Mathematical finance job - Investment banking/Quant Analyst

sdiff

I'm just going into sixth year and having done some research on careers I think an investment banking job is one that would interest me. Money is one reason obviously, but not the only one; I'm a mathematical person and I'd like a job that involves maths and numbers. I'm also interested in economics, current affairs and politics and I want a job that has a large room for progress and improvement. I'm aware and prepared for the working hours (I already wake up at 5 AM for swimming and some days dont finish school/studying till 8 PM). But I'd love some insight from people who have experience in this area.

What is a good degree? I'm aware that I'll be up against oxbridge/LSE/Ivy League/MIT people so I need to stand out. Right now my best option seems to be maths and economics in TCD, aiming for a 1:1 and working hard to do well in the schols. I could also probably make the uni swim team if that would help?

Is there anywhere in Dublin that I could get the job I'm looking for? I'm aware London/Wall street are where it's at but really I'd prefer to stay at home

I know there are different areas in finance/investment banking. I'd be looking for a mathematical one. "Quantitative Analyst" seems to be the right job for me. I'd love some details on this career if anyone has any.

Thanks in advance!

Notmyname

Well based on that post you certainly seem to have the personality for the job.

sdiff

Notmyname wrote: »

Well based on that post you certainly seem to have the personality for the job.

Why thank you

freeze4real

hello, there

I am also interested in getting a job in investment banking.

I study finance and economics in maynooth but my maths is crap.

There are loads of jobs in the Uk but few in ireland.

Although i have seen an advert for a junior quant analyst for 55000 here in ireland.

I cant find the link.


here's a link for a trader job.

http://jobs.efinancialcareers.com/job-4000000000545273.htm

sdiff

freeze4real wrote: »

hello, there

I am also interested in getting a job in investment banking.

I study finance and economics in maynooth but my maths is crap.

There are loads of jobs in the Uk but few in ireland.

Although i have seen an advert for a junior quant analyst for 55000 here in ireland.

I cant find the link.


here's a link for a trader job.

http://jobs.efinancialcareers.com/job-4000000000545273.htm

That looks great. Pity I'm not even in college yet :P thanks anyway, and good luck.

GEKKO135

From your post you have nailed pretty much everything an investment bank would look for in an individual. First and foremost get a very good leaving cert and go to Trinity or UCD. Investment banks tend to stick with what they know (oxbridge etc) so it's important, if you go to college in ireland, that you get into one they recognize. This is important because the application process in some IBs, is completely automated ie a computer will narrow down CVs with key words relating to education, experience and achievements.

Once your in college take part in more than just the swimming team. To get into an investment bank you need a CV that sets you apart. Take part in a marathon or/and get on the committee of a club or society other than the swimming team, a place on the committee of an economics or finance society would be perfect. I'm not sure how important it is for quants, but it's always a good idea to stay in check with current economic affairs. In the summer of your first year in college try and get a summer job in some sort of financial firm, it doesn't have to be an amazing job just one that fills a gap in your CV. Come Autumn of your penultimate year, apply to every IB in London for a place on their summer internship scheme. Getting into an internship gives you a solid chance of getting a job with that firm once you graduate. If you do get into an internship, work your balls off and show an interest.

I have a friend in London doing one and he's doing business and law in UCD. I also know another guy who's doing business and economics in Trinity and he's doing an internship too. So that's proof enough that it is possible.

As for IB jobs in Dublin, you can forget about it, they are few and far between. There are some up and coming trading firms though and companies like first derivatives who take on people with maths degrees. Don't know too much about them as i'm not big into maths myself.

Check these two websites out for a good overview of the IB industry. The forums can provide a lot of hints as to the type of questions that are asked in interviews etc...
http://www.wallstreetoasis.com/ and http://www.efinancialcareers.co.uk/

Good luck

sdiff

GEKKO135 wrote: »

Once your in college take part in more than just the swimming team.

