Advice for a "future" Quant Developer, with 10 years programming experience?

[JasynL]

I have been working as a developer of online database-drive information systems for ten years. Much of my experience has been in LAMP Web development and I now work at the Technical Lead level with a few developers reporting to me. I was working on an MS in Technology Management.

Lately, I am interested in Big Data, machine learning, and using mathematical models to solve problems. I feel that I have the personality and aptitude for a career as a "Quant Developer" and have thought about making a career change. I'm particularly interested in algo trading, forecasting, signals analysis, etc. But I'm 36 and I'm no fool about how much commitment is required to make a change.

Here are some challenges:

• I would have to live in New York or London (my fiance and I are OK with making the move).
• I have to learn R, Python, and Java (I know six other programming languages already and I did some C++ in college so I'm up to the challenge).
• I would have to get a MS in a more "pure" STEM degree like Computational Statistics. (Cross my fingers, but Carnegie Mellon or MIT would be nice, of course! )
  
• I would ultimately have to pursue graduate research and work toward a PhD (so this becomes a problem because I'll be in my 40s by then).

Are there a lot of other developers that make the switch to the finance industry after having accumulated years of work experience? And if not, does that give one a competitive advantage over a total newbie coming out of school with no prior work experience?

The biggest problem I have is devoting the next 5-7 years to postgraduate academic studies. I'm sure this has been asked a lot, but are there any "short cuts" to getting into the industry as a Quant Developer?

• What is the minimal academic qualifications one must have?
• I have discovered that a CS degree is not a prerequisite to getting a job as a developer. Is it possible that, in the same way, one can work in the financial industry without having a PhD if they have study and learn all the relevant subject matter?
• Is it possible to intern or apprentice your way into the industry? (I'm sure there are thousands of other people more qualified trying to do just that, of course.)
• Is it easy to start out in a lower tier company and work your way up after you've gained experience?

Any thoughts or suggestions are greatly appreciated. Though please be nice, I'm asking because I sincerely want to learn and know more.

 

[daleholborow]

if you arent particularly interested in finance per say, and you want to solve problems with math/IT/etc, there are plenty of other avenues (silicon valley, medical, logicistics, etc research) that you might want to consider.


if you're aiming at quant dev with the idea of making zillions of dollars, i suggest looking around on this forum for the Paul and Dominic quant career guide... it might give you some material and insights to consider about the reality of quant dev (for *most* people -> i DO know a couple guys working in trading/market making as fairly pure Quant Dev roles who make VERY decent money)

 

[JasynL]

No, the idea isn't to make zillions. I'm close to reaching my max potential in the field of Web development (in terms of salary). There's not much potential for vertical moves except for the CIO office, if I'm lucky! I agree that there are other avenues, which I'm exploring too. But my interests are in Big Data and machine learning. That's where all the cool stuff is happening in the IT world. And I'm motivated by being on the cutting edge. So, it's either the fields of healthcare or finance. I'm here inquiring about Quant Dev as a serious potential avenue. I've read all the advice on QuantNet, but thanks for pointing me to the career guide. Reading it now.

 

[MNRC]

No, the idea isn't to make zillions. I'm close to reaching my max potential in the field of Web development (in terms of salary). There's not much potential for vertical moves except for the CIO office, if I'm lucky! I agree that there are other avenues, which I'm exploring too. But my interests are in Big Data and machine learning. That's where all the cool stuff is happening in the IT world. And I'm motivated by being on the cutting edge. So, it's either the fields of healthcare or finance. I'm here inquiring about Quant Dev as a serious potential avenue. I've read all the advice on QuantNet, but thanks for pointing me to the career guide. Reading it now.

I have to echo something I was told once--that if you want to go into finance you need to be dedicated to this goal. It can't be done part-time or as a "possibility" because the competition is too intense. While I was considering quant finance as a potential career others had been molding themselves for banks--complete with straight A's in graduate math courses, NSF fellowships, research publications in prominent journals, math Olympiads, great internships, and a ton of fin math courses, etc. Plus many had the advantage of age over me as well. I am competing with these people now and it's been really tough.

I think if you decide to pursue quant development you'll need to make a total commitment to it, otherwise you won't get any interviews (I learned this the hard way).