Quantitative Finance Career Paths

There are a lot of different ways to get into quantitative finance. In this video I cover the main Masters/PhD degrees and where they typically lead you in a career. There are many non-traditional routes. I started in financial engineering and transferred into applied economics with emphasis in financial engineering. Economics is a non-traditional route however it worked well for me.
Best Masters/PhD for Quant Finance:
- Financial Engineering (computational finance, mathematical finance, etc.)
- Statistics
- Mathematics
- Computer Science
- Data Science
Non-Traditional Degrees:
- Engineering
- Econometrics/Economics
- Physics
Finance Career Paths:
• Finance Career Paths
6 Types of Quants:
• 6 Types of Quants
Quant t-shirts, mugs, and hoodies:
teespring.com/stores/fancy-quant
Connect with me:
/ dimitri-bianco
/ dimitribianco
Support this Channel:
/ fancyquant

[@kevinnguyen6233]

Great ! Thanks Dimitri , it's clear to me with Quant finance career paths

[@NeerajBaguant]

Excellent video Dimitri!

[@akshatbhardwaj6181]

Hey thanks man!! I am planning to get a masters in quantitative finance, I have an engineering degree and loads of experience with coding, data and working as a data science but i feel that I am missing that deep understanding of statistics and finance so I shall do this masters to add a boost in my knowledge and CV.

[@dejanmarjanovic3982]

Happy to find my boxes on your diagram: - on the left side (Electrical) Engineering + Computer science - on the right side FinTech (quant developer) Thanks for video.

[@ram_bam]

Thank you for doing these!

[@DimitriBianco]

Happy to help!

[@banemen27]

If I have a bachelor's degree in gender studies and a master in African American history, can I be a quant??

[@liqritrs8391]

Dude you’re gonna be snatched up by Citadel tomorrow!

[@ivoriankoua3916]

dude wtf are you doing here ? this is not History lol!

[@mayavik1034]

Start doing Math, Stat, Programming...then do a self assessment..

[@randallmcgrath9345]

Well youll have good writing skills and some philosophical logic, so thats a start. And that philosophical logic will help you some in Discrete math.

[@zachariyac5036]

😭😭😭

[@ramphillcapital]

HI Dimitri! Amazing content and valuable information. I have a BS in Economics, currently working as an Analyst. I am interested into pursuing a MS in Applied Economics. I am self taught in excel, python, R, sql, and tableau. Do you believe this a good approach to break into the industry as a quant analyst or trader? What do you recommend as a similar route you took? Thank you!

[@zackeryzackery9381]

Thanks for the info. Very informative.

[@udaypatel3006]

Love the video!

[@prod.kashkari3075]

Have been doing machine learning for a months and recently got into tensorflow. I noticed timeseries forecasting and it caught my eye.... I was a data analytics major and econ minor, and yesterday changed my major to statistics Major and double minor in computer science along with my Econ minor... quant finance looks like something I may want to consider.

[@seb6226]

im getting an msba and i am going the finance club with wall street prep courses. do u think I should take any additional courses or should i focus on extensively networking .Overall i need to do to alot more research about the jobs available in PE,VC, and IB. Also do u think these jobs are at a risk of being overtaken by AI, I would assume that AI will eventually be able to perform analysis in many industries far faster then any human. Maybe there will be a mix of ai/human analysts or maybe these jobs will disappear entirely, that's what I learned in the Ai documentary that I watched. Only time will really tell and what ever happens behind the scenes at companies like Microsoft and google.

[@RohitKumar-sw8hu]

Great Video!!!

[@falakoala4579]

I’m ex engineer crossing over doing a master finance /data science. Very useful info here ty

[@DimitriBianco]

No problem! Thanks for the feedback.

[@enc_ale]

Hi Dimitri, greetings from Colombia! You have been a great inspiration for me to become a quant. Recently I dropped out from a Economics and Finance double major because I knew they weren't rigorous enough, which was a very difficult and painful decision. However, despite not being particularly good at math or disciplined, I wanted to have the opportunity again to show myself I can be good at it and you showed it is a virtue to be passionate about something even though very few people know about it and I feel the loneliness and the anxiety, because very few can relate or understand what's going on in my head. Watching your videos somehow make me feel good about myself, feel normal. I was wondering if you could tell me if an Applied Mathematics (because of the focus it has on modelling and computational simulation and economically is the most accesible option for me) major is the best option for me or is it best to study an engineering major. Regardless the choice, I plan to do a Masters Degree in QF, but I want to be the best prepared possible when that time comes, because I'm aware of how extremely challeging it can be. Keep making great videos!

[@DimitriBianco]

Thanks for being a part of the channel and sharing your story! Yes, the scientist/quantitative route can be a lonely road with a lot of internal struggle. I try to convey this struggle subtly in the videos as it is a difficult topic to present in video. I have been hoping this channel would become a group of quants where ideas and difficulties could be shared as we can all relate to each other. As for following applied mathematics, this is a good choice especially if you enjoy it. The strong graduate financial engineering programs like applied mathematics undergrads. I have ran into a few applied math people in my career and they have always been bright.

[@grantr1556]

Update?

[@gustavocooper5760]

Thanks for sharing!

[@doanduzz]

Thanks, Dimitri. Quant funds these days also looking for machine learning candidates

[@DimitriBianco]

Yes, a lot more investment style companies including quant funds have been moving into the machine learning space. Even some of the large banks have been doing so as well but we typically hire stats majors and then have them learn the machine learning part.

[@DimitriBianco]

@And Siq I would focus on statistics while picking on the necessary programming as you go through school and your career.

[@thelilpippin]

Hey Dimitri, what do you think about a bachelors in data science?

[@DimitriBianco]

@@thelilpippin data science can be a good degree. Just make sure to get a solid statistics foundation.

[@allenzhang8261]

Thumbs up for this great video, very compact with info, I wish to know more about the transfer process in detail, it would be great if you can make another video on this. I am a physics undergrad btw.

[@DimitriBianco]

Do you mean transferring between undergrad degrees or between undergrad and graduate school? The process for between undergrad degrees will be unique to your current university. The process of going from a physics undergrad to a quant finance masters/PhD will be based on your application. Schools want to see a quantitative degree (physics meets this) and a strong GPA, GRE, and statement of purpose (SOP). Graduate programs want students to be successful after their program. The SOP should answer the question, why did you leave physics in pursuit of quantitative finance?

[@CrysisW]

Hi Dimitri, thank you for the great videos! What is your opinion on Fintech Bootcamps, like the one in Columbia university?

[@dushyantraj7191]

Hi! I am currently studying my bachelors in Computer Science and Engineering, personally have a strong grasp on the maths and programming side that is required for a masters program. I have two questions, 1. How should i improve my statistics(have only had 1 course in college) and finance (no prior knowlegde) that would help me in my masters and career in general in Quant 2.What masters degree would you suggest in my case?

