title
Interview with a quant trader

description
This is an extremely lucrative but pretty mysterious job that I know many people are interested in learning more about. In this video, I interview Worthan Kwan, a quant trader at a hedge fund to learn about his day to day, how much money people are really making, what the requirements are to become a quant trader, and much more! I also made a post a few weeks back crowdsourcing questions and I'm pretty proud to say that we got through almost all of them in this video :D ______________________________________________________________________ Resources mentioned in video: https://arithmetic.zetamac.com/ ______________________________________________________________________ You might also be interested in these videos: The Resume that got me my FAANG job (entry level data scientist): https://www.youtube.com/watch?v=vx-x-yXXE9I Day in the life of a FAANG Data Scientist: https://www.youtube.com/watch?v=lCi6fWuI8r4 How I learned SQL from Scratch in 11 Days to Pass my FANG SQL Interview: https://www.youtube.com/watch?v=vaD3ZFFNwhM ______________________________________________________________________ Timestamps: 00:00 Intro 00:40 His background 02:54 Why quant trading? 04:00 Why he did a masters in computer science 05:18 Day in the life of quant trader 09:23 Salary expectations + career growth 15:28 Words of warning 16:38 Why quant trading + how to get interview 19:22 Non traditional background? 22:14 Trading related projects 23:10 Interview tips 25:24 What math do you need 30:12 Quant trader vs research vs engineer 34:05 How stressful is the job 39:26 Lightning round 41:00 What he would have studied in undergrad 42:09 Advice for breaking into the field ______________________________________________________________________ Subscribe: https://www.youtube.com/channel/UC2UXDak6o7rBm23k3Vv5dww/?sub_confirmation=1 ______________________________________________________________________ Check out StrataScratch for SQL interview prep: https://stratascratch.com/?via=tina ______________________________________________________________________ Contact: youtube: youtube comments are by far the best way to get a response from me! I answer every single comment! linkedin: https://www.linkedin.com/in/tinaw-h/ (second preferred) email: hellotinah@gmail.com *If you're reaching out through linkedin or email, I can get back to you the fastest if you leave a youtube comment just letting me know that you reached out :) ______________________________________________________________________ *The StrataScratch affiliate program give me a small portion of the sales price at no cost to you. I'm currently not monetized and really appreciate your support in helping improve this channel! :) #QuantTrader #HedgeFund #QuantTraderInterview

detail
{'title': 'Interview with a quant trader', 'heatmap': [{'end': 1636.494, 'start': 1575.539, 'weight': 0.891}, {'end': 1763.162, 'start': 1732.955, 'weight': 0.706}, {'end': 2536.269, 'start': 2481.386, 'weight': 1}], 'summary': 'Explores the journey of a quant trader, covering the transition from investment banking to trading, insights into options trading, job opportunities in quantitative roles, algo trading strategies, roles and rewards in quantitative firms, and quant fund and trading insights, shedding light on expected earnings and career duration.', 'chapters': [{'end': 146.221, 'segs': [{'end': 146.221, 'src': 'embed', 'start': 19.062, 'weight': 0, 'content': [{'end': 22.384, 'text': 'is a very safe bet.', 'start': 19.062, 'duration': 3.322}, {'end': 23.624, 'text': "Today I'm agreeing to this.", 'start': 22.444, 'duration': 1.18}, {'end': 33.909, 'text': 'This is going to be a lot of fun and also much requested because the job of a quant trader is something that is considered lucrative and mysterious.', 'start': 24.465, 'duration': 9.444}, {'end': 35.79, 'text': 'So thank you for agreeing to this.', 'start': 34.229, 'duration': 1.561}, {'end': 37.771, 'text': "I feel like we're going to learn so much.", 'start': 35.81, 'duration': 1.961}, {'end': 40.312, 'text': "So without further ado, let's just jump into it.", 'start': 38.391, 'duration': 1.921}, {'end': 43.313, 'text': "So why don't we start off with just a brief intro about yourself.", 'start': 40.572, 'duration': 2.741}, {'end': 78.464, 'text': "I'm more than, I guess the easiest way got into investment banking for my junior year internship and found out, oh, this is not what I want to do.", 'start': 45.778, 'duration': 32.686}, {'end': 80.307, 'text': 'This is really not what I want to do.', 'start': 78.484, 'duration': 1.823}, {'end': 84.913, 'text': 'But granted, I did have a very good time studying general finance.', 'start': 81.548, 'duration': 3.365}, {'end': 87.035, 'text': 'I started trading my own portfolio in college.', 'start': 85.053, 'duration': 1.982}, {'end': 131.376, 'text': "It was something that I was really into, so I didn't want to, but i just knew that i wanted to be on that side.", 'start': 87.055, 'duration': 44.321}, {'end': 140.719, 'text': 'so i ended up going to upenn to do a computer science degree in the mcit program and i was in the same year as tina to get the technical background,', 'start': 131.376, 'duration': 9.343}, {'end': 146.221, 'text': 'not only to be able to code at a competent level, but also to have that on my resume,', 'start': 140.719, 'duration': 5.502}], 'summary': 'Discussion about transitioning from investment banking to quant trading, and pursuing a computer science degree at upenn.', 'duration': 127.159, 'max_score': 19.062, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/_77TxNGR21A/pics/_77TxNGR21A19062.jpg'}], 'start': 19.062, 'title': 'Exploring the journey of a quant trader', 'summary': 'Delves into the journey of a quant trader, emphasizing the transition from investment banking to trading, the pivotal decision to pursue a computer science degree at upenn, and the value of obtaining technical expertise for a successful career in trading.', 'chapters': [{'end': 146.221, 'start': 19.062, 'title': 'Exploring the journey of a quant trader', 'summary': 'Delves into the journey of a quant trader, highlighting the transition from investment banking to trading, the pivotal decision to pursue a computer science degree at upenn, and the value of obtaining technical expertise for a successful career in trading.', 'duration': 127.159, 'highlights': ['Transition from investment banking to trading', 'Decision to pursue a computer science degree at UPenn', 'Importance of technical expertise for a successful trading career']}], 'duration': 127.159, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/_77TxNGR21A/pics/_77TxNGR21A19062.jpg', 'highlights': ['Importance of technical expertise for a successful trading career', 'Decision to pursue a computer science degree at UPenn', 'Transition from investment banking to trading']}, {'end': 1100.483, 'segs': [{'end': 267.846, 'src': 'embed', 'start': 182.077, 'weight': 1, 'content': [{'end': 191.103, 'text': 'So what made you think that you wanted to go trading specifically? So I had been trading my own portfolio initially with stocks.', 'start': 182.077, 'duration': 9.026}, {'end': 198.13, 'text': "But, you know, when you have a small amount of It's boring.", 'start': 191.223, 'duration': 6.907}, {'end': 201.252, 'text': "And yeah, they don't move very much.", 'start': 199.691, 'duration': 1.561}, {'end': 204.976, 'text': "1% is not a lot when you don't have a lot of money.", 'start': 201.272, 'duration': 3.704}, {'end': 207.478, 'text': 'But options allow you to do leverage.', 'start': 205.536, 'duration': 1.942}, {'end': 212.402, 'text': 'But the thing with options are, as a derivative, they become much more complex.', 'start': 207.878, 'duration': 4.524}, {'end': 234.405, 'text': 'it well and to be able to understand the options market on a non-retail level,', 'start': 226.52, 'duration': 7.885}, {'end': 239.347, 'text': 'you do need some sort of technical background or at least enough math to understand.', 'start': 234.405, 'duration': 4.942}, {'end': 244.07, 'text': 'and when you want to go into an options trading firm, I really think that you really do.', 'start': 239.347, 'duration': 