Career as a quant developer/analyst in Singapore
Hi. I'm a local undergrad studying Computer Science.
After much contemplation regarding the possible career paths, I realise financial remuneration is very important to me. Hence a career in the finance industry is very attractive. To that end, I wish to be a quant analyst. I want to start working as quant developer first to get a feel of the industry, and then transitioning to quant analyst by studying MFE overseas/locally. Will like to know more about the quant developer/analyst career paths in Singapore. Their salary, career progression and job prospects etc. Hope this thread serves as a reference point for other interested quant-wannabes 'coz I don't see a lot of such threads here. Thanks. |
Simple. Do really really well in whatever field of study. You can pretty much forget it if you can't get a first class. Be exceedingly good at probability and statistics. You will be interviewed and expected to solve a series of statistical problems on the spot. Only 1 person I know of among my cohort made it. He loved maths and has a PhD. Good luck.
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Good one. Good luck! Ensure that you don't spend 100% of your time studying. You must start networking with the right people now. |
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You can make alot money by quacking and conning people just start a new church |
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Since I am not a quant, nor a MFE, I would not be able to answer your questions with any detail of accuracy. I did hear his interview questions because i was the one who recommended him ti interview for the position. However, you might want to do 2 basic analysis: 1) % of students admitted to MFE with 2nd upper 2) % of students who managed to get a quant job after MFE. These should be relatively easy questions to answer compared to what you would get at an actual quant interview. |
Its good that you want to be a quant developer as there are very few locals who is very good in this field and there is demand for it. They need to be best of both worlds - Programming and Financial mathemathics. You also need to be proficient enough to challenge your business stakeholders (Quant guys) and speak on the same level with them to make your life easier. If money allows, best is to go for a Financial engineering masters on top of your current degree while working for an Investment Bank, preferably in the front office/Risk management as a Business Analyst/Analyst role to get yourself familiarise with the terms and jargons and also to fill up some experience in your resume.
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i'm on my way to being a quant, doing algo trades and stuff, but i don't think financial enumeration is getting better. quant jobs are largely disappearing, quant graduates are largely growing. singapore may be in demand for quants, but it's still relatively small unless the financial culture open up like in the U.S. HFT is still not common, and only tons and tons of regulations.
that said, risk management jobs are increasingly getting bigger and better, and in risk there are various roles including quant. you may want to consider comp finance, quant finance, or frm besides mfe. if u can handle excitement, become a trader. u don't need quant qualifications to trade, but having financial knowledge helps to know what you're up against - bond traders, option traders, equty traders who use statistical analysis to identify arbitrage. |
quants can make how much a year?
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U have to be exceedingly good in math to be a quant. I failed to enter NUS quantitative finance major with a first year CAP of 4.65. I suspect part of the reason is bcos I failed to give a satisfactory ans y I got a B+ for one of my math mod.
Also, my brief research about quant that time told me that Singapore does not offer much opportunities as a quant.. If u wan to be a quant u might have a better chance overseas. |
quant is so passe after 2008.
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really?
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So i say frontline staff can easily make $100,000 a month on basic, commission and bonus. Believe or not? |
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i think you are inflated the value of quant to unrealistic levels.. |
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Please name the firm which pays ~300k for a fresh grad for a quant position. |
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Don't have a false sense of high hopes guys. |
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Glassdoor salaries for d e shaw ard usd 135K
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Wow, I think my comment to the questioner is not to read this thread - everyone is pretty clueless here. You're better of asking this to someone in your university recruitment centre.
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$622,000 per employee, imagine what quants get given this info. |
Guys, let me shed some light on this matter from someone who is actually a quant (not risk management but quantitative trading) and actually knows about the companies and the figures.
