Quant

I have an MSc in Math with a financial math thesis and I'm starting a quant internship in a couple weeks. My tuition was free because I go to a second tier school in Canada where they pay your tuition if you TA undergrad courses. Don't fall for the trap of going into one of the elite programs that cost a fortune.
They only teach you the basics in those expensive programs anyway; the company I interviewed for said they usually don't even consider anyone who isn't a PhD in math/physics/engineering (I got lucky).

>>1682375

I have a BSc in math and want to get into Wall Street. I don't want a PhD though, 5 fucking years is a lifetime.

>>1682388
Unfortunately that's what it takes to get a top job. Maybe you should consider data science instead.

>>1682375
Iv been offered a full scholarship to do a math PhD in financial math. Do you recob itd lead to a good job? Uni is only ranked about 60 worldwide tho

>>1682413
Yeah that sounds like a good setup. What are your research interests?

An intern who worked under me at a previous company is now a quant at some hedge fund. He apparently makes 250k/year

He was also from east asia so naturally he is brilliant at math

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Dying business. Everybody have been shutting down since 2008. Most banks have shut down their floors. Hedgefunds are in serious trouble too. Trade for yourself, you'll make more with no boss

>>1682417
Stochastic processes and probability theory in general

>>1682450
My thesis was using Semi-Markov processes for algorithmic trading. Stay away from the risk-neutral approach, that shit rightfully died with the financial crisis. Market microstructure, credit risk and model risk are big right now. Basically anything that captures the systemic problems that have been ignored by the field until the past few years

>>1682452
So do they not care too much if you aren't from a god tier school? Anything I can do dyring my PhD to improve employability?

>>1682502
A lot of it matters who your supervisor is. Bad schools may have good specialized research groups, and it's even better if they fill a niche that matches the local economy. In my example, my department does research in an area of math finance that is in high demand in my province and isn't really done in many other places. I guess my advice would be to get an internship and make friends with other students in the field by attending seminars and summer courses.

>>1682394

The placement statistics of top programs like Berkley's seem ok though.

http://mfe.berkeley.edu/careers/placement.html

I do wonder what is the ceiling for someone with just a MSc.

>>1682921
>Median First Year Base Salary: $100,000
haha, you can tell they fudged the numbers by that figure, more realistically the median is probably $96k or so

They have undergrad EECS who make more annual than that per year

>>1682921
I admit that there likely is a ceiling for someone like myself with just an MSc. If I want to progress I will likely go back for a PhD after I have 5 years experience.

>>1682356
>Why there are so many chinks in these programs?

Because they have the money to afford a 50k program

>>1682921
>The placement statistics of top programs like Berkley's seem ok though.

You do realize that Bereley held the #1 rated Computer Science program for a long, long time?

It's fallen off a little since the school is flooded with Affirmative Action quota niggers dragging it down, but Berkeley is still one of THE best CS programs in the nation & world.

Most of these jobs are in NYC or Conn.

>>1683171

>implying MIT and Stanford weren't # 1
Berkeley has never been #1

>>1683171
>You do realize that Bereley held the #1 rated Computer Science program for a long, long time?

This is financial engineering, not CS. And it is offered by a Business school anyway.

>>1682921
Berkeley went to present their MFE at my school, I think the main pro of it is they guarantee you a well-paying job in the US when you graduate.
>>1683091
Not even sure about that man, I know people from my class who went there and are drowning in money now.

>>1683565

I noticed that most of their graduates stay in California (39%). I would have thought that NY would be frist. Do you know what kind of finance jobs there are in Cali ?

>>1683730
Probably hedge funds or simply investment banks in SF. They argued that you could also work at Facebook after graduating if you decided you didn't like banks during the program. I'm guessing it's a matter of "I spent a year in Cali, I wanna stay here", I know people from that master who work in NYC now.

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>>1683747
I am applying to Columbia and CMU. Berkeley wasn't on my radar because they start in march and also because I figured the money was on NYC.

I want to work on the US so I would need a visa sponsor and these programs sort of imply that you can get one.

I have decent grades, recommendations and GRE. However I'm worried because many of these school list their students in their homepage and I have seen like two Hispanic guys. (I'm from south America). Most of them are chineese. I don't know if the schools prefer them, or simply more of them apply

Any advice for the applications/personal statement? Thanks senpai.

>>1683764
Ha, funny I just got out of Columbia myself.
This is gonna need a long answer. Ping me at v l 2 3 5 1 @ columbia dot edu. Tell me when it's done and I'll delete this ;).

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>>1683797
Thanks man I really appreciate it.

gaius. marius 23 at protonmail dot com