Feasibility of landing a quant job as a fresh master of physics grad

Hi all,

So I graduated in June with a first class master of physics degree from the University of Manchester and am interested in algorithmic trading. Ultimately I would like to land an algorithmic trading position but I am not sure if this is feasible considering I am only educated to masters level from a "non-Ivy League" university.

To provide some context of my education and experience - my masters degree was highly quantitative and covered topics such as advanced statistics, programming (C++ / MATLAB/ python) and financial mathematics (mainly derivatives pricing) as well as the expected physics modules. My masters project was concerned with the development of a machine learning algorithm (Boosted Decision tree) to improve signal identification in massive noisy particle physics data sets. The algorithm I developed is a significant improvement on the previous industry standard algorithm (an additional 36% background rejection for a 95% signal efficiency working point). I have no experience in trading and have not completed an internship.

I am currently trying to familiarise myself with algo trading techniques and methodologies as well as the requisite technological infrastructure. QuantStart has proved an invaluable resource in this regard, I am focusing on the open source trading system that they provide, QSTrader, to further develop my understanding.

I was hoping the good people of elitetrader would be able to inform me on whether I stand a chance at landing a job and advise me on the best approach to take to achieve this goal. Any input is greatly appreciated!

Hi Tau,
I also went to Manchester, so don't beat yourself up :-)

Yes I used to work for AHL, and most of time I was there I was heavily involved with recruitment of graduates and fresh Phds.

Most of the advice on this thread is good. In terms of things you should be looking at, I'd add Hadoop to the list. You might not be aware that Man group (AHL's parent company) run a graduate programme, although of course you wouldn't start that until next year.

Also, given the choice between the following two options:

a) Waiting for the perfect non finance job, and
b) Getting a non finance job that uses your skills in machine learning, and spending your spare time learning more about finance

.... then (b) is by far the best option and will make it easier for you to get the finance gig after a year or two.

GAT
 
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I guess there's no harm in spamming that list, but I'd suggest you also speak with a reputable financial-industry recruiting group -- there are many in London. They'll know about opportunities at startup / emerging firms you've never heard of, as well as at the brand-names firms.
 
You have some funny things on your list:

I'd like to see you apply at Sun or KCG. That would be interesting.

You list Headlands but not Optiver? There are a few other conspicuos omissions.

For some reason, head hunters in London are better than Thise who are US based. No idea why.

This is a shrinking industry that is undergoing consolidation. Very few firms made money last summer so it's not the greatest time to be looking for a job.

You must be able to program. There is very little space for a pure quant these days at a trading firm.

I run a mid size (40ish) person trading firm. We are always opportunistically hiring.

EVERYONE is building out a bitcoin desk. There are particular challenges in this area and the tech is very poor. If you are willing to work crazy hours this might be your way in.
 
Hi Tau,
I also went to Manchester, so don't beat yourself up :)

Yes I used to work for AHL, and most of time I was there I was heavily involved with recruitment of graduates and fresh Phds.

Most of the advice on this thread is good. In terms of things you should be looking at, I'd add Hadoop to the list. You might not be aware that Man group (AHL's parent company) run a graduate programme, although of course you wouldn't start that until next year.

Also, given the choice between the following two options:

a) Waiting for the perfect non finance job, and
b) Getting a non finance job that uses your skills in machine learning, and spending your spare time learning more about finance

.... then (b) is by far the best option and will make it easier for you to get the finance gig after a year or two.

GAT

Hi GAT,

It's motivating to know that a fellow Manchester grad managed to succeed in the field :)

I've added Hadoop to the study list.

Would you be able to shed some light on the recruitment process at AHL? What were the traits and skills that were most attractive? Was emphasis placed on financial markets knowledge or was the candidates technical ability more important?

I've taken a look at the graduate scheme offered by Man and it looks great although I am somewhat hesitant as it mentions a placement in sales which doesn't particularly interest me. None the less I'll get in touch with them to find out more about the structure of the program, thank you for the heads up and the job advise its much appreciated!

I guess there's no harm in spamming that list, but I'd suggest you also speak with a reputable financial-industry recruiting group -- there are many in London. They'll know about opportunities at startup / emerging firms you've never heard of, as well as at the brand-names firms.

Good shout, can you recommend any reputable recruiting groups?

You have some funny things on your list:

I'd like to see you apply at Sun or KCG. That would be interesting.

You list Headlands but not Optiver? There are a few other conspicuos omissions.

For some reason, head hunters in London are better than Thise who are US based. No idea why.

This is a shrinking industry that is undergoing consolidation. Very few firms made money last summer so it's not the greatest time to be looking for a job.

You must be able to program. There is very little space for a pure quant these days at a trading firm.

I run a mid size (40ish) person trading firm. We are always opportunistically hiring.

EVERYONE is building out a bitcoin desk. There are particular challenges in this area and the tech is very poor. If you are willing to work crazy hours this might be your way in.

As mentioned in my post, the list provided was sourced from a youtube video so it is quite likely that it is neither comprehensive or completely applicable. I do intend on researching more institutions and subsequently shortlisting when I get round to applying. Thank you for informing me of Optiver, I have added it to my list. I welcome any other suggestions that you have.

I would say I have intermediate programming skills in both python and C++. I took three formal programming modules during my studies and during my masters project I further developed a sophisticated analysis infrastructure written in C++ and python which I inherited from a post-doc.

Are you currently hiring for junior positions? If so would I be able to forward you my resume?

I am certainly willing to apply myself and work crazy hours to break in, could you shed some light on how exactly I can capitalise on the current bitcoin craze to land a position?
 
Hi GAT,

It's motivating to know that a fellow Manchester grad managed to succeed in the field :)

I've added Hadoop to the study list.

Would you be able to shed some light on the recruitment process at AHL? What were the traits and skills that were most attractive? Was emphasis placed on financial markets knowledge or was the candidates technical ability more important?

Personally I like to see a demonstrable interest in the markets, intellectual curiosity, an ability to think for yourself, the skill of explaining complex subjects, and I can't stand people who BS.

GAT
 
Hi GAT,

It's motivating to know that a fellow Manchester grad managed to succeed in the field :)

I've added Hadoop to the study list.

Would you be able to shed some light on the recruitment process at AHL? What were the traits and skills that were most attractive? Was emphasis placed on financial markets knowledge or was the candidates technical ability more important?

I've taken a look at the graduate scheme offered by Man and it looks great although I am somewhat hesitant as it mentions a placement in sales which doesn't particularly interest me. None the less I'll get in touch with them to find out more about the structure of the program, thank you for the heads up and the job advise its much appreciated!



Good shout, can you recommend any reputable recruiting groups?



As mentioned in my post, the list provided was sourced from a youtube video so it is quite likely that it is neither comprehensive or completely applicable. I do intend on researching more institutions and subsequently shortlisting when I get round to applying. Thank you for informing me of Optiver, I have added it to my list. I welcome any other suggestions that you have.

I would say I have intermediate programming skills in both python and C++. I took three formal programming modules during my studies and during my masters project I further developed a sophisticated analysis infrastructure written in C++ and python which I inherited from a post-doc.

Are you currently hiring for junior positions? If so would I be able to forward you my resume?

I am certainly willing to apply myself and work crazy hours to break in, could you shed some light on how exactly I can capitalise on the current bitcoin craze to land a position?

Recruiters that aren't scumbags:

NFJ Search
Selby Jennings
GQR Global markets

Yes, it's a short list :-)

GAT
 
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