4.723}, {'end': 265.285, 'text': 'It was either computer science, physics or math, right?', 'start': 262.864, 'duration': 2.421}, {'end': 267.846, 'text': 'Those are the people who usually go into.', 'start': 265.305, 'duration': 2.541}], 'summary': 'Interest in trading sparked by desire for leverage and complexity of options, requiring technical or mathematical background.', 'duration': 85.769, 'max_score': 182.077, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/_77TxNGR21A/pics/_77TxNGR21A182077.jpg'}, {'end': 343.335, 'src': 'embed', 'start': 314.472, 'weight': 3, 'content': [{'end': 316.213, 'text': 'they like trade, but with models.', 'start': 314.472, 'duration': 1.741}, {'end': 316.833, 'text': 'What does that mean?', 'start': 316.253, 'duration': 0.58}, {'end': 321.867, 'text': "So it's difficult to pinpoint exactly for each person,", 'start': 318.186, 'duration': 3.681}, {'end': 330.05, 'text': "because whether you're a quant trader at a bank or you're a quant trader at a high frequency prop shop or you're a quant trader at a hedge fund,", 'start': 321.867, 'duration': 8.183}, {'end': 334.972, 'text': 'your day is going to look different, even within those specific categories, depending on where you are.', 'start': 330.05, 'duration': 4.922}, {'end': 343.335, 'text': 'So, for me and for the more senior traders that I see, the easiest way to explain it would be you know,', 'start': 335.793, 'duration': 7.542}], 'summary': 'Quant traders at different institutions have varying day-to-day experiences, making it difficult to define a standard model.', 'duration': 28.863, 'max_score': 314.472, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/_77TxNGR21A/pics/_77TxNGR21A314472.jpg'}, {'end': 668.753, 'src': 'embed', 'start': 595.642, 'weight': 6, 'content': [{'end': 654.204, 'text': "So when we think about quantitative funds, most of the time they're Citadels, the J2s in the world who have $200,000, $300,000 signed bonuses.", 'start': 595.642, 'duration': 58.562}, {'end': 656.905, 'text': 'But that is definitely an exception to the rule.', 'start': 654.844, 'duration': 2.061}, {'end': 661.068, 'text': 'I think your first year minus your bonus.', 'start': 657.006, 'duration': 4.062}, {'end': 668.753, 'text': 'if there is one for performance, you can expect a high five figures into the six figures, depending on where it is.', 'start': 661.068, 'duration': 7.685}], 'summary': 'Quantitative funds like citadels and j2s offer $200,000 to $300,000 signed bonuses, with first-year earnings ranging from high five figures to six figures.', 'duration': 73.111, 'max_score': 595.642, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/_77TxNGR21A/pics/_77TxNGR21A595642.jpg'}, {'end': 803.419, 'src': 'embed', 'start': 779.155, 'weight': 0, 'content': [{'end': 786.516, 'text': 'right now, election years the quant firms do well and people tend to you know, of course do well with them.', 'start': 779.155, 'duration': 7.361}, {'end': 787.516, 'text': 'Gotcha, gotcha.', 'start': 786.916, 'duration': 0.6}, {'end': 795.017, 'text': "And let's say, after five years you know, once you consider a senior or a desk head how much are we spending here?", 'start': 787.856, 'duration': 7.161}, {'end': 803.419, 'text': 'When you get into a desk head, I think you can consider the bonus on the scale of a senior VP or an MD trader.', 'start': 795.037, 'duration': 8.382}], 'summary': 'Quant firms thrive in election years, leading to financial success for individuals. consider spending on senior and desk head positions.', 'duration': 24.264, 'max_score': 779.155, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/_77TxNGR21A/pics/_77TxNGR21A779155.jpg'}, {'end': 1072.303, 'src': 'embed', 'start': 1048.165, 'weight': 5, 'content': [{'end': 1056.625, 'text': "Uh, I think there's a lot of people who are mathy who want to do finance, um, There's a lot of people who enjoy the dynamic part of markets.", 'start': 1048.165, 'duration': 8.46}, {'end': 1060.968, 'text': "It's like, honestly, I know it's a cliche, but the day is always different.", 'start': 1056.765, 'duration': 4.203}, {'end': 1062.048, 'text': "There's always a new challenge.", 'start': 1060.988, 'duration': 1.06}, {'end': 1072.303, 'text': 'Those are some of the big ones people who like finance, who are math people, people who like challenges, people who like dynamic jobs.', 'start': 1062.769, 'duration': 9.534}], 'summary': 'Many math-minded individuals pursue finance for its dynamic and challenging nature.', 'duration': 24.138, 'max_score': 1048.165, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/_77TxNGR21A/pics/_77TxNGR21A1048165.jpg'}], 'start': 146.221, 'title': 'Transitioning to options trading & quant trader career insights', 'summary': 'Covers the transition from investment banking to options trading, highlighting its appeal for leverage and complexity. it also provides insights into the daily activities, educational background, and expected earnings of quant traders, with entry-level salaries ranging from high five to six figures, and potential mid-six figure earnings after five years.', 'chapters': [{'end': 212.402, 'start': 146.221, 'title': 'Transition from investment banking to trading', 'summary': 'Discusses the transition from investment banking to trading, emphasizing the appeal of options trading due to its potential for leverage and complexity, as well as the limitations of stock trading for individuals with small portfolios.', 'duration': 66.181, 'highlights': ['Options trading allows for leverage, making it more appealing than stock trading for individuals with limited funds. Options provide the potential for leverage, offering a solution to the limited movement and boredom experienced in stock trading due to small portfolio sizes.', "Transition from investment banking to trading, specifically delving into the appeal of options trading. The individual's shift from investment banking to trading, with a focus on the allure of options trading due to its potential for leverage and complexity."]}, {'end': 706.68, 'start': 226.52, 'title': 'Quant trader career insights', 'summary': 'Provides insights into the daily activities of a quant trader, the educational background required, and the expected earnings, with entry-level salaries ranging from high five figures to six figures.', 'duration': 480.16, 'highlights': ['The day-to-day activities of a quant trader involve analyzing news, options pricing, and making trades based on inefficiencies and mispricings, similar to stock trading. Quant traders analyze news, options pricing, and make trades based on inefficiencies and mispricings, with entry-level salaries ranging from high five figures to six figures.', 'Educational backgrounds in computer science, physics, math, or math-heavy economics like the UChicago program are preferred for roles in options trading firms. Preferred educational backgrounds for options trading firms include computer science, physics, math, or math-heavy economics like the UChicago program.', 'Entry-level quant traders can expect high five figures to six figures in their first year, minus bonuses, with top firms offering $200,000 to $300,000 sign-on bonuses. Entry-level quant traders can expect high five figures to six figures in their first year, minus bonuses, with top firms offering $200,000 to $300,000 sign-on bonuses.']}, {'end': 1100.483, 'start': 706.72, 'title': 'Quant trader career insights', 'summary': 'Discusses the potential earnings of quant traders, with mid-six figures being reliable after five years, and reaching senior level bonuses comparable to those of senior vps or md traders. the discussion also covers the appeal of quant trading and the channels to approach for quant trader opportunities.', 'duration': 393.763, 'highlights': ['Quant traders can expect mid-six figures after five years, with the potential to earn senior-level bonuses comparable to senior VPs or MD traders. After five years, quant traders can reliably earn mid-six figures, with the potential to receive senior-level bonuses comparable to those of senior VPs or MD traders.', 'The appeal of quant trading lies in its dynamic nature, attracting individuals interested in finance, math, challenges, and dynamic jobs. Quant trading appeals to individuals interested in finance, math, dynamic challenges, and jobs with a dynamic nature.', 'To approach quant trader opportunities, individuals can research the top quant funds and explore firms specializing in quantitative trading. To explore quant trader opportunities, individuals can research the top quant funds and firms specializing in quantitative trading.']