Quantitative Research Analyst

[Terrance]

I am interested in working as a quantitative research analyst, perhaps on the buy-side, and I would like to learn more about the career to see if it's a good fit. What would be the best way for me to find out more about these types of jobs?

In addition, I plan on going to grad school, and I was wondering if an MFE is something I should pursue, or are there more relevant options for becoming a quant research analyst.

 

[DavidHilbert]

Unless you already have a Ph.D. in physics, CS, mathematics or other quantitative discipline, there is very tiny probability that MFE will get you into quant research analyst position on the buy side.

One relevant option is to get a Ph.D. in any of those disciplines, but then again, doing a Ph.D. because you want to get a job is a terribly bad idea.

 

[Parallax]

Unless you already have a Ph.D. in physics, CS, mathematics or other quantitative discipline, there is very tiny probability that MFE will get you into quant research analyst position on the buy side.

One relevant option is to get a Ph.D. in any of those disciplines, but then again, doing a Ph.D. because you want to get a job is a terribly bad idea.

I disagree with this.

I work on the buy-side and interface with the more traditional shops (AJO, Neuberger Berman, etc.) who employ quant research analysts as well as the top quant shops (AQR, Acadian, Two Sigma, etc). Quant research analysts (which, BTW, can mean a lot of things) on the buy-side have a range of backgrounds, from MBA to M.A. to M.S. to PhD. Almost all of them have graduate degrees or PhDs, and most are science-related degrees. The key is to have skills in applied mathematics and computer science. An MFE program that is more dedicated to time series/statistics/econometrics is better for the buy side (a p-quant, if you will), in my opinion.

All else equal, a PhD is better than MFE, but no one on this site will recommend pursuing a PhD unless academia is your primary goal.

Long story short, yes you can get this role with an MFE, but the degree alone will not get you the job (skillset and networking will).

 

[Terrance]

Unless you already have a Ph.D. in physics, CS, mathematics or other quantitative discipline, there is very tiny probability that MFE will get you into quant research analyst position on the buy side.

One relevant option is to get a Ph.D. in any of those disciplines, but then again, doing a Ph.D. because you want to get a job is a terribly bad idea.

Yes, getting a Ph.D does seem like a standard way to go, but I agree that a Ph.D. program probably isn't the best way to go if I'm interested in work experience more than my academic interests.

I disagree with this.

I work on the buy-side and interface with the more traditional shops (AJO, Neuberger Berman, etc.) who employ quant research analysts as well as the top quant shops (AQR, Acadian, Two Sigma, etc). Quant research analysts (which, BTW, can mean a lot of things) on the buy-side have a range of backgrounds, from MBA to M.A. to M.S. to PhD. Almost all of them have graduate degrees or PhDs, and most are science-related degrees. The key is to have skills in applied mathematics and computer science. An MFE program that is more dedicated to time series/statistics/econometrics is better for the buy side (a p-quant, if you will), in my opinion.

All else equal, a PhD is better than MFE, but no one on this site will recommend pursuing a PhD unless academia is your primary goal.

Long story short, yes you can get this role with an MFE, but the degree alone will not get you the job (skillset and networking will).

Yes, I totally agree that skills and networking is probably more important than just the coursework I would be taking, but do you think there are master's programs that are more relevant?

Do you have any recommendations for learning more about what the different types of quant research analysts there are? I would guess that they mean fairly different things at a normal mutual fund like PIMCO vs a quant shop like Two Sigma.

Overall, I think getting a job like this would require a lot of luck, but my outlook is that I need to aim high, even if realistically, it will take several years even after graduate school.