Advice for a senior software engineer looking at quant...

[anon]

Hello community,

This is my first post here. In fact, I only recently learned about Quant when at a dinner party last week. I just picked up the book "The Quants" and thought that I'd learn more about this field where money seemingly grows on trees....

My background involves an undergraduate degree in physics and a graduate degree in computer science, both from reputable schools. Since then I've lived in Silicon Valley, working on some fairly well known projects.

While I have had some success here, the numbers that I have heard thrown around in relation to Quant dwarf the payscale for silicon valley engineers. To put this in perspective, the highest paid software engineer that I personally know makes about $150k / year. And this is a rare case.

Outside of salary, the path to wealth out here seems to involve some luck: joining a startup, getting a fraction of a percentage of stock options at the company, and having the company become worth an unusually large amount of money. However, I have known projects that sound great fail, and companies that seem to make no sense IPO or get acquired for absurd amounts of money.

So when I heard about Quant I became interested in learning more about this world. It seems like a way to financially move into a different world. Is this correct?

My main reason is writing this forum post is to understand:
1. Is my existing skillset of value to this industry?
2. Are there jobs for this field in Silicon Valley / the San Francisco Bay Area?
3. If there are jobs in this field in this location then:
a. Where can I find job postings for them?
b. Where can I find impartial data on salary / compensation?

 

[Lyosha]

If you are looking to become rich quick don't become a quant.

 

[TBeas]

Wilmott forums have a job posting section you can look at. Some of the jobs have a salary stated, some don't.

I would say if you are looking to get into any field simply because of money, don't.

 

[DominiConnor]

The average in this business is higher than $150K, though of course if you don't get in you don't get paid...

There exist jobs in the Bay area.

As Tbeas says. Wilmott.com has a decent sampling of job ads.

There are too many parameters to get a good degree of precision on what you might earn.

From what you've shared, you have done the basics of the math you need for this job, but you will need to know more, especially numerical methods and of course the finance itself.

The easiest transition is if your work has been largely C++ and harder if you've only done Java.

 

[marina]

Hello community,

My main reason is writing this forum post is to understand:
1. Is my existing skillset of value to this industry?
2. Are there jobs for this field in Silicon Valley / the San Francisco Bay Area?
3. If there are jobs in this field in this location then:
a. Where can I find job postings for them?
b. Where can I find impartial data on salary / compensation?

post your resume in http://www.efinancialcareers.com/
you will know the answers.

 

[anon]

Thanks so much for these prompt answers guys. I will follow up as you suggest.