From Consulting to Quant

Kearney
TrainingAl

Go to company page Kearney

TrainingAl
Sep 13, 2020 6 Comments

Hello,
I’m a consultant looking to do an MBA next year to ease my transition in the US market (I’m from Europe). If I manage to end up at programs with quant finance concentrations like wharton or booth, is it possible to switch to quant finance post MBA? I have an MSc in Robotics Engineering and willing to put the effort in the next 3 years to score this

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TOP 6 Comments
  • New
    moreTC

    New

    moreTC
    No, you can't break into quant roles with an MBA. Usually it takes a PhD in math, stats, or physics. CS is usually NOT good enough.

    You need to know proof based statistics, real analysis, stochastic calculus, measure theoretic probability, and leetcode medium to hard data structures and algorithms questions.

    Also, BB banks are tier 3 places for quants. They price exotic derivatives that no one actually trades. No transferable skis. Bridgewater is tier 2 simply because of their fundamentalist origins and philosophy. Citadel Securities (market making) is legit and tier 1. Citadel the hedge fund is tier 2.
    Sep 13, 2020 3
    • Citadel
      beep100k

      Go to company page Citadel

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      beep100k
      Did you say CS is not good enough for a quant role? Majority of QRs I know did their degree in CS you’re full of shit.
      Sep 13, 2020
    • New
      h6Aj1A

      New

      h6Aj1A
      moreTC is wrong about about the CS major but right about everything else
      Sep 13, 2020
  • I think moreTC makes some good points but I also don't agree with the necessity of PhD or and that a CS degree won't be good enough. I have analyzed close to hundred profiles on LinkedIn of Quants from Citadel, JS, TS (to understand for myself as well) - and roughly 20% of them were bachelor's, 40% masters and 40% PhD. They were almost equally split between people from math or stats or cs backgrounds but also people from physics and molecular biology or financial engineering (though the latter group is certainly minority).

    What is common amongst all profiles is a strong quantitative background. You can find people from financial engineering background in these firms but they have a strong quantitative background. When I say quantitative, I am referring to Advanced probability and stats, machine learning, time series analysis and some coding background. I am sure they also check math/problem solving etc. So I would suggest if your sole goal is to be a Quant, go for MS in Applied statistics or Machine learning or Math or Computer Science but combined Statistics and probability and Machine learning courses (either through core or electives). The exact name of the degree won't be very relevant imo.

    All the best.
    Sep 13, 2020 1
    • Kearney
      TrainingAl

      Go to company page Kearney

      TrainingAl
      OP
      The problem is that I don’t have the financial strength to do such a move to the US by myself... the idea would be to go into a two year MBA paid by my company and there take all the electives from the relevant graduate programs. If everything works I hope to be “bought out” by some firm there. That’s why I was talking about MBA not MSc
      Sep 14, 2020