SERVING THE QUANTITATIVE FINANCE COMMUNITY

 
User avatar
Amitesh18
Topic Author
Posts: 4
Joined: May 6th, 2011, 8:00 am

!!! Important Career Guidance Needed !!!

May 9th, 2011, 9:24 am

Hi All, the Wizards and masters of the Quant & Investment banking domains !!I'm currently thinking of a BIG change in my career. Before I go ahead with my questions, here is a short Intro about myself:- Aged in late thirties.- Electrical Engineering background- Studied Engineering Maths in the Uni and never used it since then, but familier with the calculs, etc.- 15 years of work experience in Software development (Java, C++, Middleware MQ, ESB etc.)- Currently working as a consultant (contractor) in the UK, as SOA ArchitectNow I've been thinking of getting into the Investment banking for some time, but as you all know it is a very closed and highly skilled sector.When I say getting into the Investment banking I mean to get a software-development contract in Investment banking. To get a break into this sector, I started searching for some training, courses etc. and came accross,CQF as well as MSc. in Quantitaive Finance from CASS university London.The questions now I have for all of you experienced lots are:1) Is it worth trying to get into it?2) If it is then CQF or Msc. in Quantitaive Finace (2 year part time) ?3) Thinking of possibly, moving to Singapore, does CQF help in securing a decent job there?4) Are there any other options any of you would like to suggest?Just to help you in suggesting me, I'm motivated by challanges (like solving problems, software, maths etc.) and Money.All of your helpful suggestions are highly respected, and will help me in shaping my future.RegardsAmitesh
 
User avatar
rmax
Posts: 6080
Joined: December 8th, 2005, 9:31 am

!!! Important Career Guidance Needed !!!

May 9th, 2011, 11:52 am

Money is rarely a good reason alone to do anything... Entry will be dependent on where you are based.CQF is specific to a specific part of the industry.
 
User avatar
Amitesh18
Topic Author
Posts: 4
Joined: May 6th, 2011, 8:00 am

!!! Important Career Guidance Needed !!!

May 9th, 2011, 1:52 pm

Thanks for your time RMax,Yes I do agree with you, and that is why I mentioned that my real motivation is solving problems and meeting challanges, But the reality is also about expectation of a good payoff for the hard work you put in.I'm based in the UK does that help in suggesting any option?RegardsAmitesh
 
User avatar
capafan2
Posts: 924
Joined: June 20th, 2009, 11:26 am

!!! Important Career Guidance Needed !!!

May 9th, 2011, 2:54 pm

Not worth the effort. Do not try it. If Math is what you like then there are ample careers in Data Minining. It is realistic to get into those. Your programming background will be highly valued and you will enjoy it. I do. But trying to get into Quant Finance is next to impossible for someone like you (age and qual I mean). Even if you do MFE you will be no more than a programmer. With CQF your wallet will just be lighter and you will be suckered by some Recruiter into a front office IT role. PM me if you like. I have gone through the grind and come out and very happy with my decision.
Last edited by capafan2 on May 8th, 2011, 10:00 pm, edited 1 time in total.
 
User avatar
Amitesh18
Topic Author
Posts: 4
Joined: May 6th, 2011, 8:00 am

!!! Important Career Guidance Needed !!!

May 10th, 2011, 11:46 am

Hi Capafan2,Thanks for your honest opinion. I value it.Anyone else who has any different opinion to capafan2?Thanks
 
User avatar
nyasha
Posts: 32
Joined: November 29th, 2005, 10:49 pm

!!! Important Career Guidance Needed !!!

May 11th, 2011, 6:54 pm

I think you can do anything if you're really committed and put your mind to it. If you're 100% committed and are realistic about it being a painful hard slog with a payoff that IS guaranteed but a time period that's not, then do it. I don't think you can fail to succeed with your background. One suggestion: think outside the box. There are a lot of skills you already have, that you can put to good use in reaching your goal.PS I don't mean going school, which I think is a waste of money for someone with your experience, as it will then put you in the same box as other candidates but at risk of age bias. There are books that will teach you what any course will. You just need to be focused enough to match the intensity. ----------------End distraction
 
User avatar
thomssi
Posts: 224
Joined: August 25th, 2005, 2:45 am

!!! Important Career Guidance Needed !!!

May 12th, 2011, 5:31 am

If you wish to know more on Singapore then let me know, worked here for > 10 years.As for career option and money. Hmm, I'd say no. If it is really a change in what you do then your history will count for little, you would enter as an AVP if you are lucky when with 15 years you would expect to be a director. The pay difference is rather large (and as for Singapore it will be subsistence living for several years, also bear in mind in Singapore there is lots of access to really cheap software developers who are very well qualified). At that age, I doubt you would ever make it up unfortunately but then again depends what you get now.
 
User avatar
DominicConnor
Posts: 11684
Joined: July 14th, 2002, 3:00 am

!!! Important Career Guidance Needed !!!

May 12th, 2011, 6:12 am

Rmax is completely right, unless you are desperate money is not a high quality motivation. We don't mean this in a moral sense, just that when you are working hard your overall happiness is rarely driven by a few bucks. An interesting thing that applies across nearly all human cultures is that if you ask someone "what are you ?", 9/10 times they will answer in terms of their job. Not their faith, not their race or nationality, not their sexual orientation or as a supporter of their favourite sports team.In the UK the most obvious option is as a Quant Developer, but you'd have to get your programming up to speed, sounds like you ain't done much for some time.By "programming" I mean writing and debugging code, not designing, not UML, not gathering business requirements etc, but coding.Also the term "architect" is associated most strongly with Java, and there are about the same number of Java Quant Developers as there are Polish Quant Developers, a database smaller than mine might actually imply that there are none of either.You have to learn C++, properly, as in exception safety, templates, algorithms, STL, Boost, threads.I have to declare an interest at this point since I teach part of the CQF, which is not exactly what you'd expect from a headhunter.As a contractor you can set training fees against tax, which brings the effective cost down quite a bit.A big factor in which course you take is what I call "optimal ignorance". If you know too little then the course will make no sense, and if you know too much it is a waste of time and money.You need to look at the material and try to work out if you could make sense of it, and since your maths were 15 years ago you need to look hard at what support they offer to patch over the holes in things you forgot and things you never learned. Very few people do an MSc or CQF without having some holes to be filled, you need to objectively work out where you are.If in parallel with this you want to move into a day job in IT in a bank then you have to understand a few things...1: Studying the courses you are looking at will improve "business knowledge", so even though you have not finished the course, you can sell yourself as a bit more informed that you were.2: Investment Banks use all of the technologies you have mastered, so if you focus on the ones in most demand then I do not believe it will be very hard to get a job in their IT department.
 
User avatar
Amitesh18
Topic Author
Posts: 4
Joined: May 6th, 2011, 8:00 am

!!! Important Career Guidance Needed !!!

May 12th, 2011, 11:27 am

A Very Big Thanks to All of you,who've spend your valuable time to think about my situation and provided me with your valuable suggestion, based on your experience.I've kind of, got the message I've been looking for.Thanks again for all your help and efforts
ABOUT WILMOTT

PW by JB

Wilmott.com has been "Serving the Quantitative Finance Community" since 2001. Continued...


Twitter LinkedIn Instagram

JOBS BOARD

JOBS BOARD

Looking for a quant job, risk, algo trading,...? Browse jobs here...


GZIP: On