Quote from mrclean:
Where do you guys think the best salary and/or overall job opportunities in finance exist for a current physics student? A PhD, possibly in mathematical finance, or an MBA.
The PhD would probably be better to land a quant job, but I've recieved ambiguous info. about that career from browsing around these boards... I've read that it's a highly competitive, high paying job that everyone wants and I've read horror stories about working 12 hrs a day as a computer monkey, programming code and taking crap from traders.
Also, can you get into business school strait out of college, or do you need to work for a while first? I still have a lot of learning to do about this whole financial industry.. thanx
Begin to read current financial periodicals in order that you may acquaint yourself with the financial industry. Give yourself about two years of this to get to ground zero.
Originally, you became a physics major for science reasons and now you are just dealing with scuttlebutt in your department associations and affiliations. Your department is not a feeder to the industry, presently.
The aspect of life that relates to making money has to do mostly with the ability to conceive of how money works in a societal and cultural setting. Money is unique in how it is moved from one place to another and just how valuable shepparding that movement really is. Regardless of any prior work at dealing with this movement by others, it is possible to, in any 18 month period, to re-establish the contemporary modus if one wishes.
On the other hand there are timeless fundamental approaches to maintaining the extant systems. They are tweeked continually, largely with technological refinements. See routing.
What is the best education for doing either? Informal education where thinking smart far exceeds thinking for long hours. The formal education backup (that precedes informal education) is best accomplished in a setting that merges the theoretical (for its mature and pristine qualities) and the applied (for its shear power in addressing real opportunities).
Obviously, the near miss is engineering education because engineering deals with materials iprimarily instead of money primarily.
Another near miss is business administration thread. It deals with business instead of money.
So to narrow the focus, we come to looking at using money as compared to moving money. Strangely the formal education available is focused on the use of money primarily. Too bad for those who wish to make money.
By now it is obvious to most that formal education prior to going to work to make money, deals with the concepts of flow. The better flow fields are electrical engineering and physics where the common interest is stuff like entropy and fields most all related to energy.
For me the key is using the first part of the 18 months to exact the rewards (just the method which is easily conceded to me) for what I am going to share or deliver to the needy (the outfit that wants to get the capital continually over time).
I take several cuts it turns out and they are less and less obvious.
The sequence I design for is as follows: comission units (x), market additions (xM), overrides (kxM), leverage(BkxM), and finally growth(nBkxM). X is in the range of .01 to .05; M builds up from the model (1) to 250 over the ramp up; K ranges between .15 and .30; B ranges between 12 and 20; and n is usually 4 per annum. Relative to the money flowing all seem to be neglible as the needy see and face me. My personal capacity is handling 5 needy's and my preference is about 3.
To look at a current opportunity, I see the net commission varying by a factor od almost 3. I am using all of these by not working exclusively and this enables me to mix the commissions as I desire. I max "flow". In the 18 months ramp up, the K keeps advancing linearly with an advance at leat quarterly. Leveraging occurs only once and is not shared with the needy at all. n is the purpose of what I do.
There is no way any quant (PhD) or MBA can do the n thing in a career working for a corporation. It is necessary for anyone who wnats max income to not be staff for a corporation. The corporation (needy) has to relate to you as the source for meeting their needs to inflow money.
To use excerpts from this thread and provide examples. Gates is not the wealthiest. In contracting with the wealthiest, the hook had to be new markets. Two avenues were designed to create the flow. Both were "outreach" to a growing segment of the population. Key asked Q in the first two hour meeting: When to you start Germany?
Health. SAT is contracted with one division of the largest. We commence a second division next week. One needy becomes two needies. We have unique single contract. The inital values were: x=.02; M=250;k=.167; B=TBD; and n>4. for parallel second division all values will be better. This is month 5. We have doubled the unit velocity during the pipeline filling. Since all staffing is salaried, the money making is done by C corp net profits in a closely held construct. Instead of the IPO thing a TFSE is used to affect the lone time leverage. To advance the n, the net x and all of k is throughput to the TFSE corp thus getting all increases in profits there at zero costs. The PE of the TFSE corp goes from nominal to "growth" within four quarters.
Go to college to learn how to make money by providing money flow to corporations as a contracted activity. By being unique to the neediest (very large corporations) each minute of thinking smart is very valuable. We have applicants that are willing to work for no salary.
as a finalist judge of the annual MBA schools shoot out, I get to see some prime candidates for employment. I will spent two days next week on a campus.
