Starting quant career in asia

[alain]

I like people being nasty. Perhaps you lost touched with your homeland if you are a Chinese or unfortunately you are not from these two Peking or Tsinghua. Please forgive me being rude. I did not say that other universities graduates wouldn't get a job from any investment banks but these two are branded and more IBs like to hire from them.

I know when I put up this statement may hurt Baruch because Baruch is not in the top 10 league but why you care if you are good enough. I believe only people who believe they are inferior may be in this so called insecurity situation will make such remarks.

My belief is that if you are good enough, then convince someone to hire you even you are not from the top 10. I am sure many graduates from Baruch may be or even smarter than the top 10. The only thing is that do you dare enough to borrow hefty loans to start your journey with a top 10 like Stanford or Harvard even you get admitted. You may be academic excellence but successes count on gut...do you have the balls?

Ah, what is a top 10 school?

You are talking about perception and believe me, so far on the street, they don't care too much about perception and they are really quick to find out if you are good or not. They just care about how you can make them money. If you make the cash register sing, you are hired.

I don't know anything about Chinese universities so I can't offer my opinion there but I happen to know people from Stanford and Harvard... and as usual, some are good some are bad. I have also been in mutiple schools (I happen to to had 2 graduate degrees and 2 undergraduate degrees for wierd reasons)... and I can tell you that Baruch MFE (at least the our year and the people I have interacted with) has a sense of family, where people care for each other. I didn't see that in any of the other schools I attended in this country.

HR might be interested in whatever ranking is in fashion at the moment but core groups, the one that do the hiring, don't look too much into it.

Also, I have seen that students from outside of US have formed an opinion about US schools. I think that's perfectly inline with marketing and with the history of the schools. That adds fuel to the fired. For instance if I tell you that Haveford College is better than Stanford in my opinion, you might be wondering "what the heck is Haverford?" Check it out.

 

[kean]

With due respect to Professor Dan and Baruch, if you are well qualified and the cost of studying at one of Ivy League universities or any Top 10 that perceived by the public in your chosen field is the same as Baruch for the sake of MFE......be honest...will you still choose Baruch if you get admitted to Courant, Haas and Baruch at the same time?

Sadly say that most people perceive that top 10 schools are better for some unknown reasons or unacceptable meanings, I would probably start from the pool of graduates from the top 10 schools first. The cost of hiring is high, why not cut down some filtering costs if the hiring cost is the same for elite schools and the normal schools.

Similarly, if BMW is at the same cost of Toyota..which one will you buy? Allas...you can tell me I will buy Toyota because I love Japanese car.

 

[kean]

One more thing, if Baruch has built up the strengths in FE sure all these IBs will hire at Baruch. Meanwhile, I think HR will still pick the Ivy League first. Please do not forget that most businesses feel more confident to deal with someone from Ivy Leagues if they have no ideas about a person for the start.

"...Mr. Chairman, let's me introduce my colleague Mr. XYZ who has just our firm from Stanford University...."

"...Mr. Chairman, let's me introduce my colleague Mr. XYZ who has just our firm from ABC University...."

Which one sounds better? ABC or Stanford? It is not only China. I think it applied to many locations. Similarly, Chelsea Clinton has no background in finance but she got the job with one of the prominent hedge fund. Why? My dad is the former US President. That's good enough. Finance is all about creating brand and buzz.....can you deny?

 

[alain]

Similarly, if BMW is at the same cost of Toyota..which one will you buy? Allas...you can tell me I will buy Toyota because I love Japanese car.

Have you ever driven a BMW? I have driven BMWs and Mercedes and I wouldn't change any of my Acuras for a BMW or a Benz. German cars are too heavy for my liking.... and Porsche is too small for me... I don't fit in them

 

[kean]

Errata:


"...Mr. Chairman, let's me introduce my colleague Mr. XYZ who has just joined our firm from Stanford University...."

"...Mr. Chairman, let's me introduce my colleague Mr. XYZ who has just joined our firm from ABC University...."

I used to have Volvo and Range Rover but I love BMW. I don't like Benz. I have a BMW 328.

Have you ever driven a BMW? I have driven BMWs and Mercedes and I wouldn't change any of my Acuras for a BMW or a Benz. German cars are too heavy for my liking.... and Porsche is too small for me... I don't fit in them

Cars are cheap in US compare to Asia. Warren Buffet can dry any car if he likes because he is a brand already. New kids in business may get a benz. Perhaps you earn enough like Mr. Buffer, any car will do.

 

[alain]

Similarly, Chelsea Clinton has no background in finance but she got the job with one of the prominent hedge fund.

keep in mind she was not doing Quant stuff.

