Quants info

Whats a quant?

what do they make?

What are the processes to become one?

any downsides?

I find it hard to believe that someone with your stats and achievements doesn’t know this or have the wherewithal to do a rudimentary Google search to find this answer.

The highest academic achievements both in GPA and testing. High level competition results. Yet, starting threads on fast money and getting a SE job without a degree is literally inconsistent with the work ethic required to amass such a purported record. I smell fish.

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It’s a pretty vague term, but most often is used to refer to one or more of the following roles:

Quantitative Analyst
Quantitative Researcher
Quantitative Developer

Typically, math and CS-heavy, and work on inventing and/or implementing novel algos and models in the finance space. They make a lot of money, and the roles typically require grad degrees (lots of them are PhDs in CS/DS, Stats, Math, Physics, or an Engineering discipline).

@PurpleBandito I too am puzzled by the interest in quick money, CC transfer etc., when you had also posted about reach schools and perfect stats. You will need to provide additional context if you want good feedback. Otherwise, it smells fishy to me too. Are there financial issues involved?

Yes, you can potentially make a lot of money, but beware that there will be tremendous pressure to proof you’re worth your salary, and it’s very competitive.

Working in the financial industry is (very) high pressure, fast moving and can be lots of fun - if you like that type of environment. But be ready to work long hours (24x7x365), and be ready to deal with the pressure and the constant need to “proof your worth”.

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I am a quant and have been for 10+ years.

Quant positions vary a great deal. Some are high pressure, and others much less so. A large number of positions have very reasonable hours, unlike say investment banking. The average compensation is high, but it is also highly variable depending upon your performance and firm performance.

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Can you share what industry you’re in, and how your work is used? I’m only familiar with quants in the finance / IB world. Curious what / how other industries utilize quants too. TIA.

I am in finance, equities in particular. I am a portfolio manager.

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The term “quants” is used by different businesses in finance to refer to people of different quantitative skills. IB has its “quants”, but they’re working mostly on mathematically-unsophisticated spreadsheet models. At the other end of the spectrum, there’re “quants” who work in the fixed-income derivatives business who have PhDs in math, physics, or economics. At the height of that business, it wasn’t unusual to see some professors in academia became “quants” (even a few Nobel laureates were among them).

Hiring of people with advanced CS degrees is a relatively recent phenomenon, even though the founder of one of the major original quant hedge funds was a CS professor. As data become ever more critical, there will be more “quants” with CS PhDs (than PhDs in other quantitative disciplines) on Wall Street.

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I worked in Equities for several years. Loved it! So much happening, and so much to learn!

I find quants a fascinating field, but sadly beyond my mental capability :frowning: