How to get into quant finance #Finance

how to get into Quant Finance the tldr on Quant Finance is that Quant

href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance is basically using mathematics and large data sets to analyze financial none;">Markets and Securities it’s a career commonly pursued by mathematicians statisticians and those with computer science backgrounds for one main reason quants make bank with starting salar from 200,000 to quants making millions of dollars each year is definitely one

of the most lucrative careers out there but now the question comes how does little old Joe moo supposed to get into this Niche field well here’s a crash course on the world of quants all right starting off we’re going to go over the types of quants so you have a better picture of the

Quant space first off we have Quant Traders hi I’m a Trader and Quant Traders use algorithms to make Split Second trades they focus on speed and strategy and have a very strong foundation in mathematics next up we have Quant researchers hey I’m a Quant researcher Quant researchers are

the ones that actually develop the models using data statistics to predict market trends they typically have phgs although this is not required next up Quant developers yo I’m a Quant developer now Quant developers are the ones that build the tech behind the training system they are the

coders who make it all work they have strong computer science foundations in Python C++ and sometimes languages like o camel Which is popular in Jan Street Fourth we have risk RIS quants what’s up guys I’m a risk Quant risk quants assess potential Financial Risk helping firms avoid

losses with precise risk models and lastly we have algorithmic quants sup homies I’m an algorithmic Quant these quants create the algorithms used for automated trading optimizing strategies to beat the market there’s many more but this is the basic foundation of the types of quants

regardless of the type of Quant role you choose to pursue you’re going to have to have a strong foundation in mathematics why because you need to be able to evaluate risk and more importantly all Quant firms will ask math related questions in their interviews to deduce your reasoning and

problem solving skills mathematics is directly related to whether you land a Quant role or not in general you want to be comfortable with linear algebra calculus probability and statistics and optimization problems luckily there’s great resources online such as KH Academy and free university

courses from MIT Princeton and Harvard breaking down these difficult topics one of my favorites is Harvard’s stat 110 course which is an introduction to statistics now apart from learning it’s also important to Showcase your skills in math competitions such as math olympiads and even

code forces to show your problem solving skills in the coding interview furthermore using sites like Quant questions IO can give you access to the exact questions asked by top Quant firms such as HRT sad and IMC from there you can get better sense of to the interview and land a Quant row and along

with that there’s also a great Discord community on Quant questions. so definitely check that out now as a short break crazy example of the interesting work quants are doing in the space is satellite imagery of oil tanks around the world now Quant wanted to figure out what is going to be the

price of oil before everyone else knows they realize with satellite imagery they could measure the shadow of each oil tank if a oil tank has more oil it’ll be taller and if has less oil it’ll be shorter and using this data they’re able to predict the price of oil before it’s

public and trade oil based on regions when supplies are low or high on to our next major topic of coding although not all Quant Fields require coding background it’s getting more and more comments to be needing some coding experiences to land these jobs as programs and data dictate most of

our trades it’s a valuable skill for every single Quant in terms of coding languages there are a lot of languages to get into such as the camel language used by Jam Street or the Q programming language used by Citadel however we’ll recommend it’s best to focus on the most commonly

used languages as there’ll be more resources for you to pull from when learning python C++ and R are definitely the most common languages recommended for their processing speed and their use in data manipulation and Analysis although python isn’t as fast as C++ or r it’s really

good in data manipulation and Analysis and quickly throwing up a program you want to learn the programming Basics from any course such as Harvard’s free CS course and it’s a good idea to specialize in data centered Fields such as data science and machine learning for Quan developers

there’s also great projects you can make and Implement yourself such as training models and Profitable trading programs another idea is making a black schs model I’m going to link a CashNews.co by coding Jesus in description that breaks down the black troll model

project that you can throw on to your resume now onto the stories of one of the most infamous Traders the vendor sing SRO he was frustrated that the new highfrequency trading Bots were dampening his own Profits so he made his own trading program that caused the 2010 US Stock and

future market crash and Profited him over $50 million this was called the flash crash and the idea was he’d basically spoof sale orders which would knock down a trillion dollars of values of American companies in a matter of minutes now on to our next major topic of financial

Theory and econometrics considering how you’ll be dealing with financial Markets daily all quants need to get at least a basic understanding of the field topics such as asset derivative

pricing Capital asset pricing models puts calls options Futures Risk Management the types of risk and common Financial models are all essential you’ll need to know furthermore econometrics covers essential tools for analyzing economic data

topics such as regression time series panel data analysis volatility modeling and co-integration are also things you should learn however don’t be scared you can learn all of this on the job many introductory Quant roles don’t require you know this before your first role you typically

learn these on the job and you won’t typically be quizzed on them in interviews and be warn if you’re a total beginner and you’re learning these topics don’t think you’ll be full-time Traders as you know most traders who think they can beat the market lose and you

probably can’t beat the market now the CashNews.co won’t go over these topics too much as they’re not emphasized in the Quant interview but if you want a full CashNews.co going over these drop a like and a comment degree in schooling how important is it and how much should you

focus on it depending on the type of qual you want to focus on it’s important to choose a career that matches generally you want to be a mathematics degree to get basic understanding with specializations in topics such as computer science data science statistics and probabilties is a great

one Actuarial science and comatron to name a few basically you want to have a strong foundation in mathematics regardless of the type of Quant roll you want to get now some people worry about whether the type of University affects the Quant roles they’ll be able to get I’ve seen people

from small schools and large schools get into high frequency training fir as some of the top firms like James S out is really important to show how you stand out and whether that be through your school or through your projects and your competitions regardless of how you stand out you can always get

Quant roles now onto companies and internships top companies are companies like Citadel Hudson River Trading auna Capital IMC trading and there’s a lot more but they all have applications for internships continuously available along with smaller competitions and programs to

help Foster Talent like I was saying before if you don’t go to a Target School these competitions are perfect to make yourself stand out in the application process keeping an eye out for these can really help you stand out against the competition and don’t forget there are many smaller

firms all around the world that can offer a great experience and help you get your foot into the door for Quant Finance so don’t be blindsided by the big names and make sure to get

experience when you can furthermore don’t let Prestige blind you even a small Quant position helps and Quant firms love it when you have any relevant experience in general Quant Finance

is extremely rewarding path to take with huge upsides although there’s a lot of hurdles you can pass through give it your best shot and don’t give up and you can possibly enter the world of Quant text-decoration: none;">Finance also don’t forget to check out Quant questions iio the leading Quant interview question platform to help you in your prep most of the questions on the site are free if you enjoy the content check out premium and really prep for your next Quant interview

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