QuoteOriginally posted by: quantstudent19IMHO, you dont need to go back to schoolA phd in physics is certainly enough(at some point, too many degrees imply you couldn't get a job - not a very good sign)I'd go for Plan A, few people actually do it, that's why it worksI think you're being a little naiive and academic, quantstudent. That may have worked in Black-Scholes day or even in Derman's but in today's competitive market one needs more than a PhD in physics to work in a bank. Just take a look at the Jobs board prerequisites. This is usually one of at least four requirements. How many people do you know where your idea actually worked? I hazard none. I could be wrong though.

QuoteOriginally posted by: quantstudent19IMHO, you dont need to go back to schoolA phd in physics is certainly enough(at some point, too many degrees imply you couldn't get a job - not a very good sign)I'd go for Plan A, few people actually do it, that's why it worksI would love to believe it could work, but I know being honest with myself that I don't have enough real-world finance knowledge. I wouldn't even feel comfortable taking a job getting paid 65-85K and not even be able to hang with anyone in the office. I would fear that they would only have a negative opinion of me since I am slowing everyone down and getting paid a lot do so. On the other hand, I would think an employer would really be losing little in investing in a phd intern to see what they've got. It only has upside for them (except for the time taken to pound the concepts through their warped little skulls), and in return I get some experience to throw at a future employer. Does anyone know what percentage of interns are offered positions at the end of their internships (given that they are free of any other obligations like finishing a degree, etc.)?

QuoteOriginally posted by: profnimbusI would love to believe it could work, but I know being honest with myself that I don't have enough real-world finance knowledge. I wouldn't even feel comfortable taking a job getting paid 65-85K and not even be able to hang with anyone in the office. I would fear that they would only have a negative opinion of me since I am slowing everyone down and getting paid a lot do so. thats certainly not the right attitude to haveif they allow you to even enter the bank, they think you're good enough.most people dont know anything when they start

you´re already assuming that some IB would pay you 65-85K for a Phd in Physics .... as TraderJoe wrote, that´s no longer true, unfortunately!

You make it all sound so positive definite quantstudent . Sometimes (99%) life's not like that? People have to find their own path.

The bottom line is if I want it bad enough I can make it happen, either through persistence or more academic training. At this point I fail to agree that further academic work would do much other than suck money out of my pocket for knowledge I could get on my own and through either internships and/or less paying positions. The only thing I agree is that I am much likelier to be considered than now. If I am wrong, I will learn it one way or the other. But anyone who has worked for anything knows, if you want something, it's your responsibility to make it happen, and those that think that way do so. My purpose here was to expedite this process and learn from those whom are in the field and are more knowledgeable. I am happy that my post has created a wide variety of opinions ... the more the merrier. m

I would say get yourself up to the level of Hull, and apply for a job/internship from there.

we certainly employ physics phds who haven't done finance before. my impression at the moment is that this is more usual in london than in NY.

Hi, dear friend,I am a newly graduated PhD in math and am looking for a quant job also. Probably we are facing the same dilemma. My first motivation started with an interest in stochastic differential equations (SDE), a course I actually lectured for one semester in front of two professors chairing my reading course. Then I read Shreve's book on financial math (I really enjoy the ideas inside). I've now started reading Hull's book. With math trainings, numerical anaysis,PDEs, programmings with C++ and Matlab (use Matlab more now), I think I am no inferior to an MS in FE, though I admit I need some extra time to get to know more finance by reading (which I don't think is a problem, given time).However, the question is how and where to land at a first position. I don't have much to offer as for suggestions. I don't know really. But everyday I still read those books as kinda hobby. Got a phone call last week from a head hunter who introduced herself as a mathematician also. She asked a lot about my SDEs and C++, recommended me a couple of financial books for more serious reading, and told me to call her back a month later. I am working on those books now, without knowing what this might end up with. Sometime I also thought about going back for a MS degree in FE as a spring board. But as I glanced over the courses, I really do not want to learn them again since I am already so familar. Also the tuition for FE is pretty high. Where is the way out? Appreciate any suggestions.

I don't think one needs a finance degrees. If one has a Ph.D in a quantitative science, and can demonstrate the use of math as a tool for setting up and solving problems, then only an MBA would add value (this would change you from one type of beast -- quant --- to another). At this moment, no master's or Ph.D program teaches you more than a fraction of what you need to be a working quant; most of it is learned on the job.If one has a good math background, what one must show is desire and ability. Reading finance texts, initiating research projects (even ill-advised ones) shows both.Programming is a valuable skill to have, but programming alone without an understanding of mathematics or finance is, while not a dead end, a difficult and competitive path. The easiest paths are for those who combine finance and math and programming skills.The tricks are to (a) get your first job, (b) once on the job, learn as much as you can about all the related fields ... marketing, trading, back-office, legal, accounting, ...To get your first job, contact several head hunters, shamelessly use any contacts you have to meet people on the street, and project the right attitude: today I know what I know, tomorrow I will know a lot more, and if given the job I will learn everything I need to do a great job in a hell of a hurry.