 

[kean]

Again, she has no finance background. Who cares about quant in this case? She probably makes more than any quant. Relationship does matter.


I do like to post a challenge here. Given that the current confidence from the floor that FE and QF models can make millions of dollars from the street. How long can you make a million after your MFE? Would you ever be a multi-millionaire with your modeling?

Or you people skills and business connection.

keep in mind she was not doing Quant stuff.

 

[Vic_Siqiao]

I like people being nasty. Perhaps you lost touched with your homeland if you are a Chinese or unfortunately you are not from these two Peking or Tsinghua. Please forgive me being rude. I did not say that other universities graduates wouldn't get a job from any investment banks but these two are branded and more IBs like to hire from them.

I know when I put up this statement may hurt Baruch because Baruch is not in the top 10 league but why you care if you are good enough. I believe only people who believe they are inferior may be in this so called insecurity situation will make such remarks.

My belief is that if you are good enough, then convince someone to hire you even you are not from the top 10. I am sure many graduates from Baruch may be or even smarter than the top 10. The only thing is that do you dare enough to borrow hefty loans to start your journey with a top 10 like Stanford or Harvard even you get admitted. You may be academic excellence but successes count on gut...do you have the balls?

i am so so UNFORTUNATELY not from the two u mentioned.

 

[kean]

i am so so UNFORTUNATELY not from the two u mentioned.

I think people from China know that only the top 10% get into Peking and Tsinghua. This is the main reason why they become targeted schools. It does not mean that other graduates can't get a job if they are good enough like yourself.

Good luck and I hope you find a job from the street.....to prove you are not from the above two will outperform the rest.=D>

 

[Vic_Siqiao]

I think people from China know that only the top 10% get into Peking and Tsinghua. This is the main reason why they become targeted schools. It does not mean that other graduates can't get a job if they are good enough like yourself.

Good luck and I hope you find a job from the street.....to prove you are not from the above two will outperform the rest.=D>

i ranked, and almost all my college mates, in top 0.3% in college entrance exam. Peking and Tsinghua collects top 0.1-0.2%, but not every one.

 

[kean]

Good on you. Frankly speaking, in China or in any part of Asia....I believe even in other part of the world. Academic excellence does not always guarantee success. In particular, China and Asian region do count on who you know and your relationship management. I believe marketing ourselves is very important. I believe only very few can make it through like Christopher Gartner (Pursuit of Happyness). Finance is a money game. Building Fame and celebrity status are very important to help raising fund for your quant or investment models.

Technical skills alone will make good salary only not wealth.

i ranked, and almost all my college mates, in top 0.3% in college entrance exam. Peking and Tsinghua collects top 0.1-0.2%, but not every one.

 

[Andy Nguyen]

This is a good time for financial professionals who are fluent in Chinese, Japanese or other Asian languages.

Why? Consider: Big Japanese banks may pump billions of dollars into struggling Wall Street firms, says the Times of London. The trade deficit with China continues to break records and Chinese markets attract U.S. investors worried about volatile stocks. South Korea's economy continues to be strong, as is Taiwan's.
Though there are openings in the San Francisco area, there also are opportunities in New York from both U.S. and Asian firms. Conversely, there also is a demand for candidates in Asia as well, recruiters say.
"We have had difficulties in the States finding bilingual candidates, but it has gotten better," says Andy Hsu, a manager at recruiter Michael Page International in New York. "The only way we can find quality bilingual candidates is through a lot of referrals."
Though being fluent in Asian languages is a plus, it isn't a necessity to get hired by Asian firms since Japanese and Chinese are among the most difficult languages for native English speakers to learn. Ames Gross, president of Pacific Bridge, a recruiting firm specializing in Asia, points out it takes 10 years to become fluent in Chinese.
But candidates looking to work for Asian firms, or firms doing business there, should familiarize themselves with Asian culture and business customs. "Otherwise, the candidate will not succeed," says Bob Kobayashi, a senior partner with Nosal Partners, LLC., a San Francisco-based recruiting firm.
Working overseas may be the ticket for adventurous types or foreign nationals who want to return home. The appeal is understandable: While the U.S. teeters on the brink of recession, China's economy expanded more than 11 percent for the fourth straight quarter, says Bloomberg News. Japan's economy continues to expand, as well, though growth is moderating.
"When you have this kind of growth, more and more people are interested in working in the industry in China, Hong Kong and Singapore," observes Gross.

http://news.efinancialcareers.com/NEWS_ITEM/newsItemId-12646