Currently SWE @ Google. I want to switch to Quant reaearch roles in firms like two sigma, jump, jane street, citadel etc. Will these companies consider me for such roles? I have background in computer science and mathematics. Thanks!
If you’ve been working as SWE, it may be difficult to convince trading firms to switch you to QR. You will need a very strong math and statistics background - maybe consider quant developer type roles?
I agree but quant dev pays much less? OP probably wants to maximize TC.
There’s less upside than QR but I think research role at a good firm is going to be very difficult for OP to get. Quant dev is a more reasonable stepping stone to where he wants to go
Thanks for the insights 🙂
An important question to ask is - How are quant funds or prop trading adding value to the economy or people in general. Are they really building something or just making profit by betting the right way? It could give you a clue to their long term prospects. Ultimately trading is about buying and selling certain securities with the right timing - Why is this returning such large profits ? Why should predicting price of a Google stock become more valuable than bulding Google itself. https://www.investopedia.com/articles/trading/09/quant-strategies.asp
U r nuts stay at Google Quants are dead end these days Nobody is making 1m unless they are an MD and grandfsthered in from old days of glory.
That’s because you work at Bank of America. Investment banks are dying - the quant industry as a whole is doing very well
That is true on banks dying but the #s of quants isn't going up its shrinking look at MFE grad population and phDs are headed to Data Science gigs
I concur to a certain extent. The old way of finance is dying. Everyone in moving to blockchain. This is currently happening in settlements, only a matter of time before it goes to front office. Investment bank is definitely gone and prop trading may need to relearn everything. And we haven't even considered bitcoin or cryptocurrencies yet. Blockchain is a fundamentally different way of thinking about finance. If Libra goes live it could change everything.
No one in prop trading cares at all about blockchain or Libra. I don’t think you understand what prop traders are doing or how they make money
Here's something I posted earlier. https://www.investopedia.com/articles/trading/09/quant-strategies.asp. I believe most people understand prop trading. This is basically arbitrage but it requires exchanges to function in a certain way. However amazing citadel prop trading is, it cannot make money without trading on various exchanges. Blockchain will completely change what exchanges do. I dare say it would eliminate most exchanges.
Don't do it. Stay at Google. The little bit of extra money doesn't worth the stress that comes with it.
Mane true for Amazon and Facebook, but def not Google
Hi there, I got Jane Street quant researcher offer earlier this year along with google offer. The interview was way more interesting there compare to google and I would say average people are smarter. I have math PhD and have a couple friends in those firms doing quant research. Make sure you know lots of theoritical probability (I actually got to write some proofs in the interview). Comp wise, don’t trust those replys, their offer was better than google L4 but not absolutely crazy either.
Also, fyi only one out of my 6-7 onsite interview rounds were coding
Agreed about starting comp not being as impressive as what you get after proving yourself. My initial offer beat Google by about 10%, but actual first-year comp was nearly double.
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Yes these roles will primarily check your math skills. They also ask you trading related stuff like - actual calculations on Bond or Derivatives (valuations/ pricing). Some finance theory too. Unless its entry level, then it maybe just math. You may also get math puzzles. Coding should be a cakewalk for FAANG. Good luck! Your bonus will be tied to how profitable the traders strategy is rather than just your coding skills.
None of these places will ask any valuations, pricing or finance questions.
It depends on the company. I've been asked to price a bond and derive interest rates multiple times even for plain SWE roles. This happened even at investment banks. Even though the job may not need it, they probably use it to eliminate candidates.