Advice on going into Quantitative Finance.

[ResetRPG]

Hello all.

I am a 3rd year Student at a large public university in the Southeastern United States studying Mathematics & Music with minor in Finance.

I have a 3.80 GPA (specifically a 4.00 Math GPA), a fair number of extracurriculars, *research experience in Mathematics/Statistics (*provided I get into the REUs I applied to), along with being a math tutor for the university.

I have taken/will take the
1. Calculus Sequence
2. Linear Algebra
3. Differential Equations
4. Intro to Proofs
5. Advanced Calculus 1 & 2
6. Abstract Algebra
7. Numerical Analysis
8. Financial Markets & Institutions
9. Intermediate Financial Management
10. Investments
11. Two Math/Stats Electives at the 3000/4000 level
12. Two Finance/Real Estate Electives at the 3000/4000 level.

As the title suggests, I am interested in going int Quant Finance, specifically through a master's program in Mathematical finance/Financial Engineering.

What can I do/what skills should I acquire to boost my chances at getting into a Quant Program?

Also, is it realistic to go straight into a MSFE program straight from undergrad or should I have some work experience with Quantitative Finance before I enter into a master's program?

Thank you all for your help!

P.S: I apologize if some of these questions have been answered on other threads. Please refer me if you can!

 

[Andy Nguyen]

Get solid programming with C++ (at least 2 courses, some coding projects), Python (some real world projects with big datasets).
You can get into MFE program right out of undergrad but if you can get at least one internship before, you will have a stronger profile and more importantly, you have a better idea of things you need to learn.

 

[ResetRPG]

Get solid programming with C++ (at least 2 courses, some coding projects), Python (some real world projects with big datasets).
You can get into MFE program right out of undergrad but if you can get at least one internship before, you will have a stronger profile and more importantly, you have a better idea of things you need to learn.

Hey Andy,

Thank you so much for the response. I am required to take some Computer Science Courses as a part of my degree, but I will try to add on extras in C++ or Python before I graduate.

I hear that C++ is a notoriously difficult language to learn, and I have very little coding experience. Would you recommend learning Python or C++ first.

Thanks again!

 

[Andy Nguyen]

I hear that C++ is a notoriously difficult language to learn, and I have very little coding experience. Would you recommend learning Python or C++ first.

Thanks again!

C++ is the acid test for most quant interviews and positions. Everybody can claim they know Python but it's harder to make that claim with C++ with its reputation.
I will say that many MFE grads do not use C++ at work at all but knowing C++ will open many more doors for you than with only Python.
Knowing this, I think you should take the challenge head on and take C++ first. It will build a very strong foundation for you which will make Python much easier to learn.
We do have the best C++ and Python courses here which thousands of MFE students have taken over the years.

 

[Daniel Duffy]

Hey Andy,

Thank you so much for the response. I am required to take some Computer Science Courses as a part of my degree, but I will try to add on extras in C++ or Python before I graduate.

I hear that C++ is a notoriously difficult language to learn, and I have very little coding experience. Would you recommend learning Python or C++ first.

Thanks again!

On QN, C++ course is a joy to learn. We have set it up to learn it in easy stages.

 

[MichaelLewis]

C++ is the acid test for most quant interviews and positions. Everybody can claim they know Python but it's harder to make that claim with C++ with its reputation.
I will say that many MFE grads do not use C++ at work at all but knowing C++ will open many more doors for you than with only Python.
Knowing this, I think you should take the challenge head on and take C++ first. It will build a very strong foundation for you which will make Python much easier to learn.
We do have the best C++ and Python courses here which thousands of MFE students have taken over the years.

I can only speak for myself but, I’ve literally never been asked about Python. Recruiters only care that I know C++. Heck, even Java.

It breaks down like this generally:
Market makers, hedge funds, prop trading care about C++

Banks care about Java and sometimes C++.

Despite what you may hear, you can get low latency with Java. You won’t necessarily be competing for nanoseconds but certainly microseconds and that’s good enough for a lot of firms.

Although, keep in mind I am an algo developer and not a quant.

Plus, Python is evil. It hides too many details such that you have no idea what’s going on. You just delegate to some API and…magic. You need to know what’s going on and C++ will engrain that in you.

 

[ResetRPG]

On QN, C++ course is a joy to learn. We have set it up to learn it in easy stages.

That's great.

I did get a chance to look at some of the available resources and homework for the C++ course and they were excellent.

Thank you for the great resource, Dr. Duffy!

 

[ResetRPG]

I can only speak for myself but, I’ve literally never been asked about Python. Recruiters only care that I know C++. Heck, even Java.

It breaks down like this generally:
Market makers, hedge funds, prop trading care about C++

Banks care about Java and sometimes C++.

Despite what you may hear, you can get low latency with Java. You won’t necessarily be competing for nanoseconds but certainly microseconds and that’s good enough for a lot of firms.

Although, keep in mind I am an algo developer and not a quant.

Plus, Python is evil. It hides too many details such that you have no idea what’s going on. You just delegate to some API and…magic. You need to know what’s going on and C++ will engrain that in you.

I've heard the terms "algo" and "quant" before, but I thought they were synonymous.

What is the difference between the two?

 

[MichaelLewis]

I've heard the terms "algo" and "quant" before, but I thought they were synonymous.

What is the difference between the two?

Depends on how your referencing it.

Algo/quant developer is generally to describe someone who is implementing the strategy in code.

Quant (aka quant research) is the person coming up with the strategy.

Although, if you look at the job site for Hudson River Trading, they seem to use algo developer for what most people on QN would describe as a quant researcher. They then use the term core developer for the person implementing it.