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05-06-2008, 04:49 PM
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#1 | | Senior Member
Join Date: Aug 2004 Location: Seattle, Lynchburg, VA Gender: Male
Threads: 687
Posts: 7,483
| UBS to fire 1000's
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05-06-2008, 07:32 PM
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#2 | | Member
Join Date: Dec 2007 Location: NYU Stern '12 Gender: Male
Threads: 27
Posts: 739
| TOP STORIES: Quantitative Analytics Hiring Strong in Chicago
"While many financial professionals are concerned about job security and plummeting compensation, at least one segment remains healthy: quantitative analytics."
for those actually in the industry (those who have interned at i banks and/or are currently working at one), please assess the validity of the quote above....despite the fact that many investment banks are laying off thousands of workers, I've heard that most of the ones laid off are working in non-quant positions....so is it true that quants generally aren't hit as hard by recessions as are non-quant people? | |
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05-06-2008, 07:36 PM
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#3 | | Member
Join Date: Oct 2007 Location: San Jose, CA Gender: Male
Threads: 34
Posts: 548
| more like the weather is horrible in chicago and no1 wants to work there  | |
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05-06-2008, 07:50 PM
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#4 | | Senior Member
Join Date: Jan 2007 Location: P-Town, where the ballas Ball
Threads: 75
Posts: 4,317
| more like im going to uchicago so i better get a damn good job... | |
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05-06-2008, 07:55 PM
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#5 | | Member
Join Date: Dec 2007 Location: NYU Stern '12 Gender: Male
Threads: 27
Posts: 739
| more like im majoring in math and becoming a quant as opposed to some non-quant analyst.... | |
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05-06-2008, 09:26 PM
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#6 | | Senior Member
Join Date: Aug 2004 Location: Seattle, Lynchburg, VA Gender: Male
Threads: 687
Posts: 7,483
| Chicago rocks and trading options is way different than investment banking. | |
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05-06-2008, 09:44 PM
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#7 | | Member
Join Date: May 2006 Location: London, Baby
Threads: 9
Posts: 838
| Different than? | |
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05-06-2008, 09:54 PM
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#8 | | Member
Join Date: Dec 2006
Threads: 12
Posts: 946
| Most of my friends from sales & trading, operations, IT are still employed. Many of them have seen cut back, but they have all survived. Knock on wood. Many firms regularly manage out the bottom 5-10% each year anyway. My firm has cleaned out so much we are in the mode of trying to keep our best people. | |
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05-06-2008, 09:55 PM
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#9 | | Member
Join Date: Dec 2007 Location: NYU Stern '12 Gender: Male
Threads: 27
Posts: 739
| yea, i know, but my question is still unanswered....are the majority of job losses in UBS etc for quant positions, or mostly for non-quant positions? I've heard from people before that firms generally tend to retain their quants, and even if quants get laid off, they dont have as much trouble finding jobs as non-quant people do | |
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05-07-2008, 05:52 PM
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#10 | | Member
Join Date: May 2006 Location: London, Baby
Threads: 9
Posts: 838
| It probably depends on the division in which the quant is employed. Sometimes entire teams get shut down, and all the workers in the group are laid off, quants and all. | |
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05-07-2008, 09:26 PM
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#11 | | Junior Member
Join Date: Sep 2007
Threads: 38
Posts: 228
| I read 6,000 Merrill Lynch cuts and 14,000 Citigroup cuts. | |
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05-07-2008, 09:50 PM
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#12 | | Senior Member
Join Date: Aug 2004 Location: Seattle, Lynchburg, VA Gender: Male
Threads: 687
Posts: 7,483
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05-08-2008, 09:05 PM
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#13 | | Senior Member
Join Date: Jan 2007 Location: P-Town, where the ballas Ball
Threads: 75
Posts: 4,317
| quant is sooooo where it's at.......soooooooo where it's at
It's actually fun..you just do math all day.. | |
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05-08-2008, 09:28 PM
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#14 | | Member
Join Date: Dec 2007 Location: NYU Stern '12 Gender: Male
Threads: 27
Posts: 739
| ^^ thats pretty much what analysts and even associates in IB do all day...and they do pretty elementary number crunching on Excel....quants, especially those in trading, actually do math that's fun lol, cuz they build trading algorithms which can earn (or lose) a ton of money...it sounds more engaging than doing mindless number crunching in Excel......
here are examples of quantitative roles What We Offer - Quantitative Careers - Opportunities At Lehman - Careers - Lehman Brothers | |
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