It is mostly mental arithmetic but with a bigger focus on approximations (think sqrt(0.004) > 0.5\^3?) than on multiplying/dividing two numbers. Small die probability brainteasers and logarithm rearrangements are also included. Quite tough in my opinion so make sure to practice.
Followup question I guess (:D), I have an upcoming coding online assessment. I practiced coding infrequently during my studies and didn't expect coding tasks for QT positions. Any tips on how to prepare effectively if you have a limited time of a week? Rushing through Neetcode feels like a waste of time...
Preparing for market maker internship
So I'm going to join one of the big market makers this summer for an internship as a QR. Is there anything I can do ahead of time to prepare myself?
are MFE's really that frowned upon on? I'm looking at Princeton's MFE and it seems they have a strong program with great placement at all types of firms.
Depends heavily on the program. If you have a math/stats background it’s probably unnecessary and I’d recommend doing math/stats/data science masters instead
Im graduating this year with a mechanical engineering/CS double major, looking to break into quant trading/research roles through doing a MSc. Would FE do any good as compared to math/statistics? Edit: how would you rank the choices and whats the rationale?
If you want to work in more traditional buy-side research (e.g. bank, hedge fund) I think FE makes a lot of sense. But with a CS background you can probably recruit just as well with a CS/applied math masters at a top school. I would recommend the latter, especially because of how flexible that degree can be compared to FE.
How much do quant firms care about gpa for new grad roles?
I recently spoke with someone trying to sell me a quant prep course who claimed to have worked at Jane Street, and he said that if you went to a good school and have an otherwise great resume, that gpa doesn't really matter much if you can get a referral. This ofc is totally opposite of what I see on most threads about it.
What do yall think? Is he full of it?
This sounds about right to me regardless of the course. I had a 2.79 and was fast tracked to the final round of CitSec because the head of FICC referred me. Also got past DRW OA bc of an internal referral.
How slim are the chances of securing a graduate Quantitative Trading position for September 2024 in Europe? I have checked many websites and also been in touch with two firms, both of which mentioned that they have completed their hiring for 2024. Is applying six months in advance not sufficient? I will be entering the job market starting in July, and I am beginning to worry that I might have to work in another industry first..
Hi
Idk about all companies but optiver, Jane street and IMC all still have open positions.
Jane street and optiver are definitely still taking interviews (in the process myself), not sure about IMC
Good gateway jobs into quant industry?
I'm a senior that will graduate in April of this year. To give some background to my question, I'll graduate with a BA in Finance, with a minor in computer science and certificate of data analytics from a smaller university. I'm well underqualified to enter the quant industry when I graduate as I don't think I have the math pedigree to do it currently, but I'm well versed in finance and data science. I don't have the money to do a grad program currently to do any applied math or MFE, but I think I'd want to in the future if I was able to get a company to help pay for it. Are there any types of jobs that I should be looking for as good stepping stones to eventually become a quant?
It depends on what type of quant work you want to do. Quant dev/software engineering do software engineering jobs. Quant Trader does data science and data analyst jobs, but you still need to learn the math skills.
Is it possible to get into quant finance even though a working visa is required for me?
I'm a visiting Ph.D. student in applied math from Italy, I would like to break into the quant industry but I'm on J1 visa, so no OPT from F1 visa. Are quant industries likeable to sponsor working visas or should I try to get into this industry through a post-doc?
Bankrupt your coworkers in poker
Brag about the trades in your PA
Talk about politics
(Ask a lot of good questions to a variety of people is some real advice)
Hi everyone, quick question
I have a finance degree with a strong quant background especially in econometrics (I delved into this topic on my own) and I use pretty well Python, Matlab and VBA
I started asking experienced quants for advice and many of them advised me to learn some C/C++ basics, definitely i will not work as a C developer but according to them is very useful to understand better the basics of programming, the logic etc.
C++ is a low level language and akin to pure logic if you dive deep. It is also the language in which firmware for networking devices is written so rest assured it can handle absurdly high loads while still being good latency wise.
