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AbhiJ
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Being a quant - is it a right choice for a quantitative modeler?

January 28th, 2011, 10:58 am

QuoteOriginally posted by: traderjoe1976Get a job. Make some good money. Later on you can figure out what you want to do with your life.This is an excellent piece of advice and a dose of reality.
 
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Alekk
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Being a quant - is it a right choice for a quantitative modeler?

January 28th, 2011, 2:22 pm

I think that Nikkei is asking the question that many fresh PhD are asking themselves: is there another industry than finance, where PhD-level quantitative methods are in need, and where the money is not that bad (i.e. better than academia).
 
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Nikkei
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Being a quant - is it a right choice for a quantitative modeler?

January 28th, 2011, 3:34 pm

Thanks for replying, everyone!BTW, do you like finance at all? -----I find quant modeling in finance exciting per se. However, I must know I am adding value and not just selling snake oil. If, as I suspect, the potential contribution of quant methods is very limited, then I'd rather do something else. Get a job. Make some good money. Later on you can figure out what you want to do with your life.-------Sure, I often heard this sort of thing: "right now I am making money so that when I am rich, I can do whatever the hell I want".This is a dead end, imho. I am trying to figure out what to do with my life NOW, not "later", and (not) having money has nothing to do with it.
 
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EscapeArtist999
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Being a quant - is it a right choice for a quantitative modeler?

January 28th, 2011, 4:12 pm

QuoteOriginally posted by: NikkeiThanks for replying, everyone!BTW, do you like finance at all? -----I find quant modeling in finance exciting per se. However, I must know I am adding value and not just selling snake oil. If, as I suspect, the potential contribution of quant methods is very limited, then I'd rather do something else. Get a job. Make some good money. Later on you can figure out what you want to do with your life.-------Sure, I often heard this sort of thing: "right now I am making money so that when I am rich, I can do whatever the hell I want".This is a dead end, imho. I am trying to figure out what to do with my life NOW, not "later", and (not) having money has nothing to do with it.Nikkei is right. I is about finding your journey and starting out on it. Maybe one's journey is to be a middling programmer at a bank making 200k, maybe its not... But it's about being on the journey.
 
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eh
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Being a quant - is it a right choice for a quantitative modeler?

January 28th, 2011, 5:03 pm

Quote"right now I am making money so that when I am rich, I can do whatever the hell I want"I never like this kind of statement. It implies that you should waste your youth so that you can retire rich (and burnt out). Work enough to live comfortably and enjoy life.Nikkei, perhaps you should look at engineering jobs (aerospace, motorsport etc.) should be interesting, reasonably paid and quantitative.
 
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sunra
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Being a quant - is it a right choice for a quantitative modeler?

January 29th, 2011, 2:16 am

the idea that a stats phd cant find extremely interesting work, well, says a lot
 
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mrmister
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Being a quant - is it a right choice for a quantitative modeler?

January 29th, 2011, 3:05 am

QuoteOriginally posted by: sunrathe idea that a stats phd cant find extremely interesting work, well, says a lot'Interesting' is very subjective. Stats is used quite frequently in many places but you rarely go beyond simple tools found in graduate level statistics. For a stats PhD, all of this might be a small part of first year qualifying course-work and hence extremely unappealing.Now, take somebody who has a Master's in CS and throw him these kind of problems. He would probably find it challenging and interesting. I think the idea is to get out of your comfort zone and try doing things that are unfamiliar to you. If none of these things work out, take up a random job and spend your free-time doing whatever you like.
 
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Nikkei
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Being a quant - is it a right choice for a quantitative modeler?

January 29th, 2011, 3:58 am

take up a random job and spend your free-time doing whatever you like. +++++++++++I like quantitative modeling, and it's kind of hard to make a hobby out of it. It's not like drawing or fly fishing.
 
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mrmister
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Being a quant - is it a right choice for a quantitative modeler?

January 29th, 2011, 4:12 am

QuoteOriginally posted by: Nikkeitake up a random job and spend your free-time doing whatever you like. +++++++++++I like quantitative modeling, and it's kind of hard to make a hobby out of it. It's not like drawing or fly fishing.It is whatever you make out of it. Perhaps you can start doing it on the side, and later transition to working on your own by starting a company. While this is hard and takes incredible amount of motivation, there are undergraduate kids doing it and quite a few have been successful as you might already know. Nobody here is going to tell you one way or the other as to what you should be doing. The fun part is figuring it out yourself, and then executing it.
 
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DevonFangs
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Being a quant - is it a right choice for a quantitative modeler?

January 29th, 2011, 8:19 am

Yes everything right. Back to more practical questions, what's you job search been like this year? I mean, you really sound disappointed and that's strange, IMO. I've had several interviews and after many of them I was excited about the people I had met, the place and the job because everything seemed (and seems) so new and challenging to me. May I ask, did you fail or didn't you manage to get any interview?
 
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Nikkei
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Being a quant - is it a right choice for a quantitative modeler?

January 29th, 2011, 2:55 pm

My job search has been hindered by the absence of the green card, but that's irrelevant.The point is, I suspect that, even as a U.S. citizen in a booming job market, I wouldn't be able to find what I want in the quant field. As I said above, I am not at all sure that even the "most quantitative" firms, like D.E. Shaw, are what they seem to be. And even if they were, there aren't many of them.
 
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twofish
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Being a quant - is it a right choice for a quantitative modeler?

January 30th, 2011, 3:17 am

QuoteOriginally posted by: AlekkI think that Nikkei is asking the question that many fresh PhD are asking themselves: is there another industry than finance, where PhD-level quantitative methods are in need, and where the money is not that bad (i.e. better than academia).For astrophysics types, the big three are Finance, Oil and gas. Defense. I know people that make decent money designing hydrogen bombs.
 
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twofish
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Being a quant - is it a right choice for a quantitative modeler?

January 30th, 2011, 3:22 am

QuoteOriginally posted by: Nikkei I wouldn't be able to find what I want in the quant field.A lot depends on what you want. I found what I wanted. Trouble is, what I want is likely to be quite different from what you want. Get the job. Get your foot in the door, and then move around.QuoteAs I said above, I am not at all sure that even the "most quantitative" firms, like D.E. Shaw, are what they seem to be. And even if they were, there aren't many of them.The solution is to get a job, work somewhere. If you like it, keep doing it. If you don't, move.Also one thing that I like about finance is that different firms and even different parts of firms have radically different cultures so that you can usually find somewhere that you can fit in. There's a group of people that sit not very far from where I sit, and their social dynamics is very, very different from the group that I'm in.
Last edited by twofish on January 29th, 2011, 11:00 pm, edited 1 time in total.
 
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twofish
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Being a quant - is it a right choice for a quantitative modeler?

January 30th, 2011, 3:27 am

QuoteOriginally posted by: NikkeiI find quant modeling in finance exciting per se. However, I must know I am adding value and not just selling snake oil. If, as I suspect, the potential contribution of quant methods is very limited, then I'd rather do something else.Part of a job of a quant that has ethics is to protect the world from people who are selling snake oil. One reason I like my job is that I can see the really, really, really bad consequences if I do it badly.
 
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DevonFangs
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Being a quant - is it a right choice for a quantitative modeler?

January 30th, 2011, 9:08 am

@twofish, please hire me
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