I am very confused lately about where to go in the future.
I am 21 years old, completed two bachelors, one in computer engineering and another one in applied economics at Queen's University in Canada. Since graduated 1 year and half ago, I have been working at a canadian bank doing model validation work in risk management group. So by April, I would have 2 years of working experience in a semi-quant group. My collegues are mostly Ph.D in econometrics and physics, I was hired based on my programming skills more than anything else.
Since last September, I have started an evening/weekend master program, Master of Finance at University of Toronto. The program director is John Hull, pretty much the only reason I went in it. It is not really a quant program, despite having Hohn Hull as the director. The program is more like a MBA that focused on finance.
So I started taking MFE courses from Columbia University through their CVN program. So far, I have done two courses, and taking two more this term.
In term of professional designations, I have my FRM, PRM (PRMIA), and working on my CFA.
I know I want to leave my current job after I graduated from the master program, perhaps even sooner. (Risk management is a bit boring, and slow for my type) But I am just not sure which field I should go into. I like math (I feel I am not very good at, but that maybe because I am surrounded by econ and math Ph.Ds), modelling, trading, and programming to certain extends. For a very long time, I have been thinking about prop trading desk, and hedge fund. but with this financial crisis, I am not sure about the future of those anymore. If prop trading and hedge fund got regulated and scale back, there probably won't be much demand for quants.
I am also debating if it is worthwhile to do a Ph.D. If a Ph.D, in what field? People have told me to do in finance at a top business school, but there are other told me I should do in a quant field like math, stats, or computer science.
My last confusion is about what a true quant job is like at a prop trading desk, hedge fund, or front desk? I virtually know no one in those field, all my friends went into ibanking and private equity, and I have always envied their lifestyle, intense but rewarding. Is quant as rewarding as people in PE and ibanking? When I read through the forum, I often get contrast answers, which caused even more confusion in my head.
Could someone help me with those questions?
Thanks in advances for all the helps I will get.
George
I am 21 years old, completed two bachelors, one in computer engineering and another one in applied economics at Queen's University in Canada. Since graduated 1 year and half ago, I have been working at a canadian bank doing model validation work in risk management group. So by April, I would have 2 years of working experience in a semi-quant group. My collegues are mostly Ph.D in econometrics and physics, I was hired based on my programming skills more than anything else.
Since last September, I have started an evening/weekend master program, Master of Finance at University of Toronto. The program director is John Hull, pretty much the only reason I went in it. It is not really a quant program, despite having Hohn Hull as the director. The program is more like a MBA that focused on finance.
So I started taking MFE courses from Columbia University through their CVN program. So far, I have done two courses, and taking two more this term.
In term of professional designations, I have my FRM, PRM (PRMIA), and working on my CFA.
I know I want to leave my current job after I graduated from the master program, perhaps even sooner. (Risk management is a bit boring, and slow for my type) But I am just not sure which field I should go into. I like math (I feel I am not very good at, but that maybe because I am surrounded by econ and math Ph.Ds), modelling, trading, and programming to certain extends. For a very long time, I have been thinking about prop trading desk, and hedge fund. but with this financial crisis, I am not sure about the future of those anymore. If prop trading and hedge fund got regulated and scale back, there probably won't be much demand for quants.
I am also debating if it is worthwhile to do a Ph.D. If a Ph.D, in what field? People have told me to do in finance at a top business school, but there are other told me I should do in a quant field like math, stats, or computer science.
My last confusion is about what a true quant job is like at a prop trading desk, hedge fund, or front desk? I virtually know no one in those field, all my friends went into ibanking and private equity, and I have always envied their lifestyle, intense but rewarding. Is quant as rewarding as people in PE and ibanking? When I read through the forum, I often get contrast answers, which caused even more confusion in my head.
Could someone help me with those questions?
Thanks in advances for all the helps I will get.
George