}], 'duration': 954.262, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/_77TxNGR21A/pics/_77TxNGR21A146221.jpg', 'highlights': ['Quant traders can expect mid-six figures after five years, with the potential to earn senior-level bonuses comparable to senior VPs or MD traders.', 'Options trading allows for leverage, making it more appealing than stock trading for individuals with limited funds.', 'Transition from investment banking to trading, specifically delving into the appeal of options trading.', 'The day-to-day activities of a quant trader involve analyzing news, options pricing, and making trades based on inefficiencies and mispricings, similar to stock trading.', 'Educational backgrounds in computer science, physics, math, or math-heavy economics like the UChicago program are preferred for roles in options trading firms.', 'The appeal of quant trading lies in its dynamic nature, attracting individuals interested in finance, math, challenges, and dynamic jobs.', 'Entry-level quant traders can expect high five figures to six figures in their first year, minus bonuses, with top firms offering $200,000 to $300,000 sign-on bonuses.', 'To approach quant trader opportunities, individuals can research the top quant funds and explore firms specializing in quantitative trading.']}, {'end': 1521.916, 'segs': [{'end': 1129.233, 'src': 'embed', 'start': 1100.483, 'weight': 0, 'content': [{'end': 1101.924, 'text': 'some of them have smaller hiring quotas.', 'start': 1100.483, 'duration': 1.441}, {'end': 1102.925, 'text': "They aren't hiring all the time.", 'start': 1101.944, 'duration': 0.981}, {'end': 1104.806, 'text': 'Some of them are hiring every year.', 'start': 1102.985, 'duration': 1.821}, {'end': 1105.727, 'text': 'They always have a program.', 'start': 1104.846, 'duration': 0.881}, {'end': 1109.131, 'text': "I'd say there are around five that are always hiring.", 'start': 1106.588, 'duration': 2.543}, {'end': 1113.816, 'text': 'And then there are a number of regional firms who will be hiring regardless of where you are.', 'start': 1109.211, 'duration': 4.605}, {'end': 1119.102, 'text': 'Of course, you know, New York, Chicago definitely is number one.', 'start': 1114.217, 'duration': 4.885}, {'end': 1122.146, 'text': 'But any big city at least will have a few.', 'start': 1119.963, 'duration': 2.183}, {'end': 1125.709, 'text': 'Definitely reach out there where you go to school.', 'start': 1122.726, 'duration': 2.983}, {'end': 1127.351, 'text': "If you're..", 'start': 1126.971, 'duration': 0.38}, {'end': 1129.233, 'text': 'You know, not in the US.', 'start': 1128.252, 'duration': 0.981}], 'summary': 'Around five firms are always hiring, with regional firms hiring regardless of location.', 'duration': 28.75, 'max_score': 1100.483, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/_77TxNGR21A/pics/_77TxNGR21A1100483.jpg'}, {'end': 1164.579, 'src': 'embed', 'start': 1139.282, 'weight': 1, 'content': [{'end': 1144.726, 'text': "those ones you're going to have to Google around or go on LinkedIn and find you know they're looking for one or two people.", 'start': 1139.282, 'duration': 5.444}, {'end': 1148.049, 'text': "but it's always worth it to give a shot, always worth it to send in a resume.", 'start': 1144.726, 'duration': 3.323}, {'end': 1148.51, 'text': 'you never know.', 'start': 1148.049, 'duration': 0.461}, {'end': 1155.694, 'text': 'And Just because there are a number of firms, but there are less jobs than other industries.', 'start': 1149.27, 'duration': 6.424}, {'end': 1160.396, 'text': 'You know, take your shot, right? Once you get into the industry, everything becomes easier after that point.', 'start': 1156.114, 'duration': 4.282}, {'end': 1161.117, 'text': "That's true.", 'start': 1160.697, 'duration': 0.42}, {'end': 1162.077, 'text': "It's always the first step.", 'start': 1161.157, 'duration': 0.92}, {'end': 1163.658, 'text': 'All right.', 'start': 1162.197, 'duration': 1.461}, {'end': 1164.579, 'text': 'Second question.', 'start': 1164.058, 'duration': 0.521}], 'summary': "In a competitive industry, it's worth applying to limited job openings for a chance to break in.", 'duration': 25.297, 'max_score': 1139.282, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/_77TxNGR21A/pics/_77TxNGR21A1139282.jpg'}, {'end': 1227.137, 'src': 'embed', 'start': 1200.004, 'weight': 2, 'content': [{'end': 1207.386, 'text': 'In most schools, finance is a very non-math major, right? And econ at a non-math school is a non-math major.', 'start': 1200.004, 'duration': 7.382}, {'end': 1215.57, 'text': 'So I myself am not a traditional candidate what I would say is you need to know enough math to pass the interview.', 'start': 1207.547, 'duration': 8.023}, {'end': 1216.851, 'text': "It's not hard math.", 'start': 1215.83, 'duration': 1.021}, {'end': 1218.872, 'text': "It's something that you can learn.", 'start': 1217.051, 'duration': 1.821}, {'end': 1221.313, 'text': "There's a number of books about it.", 'start': 1218.932, 'duration': 2.381}, {'end': 1227.137, 'text': "There's one I can't remember off the top of my head, but I'll let you know and then you can put it in the description or something.", 'start': 1221.433, 'duration': 5.704}], 'summary': 'Finance and economics at non-math schools require basic math skills for interviews, with learnable content and resources available.', 'duration': 27.133, 'max_score': 1200.004, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/_77TxNGR21A/pics/_77TxNGR21A1200004.jpg'}, {'end': 1406.564, 'src': 'embed', 'start': 1377.288, 'weight': 3, 'content': [{'end': 1381.05, 'text': 'even just something to show some interest in the area, right.', 'start': 1377.288, 'duration': 3.762}, {'end': 1384.784, 'text': "um, because they will notice that you're doing that.", 'start': 1381.05, 'duration': 3.734}, {'end': 1389.327, 'text': "And like I said before, getting the automated interview isn't too tough.", 'start': 1385.344, 'duration': 3.983}, {'end': 1394.472, 'text': "So as long as you show some interest, you have a better shot than the person who didn't.", 'start': 1389.568, 'duration': 4.904}, {'end': 1396.453, 'text': "And that's sometimes all it takes.", 'start': 1394.672, 'duration': 1.781}, {'end': 1406.564, 'text': "Now, having some rough idea about their domain, I would say, In many cases, that's enough, but it depends on your background.", 'start': 1396.974, 'duration': 9.59}], 'summary': 'Showing interest in the area increases chances in automated interviews.', 'duration': 29.276, 'max_score': 1377.288, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/_77TxNGR21A/pics/_77TxNGR21A1377288.jpg'}, {'end': 1497.661, 'src': 'embed', 'start': 1468.339, 'weight': 4, 'content': [{'end': 1472.622, 'text': "they want to make sure you're legit and that you're not pretending to be someone else.", 'start': 1468.339, 'duration': 4.283}, {'end': 1474.123, 'text': 'so domain knowledge is enough,', 'start': 1472.622, 'duration': 1.501}, {'end': 1482.25, 'text': 'But be careful about overstating your knowledge and know that your background does dictate kind of what you need to know.', 'start': 1475.044, 'duration': 7.206}, {'end': 1484.192, 'text': 'And so for some people, that will be a benefit.', 'start': 1482.51, 'duration': 1.682}, {'end': 1485.633, 'text': 'They need to know a little bit less.', 'start': 1484.612, 'duration': 1.021}, {'end': 1491.397, 'text': 'And for some people, you know, maybe you should sharpen up a little bit on either your math or your finance knowledge.', 'start': 1485.673, 'duration': 5.724}, {'end': 1497.661, 'text': "That's really interesting, because it's quite different from the way that a lot of software engineering and data science interviews are,", 'start': 1492.338, 'duration': 5.323}], 'summary': 'Domain knowledge