| Topic Name: |
IT -> Quant |
| Message Name: |
what can you program in? |
| Date Posted: |
08/25/2002 |
| In Reply To: |
Need some advice on how to get into Finance Industry.
I am currently working in software development. Six years ago, after getting a MS in Computer Science in a top 10 school, I went to a software start-up thinking that I might change the world.
Now after many lines of code and the IT downturn, I realized the job is not intellectually stimulating anymore. In addition, the salary in Software industry are likely to drop rather than go up.
Since I also have a MS in Mathematics, I am very interested in Quant or modeling type of work. I have good training in applied mathematics and I am relatively sharp (I earned both MS degrees when I was 19 and I was on a Fellowship in a PhD program.) If I spent sometime to pick up the knowledge in financial applications, I should be able to excel in such position.
So what is the quick way to land a position? Do I have to have some type of formal training? I do not like the MBA/PhD in Finance route, because it takes too long. I heard about CFA certificates and it also takes three years. However, at least, I could start to look for a job after passing level 1. I also noticed a new type of program, MS in Financial Math, especially the part time one in NYU and Columbia, is much doable with only 10 courses. Nevertheless, I think it is a little weird to get another MS in mathematics though with a different concentration.
1) Do Wall Street firms take in people with good analytical abilities, but little experience and provide on-job training? For instance, a trainee program (for Quant)?
2) What about landing a job in Wall Street IT department now? (Then, move into a Quant later.) Will it help much if I spent a year to pass CFA level 1, or read some financial books in my spare time?
3) Even if I get into a Quant position, I am wondering if lacking a PhD will severely limit my potentials (e.g. Are MS and PhD treated differently?)
4) Any other suggestions?
Thanks for your time! :)
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| Message: |
Am curious...c/c++, vb/excel, perl/scripting, databases? Those can help in landing a job. You seem bright, so if you have a good background in those and want to apply them, you could break into a s&t type IT position, since s&t relies on technology more so than banking.
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