Asking for advice regarding career as a quantitative analyst

[oderplace]

Hi everyone!

Firstly, I am sincerely sorry for the long post. I would be very grateful for answering the following questions, your opinions, thoughts etc.

I am currently a 3rd year Bachelor's Degree student majoring in Finance and Accounting. I'm from Poland so generally I do not have major chances to gain education and become a quantitative analyst here. But since I discovered the world of financial modelling and it became my passion, I'm learning on my own and I'm highly motivated to go abroad and work as a quant in one of the financial centers such as London or Frankfurt. I think it's the right time to make some things clear and ask the experienced community of QuantNet for advice.

My plan for now is to complete Master in Finance course here in Poland (Wroclaw University of Economics) and gain a CAE certificate in order to apply for a MSc in Quantitative Finance/Financial Engineering/Risk Management in UK.

1. Is the Master in Finance course here in Poland sufficient, having in mind I'm going to apply for Quantitative Finance studies abroad? I'm learning on my own and trying to constantly develop my skills in programming (VBA, MatLab) and numerical methods. Do I need to have a mathematical education, is it necessary to gain a strictly mathematical degree? What I'm trying to ask is, from your experience, quantitative finance is about being a financier that knows how to use mathematical tools to solve problems or a mathematician that knows certain market mechanisms?

2. Is CAE certificate sufficient or IELTS is a better choice?

3. For now I'm thinking about Quantitative Finance and Risk Management course on Newcastle University, generally because of the relatively small fee. In my wildest dreams I couldn't afford a similar course in let's say Imperial, Warwick, LSE... What are your thoughts about this course?

4. In your opinion, what are the absolutely crucial skills when it comes to becoming a Quantitative Analyst?

5. Last, but not least. Kinda philosophical, but don't be irritated please: do I stand a chance? I mean, I'm a polish student and I have no doubt there's a large gap between me and students working on their quant careers from the very beginning on the best business schools in the world that I probably never will be able to afford. Do passion and ambition is enough or do I generally have very small if any chances to become a Quant and need to start looking for something else?

Again, I would be very grateful for your responses, thank you in advance and have a nice day !

 

[MarekSabata]

Hi there from Czech Republic.

I won't directly tell you whether you stand a chance or not, since it depends on many factors (GRE, statement of purpose, letters of recommendations, work experience, GPA, what you know etc.), but I'd definitely encourage you to try it.

I've studied bachelor in math and economics (Charles University in Prague) and together with my strong feeling about mathematics and finance, it was sufficient to get me into Columbia's MFE. At first I also didn't quite believe I have any chance among people from the top world's universities (definitely not saying I think math at Charles University is inferior to top programs), but the admissions process at most universities is so holistic you never know where you stand with your background.

So I strongly suggest give it a go! If you don't try it, you'll never know. And I'd also try to get into some of the more known programs - maybe you'll get in and manage to receive some scholarship.

By the way - from my experience, CAE is almost useless. Most universities want either IELTS (british) or TOEFL (us).

Good luck,
Trzymaj się.

 

[oderplace]

Thank you very much for the answer Marek!

There is a MA Quantitative Finance course in Poland (University of Warsaw) that I could manage to get in, but I really don't know if it makes sense - studying quantitative finance here in Poland... The Curriculum does not contain anything about let's say stochastic calculus and so on http://www.best-masters.com/ranking...f-economic-sciences-university-of-warsaw.html

On the other hand the course fee is nowhere near the amounts I would have to pay let's say somewhere in the States, so that's a big plus.

Can I ask what do you think about it?

Also, what are your thoughts about Quantitative Finance and Risk Management course on Newcastle University?

 

[MarekSabata]

Well I guess it depends where you want work thereafter. If you want to stay in Poland, I think it will suffice to do the MA there.

Regarding the program, I've never heard about it. Take a look at the curriculum at both of these programs, see what fits your interests more and choose accordingly. However studying in different country than you come from, especially if it's UK, may be a great experience and it may appear "sexier" to employers than if you just comfortably stay in your country for your whole studies...