<t>I am not sure about the MIT choice. PhD schoolmate of mine from the top-notch university in UK also got into Lehmann as FI quant research analyst (not associate!). His job now is far away from quant developer. PhD in MIT may easily take over 4 years. The name of the school may help but there is n...

Twofish, Don't want to argue any more. Just ask yourself, if you personally do not think it is a win situation for you as an experienced PhD, why are you still wanting to squeeze into this business. Grapes are usually sour if you cannot have it yourself.

<t>QuoteOriginally posted by: twofishI pay about $900/month for my mortgage for a three bedroom house with a yard, and it's a mortgage which means that half of this goes into equity, which I can borrow against. You tell me where I can get a deal like that in NYC. Also Texas has no state income tax (...

<t>QuoteOriginally posted by: twofishIt works out that the potential bonus gets more or less balanced out with the cost of living in NYC as compared to Texas or North Carolina and the hours. The figures for an entries level quant are better than non-QF programming, but they are in the same ballpark....

<t>QuoteOriginally posted by: twofishI wasn't thinking about academia at all. However, there are careers in computer programming outside of QF (petroleum, logistics, and medical imaging just to name a few), and the starting salaries for those appear on the same ballpark as the starting salaries for ...

<t>QuoteOriginally posted by: twofishIn making career decisions, the timescale should be more like 20-30 years rather than 3-5. The decision being made is should one go into QF as opposed to something else like telecommunications or J2EE web maintainence. In order to make these decisions rationally,...

<t>QuoteOriginally posted by: ra008how much does an MD in HF/IB make? How long does it take to get there, assuming that someone makes an entry at late twenties as a quant? Other than showing good quantitative skills, what other skills does someone at that level expected to know or show? Is there an ...

<t>QuoteOriginally posted by: twofishI apologize for my bluntness on this issue, but like most physics grad students of the early 1990's, I was fed a bunch of bull regarding the academic job situation. Hearing someone say "well, you should put up with a low salary now, so that you get training for t...

<t>QuoteOriginally posted by: twofishQuoteOriginally posted by: achow1) Not all quant jobs are looking for entry level. Many firms are hiring experienced quant.The trouble is that it is very rather difficult for someone from the outside to get hired at these levels.Quote2) Unless you are earning muc...

<t>QuoteOriginally posted by: ckarakusQuoteOriginally posted by: playerQuotea couple have explicitly said not finance PhDs. Whats there reasoning behind this??i tell you the reasoning: no one pays you top dollar just because you spent your damn 5 years try to understand how some sort of weird phenom...

<t>QuoteOriginally posted by: pwong788QuoteOriginally posted by: achowQuoteOriginally posted by: twofishQuoteOriginally posted by: pwong788Hi , this is my first post. I'm 43, have a background in real estate investment and operations in California. I have always wanted to change careers and perhaps ...

<t>QuoteOriginally posted by: twofishQuoteOriginally posted by: pwong788Hi , this is my first post. I'm 43, have a background in real estate investment and operations in California. I have always wanted to change careers and perhaps get involved in something more technically challenging.Just some ad...

<t>My two cents is: Finance PhD does not hurt if you state that your research are specializing in derivatives modelling.Similarly, not all PhD in Math and Physics are equally favourable. Will you hire a PhD who has done works on computational physics and is not familiar with stochastic analysis or a...

<t>Take equal weighed basket for the sake of simplicity, Var(A+B)=Var(A)+Var(B)+2Cov(A,B).By shorting Vega of the basket, one has effectively shorted correlation between 2 stocks as well as individual volatility. If you want a pure correlation play, you have to buy back individual volatility by long...

<t>The fatal mistake of Twofish is that it requires the information of delta in advance to accurately replicate the final payoff of the call option in his portfolio. Without accurate delta in advance, one cannot be sure that the final payoff can be replicated and hence equating the two portfolios. I...