Why do quants want to be traders?

[AlbertHo]

Hi,

From my understanding, trader is a highly risky job with bad job security ( and bad skill set?).
And all you need is merely a bachelor's degree in any field to become a trader.

So why do quants want to become traders?

 

[Aaron Wong]

Cha ching cha ching, aint about the ba bling ba bling. Well in this case, for certain people, it is. For others, I guess they enjoy the craziness that goes on in a trader's daily life.

 

[mfegrad]

hah, never thought i'd see a reference like that here

and yeah, dynamite is right: money and perceived prestige. it's absolutely riskier, but people see $$$ and think that's what they have to do, without knowing much about it or knowing if they have the necessary skillset to be successful at it (similar to the reason why we've seen the rise of all the random quant programs).

edit: grammar fix.

 

[JDawg]

the same reasons anyone else would want to become a trader.

 

[AlbertHo]

But if someone has the opportunity to be a trader fresh out of college, why bother do a Phd and then spend several years working as a quant before turning a trader?

 

[Dcai]

For me, trading is attractive because of risk and uncertainty, and the excitement they brings along.
whether you are a prop or flow trader, I believe quant skills can be quite helpful especially if you can trade on your own models that fit you

 

[Anbu]

Not all quants want to be traders. I just want to get into derivatives pricing, mainly because this field interests me. Sure, if an opportunity to become a trader shows up most quants would take it, but I believe trading should not be the goal of someone thinking about getting an MFE/PHD. Quants becoming traders is just something that sometimes happens.

Those people who try to get an MFE/PHD just to become traders and make millions are usually misinformed (IMHO)

 

[JDawg]

I think that most people who get MFE/PHD with intentions of becoming traders are doing so because they weren't able to land an S&T gig straight out of undergrad. Otherwise getting an MFE/PHD would usually be a waste of time (unless you want to become a quant trader).

 

[boneil]

How terrible is the job security really? You're front office, so the exit opportunities aren't bad (unless you really blew it). Obviously there are people out there that reason "me good, trade fast make money good" but I went on a recruting trip for UBS in Stamford, all of the other sophomores there were from brand name schools and seemed intelligible and pretty smart. Nobody there was some state school meathead (no offense state schools, or meatheads).

 

[Tsotne]

Hi,

From my understanding, trader is a highly risky job with bad job security ( and bad skill set?).
And all you need is merely a bachelor's degree in any field to become a trader.

So why do quants want to become traders?

But if someone has the opportunity to be a trader fresh out of college, why bother do a Phd and then spend several years working as a quant before turning a trader?

Having driving license gives you the right to drive a car which doesn't at all mean you are a good driver.

Experience you need - not formality.

 

[DominiConnor]

Having spoken to a good number of Quants, many don't want to be a trader at all.