So from what I understand obtaining an internship during the summer is quite difficult, especially for someone with no work experience like myself?
Yes, It is a bit tough to get a summer internship but not impossible. If you can top the class, Prof. Igor or Prof. Bielecki will refer your profile to some firms. I have seen few students getting summer internship without prior experience. All you have to do is to network and attend as many conferences as possible. But, You don't get much time in the first year because you will be learning basic stochastic calculus, Financial Mathematics, basic derivative pricing and also programming either C++ or Python or both.
If graduated students have a difficult time breaking into quant analyst roles, where do they typically end up working?
Please, check the LinkedIn profile of Alumni of IIT MMF.
Where did you work for your internship if you don't mind me asking?
Sorry, I can't disclose my role on the public forum.
What did you like most about the program?
I really liked all the courses. Pricing options and other derivates is an eye-opener. The project on hedging realtime options using Black-Scholes and other basic models is very good. I learned a lot from the course.
Why did you choose this program?
First, I was just looking for courses either in Newyork or Chicago because of location. But, I picked Chicago because of personal family preference. Second, the finance classes happen at downtown campus and maths class happens on the main campus. Even if you get an internship in Chicago, you can continue the internship throughout the second year and attend the classes in the evening. You don't have to commute much or leave your internship. It could be potential full-time.
Would you recommend this program who is trying to obtain an entry-level position as a junior quantitative analyst? Is it possible to obtain this position through this program?
I can't comment on this part because it totally depends on your skill set. But, getting the entry-level job is not impossible. As I said earlier, networking, meeting people from industry and volunteering for conferences that happen in the city will help to understand the opening and skill set companies are exploring. Quant industry requires many skills such as maths, finance, programming and last but not least communication.
Thank you for your time!