[@XxVidMakerxX]

Great video as always Dmitri! For someone who’s going to get a MFE degree, is the best way to explore areas within possible roles an internship? Or perhaps develop a passion in coursework? I’m unsure which area sounds appealing but I haven’t started my coursework yet! Moreover I always see people on quantnet for example glorify all and any front office roles, is this just because of the pay?

[@DimitriBianco]

For front office jobs, yes it is solely based on pay and driven by the alpha male personalities. I would be considered back office in risk management however I love the job. The pay is really good (but lower than front office) and I can live in cheaper cities than NYC, I can work from home, low stress for the most part, and I can work on deeper problems because I have more time. The best way to explore areas is to intern at different jobs, talk to a lot of industry professionals, and figure out what skills you like the best and see how they match different jobs. I never thought I would work in risk management and most grad programs don't quite understand what risk professionals do. In grad school we had a CRO come in our risk class and talk to us. All he talked about was high level risk measures including VaR and expected shortfall. I don't use either of these in my daily job. In my area of risk it's all about statistics which I didn't discover I liked until I got a job doing it.

[@XxVidMakerxX]

Dimitri Bianco You’re awesome Dmitri! Thank you for the advice and insight.

[@michaelbowen3351]

Good video. Feedback, keep graphics up more while explaining them. Seeing you adds an additional element but not if the graphic is gone.

[@DimitriBianco]

I'll take that into consideration for future videos.

[@jonathanlam4994]

Damn, this is super helpful. I'm a computer science undergrad in my final year here in the UK, and really want to get into the world of quant. I've gotten offers for the University of Edinburgh's Advanced Technology for Financial Computing MSc, Financial Technology with Data Science from Bristol and currently waiting for UCL to get back to me. I've opted for more courses that are computer science-related, just because obviously that's my background and I do really enjoy that too. I'm a US citizen, and kind of want to go back to the states its really quite interesting to see how things are there. Universities in the UK at least have only started doing Computational Finance related MSc programs i.e. the first type you've mentioned, are they particularly common in the US?

[@DimitriBianco]

There are over 30 programs in the US and new ones pop up every year. CMU for example started their program in 1994.

[@datakristen8500]

Great video, thanks! I have an MBA and an MS in data science. Trying to see how to merge the two in finance.

[@DimitriBianco]

There are days science jobs at banks and other finance firms these days. I would look into that.

[@datakristen8500]

@@DimitriBianco will do, thank you!

[@fazioyuri]

Hi Dimitri, In your opinion, which programming language is used in quantitative risk management R or Python?

[@brcey]

I believe R is most common

[@poytiolas]

Hello Dimitri! The video was great, very informative. I'm currently studying Computer Science but I'm very interested in computational finance. I read books on mathematical finance, I'm building a software which models financial instruments. Do you think that if I pursue a MSc. in Financial Mathematics I would be able to work as a quant researcher given that I have a solid background in programming or I'm only able to get a job as quant dev? Thanks in advance!

[@DimitriBianco]

Your background sounds very good for moving into financial mathematics. You might fit well with a program such as Baruch's MFE as they have a bit more focus on the programming of financial mathematics.

[@piby1802]

I would be very interested to know about the prospects and scene of building your own startup as a Quant.

[@DimitriBianco]

I'd have to do some digging around this as there are not a lot of quant start-ups. In finance it is usually more beneficial to be large so start-ups aren't as common as in other fields such as tech.

[@randallmcgrath9345]

Yes. Math mahors are like the Jack of All Trades in A way. But only if they include specific skills. Fortunately, they are required to learn coding at least. I would say do Applied Math, which often requires or has built in minors that make it more marketeable. Edit: even pure/theoretical math majors dtill have to take computer science 1 and also usually discrete math which introduces algorithms anyhow. Also as to math minors many departments will have a list of minors you can choose from. But that doesnt mean an argument cant be made for a different minor, but at the same time, awareness of how math is useful outside of STEM is still increasing, since Economics is considered a social science, even though it definitely uses Linear Algebra, Calculus, Probabilty theory in congruence with Measure Theory(which applies to more than Econ), and sometimes, people in finance and Econ do apparently use Real Analysis. And on a side note, physicists, engineers, and computer science people also find plenty fo practical applications for Real and Complex Analysis, as well as classes labeled "functional" or "Harmonic" analysis. I have come to learn sifferent schools organize and label things differently, so these class separwtions and labels need kot lead the believer to think they are a wholly separate subject, when theyre moreso a specialization. Arizona State, for example, has the research Group "Analysis and PDE" as "functional, Real, Complex, Harmonic," and other sublabels are all included, technically speaking. But to be fair, I havent finished any degree yet, just researching ahead of time so I am certain of my major by the time I transfer from community college. I have finally settled on Electrical Engineering. Because its practical, and yet EM theory allows plenty of math and abstraction. Plus adding a second major in math may only require an extra semester as well.

[@bayobayo3225]

Nice piece of information please l need information on data science and qualitative finance

[@DimitriBianco]

Data science has fallen under quant finance. For traditional finance, take a look at the video below. kzbin.info/www/bejne/m4myYnl8id-jqqM

[@tanmaygupta790]

great like i have a undergrad degree in cs and completed my cfa thinking to go for ms in statistics to get into quantative finance whats your sugesstion bro?

[@acqueprofonde2013]

Great content provider. What would you suggest to someone who has a Bachlelor's in Maths is taking a Master's in Finance and has now finally decided to take the quant path? Take another Master in Financial Engineering?

[@DimitriBianco]

It depends on where you want to work. In the US it's really competitive so you would need to get a quantitative masters at a minimum (there are a lot of PhDs in the industry). If you are working outside of the US, there are a lot of countries where it isn't as competitive and in those situations you should be able to find a quant type of job with your finance masters.

[@acqueprofonde2013]

@@DimitriBianco I see. Thank you very much for your precious advices and congrats again for the channel. It came suddenly as a lighthouse in the dark.

[@alirezaghanbarzadeh1679]

Thank Dimitri, nice video! what books do you recommend for a data science grad who wants to apply machine learning to financial time series forecasting, portfolio management, ML in investment,...?

[@DimitriBianco]

There really aren't any books specifically for time-series using data science for finance. Understanding the basic time-series concepts would be beneficial as they apply to statistics and data science. If you aren't watching my time-series videos you should as they will give you the basic ideas. So far I have not seen any big success stories of using data science for time-series. LSTM requires a lot of stable data but this is rare in finance.

[@DimitriBianco]

There really aren't any books specifically for time-series using data science for finance. Understanding the basic time-series concepts would be beneficial as they apply to statistics and data science. If you aren't watching my time-series videos you should as they will give you the basic ideas. So far I have not seen any big success stories of using data science for time-series. LSTM requires a lot of stable data but this is rare in finance.

[@Jay-xb5du]

Hi great video! Just a question, is a highly quantitative undergrad in Economics & Statistics adequate enough to do an MFE? Thanks

[@DimitriBianco]

Yes. Keep in mind different mfe programs have difference preferences and requirements though.

