Why haven't you take the /quant/ pill?

Why haven't you take the /quant/ pill?

is it even that profitable being a quant anymore?

/moral/ master race

Technically yes, it's still an _extremely_ profitable job.
The problem is that the cat is out of the bag and the field is so comically competitive that it's an absolute garbage career unless you have literally no values other than money. You get ultra-long hours, ultra-high stress, and unless you have the right friends your job is basically entirely dependent on factors you can't entirely control.
And there's so much competition for work that if you fuck up even once you're behind the eight-ball because there are so many American-Psycho motherfuckers with perfect resumes waiting to bump you out of internships or entry-level jobs.

...

because i live in a shithole country and my only hopes of getting to burgerland is to gamble my money with crypto .

and then you realize burgerland is a shithole as well, move to somewhere half way ok in the west at least

What is it actually like to be a quant? Before starting my math career I always thought they were some kind of masters of the universe, but now I see that the only people going into finance from my degree are the blithering idiots who can't really handle math.

Took the /actuary/ pill instead

>being a quant when you can just be an IB’er instead

i want to make decent money living easy, wat do i do?

i have integrity

good luck sending your kids to Stanford and paying with that.

my friend was a quant. he loved the work and everything, but hated the competition and the extreme demand that companies have on their employees; few holidays and few benefits, and if you do take time off, better start looking for a job elsewhere.
my condolences, i've yet to meet an actuary who doesn't, "i hate my job but the pay is great"
this desu senpai. if your mind is in the right place you can do what you like and trust yourself to keep moving up whatever ladder you've chosen to climb.

honest answer is becase it's fucking boring

Escort for quant freaks

Not my experience from working at a trading firm - the quants that interned with my year were these two little shy nerdy Asian people, a girl and a guy, with stats PhDs. Not some Patrick Bateman psychopath.

what are jobs where you can do math (that you can get with an applied math degree)?

As someone who needs a better job, how do I pursue a quant job? What qualifications do I need?

how the fuck are dollars private and digital?
aren't all bank-backed digital transactions traceable by the banks?

My grandfather did this, started his own company and is truly a master of his field, but he never stops working. You have to truly love the field to not "hate my job but love the pay"

CPA

Actuary isn't really that stressful of a job if you can do the math, you'll work 9 hour days while making significant sums of money

This, minus the American-psycho cliche. The vast majority of mathematicians are unlikely to get such a position because a) these positions are not exactly abundant, b) because the business is INSANELY competitive -- think about what it means to compete with firms that have almost omnipotent power in the modern era-- they will only hire the best, and c) even among the best, those who are well-connected are the most likely to get the position. The only mathematicians I have worked with that ended up in the stereotypical 'quant' position went to an Ivy-League and they established a considerable network, for a math geek.

A mediocre quant is an unemployed quant. If you don't meet the description above, consider software development, actuarial work, ect. Moreover, do something you actually enjoy. If you don't *actually* enjoy mathematical finance, it will be hard to work 70 hours a week for your fund.

But I am taking the /quant/ pill. Currently getting a Bsc. in Econometrics so I can pursue a Msc. in Quantitative Finance.

I must say tho that I don't recognize the complaints in this thread. Yes, it is demanding work where you have to be comfortable with making a lot of hours, but it's not as competitive as people make it out to be, at least not in the Netherlands. Here companies actively seek out Msc. students before they graduate. Qfin is not a popular degree here due to its difficulty, but obviously the skill set that consists of data analysis/applied mathematics/finance is very valuable to all kinds of companies. I guess it's different if you want to secure a quant/IB position on Wall Street, but from what I've seen and heard you don't really need to worry about a job with a Qfin degree.

Physical dollars user...

Are pure mathematicians with PhDs hired?

can i get into quantiative finance with an engineering degree?

I already have a degree in economics and finance

The modeling quants do is usually pretty simple. Complicated models just lead to overfitting.

But they usually look for people who are highly over qualified so they can think their way out of any potential shit hole they dig themselves into.

Yes. They are directly competing against silicon valley for talent, and salaries reflect this.

I have friends that get picked up on reputation. A lot of these groups seem to stuck on the "idea" of being smart. If you have an Ivy degree or Masters / PhD in Physics or of equal standing in mathematics, they'll probably hire you cause they don't know any better. They seem to think you're some kind of wizard cause everything they learned about STEM people came from movies. Which isn't bad, but it's fucking hilarious.

>A lot of these groups seem to stuck on the "idea" of being smart.

Yea thats the best description I've heard.

You've got to take a step back and think about what's really going on. Its a form of organized gambling. If you are a manager, you look over all of your quants and try to find some pattern that explains which ones are successful and which ones aren't. What ever pattern there is, its too complicated for you to really formalize, so you have to settle with "smart".

I once read an interview with a Quant hiring manager, and he had ridiculous superstitious rules like "I never hire from Wharton anymore because the last guy I hired from Wharton was horrible". These guys are looking for signal in the noise, but at least hiring from top schools is better than hiring some scum bag off a street corner.