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Is my dream/career over?

som1som1 463 replies43 threads Member
edited June 2008 in Business Major
Hello,
In my senior year in college i decided that I was interested in quant finance and wanted to pursue that as a career, however i got rejected from alot of the good places i applied to. I was wlisted at stern and even they rejected me from it yesterday... Anyway now i have to go to a LAC called Franklin and Marshall, i doubt anyone has even heard of it. Anyway i heard that the big firms only recruit from schools that have good math/finance/eco dept which are mainly business schools and top 20 colleges.

My question is that should i consider something else as a career? i mean i have talked to a few people who are quants and asked them about the work/life/pay and everything just seems perfect for me However since i didnt get into a school with good maths/eco dept (they dont even have a finance major) will it be very very tough or impossible for me to get a quant job (not necessarily on wall street, anywhere will do in a good firm) and should i consider doing something else??

Any help will be apppreciated
edited June 2008
10 replies
Post edited by som1 on
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Replies to: Is my dream/career over?

  • quag_mirequag_mire 814 replies37 threads Member
    i dont think all hope is lost yet...most quants, as far as I know, start their careers after getting a masters degree in financial engineering, mathematical finance etc...very few quants start their careers after an undergraduate degree...what i would do if i were you is major in a highly quantitative area, like econ + math double major, and get a really high GPA, and try transferring to a slightly more prestigious place...do a lotta undergrad research, internships etc and that might get you into a good graduate program...then you can definitely pursue a quant career...if you work hard, im sure getting a high GPA and double majoring in franklin and marshall wont be a problem
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  • BedHeadBedHead 2650 replies80 threads Senior Member
    Not at all, but it depends perhaps on what you mean by quant finance. If you are talking about mainstream investment banking, maybe so. Some people consider this quant finance, though it's really not by the industry definitions. But if you want to be a quant finance geek with an FE degree, just study math and do very well and you'll be set up to go for this as a graduate student.

    You should look at some parts of this thread:

    http://talk.collegeconfidential.com/investment-banking/499802-best-ph-d-math-program-i-banking-hedge-funding.html
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  • LaceroLacero 187 replies2 threads Junior Member
    Don’t worry, a real quant role is far far from undergrad. A masters degree will probably only get you into some entry or support role. Most quant’s have PhD’s or equivalent experience.

    Just major in somethin math heavy. If its not electrical engineering or math, expect to take a math minor. Econ, physics and other engineering programs dont have the courses needed, and unless you really like pure math, you may not want to double major in math.
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  • naurunauru 1143 replies15 threads Senior Member
    How come you were applying to Stern when you were a college senior? Were you applying for a masters program or what?
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  • som1som1 463 replies43 threads Member
    hey thank you very much for ur replies everyone..

    I meant High school senior not college senior lol my bad.

    And yes i really like pure math!

    Anyway im on michigan's "High Priority" waitlist now , though im not sure when and IF im gonna hear back...

    Lastly, are Graduate programs in FE hard to get into for internationals? i know some ppl whove done their bachelors at a local university (not the the us uk or canada) with average or slightly above average grades/GPA and then go on to oxford,cambridge or harvard for their masters or MBA. Are masters programs in FE that easy to get into for internationals too?
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  • LaceroLacero 187 replies2 threads Junior Member
    No they are not. Most of the applicants are international so that won’t be a problem. Average GPA after college? Your dream WILL be over.

    You will be competing with applicants who have PhD’s, experience as assistants to quants, quant developers and applicants from applicable fields such as signal processing. Many of them have won many scholarships and prizes and they all have super stats on paper. This is a graduate program and as such you will be judged purely on academics and intellect.

    If you are not a US citizen, be prepared to be shipped to London (some say its better) or Canada for a job if you can’t get a work permit.
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  • som1som1 463 replies43 threads Member
    Thx for the info

    I dont plan on having an average GPA in college, gonna try and keep at as close to a 4.0 as possible.

    Seems tough to get into a quant finance program , but ill try my best

    thx again
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  • CalcruzerCalcruzer 4756 replies76 threads Senior Member
    Just do well whereever you go and then you can still transfer to a good quant program--like Stern's, Carnegie Mellon's, or Michigan's.
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  • som1som1 463 replies43 threads Member
    thx for the replies,

    One more thing, since many of you said that MOST quants start their career after getting a masters in FE or a similar degree, does JOB experience matter ? Do you apply in you senior year of college or do u need some kinda experience like you need for an MBA?
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  • BedHeadBedHead 2650 replies80 threads Senior Member
    ^^^

    Berkeley's FE program, considered the best by many, accepts people with work or research experience typically:

    MFE Prospective - For Prospective Students - Haas School of Business
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