[@Jay-xb5du]

@@DimitriBianco thank you for your response

[@jessefreitag5374]

Great video Dimitri! Graduating with a BS in Applied Math & Stats from Stony Brook in December and looking at MS in either Statistics/ Financial Engineering down South. I came across UMiami’s Mathematical Finance program and it appears strong to me compared to other programs, but a quantnet post calls it another “me - too” program. I am wondering if you have thoughts, if any on it. Any feedback is greatly appreciated! You have been really helpful in the past

[@DimitriBianco]

I understand why people are saying it is a "me too" program. The program seems to be new and is trying to cover the basic topics which is good but the question remains how do they differentiate themselves from other programs. I also found it odd that PDE 1 and 2 are electives as many programs especially those in math departments assume students have that knowledge before starting a math based program. The program could be used to check the box on having the masters and you should be able to learn many of the basics however getting an industry perspective and career services might not be very good. Being located close to the financial industry or having a solid reputation (which takes time to build) are valuable when looking for work after a masters.

[@withthewang6202]

Hey Jesse I also plan to go to Stony Brook for Applied Mathematic & Statistics this fall I was really curious if you had advice or anything like that

[@jessefreitag5374]

@@withthewang6202 Hi! Yes I can tell you a lot about the program. If you would like to discuss, you can connect with me on LinkedIn and we can message each other from there

[@mayavik1034]

Stony Brook.... Jim Simons...good school..

[@mewpoopoo]

That’s a very informative video. I am graduating from a phd program in electrical engineering. I have a decent math background and some programming skills, but have no background on finance and banking. What are the kind of skill sets that I should pick up?

[@DimitriBianco]

I would get the book called, "The Volatility Smile" by Emanuel Derman. It gives some good insight to quantitative finance as an industry as well as providing information on finance from a high level (big picture).

[@sukwini684]

Hey Dimitri, Tried following you on twitter but was unable to DM. I'm doing my final year (undergrad) of my degree: BCom in Mathematical Statistics and Finance, and I think the most obvious choices for me would be the Statistics related ones, right? Or what other possible career paths could I follow? I absolutely love your content by the way!

[@DimitriBianco]

If you're in the US you'll need to go for a masters or phd. Statistics is one of my favorite paths as it opens a lot of opportunities in quant finance as well as other industries. If you have taken enough statistics classes this would be a good path given your background.

[@sukwini684]

@@DimitriBianco Thank you very much, I am actually in South Africa. Does that change anything?

[@sukwini684]

Which industries does Statistics open opportunities in other than QuantFinance?

[@DimitriBianco]

@@sukwini684 tech and marketing are the big ones. I'll have a guest on the podcast in a few months that has a statistics background and has worked in a variety of industries including medical and academic research.

[@DimitriBianco]

@@sukwini684 I'm not too familiar with South Africa but many countries that aren't in Europe or aren't the US have lower standards meaning you might not need a graduate degree. However there also aren't many quant jobs in other countries.

[@bfh529]

Hi, I have a math PhD, but it's all pure and not applied. I didn't consider the possibility of becoming a quant until long after I graduated. Would you recommend, at this point, that I try to pick up the most relevant applied math on the side? I already have experience with Calculus, Linear Algebra, ODEs, a bit of PDEs. I could probably pick up a text on Stochastic Calculus, learn about Markov processes, etc. Would that help land me a job in quant finance, do you think? Also, I notice from the LinkedIn profile you shared about yourself that you spent some time at BYU-I and as a Disc Jockey for its church. I got all my educational degrees at BYU. Are you a member too?

[@DimitriBianco]

The PhD in pure math should help you land a job but the key will be how you market yourself. If you are wanting to get into the derivatives realm then I would pick you Steven Shreve's two books. If you are interested in general quantitative finance then I would read Carmona's book. The readings will help prepare you for interviews and they will indicate what skills you should highlight on your resume. Having a rigorous PhD with a list of relevant skills should be enough to break in. Affiliate book links: Shreve: amzn.to/2G2HB1K amzn.to/2I1crdy Carmona: amzn.to/2UisOsp As for BYU, I was raised Mormon but am no longer active.

[@arewenotsenal]

What do you think about quantitative roles in fintech firms likw Murex, Calypso, Sungard/FIS and FINCAD,. These firms are major vendors of Risk analytics and pricing software.

[@DimitriBianco]

FinTech companies do have a few quant positions. These jobs seem very interesting given they are providing new solutions to old problems using more creative methods. However a lot of FinTech is made up of software engineers. There is nothing wrong with being a software engineer however they aren't quants.

[@alexbenanti5125]

Hey great video! I was just wondering if I’m planning on getting a masters in statistics what jobs/internships should I get beforehand in order to compete with the PhDs? Also should I consider doing a PhD if I’m not considering academia (at least at the moment). And finally should I get a job before my masters or get my masters right out of undergrad. Thank you and again great video!

[@DimitriBianco]

PhDs are for those who really love doing research and don't mind spending 5-7 years in deep theory. Masters can provide a rigorous background in a shorter time but you will be lacking the research side. There are a lot of quants with PhDs who never thought about going the academic route. The Masters is shorter in time but more expensive in money and the Masters is a bit riskier on finding a quant finance job compared to the PhD. Most quants who get a Masters or PhD go straight from undergrad to graduate school.

[@alexbenanti5125]

Dimitri Bianco thank you!

[@1aaroncarl]

dimitri i just wanna say i love u

[@rahulthebitsian]

Hi Dimitri, Thanks for the informative video. It is very helpful. I am a Chemical Engineering grad with a Masters degree in Economics. I have been working in banking industry (Prudent Valuation function also known as Independent Price Verification) since last 4 years. I am currently pursuing Certificate in Quantitative Finance (offered by Fitch learning). I will also be joining a post grad course in Data Science next month. Can you please help me with the specific positions in Quant Finance, that are a sweet spot/intersection of Quant finance and data science skills? Also, do you think having full working proficiency of both Finance and Data science gives an edge to a potential quant candidate. Thanks in advance for your time.

[@DimitriBianco]

The intersection of quantitative finance and data science right now lies in investment companies who are looking to utilize data science methods. As for banking AML (anti-money laundering) detection uses machine learning and quantitative finance. Capital One is also a leader in the finance and machine learning area.

[@rahulthebitsian]

Dimitri Bianco Thanks a lot for your valuable insight on this.

[@ranjitpuri2283]

Hey Dimitri, thanks for your amazing video. Great information and awesome insights into various finance jobs. I did my bachelors in finance specialist and economics from Monash uni Australia. However, I realized through my degree that finance jobs these days and in the future will demand a great bit of computing skills. I learned VBA and have sort of become a power user in excel. I would like your advice and thoughts on pursuing a masters program in business information system because I believe it would add great value to my finance degree and help me up skill as well. What are you thoughts?

[@DimitriBianco]

If you are interested in working with business systems then this could be a good option. With a finance undergrad it should also make it easier to work with information systems at a bank. It would be difficult to move into quant finance (at least in the US) with a business information masters. Quants do work with data engineers (people that manage the systems and data) however the skills for this would line up with a business information masters and not a quant finance masters. The people I work with on the systems and data side do enjoy their work however their specialty is more systems and data, and less math and statistics.