Thank you very much. Yes I'd plan to take part actively in societies (phil, debating, politics). I presume that's what you mean?

freeze4real

just a sec guys whats the deal with joining a club.

sdiff

freeze4real wrote: »

just a sec guys whats the deal with joining a club.

Looks good on your CV.

kojack

I am actually in the middle of filling out my applications for internships in investment banks for next summer. I am studying acc. & fin. and going into 3rd year. My advice to you would be to start reading wall street journal and the likes to keep up to date with the markets and I am also teaching myself programming in c++ and also visual basic for excel as you will have to know how to make mathematical models. Best of luck with your career choice also and work hard and you will get the job you want

sdiff

kojack wrote: »

I am actually in the middle of filling out my applications for internships in investment banks for next summer. I am studying acc. & fin. and going into 3rd year. My advice to you would be to start reading wall street journal and the likes to keep up to date with the markets and I am also teaching myself programming in c++ and also visual basic for excel as you will have to know how to make mathematical models. Best of luck with your career choice also and work hard and you will get the job you want

Can I ask where are these investment banks? Are you looking at going abroad?

sdiff

Another question... Would MSISS in trinity be better then maths and economics? It includes Business and management, Quantitative analyasis, Information Systems, Personal Skills... Basically alot of Stats, Finance, Business, And mathematics

SGKM

"Investment Banking" is a very broad term - there are lots of divisions in investment banks - what area do you want to go into? The first thing you have to do is figure out where you want to be...

The high paying areas are the front office / revenue generating roles - primarily trading (equities, fixed income / bonds / currencies / commodities...), asset management, private equity, actual 'investment banking', i.e. mergers and acqusitions / corporate finance... I'd advise you to do a lot of reading on each individual area. Any front office role is mathematical, some more so than others, i.e. trading exotic options would be more quantative than corporate finance.

There are options in Ireland - the stockbrokers are the closest things Ireland has to investment banks but some of the main banks have some functions, albiet on a smaller scale - primarily trading, asset management, mergers and acqusitions / corporate finance. Most of the very high paying front office jobs internationally are in London and NY and are very competitive and difficult to get into, as Gekko said they tend to focus on the oxbridge scene so you do have to make yourself stand out.

I work in mergers and acqusitions / corporate finance and I do enjoy it but the big down side is that the hours can be long / unpredictable.

As for college courses, generally a quantative course would be best - Economics and Finance in UCD would be a good start, maybe BESS in Trinity but I'd imagine that it would lack the maths for a trading type role. Also consider actuary if you have the points. An interest in / understanding of economics and business is also very important for any role.

sdiff

SGKM wrote: »

"Investment Banking" is a very broad term - there are lots of divisions in investment banks - what area do you want to go into? The first thing you have to do is figure out where you want to be...

The high paying areas are the front office / revenue generating roles - primarily trading (equities, fixed income / bonds / currencies / commodities...), asset management, private equity, actual 'investment banking', i.e. mergers and acqusitions / corporate finance... I'd advise you to do a lot of reading on each individual area. Any front office role is mathematical, some more so than others, i.e. trading exotic options would be more quantative than corporate finance.

There are options in Ireland - the stockbrokers are the closest things Ireland has to investment banks but some of the main banks have some functions, albiet on a smaller scale - primarily trading, asset management, mergers and acqusitions / corporate finance. Most of the very high paying front office jobs internationally are in London and NY and are very competitive and difficult to get into, as Gekko said they tend to focus on the oxbridge scene so you do have to make yourself stand out.

I work in mergers and acqusitions / corporate finance and I do enjoy it but the big down side is that the hours can be long / unpredictable.

As for college courses, generally a quantative course would be best - Economics and Finance in UCD would be a good start, maybe BESS in Trinity but I'd imagine that it would lack the maths for a trading type role. Also consider actuary if you have the points. An interest in / understanding of economics and business is also very important for any role.

