stats.
You don’t have to have master degree