[@ranjitpuri2283]

Dimitri Bianco thanks for your honest advice. :)

[@Lily108y]

@@DimitriBiancohi I’m planning to do financial mathematics and economics program would this program be good if h want to get a deeper knowledge for higher level finance jobs

[@joeblack8229]

Dimitry, Would you mind going into more detail on why beginning with engineering then continuing with a masters in financial engineering would be make for a difficult road to finding a job versus some of the other path's you mentioned? Thanks ahead of time.

[@DimitriBianco]

Going from an engineering undergrad to a financial engineering masters is very common and a good route. In this video I skip the undergrad details as there are a lot of degrees that can lead you to a masters/PhD. If you were to go from an engineering masters to the industry though, it is very challenging.

[@joeblack8229]

Dimitri Bianco Got it, thanks for the clarification and the quick response I appreciate it

[@calebuic4310]

What do you think of UChicago’s Financial Mathematics Program?

[@erikaz6934]

Hi, could you give me some ideas that what related jobs I can do if I only get the bachelor degree in "Statistics and Quantitative Modeling"??

[@DimitriBianco]

For quant finance it is almost unheard of BUT I'll list some jobs that you might find interesting and can work at with a bachelors in Statistics. For banking you can do credit risk modeling (typically done by finance majors), investment analytics at a traditional finance firm (hedge fund, private equity, investment banking, or mutual fund however these jobs are hard to get), or operational research at a bank (these are the people who look at data and direct the banks on strategy). You can also work in the tech industry doing statistical modeling (I'm not sure what their minimum education requirement is though but I'm guessing a bachelors would work in some areas), business analytics for almost any industry, actuarial sciences if you work at an insurance firm who will help you with exams however I have heard it is nearly impossible to get these jobs if you are not a US citizen. Statistics is useful in many areas. If you search only for statistics jobs I am sure you can find a much longer list to add to my list above.

[@vikrambharadwaj6349]

Hi Dimitri, Thanks for this very informative video. I am a computer science undergrad, who has recently gotten into the field of finance. I am currently enrolled in Data Analytics Engineering master's degree at the Northeastern University at Boston. I have an option to pursue ML and statistics course in my degree. What kind of independent projects will help me stand out while applying to a position like quantitative analyst at top firms? Thanks in advance!

[@DimitriBianco]

Any project that builds a model. Be able to explain why you selected that specific model and all tests conducted. Quant finance wants to see people who understand modeling very well. Don't just got a bunch of models and select one, you need data justification.

[@vikrambharadwaj6349]

@@DimitriBianco Thank you for the reply. Any project that builds a model as in? I am really new to finance in general. If you can explain it a bit further it would be really helpful for me :) Thank you once again.

[@Paivren]

You said that statistics is very useful for algorithmic trading in hedge funds or risk management in banks. Do banks also apply algorithmic trading? And do hedge funds also have significant risk management? I can choose between two PhD programmes: 1) combination of statistics, data science and machine learning 2) techniques for forecasting I wonder to what kind of quant roles they lead (risk management vs algo trading, buy side vs sell side) or if there even is a difference.

[@DimitriBianco]

The big difference is what the firms can and can't do. Hedge funds use minimum regulation and focus on making money for their clients and themselves. Banks have a lot of regulations and no longer can do proprietary trading. The regulations effects strategy and the end goal. Hedge funds pay more, are harder to get a job at, and go bankrupt far more frequently than banks. Everything that is a model is math and/or statistics. This applies to every industry. For selecting a PhD, it depends on what you want to do and what each program covers. Different financial products require different types of statistics. Not all finance uses time series and even the models within time series are unique.

[@christopherrobinson1270]

Thanks so much for this Dimitri. I am currently in a Financial Technology BootCamp and have a Bachelors in Pre-Med and Chemistry. Along with the Bootcamp I am studying for the GRE to apply for a Masters in Financial Engineering and taking a Calculus 2 class. I only had to take up to Cal 1. But my question basically is, what type of jobs would you recommend to enter into the finance world while at the same type helping in my direction toward a role as a Quant?

[@DimitriBianco]

That's a challenging question because there aren't really jobs for undergrads. I would search for jobs that focus on statistics as this would give you a strong foundation. Take a look at this video for stats jobs. kzbin.info/www/bejne/aoaooXxsmNhoaJo

[@christopherrobinson1270]

@@DimitriBianco Thank you so much for responding. I will check it out now.

[@steplikesteph]

Extremely informative. I have a chemical engineering major, and data science minor and have done a bunch of machine learning projects, I want to pursue financial engg and risk management, is it a good idea?!

[@DimitriBianco]

If you enjoy working with statistics, math, and computer science then I think it is a rewarding career. A lot of engineering undergrads go on to get quantitative finance masters.

[@zhenleideng1594]

Hi Dimitri! Thanks for this video. It's very clear. But I have further specific questions for my career path. I have just graduated from undergraduate with double majors(applied math, econ), and I am applying for some master's programs in operational research. Since the program involves both math and stats knowledge, I am curious about which quants I could do after graduate school.

[@DimitriBianco]

If you develop a strong enough background in the skills desired for a job, it's possible to work in quant finance with an Operations Research Masters. If you have a strong statistics background, you could end up in risk management (model development or model validation). If you have a strong programming background (though this is usually filled by CS students) you can work in implementation. Those with a strong math background (must include stochastic calculus) can work with derivative pricing. From this video you would most likely end up in any position but implementation. It can be challenging with a masters degree that is not focused on financial applications though but it's possible.

[@zhenleideng1594]

Dimitri Bianco Thank you!

[@lukeallan6486]

Which one is the best all around underground and also masters for investment jobs?

[@naveedali1406]

what are your thoughts on someone with ACCA and an online bachelor in CS, doing (real university) conventional masters in CS, and going into fintech

[@basirbeyamin3423]

Would Actuarial Science as an undergrad help prepare someone for a Masters in Financial Engineering/Quantitative Finance/Computational Finance/Mathematical Finance? Maybe double Majoring in Actuarial Science & Data Science?

[@Dev3083]

Hello Dimitri , been following your vlogs pretty regularly, can you tell me how useful is a MSc in quant economics degree for working in risk management, it has modules on programming ( python , R etc) and econometrics and advanced macro and microeconomics,I have a mech Engg , degree but currently working in retail banking , wish to move into meatier roles in risk management than retail banking offers !! TIA

[@DimitriBianco]

As long as you get a strong background in statistics, you'll be prepared for risk management.

[@josuemiamire]

Dimitri, what to do if you don’t go to a target school? Would having the highest certification in excel help?

