Hi all,I hold 2 degrees (CS, exact science) and a MSc in physics, I already work as a quant for 1,5 year (medium to High freq), built from scratch a model (and then strategies based on it) that outperforms S&P, built execution algos for it, deployed it live, written OO code in 2 commercial and one institutional platform, also developed my own backtest platform in C#. Incorporated elements of Machine Learning, about to publish a paper for our novel approach to trend determination we developed. I haven't coded option pricing. I do not apply in banks, only in HFs and jobsites.I applied for several job openings (junior quants mostly), didn't get responses. 2 HeadHunters (UK and US based) suggested that I should better do an MFE in a top-5 university in order to increase my chances. Do you think that this is an appropriate course of action? This means relocating for a year, leaving my current job and hoping for the best, at the age of 34-->35. On the contrary an MFE is always an MFE and I will start looking for jobs from day 1. University of Chicago will be my first choice. So, play my last card as an MFE graduate or it doesn't worth the risk of been unemployed for a year? How will the job market be in 1.5 year? Anyone who has done it in the past? I'd appreciate your insights.PS: How about CQF instead of an MFE?

MFE is a good idea.If you have a quant PhD then CQF makes sense to learn a bit of the Finance stuff. University of Chicago is not a good choice for MFE job placement. Focus on schools like Princeton, Berkeley, Columbia, NYU. I think Baruch is also good for job placement.

Sorry what is wrong with your current quant job that you think will be better at a new one?

QuoteOriginally posted by: dfeynmanHi all,I hold 2 degrees (CS, exact science) and a MSc in physics, I already work as a quant for 1,5 year (medium to High freq), built from scratch a model (and then strategies based on it) that outperforms S&P, built execution algos for it, deployed it live, written OO code in 2 commercial and one institutional platform, also developed my own backtest platform in C#. Incorporated elements of Machine Learning, about to publish a paper for our novel approach to trend determination we developed. I haven't coded option pricing. I do not apply in banks, only in HFs and jobsites.I applied for several job openings (junior quants mostly), didn't get responses. 2 HeadHunters (UK and US based) suggested that I should better do an MFE in a top-5 university in order to increase my chances. Do you think that this is an appropriate course of action? This means relocating for a year, leaving my current job and hoping for the best, at the age of 34-->35. On the contrary an MFE is always an MFE and I will start looking for jobs from day 1. University of Chicago will be my first choice. So, play my last card as an MFE graduate or it doesn't worth the risk of been unemployed for a year? How will the job market be in 1.5 year? Anyone who has done it in the past? I'd appreciate your insights.PS: How about CQF instead of an MFE?Honestly, that sounds like piss poor advice from bad headhunters! You already have a job most 'junior quants' would die for. Is the firm closing down, you getting the boot, not being paid? What is the problem with the job? Spend a little more time in your current job and you can easily switch to another similar HF. What are these better job openings you are applying for? CQF's, MFE's etc are not really geared to help you maximize in the kind of job you are currently doing. If you are looking for "option pricing" jobs, yeah I guess go do a MFE or whatever. But seriously, in this day and age, why?

Hiring managers like seeing experience, not multiple masters degrees.CQF and MFE will both teach you option pricing theory and then you will go become a mid office risk quant. or a treasury quant. or an ALM quant. or a stress test quant. or some other mumbo jumbo quant.Everyone is a quant nowadays.Stay out of the quant ghetto. Stay where you are, do some trading and start your own fund in a few years.

Hmm I see. Thank you all. The reason #1 is poor payment and reason #2 is the fact that I slowly moved from quant researcher to quant developer and now programmer; covering aspects that should be covered by a new hire which never happened. I already found a job related to software engineering, it pays 2.5x more, and I intend to keep the fund job as parttime. Decisions, decisions..Thank you again for your insights.

Why haven't you applied to banks ?

Sir, I haven't applied in banks so far because I am under the impression that they need risk analysis, option pricing and some other requirements that I have to study and\or have professional experience before applying. Also I live in a small EU country hence I should apply only abroad; positions are taken here. Some HHs mentioned that this is a major disadvantage, the fact that I am not near financial centers as well as the absense of networking.I have sent you my CV a few weeks ago, I understand that you should be pretty busy assessing candidates.I had a talk with a UK-based HH on Friday, she told me that she cannot place me in a Junior quant role since I work for 16 months, but also since my track record is 4 months long only, because I deployed my strategy in March, I am not 'experienced' too. Therefore I am not sure how to sell myself: quant developer/researcher with 16 months experience or as someone who should wait to see how the strategy performs and be solely dependent on it. For the record, my realized PnL is good enough as of now but I have never used it in my Cover Letters since it might change.