important, background dictates needed knowledge, sharpen up on math or finance.', 'duration': 29.322, 'max_score': 1468.339, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/_77TxNGR21A/pics/_77TxNGR21A1468339.jpg'}], 'start': 1100.483, 'title': 'Job opportunities and quantitative roles', 'summary': 'Covers job availability in major cities, with five firms hiring and regional firms offering positions. it also discusses the path to landing a quantitative role in finance, emphasizing math knowledge, interview preparation, and domain interest.', 'chapters': [{'end': 1155.694, 'start': 1100.483, 'title': 'Job opportunities in major cities', 'summary': 'Discusses the availability of job opportunities in major cities, with around five firms always hiring and regional firms also offering positions, but mentions the challenge of finding smaller firms with fewer job openings.', 'duration': 55.211, 'highlights': ['The availability of job opportunities is prominent in major cities, with around five firms consistently hiring and regional firms also offering positions.', 'The challenge lies in finding smaller firms with fewer job openings, which may require using platforms like LinkedIn or conducting thorough online searches.', 'Job availability varies, with some firms having smaller hiring quotas and not hiring all the time.']}, {'end': 1521.916, 'start': 1156.114, 'title': 'Quantitative role in finance', 'summary': 'Discusses the path to landing a quantitative role in finance, emphasizing the importance of math knowledge, passing the interview, showing interest in the domain, and being cautious about overstating domain knowledge.', 'duration': 365.802, 'highlights': ["The chapter emphasizes the importance of knowing enough math to pass the interview and mentions that it's not hard math and can be learned. Knowing enough math to pass the interview is crucial, and it's highlighted that it's not hard math and can be learned.", 'It is mentioned that showing interest in the domain and demonstrating some knowledge or involvement, such as through projects or club participation, can increase the chances of getting an interview. Showing interest in the domain through projects or club participation can improve the chances of getting an interview.', 'Caution is advised against overstating domain knowledge, as it can lead to challenges during the interview process. Overstating domain knowledge can lead to challenges during the interview process, and caution is advised in this regard.']}], 'duration': 421.433, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/_77TxNGR21A/pics/_77TxNGR21A1100483.jpg', 'highlights': ['Job availability is prominent in major cities, with around five firms consistently hiring and regional firms also offering positions.', 'The challenge lies in finding smaller firms with fewer job openings, which may require using platforms like LinkedIn or conducting thorough online searches.', "The chapter emphasizes the importance of knowing enough math to pass the interview and mentions that it's not hard math and can be learned.", 'Showing interest in the domain through projects or club participation can improve the chances of getting an interview.', 'Caution is advised against overstating domain knowledge, as it can lead to challenges during the interview process.']}, {'end': 1818.753, 'segs': [{'end': 1613.297, 'src': 'embed', 'start': 1588.42, 'weight': 0, 'content': [{'end': 1596.344, 'text': "You shouldn't technically, it does help to know math, of course, but in theory, you can figure out all the questions without any high level math.", 'start': 1588.42, 'duration': 7.924}, {'end': 1603.79, 'text': "Um, and that's why I think the two most important areas probably to learn are probability combinatorics.", 'start': 1597.225, 'duration': 6.565}, {'end': 1608.774, 'text': 'Um, those are the ones that are the most logically based and the ones that are most likely for you to test on.', 'start': 1604.05, 'duration': 4.724}, {'end': 1613.297, 'text': "Um, if you want to go on Glassdoor, I'd say the vast majority of questions are all about that.", 'start': 1608.794, 'duration': 4.503}], 'summary': 'Probability and combinatorics are key areas for technical interviews, with the majority of questions on glassdoor focused on them.', 'duration': 24.877, 'max_score': 1588.42, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/_77TxNGR21A/pics/_77TxNGR21A1588420.jpg'}, {'end': 1663.669, 'src': 'heatmap', 'start': 1575.539, 'weight': 2, 'content': [{'end': 1587.059, 'text': 'But what I did is I targeted what I knew to what would be applicable to my job, which is, you know, mental math, brain teaser style math.', 'start': 1575.539, 'duration': 11.52}, {'end': 1588.4, 'text': 'Jane Street is the most famous for this.', 'start': 1587.099, 'duration': 1.301}, {'end': 1596.344, 'text': "You shouldn't technically, it does help to know math, of course, but in theory, you can figure out all the questions without any high level math.", 'start': 1588.42, 'duration': 7.924}, {'end': 1603.79, 'text': "Um, and that's why I think the two most important areas probably to learn are probability combinatorics.", 'start': 1597.225, 'duration': 6.565}, {'end': 1608.774, 'text': 'Um, those are the ones that are the most logically based and the ones that are most likely for you to test on.', 'start': 1604.05, 'duration': 4.724}, {'end': 1613.297, 'text': "Um, if you want to go on Glassdoor, I'd say the vast majority of questions are all about that.", 'start': 1608.794, 'duration': 4.503}, {'end': 1620.162, 'text': "And the people who are getting questions that are not are probably math undergrads or math graduate students that they're trying to see.", 'start': 1613.317, 'duration': 6.845}, {'end': 1621.844, 'text': 'okay, how quantity is this person really?', 'start': 1620.162, 'duration': 1.682}, {'end': 1630.19, 'text': "on the job, the level of math you're using is not anything close to the courses that you were saying or the courses that you asked about.", 'start': 1622.464, 'duration': 7.726}, {'end': 1633.572, 'text': "those ones are much higher, and i'm not trying to tell you not to take them.", 'start': 1630.19, 'duration': 3.382}, {'end': 1636.494, 'text': "if you're interested in math, they will definitely help you on the job.", 'start': 1633.572, 'duration': 2.922}, {'end': 1640.057, 'text': "they're just more niche and they aren't something you'd be using day to day.", 'start': 1636.494, 'duration': 3.563}, {'end': 1642.679, 'text': "there's something that you, as a very high level math person,", 'start': 1640.057, 'duration': 2.622}, {'end': 1649.673, 'text': 'might incorporate in your algo As an aside for practicing algo trading and for implementing them.', 'start': 1642.679, 'duration': 6.994}, {'end': 1653.558, 'text': 'Quantopian, which is this website you can Google, is a fantastic,', 'start': 1649.673, 'duration': 3.885}, {'end': 1663.669, 'text': "fantastic resource for people who don't have access to high-level data or who don't have access to sophisticated databases that normal people wouldn't have access to.", 'start': 1653.558, 'duration': 10.111}], 'summary': 'To excel at jane street, focus on mental math, probability, and combinatorics, as the job requires low-level math and algorithmic trading skills. quantopian is a great resource for those without access to high-level data.', 'duration': 41.205, 'max_score': 1575.539, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/_77TxNGR21A/pics/_77TxNGR21A1575539.jpg'}, {'end': 1763.162, 'src': 'heatmap', 'start': 1732.955, 'weight': 0.706, 'content': [{'end': 1734.095, 'text': 'it was very logic based.', 'start': 1732.955, 'duration': 1.14}, {'end': 1735.756, 'text': 'And they also cared a lot about speed.', 'start': 1734.135, 'duration': 1.621}, {'end': 1739.817, 'text': "I think that's the one factor that people may not realize.", 'start': 1735.796, 'duration': 4.021}, {'end': 1741.257, 'text': 'And you touched on it a little bit as well.', 'start': 1739.837, 'duration': 1.42}, {'end': 1742.458, 'text': 'I just kind of wanted to bring that up.', 'start': 1741.277, 'duration': 1.181}, {'end': 1744.678, 'text': "It's like how fast you're listening on the spot.", 