Serving the Quantitative Finance Community

 
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bobmarley
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Joined: February 14th, 2004, 11:38 pm

Career Change @ 40

February 21st, 2004, 1:00 am

Assuming the following:1. properly numerate background ( Ph.D., all the appropriate math)2. Programming skills in C++ and Java, plus deep knowledge in cluster, grid and distributed computing3. lots of management and project management experience in technology development4. basic knowledge of mathematical finance concepts and methods (thru the classic texts and papers), but no professional finance experience. 5. Some, but not extensive contacts in finance world (hedge funds).How likely is it for someone to successfully make a career change into quantitative finance at 40+ in New York? Does it even make sense? In case it makes a difference in anyones opinions, I have no real preference as to placement (front office, research, etc.) I'm still exploring that aspect of things.
 
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Alphabet
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Joined: April 1st, 2003, 11:34 am

Career Change @ 40

February 21st, 2004, 1:39 am

It makes perfect sense. As long as you can get a decent grasp of QF and Excel, VBA and so on, and you have the stamina to do a job search in the face of prejudice about your age and background, then you will be fine. And there won't even be too much prejudice, though I can't speak for NY. You just need a start, and if you hone your resume and skills, that will come within a month or two. Leverage your experience, and make it plain that you can be generically useful & hard working. Just my 2c.
 
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spongebob
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Joined: January 8th, 2004, 11:44 am

Career Change @ 40

February 21st, 2004, 2:42 am

I agree with Alphabet.Everything should be fine with your skill set and experience. Just go for it. I think that your age would be a factor if you have aspirations to become a Quant Trader.
 
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bobmarley
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Joined: February 14th, 2004, 11:38 pm

Career Change @ 40

February 22nd, 2004, 1:17 am

Alphabet & spongebob,thanks for the input. I've got the stamina for a fight, just didn't want to bang my head against a brickwall in the hopes it will fall down.thanks again.I'll post on my experience in the hopes it helps young and old alike.bobmarley----------------------"One good thing about music,When it hits you feel no pain" -- Bob Marley
 
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Raju
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Joined: May 30th, 2003, 11:04 pm

Career Change @ 40

June 10th, 2004, 6:51 pm

bobI am also in the same boat - minus Phd - only 2 * MS as you - want to try to get in. Job market is getting metter which might help.rk
 
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ppauper
Posts: 11729
Joined: November 15th, 2001, 1:29 pm

Career Change @ 40

June 10th, 2004, 7:26 pm

Last edited by ppauper on December 15th, 2004, 11:00 pm, edited 1 time in total.
 
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brontosaurus
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Joined: May 10th, 2004, 8:33 pm

Career Change @ 40

June 10th, 2004, 8:33 pm

I did an internship with a guy who was 33, so I guess its never too late. I think the key is to get an internship that takes you into somthing you enjoy - and then managers will value your maturity
Last edited by brontosaurus on June 9th, 2004, 10:00 pm, edited 1 time in total.
 
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nsande
Posts: 3
Joined: January 9th, 2002, 11:00 am

Career Change @ 40

June 11th, 2004, 6:05 am

I was 35 when I switched to finance but I'm not in New York. It might that the cult of youth is more prevalent in the Americas?Also, I'm in Risk Management and not trading. Regards,Niclas
 
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maarulal
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Joined: May 27th, 2004, 5:07 pm

Career Change @ 40

June 11th, 2004, 5:59 pm

I'm in the same situation, 40, PhD in numerical math (PDEs), C++, basic math in finance knowledge (books and coursesat Columbia Uni), and I was looking for a quant job for more than a year. No luck so far, even though I had few interviews.One recruiter told me directly, that I'm too expensive for someone who doesn't have financial experience, and that employers prefer young people right out of the school. Indeed, the competition with recent fin. math. grads is high.Even few years ago the situation was quite different, and it used to be much easier to get a job. However,I think it's not totally impossible, it just takes a good deal of effort. And don't expect immediate results, unless youare a genius. Excel/VBA should not be a problem, it can be learned within few days.