From reading a few books on the topic, taking my first Math-Fin course and slogging through it, browsing through these forums, I've gathered that a quant:1. Needs to be up to scratch in Calculus, especially Stochastic Calculus, Black Scholes, and needs to have a solid understanding of Hedging, Delta, and the other Greeks. 2. Needs to have a good enough idea about derivatives, and FX, and money markets.3. Needs to be proficient in C++ so he can tool around with the models, and devise or fine-tune existing ones.4. Will not be working with a trader, directly, but will be assigned to an IT department which does the backend maintenance, troubleshooting, and new development work, both of derivatives modelling, as well as the trading system.-----------I've decided that Quant work, can immensely assist a trader in his work, and aid profitability. But thats its basically a 'Hire a Brain job'. Finance companies hire you to essentially do accounting and modeling work, or development. Its immensely high paying, and rewarding, of course.I know that there seems to be such a thing as a Quant/Trader, or someone who has a strong Quant background, but who also trades. How does one become a Quant Trader on Wall Street/London. What skills do you need to develop? I have a programming background, and I've just taken up FinMath. I find the FinMath really interesting. I love to obsess about making money and love day trading, all day long. (Dont we all though, to varying degrees).Its a long road ahead, how do I get there? Please be so kind as so share a potential roadmap with me Should I do an MBA? How long will an Internship last? Will it help to take a CQF/PRMIA cert along the way? Whats the minimum that I need to get my foot in the door?Thanks,Prasenjt

(4) is wrong. Quant and IT are separate worlds.Quant vs trader is mostly a psychology issue, are you the type that can bear the pressure of handling a P&L? Note that the answer from the brain and from the gut might be different, to varying degrees.To be successful as a trader you need to know some of the maths, finance, coding, a bit less than a quant, mostly at the intuitive level, but to a much larger extent what matters if your psychology and yourself.The markets give you what you want, not what you say you want, but what you really want deep inside. If you seek excitement (day trading), you will get it, just ask Jerome Kerviel - he was desperate to be counted as a big boy. He is now.

On (4) To be more precise, Alex Kuznetsov's 'Complete Guide ..' seems to suggest that Quant positions, though different from a purely IT position of hardware/network maintenance, Windows work, is getting hived out of the Trading Desk and into another facet of a general 'IT setup'. Thats at least what I understood.Regarding Jerome Kerviel: Almost single handedly destroying the work of several thousand people over several generations in one of France's largest banks, and the pain and suffering he has caused to people and the legacy of that institution is just so colossal. Its like I and several thousand people were to put together thousands of bricks to build a grand bridge, and along comes one of our peers and he almost unlocks the keystone. Its a moral crime of immense dimensions more than anything else. He should feel sorry, very sorry.I understand that traders are basically sociopaths, but they are sociopaths who play by the rules. Errm 99.99 % of em.

QuoteOriginally posted by: prasenjitmedhiOn (4) To be more precise, Alex Kuznetsov's 'Complete Guide ..' seems to suggest that Quant positions, though different from a purely IT position of hardware/network maintenance, Windows work, is getting hived out of the Trading Desk and into another facet of a general 'IT setup'. Thats at least what I understood.Recently someone suggested to me that in the next few years quant jobs may be outsourced to countries such as India (plenty of very good science and IT graduates; the job doesn't require proximity to the customer). Any thoughts?

I've been promised a copy of Alex's book, but his publishers seem curiously reluctant to send me a copy.Odd, since our reading list is recognised as a useful factor in the sales of quant books.Since I don't have the book, and guess I never will, I'm going to guess at what he means.In some firms Quant development is indeed being moved into the IT bonus pool. The fact that this is costing the firms concerned good people who quit rather than join IT seems not only to be ignored but to be seen as "just coincidence".As a headhunter I suppose I should see this as good, since good people looking to move makes my life easier, and of course they leave holes behind.The reason it's not all good news for me is that IT departments accept a lower standard of candidate, and indeed headhunter. As for Kerviel I think you will find that his management deserve a good % of the blame, and the consensus is that at the very least others turned a blind eye or actively helped.