I have a bachelor's in Mech Engineering from a reputable, but not amazing, NYC school. Currently pursuing a masters in Computer science with a Specialization in ML from Georgia Techs OMSCS and work as a data scientist at SEI. The idea how doing quantitative finance at a large bank sounds very appealing because 1. I like CS and ML 2. I like finance 3. I like math 4. I like making lots of money 5. I don't mind long hours What is my career progression to get into one of the large quant shops? I was thinking I may have to finish my CS Master's and then get something like Columbia's master's in financial engineering after. The only thing I'm entirely opposed to is getting a PhD. Thank you!
Wait until your second to last semester. Apply as an intern for a quant role and then get in after you finish with school. You have a lot of the qualifications, just missing the experience. But if you get an internship in a quant role you are set. If you get in now (as a non-quant) it will be harder to move to quant.
CS masters is reasonable for investment bank, but somewhat under-qualified for hedge funds. I would try to get a relevant internship and leverage that into an interview.
What hedge funds are looking for ? Cs phd ?
Also worth noting that you should consider tech companies. Compensation for ML experience at FAANG competitive (probably more actually) with similar roles at banks.
I think this is a bad idea. Quant work is dying. You are better off in tech firms esp given you don't have an MFE nor PhD in which case the older sr. Quants are going to be dissing u mainly in fear of their own jobs.
It’s more just that investment banks are dying
I'd actually recommend trying to work for a clearing house or a startup. The non blue chip hedge funds are collapsing (resumes keep popping up at investment banks) and capital markets divisions of banks are in structural decline...
Previously prop tradings were being done by every tom dick and harry.. including the sell side.. after the 2008 collapse.. all sell sides have stopped doimg it. Prop trading.. Quant stuff is is only being done in hedge funds.. investment banks chunks of profits comes more prime broker service.. lending.. commercial banking... M&A.. core investment banking.. like deal making.. financing.. and more recently.. providing more retail oriented stuffs luke Marcus.. YouInvest etc.. quant funds are still doing great.. its the macro ones which are suffering... Ray Dalio is trying too hard to induce recession.. because his most bets are on that that the market would fall in recession
What you meant it is the macro ones that are suffering.
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When will you have your masters from Georgia tech? I would start looking 3-4 months before you are done. Also consider non banks ( Citadel, AQR etc)
2 years to finish master's probably so still a way off unfortunately. Actually applying to some Citadel and AQR jobs now but not for Quant roles.