'start': 1742.698, 'duration': 1.98}, {'end': 1746.879, 'text': 'It seems like a lot of the questions were targeted at that.', 'start': 1744.918, 'duration': 1.961}, {'end': 1753.24, 'text': "Yeah, so there's a website called Zetamax, Z-E-T-A-M-A-X, I believe.", 'start': 1747.259, 'duration': 5.981}, {'end': 1757.681, 'text': "Zetamax, maybe Z-E-T-M-A-C, but we'll link that.", 'start': 1753.28, 'duration': 4.401}, {'end': 1759.681, 'text': "I think she'll link that as well.", 'start': 1757.741, 'duration': 1.94}, {'end': 1763.162, 'text': 'But that is the only thing that I use to practice speed.', 'start': 1760.061, 'duration': 3.101}], 'summary': 'Emphasized speed in logic-based questions, using zetamax for speed practice.', 'duration': 30.207, 'max_score': 1732.955, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/_77TxNGR21A/pics/_77TxNGR21A1732955.jpg'}, {'end': 1771.283, 'src': 'embed', 'start': 1742.698, 'weight': 3, 'content': [{'end': 1744.678, 'text': "It's like how fast you're listening on the spot.", 'start': 1742.698, 'duration': 1.98}, {'end': 1746.879, 'text': 'It seems like a lot of the questions were targeted at that.', 'start': 1744.918, 'duration': 1.961}, {'end': 1753.24, 'text': "Yeah, so there's a website called Zetamax, Z-E-T-A-M-A-X, I believe.", 'start': 1747.259, 'duration': 5.981}, {'end': 1757.681, 'text': "Zetamax, maybe Z-E-T-M-A-C, but we'll link that.", 'start': 1753.28, 'duration': 4.401}, {'end': 1759.681, 'text': "I think she'll link that as well.", 'start': 1757.741, 'duration': 1.94}, {'end': 1763.162, 'text': 'But that is the only thing that I use to practice speed.', 'start': 1760.061, 'duration': 3.101}, {'end': 1769.963, 'text': "I think if you get into the 40s and 50s on there, this might not make too much sense, but it's basically a mental math website.", 'start': 1763.582, 'duration': 6.381}, {'end': 1771.283, 'text': "You're perfectly fine.", 'start': 1769.983, 'duration': 1.3}], 'summary': 'Zetamax is a mental math website for practicing speed, aiming for 40s and 50s.', 'duration': 28.585, 'max_score': 1742.698, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/_77TxNGR21A/pics/_77TxNGR21A1742698.jpg'}, {'end': 1811.5, 'src': 'embed', 'start': 1782.247, 'weight': 1, 'content': [{'end': 1788.531, 'text': "but what they're trying to test is that you can think well on your feet and under pressure.", 'start': 1782.247, 'duration': 6.284}, {'end': 1793.994, 'text': "So the most mental math you're ever going to do during a day is you're going to look at some pricing and say is this fair??", 'start': 1788.811, 'duration': 5.183}, {'end': 1796.996, 'text': "That's a quick mental math question, but you're not needing to spit out a bunch of them.", 'start': 1794.014, 'duration': 2.982}, {'end': 1799.877, 'text': "But that is definitely something they're going to be testing you on.", 'start': 1797.796, 'duration': 2.081}, {'end': 1803.228, 'text': 'When you need to pass the interview.', 'start': 1801.687, 'duration': 1.541}, {'end': 1811.5, 'text': "that is something I think everybody should at least take a few tries at the ZMAC website to brush up and make sure they're in that you know 40,", 'start': 1803.228, 'duration': 8.272}], 'summary': 'The zmac website is a useful resource for practicing mental math under pressure for interviews.', 'duration': 29.253, 'max_score': 1782.247, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/_77TxNGR21A/pics/_77TxNGR21A1782247.jpg'}], 'start': 1524.034, 'title': 'Algo trading strategies and interview insights', 'summary': 'Examines the significance of probability, combinatorics, and specific math courses for algo trading, while emphasizing the importance of mental math and logic skills in algo trading interviews, highlighting the need for speed and quick thinking.', 'chapters': [{'end': 1678.253, 'start': 1524.034, 'title': 'Algo trading strategies and math requirements', 'summary': 'Discusses the importance of probability and combinatorics for algo trading, the relevance of certain math courses, and the use of quantopian for algorithm development.', 'duration': 154.219, 'highlights': ['Probability and combinatorics are crucial for algo trading, with most interview questions revolving around these topics. The most important areas to learn for algo trading are probability and combinatorics, as they are logically based and most likely to be tested in interviews.', 'Quantopian is a valuable resource for developing algorithms, especially for those without access to high-level data or sophisticated databases. Quantopian allows users to develop algorithms and is user-friendly, even for those with limited Python coding skills.', 'Math courses like real analysis and advanced probability theory are beneficial for those interested in math, but may not be used day to day in algo trading. While math courses like real analysis and advanced probability theory can be helpful for algo trading, they are more niche and not used on a daily basis in the field.']}, {'end': 1818.753, 'start': 1678.293, 'title': 'Algo trading interview insights', 'summary': 'Discusses the importance of mental math and logic skills over ml and stats in algo trading interviews, emphasizing the need for speed and quick thinking, along with a resource for practicing mental math.', 'duration': 140.46, 'highlights': ['Mental math and logic skills are more crucial than ML and stats in algo trading interviews, focusing on quick thinking and speed. The interview process emphasizes logic-based questions and the ability to think quickly on the spot, with a strong emphasis on mental math skills to gauge quick thinking and the capability to perform under pressure.', 'Zetamax website is recommended for practicing mental math to improve speed and quick thinking. The Zetamax website is suggested for practicing mental math, with a target range of 40-50 on the platform to ensure a good grasp of quick mental math skills required in the interview process.']}], 'duration': 294.719, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/_77TxNGR21A/pics/_77TxNGR21A1524034.jpg', 'highlights': ['Probability and combinatorics are crucial for algo trading, with most interview questions revolving around these topics.', 'Mental math and logic skills are more crucial than ML and stats in algo trading interviews, focusing on quick thinking and speed.', 'Quantopian is a valuable resource for developing algorithms, especially for those without access to high-level data or sophisticated databases.', 'The Zetamax website is suggested for practicing mental math, with a target range of 40-50 on the platform to ensure a good grasp of quick mental math skills required in the interview process.', 'Math courses like real analysis and advanced probability theory can be helpful for algo trading, but they are more niche and not used on a daily basis in the field.']}, {'end': 2016.151, 'segs': [{'end': 1934.672, 'src': 'embed', 'start': 1845.652, 'weight': 0, 'content': [{'end': 1849.213, 'text': 'So as a general sense, the trader is the person putting in trades.', 'start': 1845.652, 'duration': 3.561}, {'end': 1852.154, 'text': 'This means different things to different firms.', 'start': 1850.354, 'duration': 1.8}, {'end': 1859.658, 'text': "If you're a very, very low touch firm, the trader is essentially risk analysis and risk balancing.", 'start': 1852.234, 'duration': 7.424}, {'end': 1868.001, 'text': 'You are there to put in trades at a low touch firm, remember that, that somebody else has developed an algorithm for.', 'start': 1860.798, 'duration': 7.203}, {'end': 1872.543, 'text': "at a high touch firm, and that's still quant.", 'start': 1869.742, 'duration': 2.801}, {'end': 1874.943, 'text': 'you are putting in trades that an algorithm exists for,', 'start': 1872.543, 'duration': 2.4}, {'end': 1880.404, 'text': "but you're using discretion and you're better understanding of the market to decide whether you want to put them on.", 'start': 1874.943, 'duration': 5.461}, {'end': 1882.705, 'text': "in this case, you're not just managing risk.", 'start': 1880.404, 'duration': 2.301}, {'end': 1884.485, 'text': "what you're doing is making decisions.", 'start': 1882.705, 'duration': 1.78}, {'end': 