|
Hi everyone,
I am a new member of NP although I have been viewing from a safe distance for a little while now. I appreciate that these "Give me Guidance" threads can grow somewhat tiresome, however I have found reading them to be extremely helpful. Having said this, I would be very grateful if someone could offer some advice on my situation.
I graduated with a first class undergraduate degree in physics from a top 5 British university a couple of years ago. Not really knowing what I wanted to do at the time, I landed myself a graduate training programme as an analyst at a large energy company. I have taken placements in power and gas hedging and risk management and plan to take placements in complex risk/quantitative modelling (working with weather derivatives, imbalance models etc.). Due to my limited educational background I have had to do a lot of reading up on areas of quantitative finance and have taught myself VBA and C++. I have loved this work and feel that I have found my true calling in life as a quant.
My question is this: If, at a later date, I wanted to make a move to a bank (commodity desk) or even a hedge fund to become a 'proper quant', what additional qualifications will I need? Would my experience from this training program be looked upon favourable or could my time be better spent back at university? Would my current experience plus an MFE (and maybe CQF?) be enough to get me an interview for a front office position? Or am I going to need to go back to physics and work towards a PhD (seems very indirect and long winded).
Any advice will be greatly appreciated. And please, go easy I'm a newbie!
Cheers. |
|
|
|
 |
|
Experience in quantitative modelling is likely to be looked on favourably, although as energy is a (relatively) isolated area, it may be harder for you to use it to get past the first filter of junior headhunters and the like. Back in the mid 2000s quite a few students on my MFE course got decent HF / IB quant/trading roles with less relevant experience than it sounds like you will have, although conditions are likely to be more difficult now. Practical C++ and networking will help. And don't discount the possibilities of an internal move into energy trading.
If I was interviewing you, I would ask why you want to try quant work instead of continuing into generalist management / MBA. Unless you enjoy physics for its own sake a PhD would be a bad idea! |
|
|
 |
sv507
|
|
| Total Posts: 134 |
| Joined: Aug 2010 |
| |
|
You don't need any qualifications. As I'm sure you realise a PhD in Physics does not guarantee you know anything about stochastic models etc.
The PhD is just to show you are smart enough. Would think your first shows that already.
Your experience should be much more valuable.
The problem though is the following: as you grow more experienced in commodities/finance you become harder to slot in to the standard quant training...ie graduates (inc PHD Physicists) start knowing very little about programming/finance, and gradually become more and more senior as they get to know the business and programming/modelling. You would be senior wrt business knowledge but junior wrt programming.
personally I would apply for a graduate/associate training program or even internships ( assuming you can) ASAP rather than doing any training program MFE etc. |
|
|
|
|
|
My thanks to both of you for replying.
@sv507 What type of graduate/associate programs would you recommend? All of the major graduate programs that I have looked at seem to require more than just a lowly BSc.
I respect both of your comments with regards to becoming pigeon holed into an isolated energy sector and a non-traditional quant role. With this in mind, the path I that am strongly considering is as follows, and I would be grateful to hear comments:
See out the remaining 18 months of my graduate scheme, taking a placements in 'quant' roles such as Risk Valuation and Modelling.
In the mean time, begin working towards the CFA to broaden my understanding of the finance industry in general and introduce me to many basic financial concepts. In 18 months, I could realistically expect to be at level II.
Once the grad scheme ends, enrol onto a full-time MFE course to cement my quant finance knowledge
This would then leave me in 2 and half years time with:
BSc Physics
2 years experience in hedging and risk modelling in the energy sector
Level II CFA
MFE
In your opinion, would this constitute a solid application for a top buy-side quant role?
Thanks.
|
|
|
|