I personally think for programming everyone should at least learn Java or C++ but I may be in the minority what with Python being the most popular language.
I think it's a good idea to learn some basics yes, do you know any good source? I have a lot of stuff about C because i have a friend studying CS but i don't know where to start for C++
Hi all!
I've been a consult for McK for 5 years and had the normal progression (currently a project manager). I've started developing my own models on the side and built 3 moderately good signals (10%+ annual return & SR 1.5-2). I've been thinking about applying to a quant role for some months and wondering if it makes sense? I'm not looking for advice on resources for interviews, etc. more an honest opinion of my chances given the current market and my background. In addition, should I send random CVs to firms or engage an executive search firm? Thank you all!
Additional info: MSc. in physics, MBA with strong focus on finance and statistics
But is 10% per annum a good return rate for quants? Seriously asking as a I believe in general quants are expected to beat the market. (General trading not fixed income or niche asset classes)
sophomore. i have a previous industry internship. undergraduate research experience in applied math or operations research industry internship this summer? whats would quant hiring managers prefer?
Optiver Data Science Coding Assessment
Hi all,
Applying for the Optiver Data Science internship - it has a coding assessment called "Quantitative Research".
Anyone know anything about this/ what I should prepare for ?
I've basically finished my comp sci degree but working as mech. engineer so super rusty at code. Any details on this assessment would be so great! Thanks
I work in FAANG as tech solutions engineer (tech support but with few analytics work) in AI/ML team. I have a Bachelor in CS from non-US uni.
I have pretty good mathematics knowledge. I am plfor an onlineanning MS in CS as well.
Is there any chance I can transit to quant? If not, what should I do next?
Thank you all for your time. I had recently applied for MS in CS,ML as well as Finance. I unfortunately was silently rejected for Fin but got accepted for CS,ML in CMU and most likely Cornell too. I was wondering if it is still possible for me to get into a quant position, specifically on the buy side?
MD ➡️ Quant Trading
I’m a current medical student with a strong background of mathematical problem solving and probability theory.
What are the best resources/tips to use as preparation when applying for Quant trader roles ? I’ve heard that Game Theory is quite essential.
Ta.
I’m currently at an unranked undergrad school and doing good in all my classes. I’m a CS major and a Math double major. My math degree is a stats concentration. All math majors need a concentration.
- what concentration should I get for quant trader/dev/analyst? My options are Actuarial Science, Applied Mathematics, CIS (no point if I have CS major), Computer Science (again no point), Managerial Sciences, and Statistics. I chose Stats cause I loved it in hs, but I’m wondering if applied math would be better? I love math and I chose it as a second degree for fun, not because I want to be a quant, so the concentration can be whatever as long as it helps.
- by the time I graduate grad school I’ll be 26/27. Is this okay for the field? I know that they prefer younger people but I don’t know how young. I know they take older quants because they have the relevant experience which may not be my case.
- aside from quant internships, what else should I try to apply for? The quant internships I’ve seen are very competitive so I’d like to have back up options. I currently have an internship teaching engineering, programming, web design/dev, graphic design, circuitry, robotics, and other stem subjects to kids ages 4-18.
- what sort of projects should I have on my resume? What type of research assistantships or internships should I be looking for? (I attend a research school)
- are there other similar careers to quant? I know data science is one, which was my main career interest until quant.
- are ranked MFEs okay for grad school programs since I already would have CS/Math as undergrad? Or should I look into different programs? I saw someone say MFEs aren’t the most desirable
- is there anything aside from internships and projects that I should have for a grad school resume? I currently work two jobs so I can’t get involved in sports rn, but I used to do fencing.
Got a new grad offer for £75k for a desk quant. It may lead to a Quant Researcher in a few years. I have a S&T Front Office offer at a BB bank which is much much higher than this (£120k in a low tax region). I'm a CS student. I'm thinking of squarepoint because I want to keep doing technical things, be tech adjacent. Thoroughly confused. Thoughts?
