Hey all, I'm pretty early in my career (about 3.5 years in), and currently not on the buyside, or in a front office role.Most of my experience is at a large Fintech firm (think BBG), and some wealth mgmt experience. I have a finance degree, I can code in python and c++, and have good options and equity knowledge, which I'm still actively expanding on. I've built a handful of trading strategies, mostly focused on arbitrage but also in other areas. There are a few areas that interest me, in particular: - Derivatives Trading - Quant Trading/Research - Market Making - Arbitrage - Portfolio Management - Potentially Equity Research Ultimately, when my career is near the end, I'd like to have experienced and gained skills in: - Fundamental research and how to value companies - Utilizing my coding skills to create automated trading strategies on multiple time frames/ using math to find patterns in asset behavior - Experience on a trading desk, actually handling the trades for a PM or Market Maker - Arbitrage trading -Being the primary Asset Allocator for a fund or pod, preferably in a HF, but not tied to that I recently got laid off and have been applying to roles, but no luck yet. I'd love to get advice/mentorship from people in these areas on what path I should take, and what skills I should further develop. My main questions are: - I'm considering pursuing my CFA. Is the CFA still respected and worth it? I see a lot of chatter about how the quality has declined - I'm considering doing an MBA. Same comment as above, it seems like it's worth it is debatable for the cost depending on the school - Would an MFE be better than an MBA? I hear lots of MFE's can't find a job right now either - My main question is, what are some entry/junior-level roles I should be targeting that would get me started on the right track and allow me to expand into those different roles over the next decade?
why learn bad habits that do not make money - just trade and code and test - repeat over and over - the market will teach you.
If you interested in market making / arbitrage then apply for these firms: DRW, Jane Street, Optiver, SIG, etc There are lots of these types of firms. Go to the ICE or Eurex websites look up the member firms and apply to all that interest you. They will teach you how to trade - don't bother with more qualifications.
Do the CFA. Do the MBA. Do the MFE. Do everything you can (Especially for little to no cost). But I think the best is to knock on doors and ask for a job. Knock multiples time per year on a bunch of doors. Get some experience and move on.
is MFE masters in financial engineering? I remember financial mathematics was a thing in the late 90s; cash cow for universities. maybe MBA is ok for networking if you go to harvard or stanford or get your employer to pay. Where did you go to undergrad and major? People at these firms are all the same; no diversity. Go to where the action is: nyc, chicago, miami, houston (energy)
@SimpleMeLike (probally the smartest guy on this forum) please enlighten this guy about trading and his need for edumacation
go to WSO and hire a mentor. It'll cost you maybe $100 but in return you'll get someone who's exactly where you want to be, telling you exactly what you need to do. re quant side, you're competition is mainly ML wizards so you'll likely need to skill up to get in to most (proper) prop firms.
I suggest that you start doing "informational interviews." Develop a list senior of people in areas of interest to you. Contact them in writing (text, email, oh-my-god even regular mail). Explain that you are considering a career change, and you are hoping they can share a few minutes with you. Be very complimentary. Everyone enjoys talking about themselves. Your objective is to gather helpful information, but if you are sincere and impressive (!), you may find yourself in a job interview.