1886.126, 'text': "so yeah, yeah, that's um.", 'start': 1884.485, 'duration': 1.641}, {'end': 1891.027, 'text': 'at my firm, we are much higher touch than some of the other quantitative firms.', 'start': 1886.126, 'duration': 4.901}, {'end': 1901.292, 'text': 'so not only would i probably be making my own algorithm to begin with, i will also be Only most of the time, depending on the group, of course,', 'start': 1891.027, 'duration': 10.265}, {'end': 1902.453, 'text': 'and depending on a lot of other factors.', 'start': 1901.292, 'duration': 1.161}, {'end': 1909.421, 'text': "I'm going to be using it as a tool to help me rather than making decisions for me.", 'start': 1902.453, 'duration': 6.968}, {'end': 1911.162, 'text': "So that's a general overview of trading.", 'start': 1909.741, 'duration': 1.421}, {'end': 1915.827, 'text': 'So it can run between the risk management side all the way to the decision making side.', 'start': 1911.242, 'duration': 4.585}, {'end': 1919.171, 'text': "But in a quant firm, you're always using a quant sort of tool.", 'start': 1916.728, 'duration': 2.443}, {'end': 1923.85, 'text': 'So for a quant researcher is the famous PhD style.', 'start': 1920.009, 'duration': 3.841}, {'end': 1927.311, 'text': "You don't have to be, but most of them are PhD style role,", 'start': 1923.89, 'duration': 3.421}, {'end': 1932.152, 'text': "where you're making an algorithm or you're doing some data analysis and saying these are buy signals.", 'start': 1927.311, 'duration': 4.841}, {'end': 1933.092, 'text': 'These are sell signals.', 'start': 1932.172, 'duration': 0.92}, {'end': 1934.672, 'text': 'These are signals where this leads to this.', 'start': 1933.112, 'duration': 1.56}], 'summary': "Trader's role varies from risk analysis to decision making in different firms, with quant tools being essential in a quant firm.", 'duration': 89.02, 'max_score': 1845.652, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/_77TxNGR21A/pics/_77TxNGR21A1845652.jpg'}, {'end': 2023.696, 'src': 'embed', 'start': 1995.675, 'weight': 2, 'content': [{'end': 2002.62, 'text': "Um, it's hard to say exactly and I don't have too much domain knowledge about that, but you definitely do have profit sharing.", 'start': 1995.675, 'duration': 6.945}, {'end': 2011.227, 'text': "You probably, you will, you'll give up the vesting of stock as most of these companies don't have any stock in exchange for the profit sharing.", 'start': 2003.421, 'duration': 7.806}, {'end': 2016.151, 'text': 'And that, you know, it gets dicey depending on your experience, depending on the firm.', 'start': 2011.827, 'duration': 4.324}, {'end': 2023.696, 'text': "I would guess at the super quant funds, like a two Sigma, you probably, you're making a ton of money being a quant, uh, engineer.", 'start': 2016.911, 'duration': 6.785}], 'summary': 'Companies offer profit sharing instead of stock vesting for quant engineers, potentially leading to high earnings at super quant funds like two sigma.', 'duration': 28.021, 'max_score': 1995.675, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/_77TxNGR21A/pics/_77TxNGR21A1995675.jpg'}], 'start': 1819.652, 'title': 'Roles and rewards in quantitative firms', 'summary': 'Discusses the differences in roles between traders, data analysts, and quant researchers, emphasizing varying levels of discretion and risk management. it also highlights the roles and rewards in quantitative firms, including the requirement for graduate level knowledge, the distinction between high touch traders and traditional traders, and the potential for profit sharing in quant developer roles.', 'chapters': [{'end': 1915.827, 'start': 1819.652, 'title': 'Roles in trading and quantitative research', 'summary': 'Discusses the differences in roles between trader, data analytics, and quant researcher, covering the responsibilities and decision-making involved, highlighting the varying levels of discretion and risk management.', 'duration': 96.175, 'highlights': ["The trader's role can range from risk analysis and risk balancing at low touch firms to discretion and decision-making at high touch firms.", 'At high touch firms, traders put in trades that an algorithm exists for, but also use discretion and a better understanding of the market to decide whether to put them on, involving decision-making beyond just risk management.', "Traders at some firms, like the speaker's, are involved in developing their own algorithms and using them as a tool to aid decision-making, showcasing a wide range of responsibilities and autonomy in the role."]}, {'end': 2016.151, 'start': 1916.728, 'title': 'Roles in quantitative firms and their rewards', 'summary': 'Discusses the roles and rewards in quantitative firms, highlighting the emphasis on graduate level knowledge for quant researchers, the distinction between high touch traders and traditional traders, and the potential for profit sharing in quant developer roles.', 'duration': 99.423, 'highlights': ['Quant researchers are often in a PhD style role, making algorithms and data analysis for buy and sell signals, leading to high pay and requiring graduate level knowledge.', 'The distinction between high touch traders and traditional traders is based on the level of involvement in putting trades and using quantitative analysis.', 'Quant developers may receive profit sharing in exchange for giving up stock vesting, with potential rewards varying based on experience and firm.']}], 'duration': 196.499, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/_77TxNGR21A/pics/_77TxNGR21A1819652.jpg', 'highlights': ['Quant researchers require graduate level knowledge and are responsible for making algorithms and data analysis for buy and sell signals.', 'Traders at high touch firms use discretion and a better understanding of the market to decide whether to put trades on, involving decision-making beyond just risk management.', 'Quant developers may receive profit sharing in exchange for giving up stock vesting, with potential rewards varying based on experience and firm.', 'Traders at some firms are involved in developing their own algorithms and using them as a tool to aid decision-making, showcasing a wide range of responsibilities and autonomy in the role.', 'The distinction between high touch traders and traditional traders is based on the level of involvement in putting trades and using quantitative analysis.', "The trader's role can range from risk analysis and risk balancing at low touch firms to discretion and decision-making at high touch firms."]}, {'end': 2586.276, 'segs': [{'end': 2043.085, 'src': 'embed', 'start': 2016.911, 'weight': 0, 'content': [{'end': 2023.696, 'text': "I would guess at the super quant funds, like a two Sigma, you probably, you're making a ton of money being a quant, uh, engineer.", 'start': 2016.911, 'duration': 6.785}, {'end': 2029.199, 'text': "or you know some type of developer or quant developer, but i don't.", 'start': 2024.597, 'duration': 4.602}, {'end': 2031.16, 'text': "i wouldn't be able to put a number on it right now.", 'start': 2029.199, 'duration': 1.961}, {'end': 2038.043, 'text': "right yeah, i mentioned that because i talked to people who wanted to go and become developers, because they're like oh,", 'start': 2031.16, 'duration': 6.883}, {'end': 2043.085, 'text': "i'm doing engineering anyway and the hours are pretty much the same, but i also get to invest in their fun.", 'start': 2038.043, 'duration': 5.042}], 'summary': 'Super quant funds like two sigma make a ton of money for quants and developers.', 'duration': 26.174, 'max_score': 2016.911, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/_77TxNGR21A/pics/_77TxNGR21A2016911.jpg'}, {'end': 2139.681, 'src': 'embed', 'start': 2116.87, 'weight': 1, 'content': [{'end': 2124.395, 'text': "I would say People tend to stay in the line It's like biased in one of two directions.", 'start': 2116.87, 'duration': 7.525}, {'end': 2131.443, 'text': "Either you're there for the long haul because you love it or you're out quickly because you don't like the work and you don't have any fun doing it.", 'start': 2124.455, 'duration': 6.988}, {'end': 2139.681, 'text': "There are people who get fired because things don't