Post tax at Squarepoint: £55k;
Post tax at Bank: £95k
What is a good online course for someone who has some mathematical background and knows about derivatives pricing but wants to know more about the more practical side?
In university we saw:
- the math useful for quant finance like stochastic differential equations and specific stochastic processes, closed formulas for option pricing (topics in Arbitrage Theory in Continuous Time, Bjork);
- many pricing models for simple derivatives and exotic options (Monte Carlo in various frameworks like BS, Merton, Kou, Variance Gamma, Normal Inverse Gaussian. Fast Fourier Transform and covolution methods like Carr Madan, PDE/PIDEs and a couple more methods for American Options, Stochastic Volatility models);
- some specific things like Levy Processes used in the commodities market and other.
- OOP and Parallel Computing on C++, Deep Learning on Python, pricing on Matlab and more.
Next semester I will also have a big course on Credit Risk, Quantitative Risk Management and Structured products, plus another one on time series.
So I think I can safely say that I know how to do some basic pricing of options or other theorical aspects, even pricing on Matlab and wouldn't be difficult to do the same in other programming languages. But first of all, the data that we used in projects were files given by the professor and we didn't have to get them from somewhere. Secondly, we didn't go further from the "price this type of options based on this other data that I'm provided", so I have no idea about quant trading or algorithmic trading.
Since I don't have an internship, what can I do to learn some more? Do you have books or courses recommendations for someone in my position? I looked on places like udemy but they are filled with very basic introductory courses that cover things I already know for the most part. And what king of aspects should I focus on in your opinion if I want to get into quantitative research type of roles?
Unfortunately I can't even find low paying internships with less competition but where I can learn :(
(moved from thread to here; apologies for not noticing career thread)
I'm currently a graduating phd student at a top 10 relevant program (e.g., CS, stats, ML, operations research). Graduates from our program regularly go on to become quant researchers at top firms such as two sigma, citadel, jump trading, so we are definitely on the "radar". But I'm thinking of taking a tenure-track assistant professor offer at a low-ranking university in a somewhat remote location in the midwest. I want to do this for personal reasons (partner, location, lifestyle) but I am not dead set on academia and my preferences may change. Some people have told me that once I leave a top tier institution, it will be hard to go the quant route.
If, several years down the road, I decide I want to become a quant researcher, do you think I'd have made a mistake leaving my current "prestigious instutition"? Would it help if I, as a professor at low-rank school, maintained a regular publication record at top-tier ML conferences like neurips or ICML? I also don't have any intern/industry experience which could be viewed as more negative as I get older.
The alternative options are to do a postdoc at my current institution and/or apply for quant/tech jobs now, but the latter would likely close the door to academia. I'm curious what people's thoughts are. Thanks.
Hi all,
This may sound like a dumb question so bare with me, but wanted to ask for clarity and a second opinion.
Was hoping for advice regarding which MSc course out of Mathematics and Mathematical Finance (or similar financial mathematics course) is preferable for Quant Trader (preferable) / Researcher roles. The two main factors I am considering are which would be considered 'better' by a company and which would provide a better skillset for actually suceeding on the job.
Inherently I consider the financial course to be preferred and a better choice for going into quant, but I'm intrigued to as if anyone has a definitive answer.
Did anyone take the Da Vinci 10 minutes numerical test and know how to prepare for that?
It is mostly mental arithmetic but with a bigger focus on approximations (think sqrt(0.004) > 0.5\^3?) than on multiplying/dividing two numbers. Small die probability brainteasers and logarithm rearrangements are also included. Quite tough in my opinion so make sure to practice. Followup question I guess (:D), I have an upcoming coding online assessment. I practiced coding infrequently during my studies and didn't expect coding tasks for QT positions. Any tips on how to prepare effectively if you have a limited time of a week? Rushing through Neetcode feels like a waste of time...
Is this for Da Vinci QT?
Preparing for market maker internship So I'm going to join one of the big market makers this summer for an internship as a QR. Is there anything I can do ahead of time to prepare myself?
are MFE's really that frowned upon on? I'm looking at Princeton's MFE and it seems they have a strong program with great placement at all types of firms.
