Need Advice on Career Switch to Quant

[vanthegolden]

Hi All - Hoping to get some advice on career switch to quant.. I worked as a financial software consultant (for 2 years) and have been working as a business analyst for the same financial software company for 2 years. The software is designed for electronic trading, portfolio management and valuation/risk reporting and it is used mostly by buy side PMs and traders. I work on new features and enhancements for this software so I'd say I have a good understanding of the financial markets, but nothing related to quant analysis.

My undergrad major was Finance from the University of Washington. I took advanced linear algebra, calculus courses and some programming courses then but didn't pursue math or CS as a minor. I went on to get an MSc in Finance (totally not worth it imo) and after that got the job I mentioned above. I applied for quant jobs at the time but didn't get in, and due to my visa issue, I just had to accept a job offer that could help with my visa. So after 4 years and I no longer have to worry about visa, I'm looking to see if I could make the switch to quant.

I've been taking python and C++ programming online courses, and I could also take some courses to refresh my math skills. Would that be enough to get interviews? Or should I pursue an MFE/would that help? I have a CFA, does that help in this case? Any advice that you could offer?

Thanks for reading!! Please let me know what your thoughts are.

 

[CrossGamma]

I think it will be difficult to get interviews with your current profile. First, serious quant positions typically don't consider finance graduates. This is why you had trouble getting interviews four years back already. Second, your work experience is not really relevant. Even if you say that you took advanced maths classes as an undergraduate, recruiters will likely give you little credit for this especially given that your current roles don't require them. This makes you less competitive than you were four years ago to be considered for entry level quant positions. I think taking an MFE would be useful to achieve the career switch since it allows you to demonstrate your skills in relevant courses and an accredited degree. Online maths courses (Coursera and the likes) as well as a CFA won't help you getting interviews. A good career service should be able to help you get a foot in the door with employers.

 

[vanthegolden]

@CrossGamma - Thank you for your insights!

 

[Ken Abbott]

First, serious quant positions typically don't consider finance graduates.

Define "serious quant positions." I know many very successful quants who have MS degrees.

 

[CrossGamma]

I said "finance graduates" not Masters degrees in general and by that I explicitly mean pure "finance" and not financial engineering, quantitative finance, .... The exception is maybe the Princeton Master in Finance. Sure you'll find the odd guy from finance who becomes a successful quant but that's not the norm.

 

[WZhang]

I said "finance graduates" not Masters degrees in general and by that I explicitly mean pure "finance" and not financial engineering, quantitative finance, .... The exception is maybe the Princeton Master in Finance. Sure you'll find the odd guy from finance who becomes a successful quant but that's not the norm.

He should look into going into grad school for financial engineering, computer science or something quantitative. Quite a lot of finance students wind up doing a masters in quantitative finance. Though I do not suggest using coursera and what not to go to grad school. I been using Baruch PFE-financial engineering courses to boost my chances to get into the program.