September 22nd, 2005, 12:51 pm
agree with energydude's qualifications of my statement regarding hours.ab1, the tasks of a quant are VERY job-specific. joshi's intro divides the quant roles pretty well, although i've never been exposed to the pure research quant roles. a quant developer will work much longer hours and is basically a professional programmer who understands how to discretize an SDE. i'm somewhere between desk quant and research quant, and for me, the less enjoyable part is the beginning of a project which requires ingesting legacy code rapidly so that you can begin to modify said code. however, this is balanced by the excitement of being exposed to a new idea and reading widely in the literature surrounding the idea. other than that, there's very little i find unstimulating. the job requires such a wide range of skills that i feel constantly challenged, to be honest. the only drawback (for some) is that you can't spend too much time doing pie-in-the-sky dreaming about what models to implement. so i can't say, "gee, i think that a random field model for interest rate dynamics is theoretically intriguing. i'll spend my next six months trying to make it work". this actually works well for me, since it keeps me focused, but coming from academia, it might seem restrictive.