From the top US school I graduated from, my room mates were seeking these sort of jobs. Some of them got it, straight from graduation, with high but not that exorbitant starting salaries. (figures roughly converted to SGD$ for easy comparison.) The highest salary someone coming straight out of undergraduate and working as a quant - $150,000. The place is Jane Street. First hand knowledge. That straight out of PhD - I would guess $220,000 is doable. The place is Renaissance Technologies. So why all this skepticism that these numbers are fake? Simply because most Singaporeans are not tuned into the quant scene outside Singapore. I'm thankful for my adventures in a top school where you are surrounded with this sort of talent that is worth this kind of money. When you are fighting with this sort of talent, it's not longer a matter of getting a first class. It's a matter of how well you can marry computer science, math and finance together. -Donny |
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Saw this for those who might be interested:
Macquarie hiring: We are looking for a front-office Quantitative Analyst to join a team dedicated to developing and maintaining the quantitative capabilities across FICC. The role is based in Singapore, and has a primary focus on the global FX businesses. The responsibilities of the Quantitative Analyst will be to: Develop and maintain our quantitative modelling library; Research and implement financial models for derivative valuation; Work closely with traders, structurers, and marketers, providing quantitative support; Liaise with other areas of the bank on model development and approval. We are seeking a candidate with: One to four years of experience as a front office quant; Outstanding academic achievements, with a PhD in a quantitative discipline (e.g. mathematics, physics or engineering); Strong knowledge of FX products, both vanilla & exotics; Good written and verbal communication skills and the ability to work autonomously and under pressure; Excellent programming skills - experience with C++ and Python will be advantageous. |
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Also, the average base starting pay in Goldman Sachs is around 110 to 130K USD for a physics PhD with zero finance experience. That sounds like a lot until you realize that you'd have to live in NYC... To be fair, the base salary for a PhD quant rises very quickly after 2 years. Also, the pay for a quant is adjusted for Singapore's tax level. Fresh quants in Singapore make less than quants in NYC after taxes. Then again, the level of quant work in Singapore is much less demanding technically speaking than those in HK, London and NYC. |
which 1 earn more? algo trader or quant pricer?
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Just writing here to clear up all the misinformation in this thread...
How do you become a quant? There are three ways: 1. Get a PhD or masters in a quantitative subject (math, physics, CS) 2. No PhD? Then get work experience at sell-side financial markets. 3. No work experience? Then be extremely good at programming. Brush up on your C++ and Python programming skills. It's very unlikely for someone to become a quant with just a bachelor's degree. If any degree holder tells you his job title is a "quant", he is most likely in a trading, risk, or software development role. It's getting even more competitive now with the flood of MFE graduates these days. Many of these MFE grads end up in risk management roles or software engineering roles (which are not too bad and pay quite decently too). |
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This is correct. However, I've know enough of the industry to summarize the link between title and work. The label "quant" gets thrown around quite often. The three main ones are quant analyst, quant researcher and quant developer. On one hand, you get quant analysts who do 90% programming and another quant developer who does 50% strategy. So for those who want to enter this industry, know this - "titles rarely matter, it's the work that does." Most of us aspiring to be in a revenue generating position. In line with what I just said, the track I recommend for most is to FIRST get into the fund as a quant XXX, SECOND do a good job and show that your undepensible, THIRD now ask for responsibilities that show you can generate revenue. As for the MFE's, how it coming along? Some say MFE is the masters you have to get to get into quant positions. I know my math and I know my industry. Knowing everything on stochastic calculus doesn't immediately give you the techniques to trade profitably. Don't fool me. Here are three examples how the MFE route doesn't work. 1) You know everything about stochastic calculus. You spend two years pricing an exotic option but soon realize the market doesn't trade it. No flow, no money. 2) Okay, so you did some project on machine learning. Either, your model has lost its edge once you push into the market. Or, it'll take another one year at least to iron out the naunces with you attempt to implement your model with prices from your fund's brokers. Your model is profitable with 10bps spread. Well, JPM is trading 20m EURs with 20bps spread. Doubt your model is gonna work. 3) All you learn in MFE is textbook industry established knowledge. Nothing new, no edge. Am I wrong? The point is, you want the quickest route to work on a model that is market tested. You do that in an actual fund not in MFE. |
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Hi, thanks for the very insightful discussion! Since the last post was 5 years ago, I was wondering if anyone can give an update on the quant market in Singapore today? (especially in light of the news that Citadel and DE Shaw setting up shop here).
I interned as an SWE in one of the BB last summer and have plans to pursue an MFE overseas. What are the chances of landing a quant job in Singapore 2-5 years from now? Thank you! |
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what if i have:
- a MFE - knows how to trade forex, indices, crypto - I'm mid 40s - but don't have trading track record eventual aim is to go towards algo trader role, will I be able to get a entry level job as a quant developer first? does hedge fund, banks for FI willingly to get me in? I presume age is a big consideration for them. even though having a MFE at mid 40s does shows my passion but passion is not the answer to cross over the door. |
Got offered desk quant role at squarepoint. Anyone knows if squarepoint is a good hedge fund?
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