I admit I haven't examined each individual aspect of IB. Based on what I know quantitative analysis seems to be mathematical.
M&A, I've heard about that and it's working hours. Other then working hours, is it a stimulating job? What's the pay like (and how long have you been there?
In response to that last bit - MSISS would be a good degree? It's basically Maths+Economics+Finance+Programming, as well as teaching "personal skills" which it seems is also necessary.

x43r0

I recently finished college and started work in an investment bank in London - Canary Wharf.

I'm a bit late to this thread and as such, most topics have been covered already.

All I will add is that I wouldn't be so hung up on the status of where you go to Uni. In my experience, banks do tend to stick with what they know in terms of targeted hiring but not all banks hire from the same places. My bank for example took 12 grads and 3 interns from my university; more than they took from any UK college and the only Irish college they hired grads from. Saying that then, we didn't hear much, if anything, from the other banks which further emphasizes my point.

Also get involved as much in as much extra curricular activities as you can afford to (time-wise) during your time in university. I was heavily involved and it made my application process much easier

SGKM

sdiff wrote: »

I admit I haven't examined each individual aspect of IB. Based on what I know quantitative analysis seems to be mathematical.
M&A, I've heard about that and it's working hours. Other then working hours, is it a stimulating job? What's the pay like (and how long have you been there?
In response to that last bit - MSISS would be a good degree? It's basically Maths+Economics+Finance+Programming, as well as teaching "personal skills" which it seems is also necessary.

A quant in an IB has a really technical background like a PHD in maths or physics and does stuff like writing complex trading algorithms and hardcore technical research, if that's where you see yourself grand but I would guess that you havent researched this enough and wouldnt see yourself at that.

With regard to M&A, i've only worked in Dublin and have only been at it a couple of years but know the industry well and have mates in other IB areas here, in London and in NY. I like working in M&A as you learn lots about businesses and industries and how they work, which (in my view) leaves you better placed to go into industry or private equity after a couple of years. The hours arent that bad in Dublin, on average I do about 60 hours a week, if I'm working on a deal the hours will be more. To work in M&A you need an interest in business generally, accounting, financial theory (maths based) and to be able to get on with people. With regard to money, every area of investment banking pays well - my advice would be not to choose your area of preference based on money, pick the area which suits you best.

I found a brilliant website a couple of months ago written by an ex New York bulge bracket M&A banker and I thought it really hit the nail on the head for what the job is like, I'll see if I can dig it out for you.

You're biggest challange now is to pick a college course. I know nothing about MISS from Trinity, it sounds good on paper but I dont know how it's received. I would disagree with x43r0 on the college you go to, IB's do care, UCD and Trinity are the best regarded and have the best brand names in Ireland, hence they are the most demanded but that doesn't mean you wont end up with a chance of getting in if you go to UCC. The courses I would look into if I were you are BESS in Trinity, Maths & Economics in Trinity, Economics & Finance in UCD, B&L in UCD and Actuary in UCD.

I completely agree with x43r0 on extra curriculars - IB's are looking for straight A students from a top college who held down a part time job, had trials for Leinster in rugby, run a successful mini business on the side and can demonstrate an interest/understanding of finance by say, trading their own account i.e. all rounders who stand out.

sdiff

SGKM wrote: »

A quant in an IB has a really technical background like a PHD in maths or physics and does stuff like writing complex trading algorithms and hardcore technical research, if that's where you see yourself grand but I would guess that you havent researched this enough and wouldnt see yourself at that.

Maths is as much as a hobby for me as anything else so yes that sounds really good :P

SGKM

Well if you regard maths as a hobby then you're probably well suited to a quant role. Check out SIG, they have a trading operation in the IFSC and hire a fair few quant researchers.

x43r0

SGKM wrote: »

I would disagree with x43r0 on the college you go to, IB's do care, UCD and Trinity are the best regarded and have the best brand names in Ireland, hence they are the most demanded but that doesn't mean you wont end up with a chance of getting in if you go to UCC.

Just to nit pick a little there. What I meant was that it isn't always the case just going from my own example. My workplace hired exclusively from UCC this year and have done for the past couple of years having built up a sort of 'feeder' relationship