hey guys, I have a question for u. I am a MFE student from a top US university. I have been searching for positions as a quant for almost 1 year... unluckily, I found most of the company (90%) requires either a phd or 2 yr + experience. Did you guys think of shifting to trading positions? I think MFE students have more than enough knowledge to be an option trader, just don't know how the recruiting process like. Can anyone give me some advice on how competitive it is to be an option trader?

ah...veryStep 1. working out what sort of options trader you want to be Step 2. getting your foot in the door with someone who will give you the opportunityStep 3. (the most important) proving to yourself but more importantly your emploer that you have the skills/balls/whatevers to trade and to trade successfullyRemember options is a zero sum game so to do well you gotta be better than most of the other guys in the market place

QuoteRemember options is a zero sum game so to do well you gotta be better than most of the other guys in the market placeoptions are not a zero sum game - not all market participants are hedgers.

Quote. unluckily, I found most of the company (90%) requires either a PhD or 2 yr + experience.In these conditions even a PhD alone is not going to be good enough, you need to couple that with 'relevant' experience. Since there are quite a few quants looking for roles out there with experience and given the less desirable market conditions currently I think it will be very tough for a junior. That said if you have some unique experience in an area which you can sell at the interview then that will greatly enhance your application. Also you have to remember there ain't many quant roles going currently, but it should gradually pick up next year. In the meantime you have to do something useful with your time, perhaps do a bit of learning in C++, VBA, or even apply for a few contracting roles that use C++ or VBA. Failing that do more reading on the latest developments in option pricing etc.I do wonder how employers perceive large gaps on employments since graduating from a PhD or MFE, how long a gap can you have on your CV before it starts looking bad? My guess is 2 years max.Stats Guy

QuoteOriginally posted by: quantquantquantCan anyone give me some advice on how competitive it is to be an option trader?Its extremely competitive, probably one of the most competitive jobs out there and the turnover rate is high.