Questions from an International Perspective

[TonyIRL]

Hi,

First post on QuantNet: Introduction and some brief questions.
My background is as follows:
Education:
BEng - Computer Engineering, Ireland. GPA: 3.8
PhD (Nov '09) : Bioengineering - signal analysis, machine learning algorithms
2 years of PhD spent in Ireland. Last year spent at Harvard Med.
Work Experience: One year, undergrad internship - Analog Devices - Research Engineer

Financial experience:
Weak: one elective course during undergrad. Registered to take the CFA level 1 in December.

I'm in the process of compiling my application and would greatly appreciate feedback on the following questions:
What impact will the recent changes on H1B visas have on International students over the next year or so?
Considering the post "[FONT=&quot]The State of Financial Engineering" [/FONT]by Sylvain Raynes are people generally pessimistic about the future of quant roles?

More personal question:
How will this lack of financial experience influence my chances?

I appreciate that these questions are generic and have been addressed to some extent in previous posts - however I am hoping to start a fresh debate on some topics.

Regards,
Anthony

 

[Uncle Max]

What impact will the recent changes on H1B visas have on International students over the next year or so?

I don't think so. This was just a political populist move. Moreover, I personally know several people who got H1B jobs in a past couple of months.

Considering the post "[FONT=&quot]The State of Financial Engineering" [/FONT]by Sylvain Raynes are people generally pessimistic about the future of quant roles?

Sylvain Raynes is my boss, so I will not comment on his views
Finance in general and Financial Engineering will definitely change. You will see less tricky derivatives and exotic instruments, therefore less brain power will be required. But if the next bubble will start building soon, everyone will jump on the train again. This kind of things are hard to predict.

How will this lack of financial experience influence my chances?

Financial part is usually the easiest one to pick up. CFA level 1 should give you enough vocabulary to go for interviews. What about your Math and Programming skills? They are harder to master in a short period of time and more relevant to the quant's job.

 

[TonyIRL]

Hi maxrum,

Appreciate the quick response.
I have a solid background in engineering maths, covered all the entry requirements for the Baruch MFE. My programming skills should be up to scratch, extensive knowledge of C, C++ from undergrad and Matlab, WEKA and R from PhD.

I plan to apply for a 2010 enrollment so it will be interesting to follow the internship / employment stats of the various MFE programs.
Regards,
Anthony

 

[Uncle Max]

Looks like you have a very strong profile. Are you in the U.S. now? Read some financial books (like John Hull) and look for the job directly. It will be hard to find something in big banks now, because their existence is questioned and you don't know anybody inside.

But small hedge funds, prop trading desks etc might be interested in you very much. They even might look through your weak knowledge of finance if you can show them that you are very strong at math, C++, R etc.

 

[alain]

My advice is to keep the MFE in the backburner and start looking for a job.

 

[TonyIRL]

Thanks for the encouraging words. I'm in Boston and will be spending the next several months wrapping up my current studies.
John Hulls book on 'Derivatives' is highly recommended across this and other forums-seems like a good investment!

 

[alain]

Tony,

Send an email to Dominic or to Mr. Fahey directly. Do a search in QN for their info.

 

[Uncle Max]

John Hulls book on 'Derivatives' is highly recommended across this and other forums-seems like a good investment!

You can buy an "international" version on ebay for less than $30. No need to pay a $100+ in store.

As Alain suggested, contact recruiters. Send your resume to Dominic and ask him for his career guide for beginner quants. It has a lot of useful info especially for somebody in your position.