[@DimitriBianco]

For quantitative finance...you need a masters or PhD. Excel is used a lot in finance but not quantitative finance. Most quants cringe if they are required to use Excel. If you are in traditional finance and can't find a job I would consider going back to school for an MBA however many will require two years of work experience. Where you work for two years won't matter though. Another route would be to get a masters in your actual field for example finance. A cheaper route is spending more time writing a resume that matches what companies want to hire. For big name companies you'll need to the school name though. If you are interested in traditional finance I would encourage you to watch the video linked below. kzbin.info/www/bejne/m4myYnl8id-jqqM

[@josuemiamire]

Dimitri Bianco thanks!

[@noway4715]

Hi very nice video. One question- I’m in engineering but specialize in AI and data mining so no way to work as a Quant in the finance industry? Thank you

[@DimitriBianco]

From a US perspective, it is possible given you have at least a Masters.

[@chengpeng7791]

very informative. see some other categories like front office, mid office and buy side, sell side. Could you tell me the relation between the six kinds in the video and the “side” and “office” categories? like, do buy side firms have all the six kinds of quant? Are front desk quant jobs rarer and harder to get?

[@DimitriBianco]

Sides: Buy side are firms looking to buy assets for investment purposes. These would be asset management companies (including banks) and hedge funds. Some examples would be someone who invests money for retirement plans (wealth management - Bank of America, Wells Fargo, Fidelity, Charles Schwab) and wealthy individuals (hedge funds - 2 Sigma, AQR, DE Shaw). Sell side are firms looking to create products or services which are sold to the buy side. These would be investment banks, commercial banks, and market makers. Some examples would be those who engineer derivative products, create ETFs, issue loans/bonds, and investment banking. Office: Everyone seems to try and work in front office because the pay is higher. This trend of higher pay is slowly going away as quantitative finance is more of a team activity. I would be considered back office and I love my job. The stress is lower and the pay is still really good. I am able to have a life outside of work. Front office/desk quants are those who use the model's to make decisions. These exist mainly on the buy side however you could consider investment banking front office BUT these areas don't have very many quants as they rely on traditional finance. Jobs like market making (sell side) used to have traders however this job is mainly automated now due to better technology. Model Development/Validation/Research Quants are in both buy and sell side. Companies are always trying to create new strategies (research quant) for buying and selling products at better prices. Development and validation quants can be found in hedge funds and banks on both the buy and sell side. Models are needed to do almost anything in finance these days. Stats Arbitrage and Capital Quants can really be wrapped into the Development Quant role. They build models just like development quants however the focus is on statistical arbitrage and capital regulatory requirements. Stats arbitrage quants would be more on the buy side (hedge funds). Capital quants could be on both sides. Capital requirements are important for derivative contracts which would be on the buy side. Banks (investment and commercial) that are large have to follow federal and global regulations on capital holdings which would be on the sell side.

[@chengpeng7791]

I cannot thank you too much for your reply! This really gives me a panorama of quant positions. Best answer I can find.

[@caseylee792]

Hello, I'm an undergrad with 3 semesters left from graduation, and I'm committed to undergrad degree that is not even remotely related to the field of finances(I'm a literature major). And, beacause of university regulations and stuffs, I'm not in a position where I could switch to a different major. However, my interests have changed over the years and now I am considering a career in quantitative finances. Do you think it would be unrealistic for somebody without a degree in any of the relevant fields to pursue a such career-path?

[@DimitriBianco]

My first questions would be why do you want to go into quant finance instead of traditional finance? You're in a really bad spot if you want to get into quant finance as you would need a quantitative masters and to get that you usually need a quantitative undergrad. Finance is never a requirement for quant finance though. Your chances of getting into traditional finance would be much better as they only require smart people and can teach you finance and Excel.

[@cuthbertngwira1365]

Hello Dimitri! So I have an accounting background and hold a CA qualification. I am presently stuck at a crossroads between a masters in Finance and Financial risk Management. I'm sure I will more or less breeze through the masters in finance as I've done quite a bit of it at undergrad and during my professional qualification (ACCA). However, I'm pretty sure the masters in FRM will be quite a challenge because of all the maths involved. Having worked in both fields (corporate finance and risk management), which one is more lucrative and relatively flexible (work and life balance)?

[@Isaiah_McIntosh]

Corporate finance is more lucrative generally. Front end roles at lucrative financial bodies may be more lucrative than most traditional finance roles but they don't make up the bulk of quant finance practioners. The work life balance of a quant finance role can vary greatly depending on your role. If you are a front end quant in a hedge fund for example you will work 50-60 hours at the job often. Whereas someone in risk like dimitri currently is works normally about 40-45 hours a week and frequently works from home around 2-3 days a week. The skillet and preferences of finance vs quant finance varies greatly however. If you enjoy and want to study math and programming then you should study quant finance because generic finance probably won't be what you enjoy. This answer is solely based off information from dimitri's videos. He would be able to expand on this much better so I would recommend you to look to his other videos. Sorry if this is an unwanted answer as I'm not dimitri but this is a pretty old video not sure if he would respond still.

[@DimitriBianco]

The compensation and work life balance should be similar for risk but as @Isaiah Mc Intosh pointed out other quant roles will be different. If you enjoy statistics and programming go into risk management. If you enjoy finance then go with the finance masters. You will hardly use any of your finance knowledge in risk management. It's mainly statistics.

[@DimitriBianco]

Thanks for helping out with comments. You're answer was great!

[@rockingvideotutorialshd1671]

Hey Dmitri, will doing economics and finance double major in undergraduate get me into a Masters in QF programme in a top university? I’m just asking if my undergrad degree would put me in a disadvantage as it might not be as quantitatively rigorous as engineering degrees

[@DimitriBianco]

You will be at a disadvantage compared to others who have engineering, math, and statistics degrees.

[@bolufakayode5528]

Dimitri Bianco what if you were to take numerous math classes within your degree. like all the calc sequence, linear Algebra and stats. I plan to do a double major in Econ and finance but at the same time I’m incorporating all the math I’ll need. Even if I have stellar grades in those course will I still be in a disadvantage.

[@andresrossi9]

I think data science is just a new rebrand of statistics degree... The fact is that you don't do computer science very deep and you don't do stats very deep. I think a very broad combination by the way can be undergraduate in Computer science and master in stats, in order to be competitive with both skills. Another great combo for the Quant job can be bachelor's in maths + financial engineering msc! I'd be curious to know what someone could do with actuarial science msc other than being an actuary or join risk management

[@DimitriBianco]

It might surprise many people that I have only come across one person with an actuary degree in risk management. That person had an undergrad in actuarial sciences but they were hired because they had a masters in statistics. Risk management is a job title for a variety of positions in different companies. I'm sure there is a risk management area in insurance companies and these are filled primarily by actuaries. As for banking....an actuary degree might not get you very far in risk or trading. Don't be fooled by other channels telling you actuaries study financial engineering in depth. They cover the basics and move on where financial engineers spend two years of in depth study on financial engineering exclusively.