go well, but I would say the risk of getting fired is firm dependent.", 'start': 2132.659, 'duration': 7.022}], 'summary': "People either stay long-term due to passion or leave quickly if they don't enjoy the work. job security depends on performance.", 'duration': 22.811, 'max_score': 2116.87, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/_77TxNGR21A/pics/_77TxNGR21A2116870.jpg'}, {'end': 2261.823, 'src': 'embed', 'start': 2236.398, 'weight': 2, 'content': [{'end': 2241.621, 'text': 'and the second one is is the firm very exposed to certain market conditions?', 'start': 2236.398, 'duration': 5.223}, {'end': 2243.762, 'text': 'firms that tend to be more exposed take more risks on.', 'start': 2241.621, 'duration': 2.141}, {'end': 2247.064, 'text': "yeah, maybe they have great years, but then there's going to be years where they lay off a lot of people.", 'start': 2243.762, 'duration': 3.302}, {'end': 2249.086, 'text': 'So those are really the two reasons why.', 'start': 2247.464, 'duration': 1.622}, {'end': 2261.823, 'text': "And the second one you can get out of by choosing to go to a firm if those firms are recruiting at the time that is more diverse in terms of strategy and won't have that risk.", 'start': 2250.008, 'duration': 11.815}], 'summary': 'Firms exposed to market conditions take more risks and may face layoffs. diversify to reduce risk.', 'duration': 25.425, 'max_score': 2236.398, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/_77TxNGR21A/pics/_77TxNGR21A2236398.jpg'}, {'end': 2338.534, 'src': 'embed', 'start': 2310.724, 'weight': 6, 'content': [{'end': 2316.446, 'text': "a lot of people have a hard time if they're not really into it because they don't have in many cases that super high salary.", 'start': 2310.724, 'duration': 5.722}, {'end': 2320.448, 'text': "They're not looking for it during the training period because they're not trading their own book.", 'start': 2316.666, 'duration': 3.782}, {'end': 2321.848, 'text': "They're not trading to make money.", 'start': 2320.728, 'duration': 1.12}, {'end': 2324.189, 'text': "And they're stressed every day, right?", 'start': 2322.508, 'duration': 1.681}, {'end': 2328.531, 'text': 'So if it sounds like oh, like one, I could be making more money,', 'start': 2324.349, 'duration': 4.182}, {'end': 2332.712, 'text': 'because These people are probably intelligent enough to be a software engineer most of the time.', 'start': 2328.531, 'duration': 4.181}, {'end': 2338.534, 'text': 'I could be making more money doing something else and I could have more fun during my day doing something else, right?', 'start': 2333.372, 'duration': 5.162}], 'summary': 'Many find trading stressful due to lower salaries and seek alternative careers for better pay and enjoyment.', 'duration': 27.81, 'max_score': 2310.724, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/_77TxNGR21A/pics/_77TxNGR21A2310724.jpg'}, {'end': 2536.269, 'src': 'heatmap', 'start': 2481.386, 'weight': 1, 'content': [{'end': 2486.731, 'text': 'um, anybody can do finance after being too quantitative,', 'start': 2481.386, 'duration': 5.345}, {'end': 2493.176, 'text': 'but people in finance have a much harder time going the other way and knowing what i know now that this is what i want to do,', 'start': 2486.731, 'duration': 6.445}, {'end': 2495.258, 'text': "i'm having so much fun doing it.", 'start': 2493.176, 'duration': 2.082}, {'end': 2503.184, 'text': 'it would have helped me shorten the path and get there sooner and be better by having done that quantitative stuff first instead of later.', 'start': 2495.258, 'duration': 7.926}, {'end': 2504.986, 'text': 'fair, okay.', 'start': 2503.184, 'duration': 1.802}, {'end': 2506.107, 'text': "last question what's 32 times?", 'start': 2504.986, 'duration': 1.121}, {'end': 2512.877, 'text': 'It is representative of the question.', 'start': 2511.596, 'duration': 1.281}, {'end': 2513.677, 'text': 'anyone asks you, right??', 'start': 2512.877, 'duration': 0.8}, {'end': 2516.318, 'text': 'Yeah, that is the type of question.', 'start': 2513.837, 'duration': 2.481}, {'end': 2518.219, 'text': "I'm not going to make you do it on camera.", 'start': 2516.418, 'duration': 1.801}, {'end': 2522.482, 'text': "No, there's too much pressure on camera to do that.", 'start': 2518.359, 'duration': 4.123}, {'end': 2523.042, 'text': 'Okay, cool.', 'start': 2522.502, 'duration': 0.54}, {'end': 2527.164, 'text': "Yeah, I mean, that's pretty much everything that I had.", 'start': 2523.802, 'duration': 3.362}, {'end': 2533.147, 'text': "So don't get discouraged if it isn't the first year, if it isn't the second year,", 'start': 2527.544, 'duration': 5.603}, {'end': 2536.269, 'text': "if you're an undergraduate student or if you're a professional trying to change.", 'start': 2533.147, 'duration': 3.122}], 'summary': 'Finance professionals can benefit from quantitative skills, leading to better career prospects and enjoyment.', 'duration': 54.883, 'max_score': 2481.386, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/_77TxNGR21A/pics/_77TxNGR21A2481386.jpg'}, {'end': 2512.877, 'src': 'embed', 'start': 2486.731, 'weight': 3, 'content': [{'end': 2493.176, 'text': 'but people in finance have a much harder time going the other way and knowing what i know now that this is what i want to do,', 'start': 2486.731, 'duration': 6.445}, {'end': 2495.258, 'text': "i'm having so much fun doing it.", 'start': 2493.176, 'duration': 2.082}, {'end': 2503.184, 'text': 'it would have helped me shorten the path and get there sooner and be better by having done that quantitative stuff first instead of later.', 'start': 2495.258, 'duration': 7.926}, {'end': 2504.986, 'text': 'fair, okay.', 'start': 2503.184, 'duration': 1.802}, {'end': 2506.107, 'text': "last question what's 32 times?", 'start': 2504.986, 'duration': 1.121}, {'end': 2512.877, 'text': 'It is representative of the question.', 'start': 2511.596, 'duration': 1.281}], 'summary': "Finance professionals struggle to transition, advocating for earlier exposure to quantitative skills, as evidenced by the speaker's experience.", 'duration': 26.146, 'max_score': 2486.731, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/_77TxNGR21A/pics/_77TxNGR21A2486731.jpg'}, {'end': 2565.732, 'src': 'embed', 'start': 2536.969, 'weight': 4, 'content': [{'end': 2539.451, 'text': 'um, just keep trying to stack the deck in your favor.', 'start': 2536.969, 'duration': 2.482}, {'end': 2543.655, 'text': 'keep trying to do things which look strong and attractive.', 'start': 2539.451, 'duration': 4.204}, {'end': 2548.458, 'text': "whether that be working on things that you're interested in or sharpening up on your mathematical skills,", 'start': 2543.655, 'duration': 4.803}, {'end': 2551.221, 'text': 'definitely is going to help you in the interview.', 'start': 2548.458, 'duration': 2.763}, {'end': 2555.324, 'text': 'both of those things eventually will help you become a stronger candidate.', 'start': 2551.221, 'duration': 4.103}, {'end': 2564.331, 'text': "this definitely isn't something i want to reiterate, where, if you don't have the knowledge, you can just jump in and you know day one you're ready.", 'start': 2555.324, 'duration': 9.007}, {'end': 2565.732, 'text': 'it will take some time to develop it.', 'start': 2564.331, 'duration': 1.401}], 'summary': 'Strengthen your skills to become a stronger candidate, focusing on interests and math.', 'duration': 28.763, 'max_score': 2536.969, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/_77TxNGR21A/pics/_77TxNGR21A2536969.jpg'}], 'start': 2016.911, 'title': 'Quant fund and trading insights', 'summary': 'Discusses stress levels, job stability, and career duration in quantitative fund careers, with potential earnings and factors influencing job satisfaction, along with insights and experiences of a quant trader, emphasizing the importance of quantitative skills and perseverance in the field.', 'chapters': [{'end': 2359.128, 'start': 2016.911, 'title': 'Quant fund careers analysis', 'summary': 'Discusses the stress levels, job stability, and career duration in quantitative fund careers, with insights into the potential earnings and factors influencing job satisfaction and longevity.', 'duration': 342.217, 'highlights': ['Quant fund careers involve high stress levels due to the potential financial impact of each decision, but the high earnings in the initial years can make it financially sustainable in the long run. High stress levels due to financial impact of decisions, high earnings in initial years.', 'Job stability in quant fund careers is influenced by personal fit and firm-dependent risks, leading to varying durations of employment, typically ranging from one to three years or extending to 20-30 years. Job stability influenced by personal fit and firm-dependent risks, varying employment durations.', "Factors influencing career longevity in quant fund careers include personal preference for the job and the firm's exposure to market conditions, with potential options to mitigate risks by choosing firms with diverse strategies. Career longevity influenced by personal preference and firm's exposure to market conditions, option to mitigate risks by choosing diverse firms."]