Can engineers move to quant side within Bloomberg?

Google anniehud
Oct 19 19 Comments

Ask for my spouse. He’ll join Bloomberg as software developer. He’s from CS background and always has huge interest in math and finance, and would possibly develop a future career in quant. however he only has CS master degree.

So curious inside Bloomberg is it possible to switch from engineers to quant side? Or generally any recommendation of teams that could better prepare for a future quantitative finance career? We know many teams involves finance domain but mostly still engineer work to build up product. So any teams involve both engineers and analytics/quant/machine learning work?

Any advice is appreciated.

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TOP 19 Comments
  • Microsoft UMbR31
    Bloomberg supplies financial data to traders (funds / companies). They don't trade themselves. So you can't move to quant roles "within Bloomberg"
    Oct 19 14
    • Bloomberg NoRoyDonk
      There are quants at bbg. As a comment above mentioned, theyre used for algo driven bond pricing services, yield curves, securitized products, derivatives, etc
      Oct 20
    • Google anniehud
      OP
      So sounds all like the quant on sell-side?
      Oct 20
    • Bloomberg d5s28nr327
      There is no "buy side" or "sell side" at Bloomberg, since it's not a trading firm. And as mentioned previously, there is a big difference between a quant dev and an actual quant (aka quant researcher)
      Oct 21
    • E*Trade / Finance cbEV72
      Why does he want to be a quant all of a sudden? He lived his entire life being happy without math, why now?
      Oct 21
    • Bloomberg AMI<GO>
      Has your husband placed in the IMO, IOI or Putnam contest?
      Oct 22
  • Bloomberg d5s28nr327
    Quant devs at Bloomberg mostly work on pricing securities and derivatives. The skills involved are at best somewhat transferable to a quant research role, and should be easily transferable to another quant dev role.

    If your husband wants to become a quantitative researcher (which is what most people mean by "quant") and can't become one now, he should pursue data science and/or a math/stats/MFE degree from a top school. The quants I've met without a math degree from a top school just join banks, second tier hedge funds and other firms for credit, lending and asset management quant roles, for similar or less comp than a software engineer or data scientist, often with longer hours. If he wants to become a quant at a top hedge fund that pays quants more than tech jobs or the above roles, it's not going to happen without an advanced math degree and some serious math skills. Even an MFE isn't sufficient at most of the top hedge funds. A quick LinkedIn search for quantitative researchers at Citadel, Two Sigma and Jane Street confirms the above. Most of them have also published research and/or won math competitions.

    TL;DR: there is a significant pay difference between quant and quant dev. Generally, the hourly rate for the devs is better at large tech companies than in hedge funds, and the comp is more stable with better WLB.
    Oct 19 3
    • Google anniehud
      OP
      Thanks! Yes my husband definitely will pursue some part-time MFE degree, but for now, he needs to secure a team that fits this long-term career goal. So for the derivatives pricing team, what exactly the devs work on? I guess still c++ to build the product rather than running modelling?
      Oct 19
    • Google anniehud
      OP
      Also what about portfolio and equity teams? Do they also have quant dev positions?
      Oct 19
    • Bloomberg d5s28nr327
      From what I've seen, the derivatives pricing devs mostly work in C++. It's possible they're using some Python now.

      As to your latter question, I'm not sure. He should be able to check this quite easily by running PATH<GO> in the Terminal and running a search to view internal job postings. If he hasn't joined yet, he can ask the recruiter or search LinkedIn.
      Oct 19

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