[@andresrossi9]

Dimitri Bianco yes I knew that, in my university I compared that courses and while actuarial science covers Quant finance side with only hull's lectures, the Quantitative Finance degree goes much deeper with stochastic process (not required in actuarial) and sherve's books. On the other side actuarial science is broader and goes deeper with mathematics combined with probability for the actualization of future events exposed to risk, and keeps an eye on economics and demographics too. Of course there's risk management on insurance too and actuaries are important there. But I've seen that they can also specialize in investment banking, so that's what I meant

[@kodyfischer8978]

Hi Dimitri, I've been watching your videos for sometimes now and they have been very informative and insightful. As a recent Maths & Actuarial Science graduate, I am going to start working as a junior actuary later this year. During my degree, I have always found investment risk more interesting than mortality risk and therefore, I have applied to many risk management roles in different banks but didn't get very far. I would like to ask that in your opinions, what are the defining skill gaps between a pension/investment actuary and a risk manager working in quant finance? And how to bridge those gaps in order for me to break into this industry? Thanks

[@DimitriBianco]

To start off, thanks for watching my videos! To answer the question why you didn't get very far has a few parts. Risk management and banking/investments is very competitive. Regardless of your education it is hard to get into risk management and quantitative finance as a whole. As for an education gap that really depends on the type of risk roles you are applying for. If you have an undergraduate degree a Credit Risk Analyst would be the most popular risk position however these are typically filled by finance/business students. Why do they typically hire finance and business students? It's because these jobs are usually Excel/SQL focused and require an education around fixed income products. Other risk positions such as a risk officer at a bank requires at minimum a masters degree. These jobs can be filled by a variety of backgrounds from statistics, mathematics, data science, actuarial sciences, financial engineering, or other. However the majority of these roles are filled by statistics students. The reason is because risk management is very focused on statistical models. Depending on the department in risk management (credit, market, operational, or PPNR) different students are preferred. For example, market risk prefers financial engineers, econometric, and statistics with a focus in time-series whereas credit risk prefers parametric statisticians. And finally for quantitative investment funds such as Citadel or Two Sigmas, they prefer math/stats PhDs and financial engineering masters. The reason they prefer PhDs is because the strategies they are implementing need creativity in the area of finance and math/stats theories. They have to create new connections between ideas which is better suited for someone who has done research. There is also an education gap as you mentioned. I don't think the gap is so large that you couldn't get a job with the right degree (undergrad, masters, or PhD) however it is a lot easier for companies to hire someone with a degree that is tailored to the position. For example, if you are going to be doing statistics in risk management I would want to hire someone who spent their time focused only on statistics for two years in a masters program and not someone who took two years of statistics, life insurance, property/casualty insurance, and pensions. If you really want to work in risk management don't give up! Network with people in the industry and learn more about different types of risk management. A lot of times who you know matters more than what you know.

[@kodyfischer8978]

Thanks Dimitri for the useful advice, I will certainly take note of the points you've mentioned and reach out to others who are experienced in both fields and explore their perspectives & views. Thanks again!

[@isaacsimbana2759]

Hey dimitri.. i am undergraduate student in traditional finance. As i went through this program I realized I wanted more hardskills. I think I have good mathematical and computational skills so how should I proced from here? I was going to do a traditional finance masters where i get some machine learning but i fear it might not be enough. What route should i take to become a quant? Start again with a math undergrad program?

[@DimitriBianco]

I would look into a business based quant finance masters (many business schools have quant masters). The materials are typically less rigorous however it can be a great option to get the degree, learn a lot, and get a job.

[@thunderingtuber2179]

@@DimitriBianco Have you heard of the Masters In Quantitative Finance at Texas A&M? Im a freshman finance major at A&M in the same boat debating dropping finance and picking up something more rigorous and quantitative.

[@matthewmoses4491]

Would you recommend going to graduate school to pursue a masters in quantitative finance directly after graduating undergraduate university or get work experience before and why? If you suggest work experience, what would you suggest as to jobs to apply to in the time being.

[@DimitriBianco]

Here is a video on that topic. The short answer is to go straight for the masters. kzbin.info/www/bejne/oGacoWt7aNKCrNk

[@trav9887]

Your activity in the comments gives me hope this will get answered. Is there room at the table for a finance major with a minor in math? Or should i flip the two to really be on the path?

[@DimitriBianco]

Realistically, no. I would flip the major to math. Finance just doesn't teach enough hard skills to be useful.

[@randombossgamer1175]

I’m currently planning to do a bachelors in computer science with an emphasis on machine learning. Do you think a masters in financial engineering or a masters in computer science is more suitable for becoming a quant? Also, you said around 70% of your colleagues could not break into the market. Is it possible to become a software engineer with a financial engineering masters if I can’t land a quant job?

[@DimitriBianco]

It depends what you want to do after school. If you want to code for a trading firm then a CS masters would be good however you would be a computer scientist at a trading firm not a quant. If you are wanting to build models and do research then a financial engineering degree would be better. With a CS undergrad you can always fall back to working as a software engineer.

[@youngknight65]

Would a masters in Data Science, Artificial Intelligence or Computer Science land you a job as Quant Developer, coupled with some Statistics modules?

[@DimitriBianco]

It's possible if they are looking for a data scientist.

[@user-qy2eg9hm3g]

hey dimitri Im currently an undergraduate student studying mathematics & comp sci, if i plan to do an mfe would it mean that i’ll be locked research/risk management side? I’d personally want be a quant dev/fintech sector

[@DimitriBianco]

You would want to research masters and choose a program like Baruch that focuses more on the programming side.

[@Wild4lon]

If I get a physics degree from a very good university and have had experience working with computer models/ can code very well/ know machine learning, would there be a fighting chance for a good quant job in the current market? Also someone told me to check out kaggle, might do that at some point

[@DimitriBianco]

Yes as long as you interview well and highlight the skills for the position you are applying for.

[@dylanhallahan4633]

man an econ degree sounds really useful for this type of work. You have to take a ton of math and stats. I also feel like econometrics would be useful. You also usually have to learn R and Python

[@DimitriBianco]

I actually have an applied economics masters.

[@cunningham.s_law]

what kind of different companies hire in this sector? what does the application process look like?

[@DimitriBianco]

Quant finance in itself isn't an industry but parts of different industries. For example, banks are mainly made up of business people but there are areas such as risk management, operational research, and pricing where you can find quants. Some examples of companies could be Citi, Bank of America, Goldman Sachs, Citadel, Renaissance, Two Sigmas, Capital One, etc. Note that some of these companies are banks, some are financial services, and some are hedge funds. The application process varies a lot depending on which type of firm (bank, investment, trading, financial services) you are working for and the position. For risk management we look for statistics backgrounds. You either apply online or know someone in the industry who passes your resume. Next you would interview with HR. If you pass that you would interview with a handful of team members and they would discuss who they liked. The hiring manager would make the final decision. Questions in this process can be anything but for risk management they would focus around specific types of risk and models. For example, what is stationarity and where is it required? Why do you need normality in the residuals? Can you explain how KS is used? For other positions like trading they usually have a similar process of an online application, HR, hiring manager and team member interviews. Their questions will be very different than risk. They may have you do an IQ style test which is timed online. Traders need to be quick on their feet so they have you take these types of tests. They might also ask you to pitch a stock that you would invest in. For high end quant research they might ask you what the boost library is, what are smart pointers, if volatility increases what happens to the price of a long call, what's the difference between an American Call and a European Call, etc.

