QuoteOriginally posted by: twofishQuoteOriginally posted by: NI'm afraid that you simply don't know what your talking about. Firms (like hedge funds) that hire PhDs in heavily quantitative subjects aren't hiring quants. It's very simple, quants do not and cannot design algorithmic trading algorithms.I think we are just defining "quant" differently. The problem I had with your definition is that it may be misleading to newbies who conclude that they have to get a MSFE to get anywhere in the industry, which just isn't the case.QuoteI get this feeling that you have zero work experience with either sellside or buyside firms.The industry is huge, and I'm just saying what I'm seeing. Your original assertion was that QuoteOnce you get your PhD, you'll need to get your MS in financial engineering before anyone seriously looks at you - like it or not, that's the way it is.and I have enough experience to know that this just isn't true (if anyone is interested in my situation, PM me). None of the people I've interviewed with has ever had a MSFE, and not having a MSFE has not been any sort of barrier for me. I've done a huge amount of reading in financial mathematics, and it may be that I've learned the functional equivalent of the MSFE over the last several years, and that is useful in interviews, but no one cares about the degree.You might reply that the jobs that I've been in the running for aren't "real quant jobs." Maybe. I don't really care. As long as it pays well and is interesting, I don't care about the job title, and neither, I suspect, do most of the people that ask questions in this group.The danger for a new Ph.D. to get another degree before trying to interview is that the job market is extremely cyclical. Getting a MSFE runs the risk that when you get it, you'll end up coming out on the wrong time in the business cycle.Job market is cyclical alright, but from say 2004 nothing much has changed or so it appears to me. Quants have been around since 1990s, how will 2 years change the equation so much??