Do I need a PhD in a quantitative field to get a job in algorithmic trading?

[qxr1011]

I am doing a Masters in theoretical physics from a top 3 university in Canada. I have recently become interested in algo trading, but I see that many of the roles in New York require a PhD. Is it enough to form connections and do many algo trading projects during my Masters in order to land a job?

follow your passion man (instead of the impulse of the moment)

is it in physics? then what has theoretical physics has to do with trading?

if its in trading? then what did u do in physics for so long?

u always wanted to become an institutional trader? then in college u should been concentrating in lacrosse (that's the filed where the financial industry looks for the potential traders)not in physics... monkey can be a trader in the fund , so does the lacrosse player and surely the theoretical physicist can too

suddenly there is an itch to sell yourself to the highers bidder and become the quant in the fund?

financial industry pays well but it requires you to become a slave , a door mat, a cocksucker (oh i am sorry, they call it team player)... want to get the PhD in that?

why not a hooker? they are also paid well ....they do not need PhD (and by the way neither is a quant) also some clients may feel flattered if you have it

what she differences between the cock-sucking literal and virtual (in the corporate world)? not much...

when realization will hit later of who ones become some people have a midlife crisis (not the former lacrosse players though )

bottom line - money is not everything, what one gives up on while making them is also important (for some at least)

 

[nightmarish]

It's also a way to justify H1B in case the employer wants to hire someone who will be an indentured servant.

Does this mean it's going to be difficult to find work in algo trading in either buy-side or sell-side in NYC if I do a Masters in Canada? To elaborate, I am neither a Canadian nor a US citizen.

 

[nightmarish]

The following two programs are going to be held in NYC:

1. https://www.eventbrite.com/e/iit-st...g-conference-2017-chicago-tickets-35856968157
2. https://www.arpm.co/bootcamp/

Are they worth attending?

The second one costs 1500 dollars, hence asking.

 

[Sig]

Does this mean it's going to be difficult to find work in algo trading in either buy-side or sell-side in NYC if I do a Masters in Canada? To elaborate, I am neither a Canadian nor a US citizen.

There is a visa program that is specifically available to non-U.S. citizens who obtain a degree at a U.S. university allowing them to work for a certain amount of time after graduation. This is generally the easiest way to get a visa and transition to a permanent work visa in the U.S. if you're from someplace like India. You wouldn't have access to it if you went to a Canadian university, which would be a huge disadvantage even if the Canadian university was equivalent to the U.S. university. However you'll find that most potential employers in the U.S. have next to zero brand recognition of any Canadian university, so you're far better off going to a University of Michigan (state school, not insanely expensive or super hard to get into but generally well regarded in engineering degrees) for example, then whatever the very best Canadian university is???

 

[nightmarish]

There is a visa program that is specifically available to non-U.S. citizens who obtain a degree at a U.S. university allowing them to work for a certain amount of time after graduation. This is generally the easiest way to get a visa and transition to a permanent work visa in the U.S. if you're from someplace like India. You wouldn't have access to it if you went to a Canadian university, which would be a huge disadvantage even if the Canadian university was equivalent to the U.S. university. However you'll find that most potential employers in the U.S. have next to zero brand recognition of any Canadian university, so you're far better off going to a University of Michigan (state school, not insanely expensive or super hard to get into but generally well regarded in engineering degrees) for example, then whatever the very best Canadian university is???

I suppose this means that my chances of breaking into algorithmic trading is virtually zero.

 

[Sig]

I suppose this means that my chances of breaking into algorithmic trading is virtually zero.

As an employer, I can tell you that you need to bring something special to the table that no-one else does for me to go to the effort to sponsor you for a work visa. Anecdotally I can tell you that most employers who have more than enough qualified applicants for a position (as would almost certainly be the case in algorithmic trading) will ask if you have permission to work in the U.S. and not even look at your application if you say no (please no whining about slave labor H1Bs here folks, we're talking about someone trying to get a job in algorithmic trading with a quant masters here).
I don't have to tell you life is about probabilities. You stack those probabilities as much as you can, i.e. go to a U.S. school with a strong finance program where you have a chance to make friendships with people in the quant field. It's still possible you could do some novel research you get published that you couple with some strong personal relationships you network yourself into that get you the perfect job. So your chances aren't zero. However I'd say your chances if you plan on applying to a job on the internet and uploading your resume without a U.S. work visa from a Canadian university are vanishingly slim, just to be brutally honest. But I'd be delighted if you came back 18 months from now and proved me wrong!

 

[nightmarish]

Thanks for the information. Would you know of Canadian buy-side and/or sell-side firms which accept applications in algorithmic trading?

 

[Sig]

Thanks for the information. Would you know of Canadian buy-side and/or sell-side firms which accept applications in algorithmic trading?

Sorry, can't help there but that doesn't mean there aren't some out there. Good luck!

 

[Van_der_Voort_4]

I suppose this means that my chances of breaking into algorithmic trading is virtually zero.

From other member @MrMuppet ,straight shooter post which i saved for myself,i recommend you give a it a reasonable thought

You want to work for a P/L desk? Then focus on delivering P/L. Your competition is not the PhD's who can code, but the selftaught guys in their 20's that are already positive and look for a way to step up their game.

It takes a village to raise a trader and they rather select a guy in his 20s who is positive/break even and already worked his ass off to get there than the wimp who can everything but trade and teach him the basics.

It's different for the big banks, but since you said you want to trade, they aren't an option for you anyways.

https://www.elitetrader.com/et/thre...e-for-trading-jobs.300720/page-7#post-4295884

 

[lovethetrade]

Thanks for the information. Would you know of Canadian buy-side and/or sell-side firms which accept applications in algorithmic trading?

Do a search for "algorithmic trading" on Linkedin, its all there for you to see. Most have at least a degree, know multiple programming languages and have at least a few years industry experience. I'm guessing you need to be proactive within the sector and try and build your contacts.