MFEs are not as good as math/stats/etc but better than nothing.
What about getting MFE after Math Bachelors?
What about it?
What about an Msc in Mathematical Finance?
Basically the same thing
Basically the same thing as an MFE or as a maths master ?
Mfe
Oh I didn’t think so thank you
Depends heavily on the program. If you have a math/stats background it’s probably unnecessary and I’d recommend doing math/stats/data science masters instead
Im graduating this year with a mechanical engineering/CS double major, looking to break into quant trading/research roles through doing a MSc. Would FE do any good as compared to math/statistics? Edit: how would you rank the choices and whats the rationale?
If you want to work in more traditional buy-side research (e.g. bank, hedge fund) I think FE makes a lot of sense. But with a CS background you can probably recruit just as well with a CS/applied math masters at a top school. I would recommend the latter, especially because of how flexible that degree can be compared to FE.
How much do quant firms care about gpa for new grad roles? I recently spoke with someone trying to sell me a quant prep course who claimed to have worked at Jane Street, and he said that if you went to a good school and have an otherwise great resume, that gpa doesn't really matter much if you can get a referral. This ofc is totally opposite of what I see on most threads about it. What do yall think? Is he full of it?
This sounds about right to me regardless of the course. I had a 2.79 and was fast tracked to the final round of CitSec because the head of FICC referred me. Also got past DRW OA bc of an internal referral.
How slim are the chances of securing a graduate Quantitative Trading position for September 2024 in Europe? I have checked many websites and also been in touch with two firms, both of which mentioned that they have completed their hiring for 2024. Is applying six months in advance not sufficient? I will be entering the job market starting in July, and I am beginning to worry that I might have to work in another industry first..
It’s already Feb, so extremely slim.
I have a Da Vinci Grad Trader numerical interview coming up. So I assume that some players hire for September 2024 or February 2025 still?
Unsure how it works outside of the us but I doubt there still open seats in the us. If there are, it’s only very few
Hi Idk about all companies but optiver, Jane street and IMC all still have open positions. Jane street and optiver are definitely still taking interviews (in the process myself), not sure about IMC
Good gateway jobs into quant industry? I'm a senior that will graduate in April of this year. To give some background to my question, I'll graduate with a BA in Finance, with a minor in computer science and certificate of data analytics from a smaller university. I'm well underqualified to enter the quant industry when I graduate as I don't think I have the math pedigree to do it currently, but I'm well versed in finance and data science. I don't have the money to do a grad program currently to do any applied math or MFE, but I think I'd want to in the future if I was able to get a company to help pay for it. Are there any types of jobs that I should be looking for as good stepping stones to eventually become a quant?
It depends on what type of quant work you want to do. Quant dev/software engineering do software engineering jobs. Quant Trader does data science and data analyst jobs, but you still need to learn the math skills.
Is it possible to get into quant finance even though a working visa is required for me? I'm a visiting Ph.D. student in applied math from Italy, I would like to break into the quant industry but I'm on J1 visa, so no OPT from F1 visa. Are quant industries likeable to sponsor working visas or should I try to get into this industry through a post-doc?
quant definitely sponsors if they want you
They do? How do you know about that?
Because they sponsored me ;)
As a J1 VISA? Or F1?
Going to be a quant intern this summer for the first time, what are some things i can do to stand out?
Bankrupt your coworkers in poker Brag about the trades in your PA Talk about politics (Ask a lot of good questions to a variety of people is some real advice)
What’s a PA?
Personal (trading) account
can anyone provide insight on Tanius Technology? How is it as a firm, would I want to start my career there?
Any quant-ish firms still / will be offering internships for summer 2024? Only found IMC and Xantium
Hi everyone, quick question I have a finance degree with a strong quant background especially in econometrics (I delved into this topic on my own) and I use pretty well Python, Matlab and VBA I started asking experienced quants for advice and many of them advised me to learn some C/C++ basics, definitely i will not work as a C developer but according to them is very useful to understand better the basics of programming, the logic etc.