[@omarrozay6361]

Hey dimitri,Im from the UK, and I have recently recieved an undergrad in physics, I was wondering whether I should pursue a masters in: Financial Mathematics or Financial engineering, what are the differences in career options/salary in quantitive finance?

[@DimitriBianco]

Financial Mathematics is the same as Financial Engineering. Some schools have the program as part of the math department so they like to have Mathematics in the name while others are in the engineering department and like to have Engineering in the name. When looking for a program you'll want to have more rigorous class. Avoid programs with a lot of traditional finance and business.

[@-es2bf]

Got a msc in maths and some cs under my belt. Real life experience with data analysis. I am interviewing for a risk analyst/data analyst utilizing sas. Is this a career suicide?

[@Artisticvisionstoliveby]

I have a bachelors in accounting and finance and some credits towards a masters in finance and accounting, im starting a new bachelors in CS to get int9 quant, i also got an offer for a non quant masters in data science, which one would you suggest?

[@mohamedshehata8957]

I'm wondering between taking financial engineering or applied economics, I want to target the investment world? Can you help me

[@DimitriBianco]

Financial engineering is a more direct path. I actually have an applied economics masters however there aren't many of us in the industry and I did my electives in financial engineering.

[@chengpeng7791]

How about further development in each path? Do management position prefer front desk experience? Many thanks!

[@DimitriBianco]

This is a really good question. The management path is mainly defined by your soft skills. It is important to understand your area of work (development vs validation vs front office) but those who get promoted into management are people who communicate well and have good time management and organizational skills. As you move up the management chain you'll be responsible for more topic/areas so it is important to be able to understand the business at a high level. If you think about a CEO for example, they will be managing everything from quants to HR to marketing. They will need great employees in every department to help make detailed decisions however they drive the strategy for the entire business and need to consider all of the departments.

[@chengpeng7791]

seems like it requires a lot of business acumen. Is it that there is equal opportunity for all types of quant and non-quant when it comes to management position?

[@aronbhalla3279]

If you get a bachelors degree in Maths and Statistics, would you recommend getting a masters in Maths and Statistics or would it be better to go for Financial engineering instead of doing maths and stats for both?

[@DimitriBianco]

Doing one masters should be enough regardless of which one you choose. If you are wanting to work with derivative products specifically, I would go with the financial engineering masters. If you are wanting to work in quantitative finance but not specifically derivative products, I would do either the statistics or financial engineering masters. Most quant hedge funds do statistical arbitrage to make money so a statistics degree is helpful. I work on the banking side in risk management and about 90% of my job is doing statistics (it's just applied to finance). If you are willing to put in the time and enjoy learning, a PhD would be another option. It takes more time but if you're a top student you should be able to go for free. PhDs are desired by much of the industry and are almost required for quant research jobs.

[@aronbhalla3279]

Dimitri Bianco would you recommend doing the PhD after doing the masters degree or going straight into the PhD after completing a Bachelors degree in Maths+stats?

[@J0RK]

Hey Dimitri! I have a question about what master degree I should pursue at my university. At the moment, I am mostly interested in risk, modelling and optimization. These degrees are Financial Engineering, Quantitative Risk Management (Honours programme) and Econometrics Honours programme. All have courses in stochastics where financial engineering is a bit more mathematical and quantitative risk management deals more with risk management. The econometrics honours degree provides much freedom as I can determine a substantial part of my degree through the choice of electives. Honours programmes are worth more credits. However, I am not sure how much this matters. Personally, I think that the Econometrics Honours programme is the most valuable. In addition to an econometrics core, it allows me to take all relevant courses of Financial Engineering (multiple courses in stochastics, a course on derivatives and a course on combinatorial optimization). By doing this degree I am essentially completing a financial engineering degree with extra courses. What degree would you recommend for a career path of my interests? I believe content is more important than the name of the masters degree but do companies care about the name of the degree?

[@DimitriBianco]

You are on the right track. Companies hire from a variety of degrees including econometrics. When hiring students, they are more concerned with what classes and skills you have learned and how they fit the job they are hiring for.

[@J0RK]

@@DimitriBianco Thanks Dimitri! Keep on making videos, they are very informative and useful!

[@tejasappana4097]

Some colleges actually just offer a Quantitative Finance Undergrad (B.S.) I go to Stevens Institute of Technology and am part of the QF program, and will be doing my accelerated M.S. in Financial Engineering there as well. This video helped me understand the types of careers I can go into though as a Quant, thanks for the information!

[@DimitriBianco]

A few programs now offer the undergrads. The accelerate masters is the key to using the undergrad. I'm hoping to see more of these programs.

[@WonkelDee]

What would you say is the absolute best major for someone wanting to become a quant researcher/analyst?

[@DimitriBianco]

I don't think there is a best major. Being an all star quant is all about solving problems. A lot of that skill comes from a personality type of loving to learn things in great depth. When I hire I interview candidates from a wide range of quantitative majors.

[@prod.kashkari3075]

Haha glad I changed my major from data analytics to statistics

[@behl557]

I have a bachelor degree in accounting, and I’m doing a master program named quantitative finance at Uni Kiel. And it’s so damn hard T . T

[@themarra7266]

how hard is it? Im actually interested to apply to uni kiel for the same program, it would be nice if you can contact me via my email [e-mail] :D

[@andresroman9544]

How are you doing with that?

[@Yasharghami]

Hi Dimitri, you have been very helpful. Im an Economics grad student in Canada. I have a strong background in econometrics and statistics. I am also studying for the CFA level one. How much do you think becoming a charter holder can help me in my career as a quant? Thanks in advance

[@DimitriBianco]

Some investing firms like it. I'm not a big fan of designations in general but if you work with anyone in traditional finance (usually management) they will like it.

[@Yasharghami]

May I ask you why you don't like it?

[@DimitriBianco]

It has to do with resources where time is the most important. Quant's main goal is to build models which are based off of finance. The finance piece makes up a very small component of the job though. Knowing a wide range of models and tools at a very deep level takes a lot of time. You barely even scratch the quant material when you get a 5-7 year PhD. Once on the job you need to be learning constantly to really get an edge and make a name for yourself. Now for the CFA it covers traditional finance and accounting which is good from a general perspective of finance however a lot of that isn't very useful for a quant. Not to mention it takes up a lot of time to study for it while your time could be better used on quant topics. I'm not a fan of designations in general because they cover topics at a very high level and are really just a check the box exercise. For quants I want people who think deeply about problems and can solve new problems, not something I can just look up online. Now business people and finance people love the CFA because it is more rigorous than business degrees including MBAs. Senior management at some firms are business people and so they like seeing the CFA as it is viewed as rigorous for them.

[@Yasharghami]

Thanks for your informative response. Not many youtubers do that.

