Innovation?!

[iRey]

I have been exploring a career as a quant for sometime since I love maths and coding but before going any further two questions keep bothering me.
Firstly, I want to know what is the scope of innovation and creative thinking in this career path?? Does one always have to stick to the book??
Secondly, how many quants out there really love their job rather than just doing it for the money?? Or framed otherwise how many of them would have done it even if it wouldn't have paid as much as it does.

 

[MRoss]

Asking a specific question about a "quant job" is like asking a specific question of "doctors". There must be hundereds of different catagories of "quant jobs". If you feel smart enough to create your own Black-Scholes-iRey method then go into research. You'll become rich and famous.

As far as why people go into this field it is the same answer as just about every other field. People work for money and to keep themselves busy; usually doing something they enjoy.

 

[DominiConnor]

MRoss analogy to doctors is pretty good. Fact is that most doctors do no research, they are problem solvers, consultants and business people.
In talking to quants I of course see survivorship bias, those who are still quants are those feel that's the best option for them, but I think most are as happy as they would be elsewhere. Quanting is a very wide range of work, some people tell me that they want to work for top tier firms with the good and bad things that brings, other prefer smaller outfits. Some are directly involved in trading some aren't even in the same country as the traders. Some write lots of code, some don't write much.

 

[iRey]

Thnx fr the insight. I just wanted to make sure that it's a kind of job with which you'll enjoy doing even after doing it for many years and not have a feeling that you're stuck with it. I asked the question because there are loads of posts on blogs and internet which paint career in quant as something they are stuck with and would be glad to make a switch anytime, that's what had me wondering.
But, judging from your responses, I guess there exists a lot of diversity within quant fields and a general statement can't be made about it