UTS MQF

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UTS MQF

Postby againstthespread » Wed Apr 18, 2012 1:59 pm

Hi,

I'm going to finish my pure maths degree from an Australian university in Sydney at the end of the year, but I have failed to secure a graduate position at any of the big firms.

Where else should I be looking to apply if I want to break into quant finance and trading?

For reference:
No extracurriculars (I trade in my spare time, and am a part time (successful) professional gambler for the past 3 years. Nothing in terms of clubs/societies/volunteering though)
No relevant work experience
Overall just under credit average (My report and essay/assignment writing is not up to scratch for university standard.)
core subjects average just under HD



Is the MQF at UTS (University of Technology Sydney) likely to improve my chances of breaking into the quant finance sector?
More specifically, if I have an unrelated job and complete the MQF part time, will I have a decent chance or am I going to be in the same position as before (ie a waste of time).


Thanks
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Re: UTS MQF

Postby mj » Tue May 01, 2012 3:03 am

it could lead into a quantitative banking role. It might be something like risk or credit modelling rather than trading/quant, however.

Australian banks tend to be a little unimaginative when it comes to appreciating pure maths qualifications. Getting a masters in quantitative finance would you get past that.
mj
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Re: UTS MQF

Postby againstthespread » Tue May 01, 2012 5:08 pm

Thanks for the reply

mj wrote:it could lead into a quantitative banking role. It might be something like risk or credit modelling rather than trading/quant, however.


I am I right in assuming quant trading roles are not out of the question, but just very competitive/limited?


Australian banks tend to be a little unimaginative when it comes to appreciating pure maths qualifications. Getting a masters in quantitative finance would you get past that.


That's unfortunate, why is that the case in Australia? I'm often told pure maths majors and physics majors are highly respected by banks and other financial institutions in America.
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Re: UTS MQF

Postby mj » Tue May 01, 2012 8:56 pm

it's something odd about the Australian psyche. Degrees must be "relevant."

Part of it is that the top UK Univeristies don't offer BCom s so there isn't
a horde of BCom graduates.
mj
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Re: UTS MQF

Postby kinderchocolate » Wed May 02, 2012 6:16 am

The master degree will no doubt improve your chance, otherwise you would had no chance at all. Myself is a UTS MQF graduate. The degree itself is absolutely insufficient for a quant job. Mark Joshi cant tell you that because he hasn't done the course and he doesn't need to apply for a quant job.

The master itself is nothing for real quant roles. I know many classmates had unrelated degree and completed the master. None of my friend could secure a quant job, the best was an analyst role or advancing to phd.
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Re: UTS MQF

Postby againstthespread » Thu May 03, 2012 8:07 am

kinderchocolate wrote:The master degree will no doubt improve your chance, otherwise you would had no chance at all. Myself is a UTS MQF graduate. The degree itself is absolutely insufficient for a quant job. Mark Joshi cant tell you that because he hasn't done the course and he doesn't need to apply for a quant job.

The master itself is nothing for real quant roles. I know many classmates had unrelated degree and completed the master. None of my friend could secure a quant job, the best was an analyst role or advancing to phd.


Thanks for your input

A friend of mine works as a quant in Sydney, and he highly recommended me the MQF. However if it isn't well recognized maybe I should reconsider.

What do you classify as "unrelated degree"?

Are the "real quant roles" all going to applicants with PHD's?

Should I be looking at honours or an MSc instead?

Thanks
againstthespread
 
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Re: UTS MQF

Postby kinderchocolate » Mon May 07, 2012 6:55 am

againstthespread wrote:
kinderchocolate wrote:The master degree will no doubt improve your chance, otherwise you would had no chance at all. Myself is a UTS MQF graduate. The degree itself is absolutely insufficient for a quant job. Mark Joshi cant tell you that because he hasn't done the course and he doesn't need to apply for a quant job.

The master itself is nothing for real quant roles. I know many classmates had unrelated degree and completed the master. None of my friend could secure a quant job, the best was an analyst role or advancing to phd.


Thanks for your input

A friend of mine works as a quant in Sydney, and he highly recommended me the MQF. However if it isn't well recognized maybe I should reconsider.

What do you classify as "unrelated degree"?

Are the "real quant roles" all going to applicants with PHD's?

Should I be looking at honours or an MSc instead?

Thanks


Well, some did phd and some didn't. You don't need a phd to get into quant. But I think you will need a phd for a research role. Generally, the industry at least in Sydney value experience more than degrees. It's easy for someone who is already working as a quant switch job, but very difficulty for a newcomer to enter into the field.
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