[@kevina3372]

@@DimitriBianco I figure it also comes down to perspective, you look at the CFA as a designation/box checking exercise, I look at it as a tool kit. I agree that quants are predominantly building models, but communication, soft skills and domain knowledge is still extremely important… and in that a lot of quants are deficient. Sometimes the problem you are solving requires bridging expertise from a number of areas and you may find yourself being more efficient than losing time and resources to pull together a full team (when the job could be done by one person). While you def don’t need the rigor of the CFA to provide proof of your smarts and expertise, and your quant background provides you with the technical skills that are transferable across any industry, you will find the CFA useful in leveraging those skills and expanding in unique areas that wouldn’t be possible by simply googling.

[@johnadrianpile9261]

I am currently pursuing an undergraduate in finance my question is would it be relevant to take another undergraduate in computer science? I heard from a conference that it would be necessary in the future I just want to know you thoughts about it. Thanks

[@DimitriBianco]

For general finance (other video -> kzbin.info/www/bejne/m4myYnl8id-jqqM ) programming is required but it is much different than quant finance. For traditional finance, languages such as SQL and VBA are a must as they are used to pull data and optimize analysis.

[@DimitriBianco]

These types of languages aren't really taught in computer science. If I were you I would look for classes in the Management Information Systems (MIS) program and not computer science.

[@CountDuckula1908]

Is there any chance of getting into quant finance with just a BSc mathematics, first class?

[@DimitriBianco]

A smaller bank might pick you up but it's really career suicide. Banks and other firms look at the masters as a bare minimum before we even review the rest of the resume as a PhD is preferred. If you could get a job, you would end up stuck at that one company without being able to move to other quant jobs as no one would hire you. There are other careers that are analytics driven but don't require a masters. Take a look into operations research or data science.

[@noornono8107]

Thank you so much dimitri! I'm confused in which should I pursue as I have to choose between financial technology MSc or quantitative finance MSc... which one of them is better for a career bath?

[@DimitriBianco]

It depends on your interests. Financial technology would be a good fit for someone wanting to do more programming and work in tech such as fintech. Quant finance is for someone who wants to do math and statistics while using programming as a way to express your ideas.

[@benbadenhorst275]

Can you apply to Financial Engineering Master programs with an Economics undergrad degree?

[@DimitriBianco]

It depends on your undergrad and the MFE. Each MFE has their own requirements so just make sure you have the basics covered. For example, Baruch requires that you have taken a CS class on programming.

[@kenricklee7525]

I’m a econ major with a focus in finance and minor in cs would that be good?

[@DimitriBianco]

Most econ degrees don't take enough math and stats. Quant masters programs look to accept students with math and stats backgrounds. It's why engineers are also accepted into these programs.

[@phinehasikanya4353]

I have a degree in economics and mathematics and currently clearing my masters with mathematicall finance. how do I blend the two for career and employment purpose? please advise.

[@DimitriBianco]

The key is writing a resume that shows a similar trend/story. Your undergrad and graduate degree look very similar so there shouldn't be too many issues.

[@phinehasikanya4353]

@@DimitriBianco the practice of finance, risks and investments are at minimum scale given that this is a developing country. would you please send me a mail where we can communicate some more. am struggling on what to and not to include given that i have no experience. as i shop for internship.

[@rosh6211]

Hey sorry for asking too many questions I have a new question If i have a buisness analytics undergrad then can i do masters in quant finance or computer science

[@DimitriBianco]

If you have the prerequisites for the masters program (they vary between programs), then yes.

[@Terozad]

I am doing an econ and finance bachelors at a semi target (with a focus on econometrics and data science) but I have applied experience and success in algorithmic trading through my own business and will be completing a software engineering internship at a top bank this summer, do you think I will be able to transfer to quant? Thanks

[@DimitriBianco]

You'll still need a masters. For "quant" which I consider model development, you need more math, stats, and programming. If you go the "quant dev" path, you'll need a solid computer science background and often a masters is required as well. This is a US perspective though. It may differ in other countries.

[@Terozad]

@@DimitriBianco Thanks, I would hope that the internship plus my prior experiences will give me sufficient programming knowledge aswell as of course a strong understanding of the finance side. I have managed to secure undergraduate summer intern interviews for quant research/trading but always stumble at the mathematical/statistical questions so will certainly look for a master's that focuses in that area (if i am eligible for them).

[@owenzaynesdad7920]

bayesian or frequentist in risk management?

[@DimitriBianco]

Bayesian is used however frequentist requires a lot of data which isn't available in finance. Most finance data is sparse which is the challenge. Even credit data which is large has the challenge of non stationary time series.

[@anshuljain3644]

Hello! What is the employment status in the USA for Quant Finance students? And also the pay scale for these grad students.

[@DimitriBianco]

These videos will give you an idea on compensation and career paths. kzbin.info/www/bejne/h5mpkoCqnt9nga8

[@DimitriBianco]

kzbin.info/www/bejne/bZDNop2np6t3mdE

[@leonmozambique533]

what about actuarial science degree?

[@jairevonhayes5503]

Would you recommend Computer Science or Computer Engineering?

[@DimitriBianco]

For the jobs in this video computer science would be better. If you want to work with hardware then computer engineering would be better. There is a need for managing servers and other hardware at banks and trading firms. I would consider these jobs tech jobs.

[@MySpark100]

Is there a way to switch to Quant finance, I am currently an MS in Mechanical Engg student, but I want to switch to Quant Finance, and I don't have a degree in finance/CS/math, and it is highly unlikely that I will be able to get one (anymore)

[@DimitriBianco]

You can always apply for quant jobs but yes, it isn't very likely. If you do try to apply just make sure your resume has the skills required in the job postings. If the skills look to align, some firms will hire those with unique degrees.

[@aayushchatterjee8157]

Does it matter where you get your degree from? Want to work at citadel as a trader.

[@DimitriBianco]

Yes it matters where you get the degree from. Not all programs teach the same quality of materials and many MFE graduates end up in non-quant roles. You might like the video linked below where an MFE program director interviews me about choosing an MFE. kzbin.info/www/bejne/hqmvZKuAZamBsJI

[@thelilpippin]

What do you think about getting a bachelors in data science?

[@DimitriBianco]

It could be a route into quant finance. Just make sure it has a lot of math and stats.

[@heinrichtrotter5442]

What is the lowest level of Financial Engineering in its job hierarchy?

[@DimitriBianco]

Usually they are called analysts or associates.

[@4seth]

In the Finance career paths video someone asked when was it a good time to pursue a CFA. You stated Junior or Senior years. I am wondering if this same advice holds for quantitative finance career paths?

[@DimitriBianco]

Similar advice but different. For quant finance you'll need a masters or phd. Getting the CFA during the last year or two would be my advice.

[@mini_frank]

here's the path every high school kid should who wants to do HFT should go, applied math undergrad, computer science masters, stats PHD, this is probably the most employable path.

[@leonmozambique533]

what about physics undergrad?

[@tomsteph5390]

Am i eligible to apply for masters in quantitive finance with a bachelors degree of economics and management . Thank you!

[@danielsaragih]

No. Too much gap