#MathPhD #QuantRole #HedgeFund #FinanceCareers #MAFNProgram #FinancialEngineering #ColumbiaUniversity
Are you a Math PhD looking to break into a quant role at a hedge fund? ππ You’re not alone – many individuals with strong mathematical backgrounds are seeking career opportunities in the finance industry. If you’re in the same boat, you’re likely looking for advice on how to navigate this transition. In this article, we’ll address the specific concerns and questions of a Math PhD looking to break into a quant role at a hedge fund, and we’ll provide valuable insights to help you on your path to success.
**Background and Challenges**
As a Math PhD with expertise in numerical methods and fluid dynamics, you possess a strong foundation in mathematical and computational skills. However, breaking into a quant role without traditional finance experience can be daunting. Additionally, as a PhD, you may not be eligible for internships, which can often serve as a stepping stone into the finance industry. These obstacles can make the transition seem overwhelming, especially as you approach your 39th year.
**Considering a Masters in Math Finance at Columbia University**
You mentioned that you are considering pursuing a Masters in Math Finance (MAFN) at Columbia University. This decision could potentially fill in the finance knowledge gaps you’ve identified. Here are some key points to consider:
– The MAFN program at Columbia University offers evening classes, allowing you to pursue the degree part-time while continuing your current role.
– Reviews from previous MAFN students have cited “too much math” and high costs as potential drawbacks. However, given your background and the tuition-free benefit you receive as a current employee of Columbia University, these concerns may not apply to your situation.
**Seeking Insight from Practicing Quants**
To gain a better understanding of the potential benefits of the MAFN program, it would be highly valuable to connect with practicing quants who have firsthand experience in the industry. They can provide insights on the relevance of the program to your career goals, particularly in pursuing roles as a Quant Researcher at a hedge fund in NYC or a related front-office position.
**Comparing MAFN with IEOR MS in Financial Engineering**
In addition to the MAFN program, you’ve also expressed interest in comparing its usefulness with the IEOR MS in Financial Engineering program offered at Columbia University. Both programs have their unique curriculum and strengths, and making an informed comparison will be essential in determining the best fit for your career aspirations.
**Next Steps and Advice**
As you navigate your path towards a quant role at a hedge fund, here are some actionable steps and advice to consider:
– Network with professionals in the finance industry, particularly those with quantitative roles. Their insights and guidance can be invaluable as you make decisions about furthering your education and pursuing career opportunities.
– Research the specific courses and topics covered in the MAFN and IEOR MS in Financial Engineering programs. Consider how each program aligns with your current skills and knowledge gaps, as well as your long-term career goals.
**Conclusion**
Breaking into the finance industry as a Math PhD can be challenging, but it’s certainly achievable with the right strategies and resources. By considering the MAFN program at Columbia University and seeking advice from industry professionals, you can equip yourself with the necessary tools and knowledge to pursue a quant role at a hedge fund or related front-office position. Keep in mind that your programming skills and prior experience as a developer can also be valuable assets in your transition. Best of luck on your journey towards a successful career in quantitative finance!
βGetting into a quant role without the finance background appears challengingβ This is nonsense, donβt worry about it, most of the best quants have no finance background and instead have a background similar to yours.
Youβre probably best applying to the top tier quant hedge funds. They donβt care if you have no finance background as long as youβre very smart and they think they will be able to teach you what you need to know on the job.
You have one of the most desirable degrees in our space and you donβt need more school. If you arenβt getting interviews then itβs something with your resume and how youβre highlighting your strengths.
Cold call (email) HR at Jane Street, Millennium, Citadel, etc. theyβll find a role for you.
You donβt need a finance degree but quant experience (either internship or full time is very valuable that may be the problem).
An option is to start at smaller shops and trade firms then when youβre getting experience move to bigger ones. Anyways contact and apply with Jane Street, Two Sigma, Citadel, among others.
Create a linkedin profile. And find people similar to you but already in the industry. Get some advice from them.
Edit: add more info. If you are good at pde and wanted to explore further, consider sell side shops, because derivatives valuation needs at lease some perspective in computational finance which basically is PDE. If you are tired of PDE and wanted to do something more like machine learning data oriented forecasting type of quant, then consider buy side hedge funds. I would value your PDE knowledge more than anything else. But ya hedge funds pay more.
Edit again: if you want some school training, consider CQF, itβs shorter and cheaper comparing to MFE.