SWE to quant roles?

Oct 31, 2019 47 Comments

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!

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TOP 47 Comments
  • Bank of America boa177
    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.
    Oct 31, 2019 10
    • Instinet / Eng
      qEXV86

      Instinet Eng

      PRE
      Société Générale
      qEXV86more
      JS sounds terrible, ocaml is useless outside JS
      Nov 1, 2019
    • Citadel Securities bluetiger
      I would say closer to 50/week but still not “horrible” in my opinion. I do agree Ocaml is a fairly big downside though
      Nov 1, 2019
  • Bank of America wonderbro
    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.
    Nov 1, 2019 5
    • Jump Trading / Eng
      Jtrading

      Jump Trading Eng

      PRE
      Facebook
      Jtradingmore
      Lol yeah many prop shops have doubled in size in the last decade
      Nov 2, 2019
    • Prudential -asdf-
      There's a lot of consolidation in the quant HF industry. The larger brand name ones are doing well whereas the smaller ones are struggling to keep up.
      Nov 2, 2019
  • Citadel Securities / Eng bluetiger
    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?
    Oct 31, 2019 13
    • Jane Street Capital / Eng sinsivt
      For senior devs I was thinking the 1-2 million range, although there isn't much visibility at that level and I've been surprised before. I would expect quants to make substantially more.
      Nov 1, 2019
    • Goldman Sachs fake engineer
      I'm super biased, but I think people who are strong at math can do fine for themselves as researchers. I've always worked with PhDs in my jobs and I am often better than them at solving novel, open ended problems.

      It's true getting hired is going to be hard, but you can build experience and pivot into research. I have met a lot of CS bachelor's friends in NYC that eventually ran their own strategies as PMs. Many HFT quants are CS bachelor's who weren't particularly good at math as well.

      TC is more a function of pay structure than anything else. If you get a good cut of PnL you can even make 8 digits in a good year. If you work at a bank like me you have no hope of being paid well until making MD.
      Nov 3, 2019
  • Chase MiMN61
    Don't do it. Stay at Google. The little bit of extra money doesn't worth the stress that comes with it.
    Nov 3, 2019 2
    • Jane Street Capital eudj
      I can't speak for researchers, but all the devs I know who came from FANG find JS less stressful.
      Nov 3, 2019
    • Schonfeld / Eng
      9527

      Schonfeld Eng

      PRE
      Intel, morganstanley, citadel, etrade
      BIO
      coding monkey
      9527more
      Mane true for Amazon and Facebook, but def not Google
      Nov 4, 2019
  • Bank of America boa177
    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.
    Nov 2, 2019 5
    • Bank of America boa177
      Lol blockchain has almost nothing to do with bitcoin. It can be customized to do anything. It looks like you know nothing about blockchain. Trust me I've worked on order books for 10+ years and you have not.
      Blockchain can do microsecond execution.
      I did not say it would eliminate prop trading, but blockchain will eliminate most profits in prop trading.
      Nov 3, 2019
    • Goldman Sachs fake engineer
      A distributed ledger is always going to be slower... You also don't want symmetric speed bumps to deter HFT.
      Nov 3, 2019
  • Google Fpvj53
    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.
    Nov 3, 2019 4
    • Jane Street Capital / Eng sinsivt
      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.
      Nov 3, 2019
    • Schonfeld / Eng
      9527

      Schonfeld Eng

      PRE
      Intel, morganstanley, citadel, etrade
      BIO
      coding monkey
      9527more
      @TopCon
      Nov 4, 2019
  • Google ladera
    OP
    Thanks for the insights 🙂
    Oct 31, 2019 1
    • Bank of America boa177
      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
      Nov 2, 2019

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