Hi all:I am seeking some advice. I would like get into a banking career, but given background (EE who can program) and my age (mid 30s), a quant path at a boutique firm (such has a Hedge Fund) seems to be the most logically way. I live in the San Francisco Bay area and currently work for high tech firms in the Silicon Valley (in San Jose, California). What is the best way? My background is in CAD tool development for semiconductor industry, so my primary skill set is in modeling physical / mathmatical problem into software. Education wise, I have a BS and MS in EE (UMich-AnnArbor), but focused my research in CAD tools and semiconductor design/manufacturing. I thought my skills might translate well into quantitative finance.I am at a point in my career in my industry where it no longer makes sense to stay technical. If I want to advance I'd have to go management track and focus on those "soft skills" and deal with politics. I am making good money by EE standards. But I am finding my industry quite boring and not sure if I want to do this forever. At the same time, I'v developed quite a bit of interest in the public equity market and interworkings of trading and analysis. I am also quite interested in investment management (working for a fund perhaps?). Anyone with similar background who have made the transition? Am I crazy for wanting to get into quant career at this point in my life? Can anyone comment if getting a MFE degree would help? Or if I just focus on getting a CFA certification? Would that make sense?With my skill set and background, what type of banking career path should I focus on? Quant? Equity Analyst? VC??? Thanks to all for your help,

Hello, You have to start reading some books, for example: John C. Hull, Rennie and Baxter, or some others. The CAD experience will not be very useful in the Financial Industry (I think), you have to program financial models using C++, C# and eventually in Java. I recommend you to study techniques to valuate option price of underlying and then go to interest rate derivatives. Then to have a grasp on credit risk will help. An MFE program will really help you, because it takes time to gather all the knowledge. I didn't do an MFE program, but it took 30 months of continuos preparation. Additionally is important to have the work permit ready, Financial companies really want to avoid dealing with visas issues. Good luck.

For quant Signal processing or communication wud have been better...IMO opinion, u can do an MBA and enter banking..(if u r not 2 keen on Quant) and quit the EE profession

chyang,I have asked similiar questions about transitioning from an EE to FE. Although I am currently completing a MS in Applied Math, before I beganmy masters I asked the forum if they thought I should go back for:1) MBA-Finance @ U or Rochester2) MS Applied Math3) MS EE - Signal Processing and CommunicationsEveryone suggested I just to a CQF/CFA and try to go into the industry, skippingthe MS.The industry didn't want me so I'm doing a master.Good luck

Don't you think I am too old at Mid 30's to do an MBA and enter banking? I think most Ibank wants guys at late 20's or early 30's. QuoteOriginally posted by: pgeekFor quant Signal processing or communication wud have been better...IMO opinion, u can do an MBA and enter banking..(if u r not 2 keen on Quant) and quit the EE profession

Thanks all for your helpful suggestion.What I am reading so far is that:1) MFE, then go for a job.2) CFA certification directly then go for a job. Option 2 sounds like a more economic idea (though require much more individual discipline / persistance). Thanks for the suggestion, I'll start to read John Hull's Options and Dervatives book. What about the age factor? Have you all seen someone late 30s transition into a quant career? Or is it that less of a factor for Quants? (I know for IBanking position such as M&A typically wants much younger guys.).PS: I did study digital commications, signal processing, and stochastic math in my EE study. Maybe there is yet hope!Thanks,

I have a similar background to yourself (EE degree, technical prgramming background) and work as a quant and trading systems analyst (basically a quant developer) for a Dublin based hedge fund company. I managed to make the transition by getting a programming job in a corporate treasury which helped me develop the required practical knowledge, and maybe more importantly the CV credentials, to progress to a role in a different company with more of a quant focus. Books I found (and still find ) useful include the Hull book and an econometrics book by Chris Brooks. Beware though, the language of choice for quants is C++ which is a peculiar choice as some quants don't have a great software development experience which can lead to some pretty nasty code. VBA is also widely used which can be occassionally infuriating for those used to using more flexible tools. Engineering maths provides a more than adequate platform for quant maths.

I am in exactly the same boat as the OP. I went to another big 10 Engineering powerhouse (MSEE Illinois-Urbana) and have been working in the same industry as the OP (Electronic Design Automation). I also studied similar courses like the OP, and have taken a few more courses along the years at Stanford (non-degree option), including management oriented courses (investment sciences, decision analysis etc.). The way I see it post-MBA, consulting and IB are not an option due to lifestyle related issues; I am married with children and can not do 50% travel or work donkey hours.Quant work is a natural progression from what I have been doing. Like many experienced engineers, my biggest strengths are in problem solving, and structuring the solution to complex problems. I have written tons of algorithmically intensive code too mostly addressing NP Complete problems.It also seems that 90% of these jobs are in NYC. SFO seems to have significanlty less number of such jobs available than I thought there would be.My ultimate goal is to work in a role where I either manage money or closely working with the folks who do. Registering for a CFA seems to be a good place to start but earning the title requires a lot of experience. I need to get a break first!What is the path of least resistance to reach that goal? I can relocate to NYC if needed.

I see your point about donkey hours, but it must be said that quants in banks do pretty tough hours as well.

QuoteOriginally posted by: DCFCI see your point about donkey hours, but it must be said that quants in banks do pretty tough hours as well.Thanks for the insight Dominic. It is not just the hours, but the nature of the hours. In IB, I will be working with people almost 8-10 years younger than me with little responsibility and commitments outside work. Plus when a deal is in the works, you are expected to camp at work. I can work long hours as long as they are structured and I have some flexibility (say work from home on the weekends).Another aspect to consider is long term growth. In IB and Consulting, long term career growth is strongly correlated to your skills as a salesman. Quant stuff, and over the longer term, money management, involves comparatively less sales skills; you are judged by the quality of the work (hopefully)! For an engineer in the technical areas, and with little experience in customer facing, sales oriented roles, the quant role is a better fit.For a person looking to end up managing money (or working closely with a team which manages money), which kind of quant jobs are the most desirable? I am still learning about the differences in the nature of jobs, and the organizational structures in different financial organization, so this question might sound a bit naive.

Folks:I have accepted an offer in a prop trading group in a bulge-bracket firm.Thanks a lot for the advise and the words of wisdom.

BayAreaFanyou have a pm.