Recent review by eFC Safest Job in Wall StreetHow much is correct is follwing statement on HF Trading / Quant TradingQuoteHigh-Frequency Trading Systems Despite the news media's recurring attempts to bury them, quantitative trading strategies are alive and well. That's why Kyle Ramkissoon, principal at New York recruiting firm IJC Partners, says building models and code for rapid-fire trade execution is one of this year's safest career bets. "We've seen a huge increase in demand for quants or financial engineering folks" with experience building high frequency systems based on tick data and working with large data sets, he says. "They're the coders, but have strong math and statistics skills."

I was actually wondering about this myself. It seems the only quant job advertisements that are still left out the are Quant Trading and High Frequency. Is that a reflection of reality?

I also think the safety of ur job depends on where u work as much as on what u work on..for example Citigroup is mulling closing down their prop trading operations, same with DB (scaling down) and many others ( i assume), working in a profitable HF will keep ur job much safer IMO

There was a lot of demand for high frequency algorthmic quantitative traders late last year. With the stock market being hugely volatility there was a lot of demand for people to work on systems that could execute trades quickly. However, since the start of the year, volatility has gone way down, and if this continues, I think the market for this job is going to evaporate. The scary possibility was that the market was only very volatility because everyone wanted to get out, and now that everyone is out, then the jobs that involved getting them out are gone.

QuoteOriginally posted by: pgeek1I also think the safety of ur job depends on where u work as much as on what u work on..for example Citigroup is mulling closing down their prop trading operations, same with DB (scaling down) and many others ( i assume), working in a profitable HF will keep ur job much safer IMO anybody know the web address for the support group for laid off citi quants?

QuoteThere was a lot of demand for high frequency algorthmic quantitative traders late last year. With the stock market being hugely volatility there was a lot of demand for people to work on systems that could execute trades quickly. However, since the start of the year, volatility has gone way down, and if this continues, I think the market for this job is going to evaporate. The scary possibility was that the market was only very volatility because everyone wanted to get out, and now that everyone is out, then the jobs that involved getting them out are gone. ------------------------- Code Janitor So HF trading jobs are like seasonal ? they only work in volatile markets , so if there is no volatility they will laid off... this don't make sense if someone wants to take it as career, rite !

QuoteOriginally posted by: RiskCapitalRecent review by eFC Safest Job in Wall StreetHow much is correct is follwing statement on HF Trading / Quant TradingQuoteHigh-Frequency Trading Systems Despite the news media's recurring attempts to bury them, quantitative trading strategies are alive and well. That's why Kyle Ramkissoon, principal at New York recruiting firm IJC Partners, says building models and code for rapid-fire trade execution is one of this year's safest career bets. "We've seen a huge increase in demand for quants or financial engineering folks" with experience building high frequency systems based on tick data and working with large data sets, he says. "They're the coders, but have strong math and statistics skills." Assuming this is correct and demand increases, the necessary skills are not necessarily what one finds in MFE and/or most CS programs. Candidates must be real-time/HPC developers and be strong in applied maths. Some engineering studies as background might be more suitable. A guess is s/w will be more important than the other aspects of the problem.

QuoteSo HF trading jobs are like seasonal ? they only work in volatile markets , so if there is no volatility they will laid off...Except that all jobs in finance are like that. Some field is super-hot, people seem to me making lots of money, and there are lots of jobs. Then it cools so either bonuses shrink or the people in that field get laid off.QuoteThis don't make sense if someone wants to take it as career, rite !That's why you need to be developing skills rather than chasing after the flavor of the month. If you don't have the skills for high frequency trading right now, then by the time you get them the markets will have moved to something else.

QuoteThat's why you need to be developing skills rather than chasing after the flavor of the month. If you don't have the skills for high frequency trading right now, then by the time you get them the markets will have moved to something else.True.But some skills are so useful that you know that they can and will be used in the future, irrespective of what kind of application it is.

QuoteThat's why you need to be developing skills rather than chasing after the flavor of the month. If you don't have the skills for high frequency trading right now, then by the time you get them the markets will have moved to something else. Totally Agree Twofish, in finance we need to keep updating skills and developing newer skills. But having said that, no one can predict which area will the gold mine in say 5 years ....But this does raise One question, when you say developing skill and chasing flavor of the month, didn't majority of student's did chased a PhD in Credit Deriv. or / and related subjects but still their PhD's.... is not all wasted rite!!Since PhD they did develop their skills but given they chase a subject in Credit Deriv.

QuoteOriginally posted by: RiskCapitalno one can predict which area will the gold mine in say 5 years .... Here's 2 finance jobs that are GUARANTEEED to be stable. They are solid during a bubble and in even greater demand during a recession/depression. What are these jobs? (a) corporate lawyer; (b) accountant/bookkeeper. Put on those green eyeshades and get to work.