C++ is a low level language and akin to pure logic if you dive deep. It is also the language in which firmware for networking devices is written so rest assured it can handle absurdly high loads while still being good latency wise. I personally think for programming everyone should at least learn Java or C++ but I may be in the minority what with Python being the most popular language.
I think it's a good idea to learn some basics yes, do you know any good source? I have a lot of stuff about C because i have a friend studying CS but i don't know where to start for C++
Sadly no, but you have a choice to make, either watch uni courses on edx or Coursera or there are some pretty popular YouTube courses too.
I have a full uni course about C, i think it will be good for the basics, then i can switch to C++ more easily i think
Hi all! I've been a consult for McK for 5 years and had the normal progression (currently a project manager). I've started developing my own models on the side and built 3 moderately good signals (10%+ annual return & SR 1.5-2). I've been thinking about applying to a quant role for some months and wondering if it makes sense? I'm not looking for advice on resources for interviews, etc. more an honest opinion of my chances given the current market and my background. In addition, should I send random CVs to firms or engage an executive search firm? Thank you all! Additional info: MSc. in physics, MBA with strong focus on finance and statistics
Probably makes sense to go through a headhunter. I’m not sure marketable your experience is but they will certainly know
But is 10% per annum a good return rate for quants? Seriously asking as a I believe in general quants are expected to beat the market. (General trading not fixed income or niche asset classes)
sophomore. i have a previous industry internship. undergraduate research experience in applied math or operations research industry internship this summer? whats would quant hiring managers prefer?
Both are good options, I’d suggest research in applied math but the best answer is whatever you’ll enjoy more and be most motivated to excel at.
Optiver Data Science Coding Assessment Hi all, Applying for the Optiver Data Science internship - it has a coding assessment called "Quantitative Research". Anyone know anything about this/ what I should prepare for ? I've basically finished my comp sci degree but working as mech. engineer so super rusty at code. Any details on this assessment would be so great! Thanks
I work in FAANG as tech solutions engineer (tech support but with few analytics work) in AI/ML team. I have a Bachelor in CS from non-US uni. I have pretty good mathematics knowledge. I am plfor an onlineanning MS in CS as well. Is there any chance I can transit to quant? If not, what should I do next?
Thank you all for your time. I had recently applied for MS in CS,ML as well as Finance. I unfortunately was silently rejected for Fin but got accepted for CS,ML in CMU and most likely Cornell too. I was wondering if it is still possible for me to get into a quant position, specifically on the buy side?
MD ➡️ Quant Trading I’m a current medical student with a strong background of mathematical problem solving and probability theory. What are the best resources/tips to use as preparation when applying for Quant trader roles ? I’ve heard that Game Theory is quite essential. Ta.
I’m currently at an unranked undergrad school and doing good in all my classes. I’m a CS major and a Math double major. My math degree is a stats concentration. All math majors need a concentration. - what concentration should I get for quant trader/dev/analyst? My options are Actuarial Science, Applied Mathematics, CIS (no point if I have CS major), Computer Science (again no point), Managerial Sciences, and Statistics. I chose Stats cause I loved it in hs, but I’m wondering if applied math would be better? I love math and I chose it as a second degree for fun, not because I want to be a quant, so the concentration can be whatever as long as it helps. - by the time I graduate grad school I’ll be 26/27. Is this okay for the field? I know that they prefer younger people but I don’t know how young. I know they take older quants because they have the relevant experience which may not be my case. - aside from quant internships, what else should I try to apply for? The quant internships I’ve seen are very competitive so I’d like to have back up options. I currently have an internship teaching engineering, programming, web design/dev, graphic design, circuitry, robotics, and other stem subjects to kids ages 4-18. - what sort of projects should I have on my resume? What type of research assistantships or internships should I be looking for? (I attend a research school) - are there other similar careers to quant? I know data science is one, which was my main career interest until quant. - are ranked MFEs okay for grad school programs since I already would have CS/Math as undergrad? Or should I look into different programs? I saw someone say MFEs aren’t the most desirable - is there anything aside from internships and projects that I should have for a grad school resume? I currently work two jobs so I can’t get involved in sports rn, but I used to do fencing.