}, {'end': 2586.276, 'start': 2359.208, 'title': 'Quant trading insights', 'summary': 'Discusses the insights and experiences of a quant trader, emphasizing the importance of quantitative skills and perseverance in the field, and highlighting the need to continuously develop and refine skills to become a stronger candidate for quant trading positions.', 'duration': 227.068, 'highlights': ['The importance of quantitative major in undergrad for a career in finance and quant trading, emphasizing that having quantitative skills early on could help shorten the path to success and make one a stronger candidate.', "Encouragement to continuously develop skills and stack the deck in one's favor, whether by working on interests or sharpening mathematical skills, to improve as a candidate for quant trading positions.", 'The advice to not get discouraged and to persist in developing strong and attractive qualities, whether as an undergraduate or a professional trying to change careers, with the understanding that it takes time to develop the necessary knowledge and skills.', 'Insights into the personal experiences and considerations of a quant trader, including the challenges of transitioning from investment banking and the importance of pursuing interests and hobbies outside of work for personal fulfillment.']}], 'duration': 569.365, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/_77TxNGR21A/pics/_77TxNGR21A2016911.jpg', 'highlights': ['High earnings in initial years can make quant fund careers financially sustainable in the long run.', 'Job stability in quant fund careers is influenced by personal fit and firm-dependent risks, leading to varying durations of employment.', "Factors influencing career longevity in quant fund careers include personal preference for the job and the firm's exposure to market conditions.", 'Having quantitative skills early on could help shorten the path to success and make one a stronger candidate for quant trading positions.', "Encouragement to continuously develop skills and stack the deck in one's favor, whether by working on interests or sharpening mathematical skills.", 'The advice to persist in developing strong and attractive qualities, whether as an undergraduate or a professional trying to change careers.', 'Insights into the personal experiences and considerations of a quant trader, including the challenges of transitioning from investment banking and the importance of pursuing interests and hobbies outside of work for personal fulfillment.']}], 'highlights': ['Quant traders can expect mid-six figures after five years, with the potential to earn senior-level bonuses comparable to senior VPs or MD traders.', 'Options trading allows for leverage, making it more appealing than stock trading for individuals with limited funds.', 'Importance of technical expertise for a successful trading career', 'Transition from investment banking to trading, specifically delving into the appeal of options trading.', 'The day-to-day activities of a quant trader involve analyzing news, options pricing, and making trades based on inefficiencies and mispricings, similar to stock trading.', 'Educational backgrounds in computer science, physics, math, or math-heavy economics like the UChicago program are preferred for roles in options trading firms.', 'The appeal of quant trading lies in its dynamic nature, attracting individuals interested in finance, math, challenges, and dynamic jobs.', 'Entry-level quant traders can expect high five figures to six figures in their first year, minus bonuses, with top firms offering $200,000 to $300,000 sign-on bonuses.', 'To approach quant trader opportunities, individuals can research the top quant funds and explore firms specializing in quantitative trading.', 'Job availability is prominent in major cities, with around five firms consistently hiring and regional firms also offering positions.', 'The challenge lies in finding smaller firms with fewer job openings, which may require using platforms like LinkedIn or conducting thorough online searches.', "The chapter emphasizes the importance of knowing enough math to pass the interview and mentions that it's not hard math and can be learned.", 'Showing interest in the domain through projects or club participation can improve the chances of getting an interview.', 'Caution is advised against overstating domain knowledge, as it can lead to challenges during the interview process.', 'Probability and combinatorics are crucial for algo trading, with most interview questions revolving around these topics.', 'Mental math and logic skills are more crucial than ML and stats in algo trading interviews, focusing on quick thinking and speed.', 'Quantopian is a valuable resource for developing algorithms, especially for those without access to high-level data or sophisticated databases.', 'The Zetamax website is suggested for practicing mental math, with a target range of 40-50 on the platform to ensure a good grasp of quick mental math skills required in the interview process.', 'Math courses like real analysis and advanced probability theory can be helpful for algo trading, but they are more niche and not used on a daily basis in the field.', 'Quant researchers require graduate level knowledge and are responsible for making algorithms and data analysis for buy and sell signals.', 'Traders at high touch firms use discretion and a better understanding of the market to decide whether to put trades on, involving decision-making beyond just risk management.', 'Quant developers may receive profit sharing in exchange for giving up stock vesting, with potential rewards varying based on experience and firm.', 'Traders at some firms are involved in developing their own algorithms and using them as a tool to aid decision-making, showcasing a wide range of responsibilities and autonomy in the role.', 'The distinction between high touch traders and traditional traders is based on the level of involvement in putting trades and using quantitative analysis.', "The trader's role can range from risk analysis and risk balancing at low touch firms to discretion and decision-making at high touch firms.", 'High earnings in initial years can make quant fund careers financially sustainable in the long run.', 'Job stability in quant fund careers is influenced by personal fit and firm-dependent risks, leading to varying durations of employment.', "Factors influencing career longevity in quant fund careers include personal preference for the job and the firm's exposure to market conditions.", 'Having quantitative skills early on could help shorten the path to success and make one a stronger candidate for quant trading positions.', "Encouragement to continuously develop skills and stack the deck in one's favor, whether by working on interests or sharpening mathematical skills.", 'The advice to persist in developing strong and attractive qualities, whether as an undergraduate or a professional trying to change careers.', 'Insights into the personal experiences and considerations of a quant trader, including the challenges of transitioning from investment banking and the importance of pursuing interests and hobbies outside of work for personal fulfillment.']}