HOW TO GET ENTRY LEVEL QUANT JOB IN INDIA

Summary

The video discusses the pathway to securing an entry-level quantitative analyst job in India, where academic programs in quantitative finance are scarce but demand for such roles is high. It suggests that individuals with backgrounds in computer science, mathematics, statistics, and economics can aspire to this field, which offers competitive pay. The speaker recommends leveraging campus placements at top universities or networking on LinkedIn to break into the industry, highlighting that quantitative analysis is broader than just trading algorithms and includes modeling and risk management. The video also emphasizes the importance of initial job entry for freshers and the lucrative career prospects that follow.

Takeaways

• 📚 There are limited academic programs in quantitative finance in India, with few institutions offering relevant courses.
• 🏦 Despite the shortage of specialized programs, there is a high demand for quantitative analysts in India, with many international banks and consulting firms operating there.
• 🔢 Individuals with backgrounds in computer science, mathematics, statistics, physics, and economics can aspire to become quantitative analysts.
• 💰 The salary for a quantitative analyst is competitive, comparable to or better than software engineering roles in product companies.
• 🌐 Quantitative analysis is a broad field that encompasses not only trading algorithms but also quantitative modeling and risk management.
• 🎓 Campus placements at top universities like IIMs and central universities are a common route for entry-level quantitative analyst positions.
• 🤝 Networking on LinkedIn and connecting with professionals in the field can be an effective strategy for job seekers without campus placement opportunities.
• 📈 Quantitative analyst roles are unique in that they often consider freshers, unlike some other fields where experience is a prerequisite.
• 🚀 After gaining a few years of experience, quantitative analysts become highly sought after, with many opportunities coming their way without active job searching.
• 🔍 There is a lack of clear information about what quantitative analysts do, which can lead to misconceptions about the role and its scope.
• 🛠️ Skills in quantitative analysis can be transferable to other fields such as data science, offering flexibility for career transitions.

Q & A

What is the current state of academic programs related to quantitative finance in India?

There are not many academic programs in quantitative finance, financial engineering, or mathematical finance in India. However, there are a few programs like the one at the Indian Statistical Institute focusing on quantitative economics, and the Chennai Mathematical Institute offering a mathematical finance program.

Why is there a high demand for quantitative analysts in India despite the lack of specific academic programs?

There is a huge demand-supply gap for quantitative analysts in India, with over 1000 required annually, but only a couple of hundred produced. Many large investment banks and consulting firms have offices in India and hire quantitative analysts.

What alternative academic backgrounds can one have to become a quantitative analyst in India?

People with degrees in computer science, mathematics, statistics, physics, economics, and related fields can aspire to become quantitative analysts, even without specific quantitative finance education.

What is the typical salary range for an entry-level quantitative analyst in India compared to other jobs?

The salary for an entry-level quantitative analyst is as good as, or even better in some firms, than a software engineering job in a product company.

Which companies in India are known to hire quantitative analysts?

Major investment banks like Morgan Stanley, Bank of America, Nomura, Deutsche Bank, and consulting firms such as PwC, KPMG, and tech sourcing firms like Accenture, IBM, DCS, and Infosys hire quantitative analysts in India.

What does the term 'quant' encompass in the context of the job market?

Quant is a broad term that includes not only building trading algorithms but also quantitative modeling and risk management. There is a lack of clear information about what quants do, which can lead to misconceptions.

How can one get started in the field of quantitative finance if they are not from a university with campus placements?

One can connect with professionals in the field on LinkedIn, as many are helpful and some even post job opportunities for freshers without experience.

What are some alternative career paths for someone skilled in quantitative analysis?

Skills in quantitative analysis can be used in other fields such as data science, and one can switch careers to other areas if they choose to do so later on.

What opportunities are available for those who have completed their degree and are looking for jobs in quantitative finance?

Campus selections in universities like IIMs, central universities, and IITs offer opportunities for hiring by banks and other companies. Even without campus placements, LinkedIn networking can open up job opportunities.

How does the job market for quantitative analysts differ from other fields for freshers?

Unlike software engineering, where it is difficult for a fresher to get a job without a campus placement, there are many jobs suitable for freshers in quantitative finance, with companies even hiring people without experience.

What opportunities can one expect after gaining a few years of experience in quantitative finance?

After gaining two to three years of experience, many opportunities will come knocking, as HR and hiring companies will approach the individual, reducing the need to actively search for jobs.