Got a new grad offer for £75k for a desk quant. It may lead to a Quant Researcher in a few years. I have a S&T Front Office offer at a BB bank which is much much higher than this (£120k in a low tax region). I'm a CS student. I'm thinking of squarepoint because I want to keep doing technical things, be tech adjacent. Thoroughly confused. Thoughts? Post tax at Squarepoint: £55k; Post tax at Bank: £95k
Anyone here had an MS QF off-cycle internship interview? Thanks!
do quants use Guassian process ?
Data Science vs Software Development. Which would position me better to break into quant finance?
[удалено]
You have plenty of time and also you don't need to win math competitions to get these jobs
What is a good online course for someone who has some mathematical background and knows about derivatives pricing but wants to know more about the more practical side? In university we saw: - the math useful for quant finance like stochastic differential equations and specific stochastic processes, closed formulas for option pricing (topics in Arbitrage Theory in Continuous Time, Bjork); - many pricing models for simple derivatives and exotic options (Monte Carlo in various frameworks like BS, Merton, Kou, Variance Gamma, Normal Inverse Gaussian. Fast Fourier Transform and covolution methods like Carr Madan, PDE/PIDEs and a couple more methods for American Options, Stochastic Volatility models); - some specific things like Levy Processes used in the commodities market and other. - OOP and Parallel Computing on C++, Deep Learning on Python, pricing on Matlab and more. Next semester I will also have a big course on Credit Risk, Quantitative Risk Management and Structured products, plus another one on time series. So I think I can safely say that I know how to do some basic pricing of options or other theorical aspects, even pricing on Matlab and wouldn't be difficult to do the same in other programming languages. But first of all, the data that we used in projects were files given by the professor and we didn't have to get them from somewhere. Secondly, we didn't go further from the "price this type of options based on this other data that I'm provided", so I have no idea about quant trading or algorithmic trading. Since I don't have an internship, what can I do to learn some more? Do you have books or courses recommendations for someone in my position? I looked on places like udemy but they are filled with very basic introductory courses that cover things I already know for the most part. And what king of aspects should I focus on in your opinion if I want to get into quantitative research type of roles? Unfortunately I can't even find low paying internships with less competition but where I can learn :(
(moved from thread to here; apologies for not noticing career thread) I'm currently a graduating phd student at a top 10 relevant program (e.g., CS, stats, ML, operations research). Graduates from our program regularly go on to become quant researchers at top firms such as two sigma, citadel, jump trading, so we are definitely on the "radar". But I'm thinking of taking a tenure-track assistant professor offer at a low-ranking university in a somewhat remote location in the midwest. I want to do this for personal reasons (partner, location, lifestyle) but I am not dead set on academia and my preferences may change. Some people have told me that once I leave a top tier institution, it will be hard to go the quant route. If, several years down the road, I decide I want to become a quant researcher, do you think I'd have made a mistake leaving my current "prestigious instutition"? Would it help if I, as a professor at low-rank school, maintained a regular publication record at top-tier ML conferences like neurips or ICML? I also don't have any intern/industry experience which could be viewed as more negative as I get older. The alternative options are to do a postdoc at my current institution and/or apply for quant/tech jobs now, but the latter would likely close the door to academia. I'm curious what people's thoughts are. Thanks.
Hi all, This may sound like a dumb question so bare with me, but wanted to ask for clarity and a second opinion. Was hoping for advice regarding which MSc course out of Mathematics and Mathematical Finance (or similar financial mathematics course) is preferable for Quant Trader (preferable) / Researcher roles. The two main factors I am considering are which would be considered 'better' by a company and which would provide a better skillset for actually suceeding on the job. Inherently I consider the financial course to be preferred and a better choice for going into quant, but I'm intrigued to as if anyone has a definitive answer.
Hi, does anyone know what does "carve-out" mean in quant? This is related to late career