Is this an appropriate moment to apply for quantitative modeling jobs??

[immanance]

Today I had an interview with a manager in BA. He told me that most of the open positions are related to development and coding. He told me that this time is not a good time to apply as a pure quantitative modeler and finding jobs related to quantitative modeling and even high frequency data processing are very rare :-ss. I just asked him if it is a good strategy to start as a developer and then switch to some modeling works or not, and his answer was that in industry it is very difficult to switch, so if you start as a developer you will continue in this role. I am in the last year of my PhD in computer science, with bachelor in applied mathematics. My Master and PhD was on Machine-learning and Artificial Intelligence. I have started to study some finance and quantitative finance reference books (some of the books were recommended in the master reading) and I was (am) very eager to find a job in quantitative modeling or on high-frequency data processing. I just want to know what is the best strategy to find a job in these roles?? Should I think to some other roles, like risk management or model validation???

 

[TBeas]

I am failing to see why you wouldn't apply for a position in which you were interested. Sure, it may be a long-shot, you will also need to apply to other areas, but I don't see why you wouldn't apply to the one you really wanted.

 

[immanance]

I am failing to see why you wouldn't apply for a position in which you were interested. Sure, it may be a long-shot, you will also need to apply to other areas, but I don't see why you wouldn't apply to the one you really wanted.

Actually I just have applied for positions which are either on high frequency or on derivative pricing modeling. I did not apply for the job I had interview today, my resume was passed to them by the head hunter. So far I just have applied for the role I am really interested in, but if it is that full that I heard today I think I must change my strategy and try to find a job in risk management or other areas

 

[HyperVolatility]

I think you should clear your mind first and find out which role is more suitable for you.
if you have a PhD in computer science with a bachelor in applied maths means that you know a lot about numerical methods,programming and neural networks but almost nothing about finance,hence, it is wise to go where your skills are more useful and appreciated. Let's break it down:

People with a an MSc or a PhD in Computer Science/Applied Maths/Physics/Neuroscience are better off applying for:

High Frequency Trading (100%)
Software Developing (80%)
Quantitative Analysis (60%)
Credit Derivatives Structuring / Pricing ( 50%)

Those roles are the best for you because no finance understanding is required but you still can use your skills

People with an MSc or a PhD in Financial Engeneering / Financial Mathematics are better off applying for:

Credit Derivatives Structuring / Pricing (100%)
Exotic Options Pricing (90%)
Quantitative Analysis (80%)
High Frequency Trading (50%)
Software Developing (40%)

People with an MSc or a PhD in Finance / Statistics / Econometrics / Financial Economics are better off applying for :

Derivatives Trading (plain vanilla) - Trading (stocks or FX) (100%)
Derivatives Pricing (plain vanilla) - Trading (stocks or FX) (90%)
Fund Management (80%)
Exotic Options Pricing (70%)
Quantitative Analysis (70%)


Obviously there are many exceptions to this list which is far from being exhaustive,however,those are the jobs where you can easily "express" your knowledge.
Hope this helps

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