NuclearPhynance Archive

I finished my Chemical Engineering in 2007 and have been working as a Business Analyst on the IT side. Though I am designing requirements/scenarios , my C++/Math is rudimentary/rusty.Now I want to do something more cerebral , which happens to be quantitative finance.



On looking at the book list suggested on Mark Joshi's website (which is said as required reading and not exhaustive), it appears that most MFE programmes wouldn't dare cover the list. Also have a feeling that MFE (as they are 1 year) would not provide time to understand the underlying concepts (unless someone has a bachelors in applied maths/stats which I don't have).



Thus I am contemplating to pursue a Masters in Quantitative Economics followed by a MFE. In the above masters , could take several courses in Maths/Stats/CS department and then develop the background necessary for truly understanding concepts in MFE and afterwards. Note that the masters in Quantitative Economics is an academic programme focussed on stats and not on finance, hence the need for MFE.



I know that I am not 100% sure that I would be able to be a desk quant, I may end up doing a generalist role in Quantitative Finance - structuring, risk management etc.



Do you think this strategy of double masters a good route , or do you think I am unnecessarily delaying the process if I am not 100% keen/sure on being a quant ?



Thanks for your time.

You could try studying the underlying math you feel you are missing on your own and then going for one of those MScs instead of both. It might be a waste of time and the benefit from doing both might be minimal if not negative.

I don't know any front-office quant who would describe his job as cerebral. If you're serious about wanting intellectual stimulation, why not doing a PhD in chemistry?



I'll know you'll ignore the above anyway and do me off as not constructive and unhelpful. As a second argument why I think you better not waste time on wanting to be a quant: there are 25,000 guys just like you except that they didn't first study chem.eng. and didn't do irrelevant work as business analyst before. The entry-level quant market is flooded. What is going to be a reason to hire you?



Getting where you claim you want to be from where you are now can be done, but it just isn't that likely.

Bramj,



It seems to me that you were not in a good mood when you posted this message. You seem to miss a few details



1.) I never said that I wanted to be a FO Quant, just that would like to study the same in depth and work in the domain of quantitative finance.



2.) "There are 25,000 guys just like you except that they didn't first study chem.eng."I am not sure if I can make such a deterministic statement about myself.



3.) You consider BA as irrelevant work ex.  What is relevant today can very soon become irrelevant (CDOs , unemployed old day traders). In the life of curve balls, its your learning attitude that's relevant.  You need to see the world from a broader/different perspective than a linear process.



I would not consider your post as unhelpful, but rather perspective from your own paradigm.

in my opinion there would be very little advantage in you doing two related masters degrees.



however brushing up on your maths / coding skills and then possibly doing an MFE would seem like a reasonable plan. there are no guarantees, but why not start by working through one or both of Joshi's books and the associated math,and see how you like it?