I’m currently working in a front office role in an asset manager as an analytics analyst with the background in math (top 40 private school but lame gpa).
I saw friends who work in tier 1 trading firms do earns like 3-5 times more than I do. And I’m quite fascinated by their interaction w/ the market and pricing strategies. As I’m still in early stage of the career, I’m thinking to make a change.
Here are the plans that I thought:
1) CVN operational research/applied math (master) at Columbia and then apply through headhunters
2) full time master in math at top 10 institutes and then apply through new grad program.
3) PhD program in top 20 institutes and then apply through new grad program.
I look at JS employees’ LinkedIn and feel like most ppl graduate from Bachelor degree as a prop trader. I wonder if there is still hope for me to get into a prop trading firm as a prop trader from my current stage.
- Expedia cocomoWent through a few tier 1 prop shop interviews out of college, and have a few friends who joined. I’d advise you to really think carefully about this. The number of traders recruited into firms you’d want to join are way fewer than you think. And the guys that do get recruited are insanely mathematically quick and intuitive. They live, breathe, and eat Bayesian stats on a deep and fundamental level. And, tbh, a lot of them (not all) are arrogant dicks because of their success.
- tsukino I’ll disagree here. SWE interviews at Google are much much easier than quant trading interviews at Jane Street, Citadel, DE Shaw, etc.
Agree on the point there is incredible potential in tech. But I wouldn’t put LC hards as some impressive barrier, the traders have to know all those LC questions + lots of hard math / stats. The resume screen is also a lot tougher at HFTs than at Google.
- Having interviewed for all of these roles and worked at a few, I respectfully beg to differ.
It depends on what you studied. Try getting a statstics major to pass LC hard. Yet they'll have better luck interviewing for quant roles.
Discretionary/quant traders do not need LC hard. Maybe easy in rare cases. And the math & stats is not "hard" either. Well, maybe it seems advanced for SWEs who took 3 math courses in college.
I agree on HFT though. That's a whole different game from non-algo trading.
- Pure Storage lololol012so ur friends... early stage in their career too... making 420-600k as analyst... i'm quite sure this is not possible lol
- If going to graduate school, do it in CS. You’ll be more attractive to prop trading firms and tech companies.