A Guide to Seeking a Job in Quantitative Finance

Applying for a Job in Quantitative Finance

The Resume

When applying for a role, the resume is usually a candidate’s first opportunity to showcase themselves and their skillset to the recruiter or hiring manager.

For candidates looking to get an interview, they need to remember that recruiters and hiring managers are time poor and review a lot of resumes. To stand out, it is vital for candidates to convey why they are suitable for the job in the most concise format possible.

Quick Tips for Resume Writing

Candidates can effectively showcase skills and experience while keeping their resumes brief by doing the following:
 

• Tailor the resume and highlight relevant skills and experiences needed for the specific job.
• Incorporate common keywords from the job description as many firms now pre-screen resumes online.
• Use headings, bullet points, and bold text to aid readability.
• Avoid color, logos, and photos as these can look unprofessional.
• Keep formatting consistent throughout the document.
• Link to personal websites, GitHub, or other coding repositories, or mention hackathons or coding competitions, if relevant.
• CQF alumni often showcase their final projects demonstrating how they have worked on real-world problems within quant finance.
   

Ordering a Resume

There is no set way to order a resume. However, a standard template for quant finance typically follows this order:
 

• Name and current contact details.
• Executive summary – two to six lines that give a snapshot of the candidate’s experience and suitability for the role.
• Professional experience – highlight key responsibilities and achievements for previous roles, with a brief explanation about the company.
• Skills – for example, coding skills with the level of proficiency.
• Academic credentials such as undergraduate and postgraduate degrees.
• Professional qualifications, such as the CQF, listing subjects studied and results.
• Publications (where relevant).
• References.

Candidates should remember that the resume will drive the interview, so it should cover everything they want to discuss at that time.

The Cover Letter

The accompanying cover letter should be brief and less than one page. This should be used by the candidate to express interest and to highlight why they are right for the role. It is important to tailor each letter for each application. Taking the time to do this shows that the candidate has read the job description and cares about the impression they make.

The Interview

Interviews are an opportunity to showcase skills but can be challenging at any career stage. Candidates looking to excel in the interview and achieve their career goals should enter the process as prepared as possible, having researched the company, and considered the types of questions likely to be asked.
 

Before the Interview

Quant finance is intellectually demanding, and employers will typically test a candidate rigorously, so candidates should take the time to prepare.
 

• Research the company and utilize platforms like Glassdoor, business press, and the firm’s social media to learn about its direction and culture.
• Anticipate interview questions and rehearse responses to common questions and ensure a strong grasp of skills listed on the resume.
• Practice brainteasers and strategize multiple methods for tackling them to demonstrate analytical versatility.
• Demonstrate passion for quant finance by highlighting engagement in further reading, professional memberships, hackathons, or industry events.

Interview Questions

During the interview, candidates can usually expect personal, behavioral, and technical questions, as well as brainteasers and practical tasks.

The types of questions and scenarios posed by hiring managers or recruiters will vary from firm to firm, and role to role. The following examples should just be a starting point for candidates when they are considering how best to prepare.
 

Personal Questions
 

• What interests you most about this position and the company?
• Why are you looking to leave your current role?
• What do you think you would contribute to the team?
   

Behavioral Questions
 

• Can you tell me about a time you had to make a decision based on limited information?
• Rate yourself on a scale of 1–10 on the type of risk taker you are. Tell me why and give examples to support your claims.
   

Technical Questions
 

• How would you explain the concept of overfitting in financial modeling?
• Discuss a technical project you have worked on that is relevant to this role. What challenges did you face and how did you overcome them? What was the biggest success?
• Which programming languages are you proficient in and how have you applied them to your work/studies?
• What is a p-value and why is it important in hypothesis testing?
   

Brainteasers
 

• How many gas stations are there in the US?
• How many fish are there in the Indian Ocean?
• What would you estimate to be the size of the tennis ball market in the UK?
   

Practical Tasks
 

• Candidates may be given a market scenario and asked how they would construct a portfolio to take advantage of it.
• Candidates may be asked to finish a code sample in the language specified on their resume.
   

Candidate Questions

At the end of the interview, most recruiters and hiring managers will allow the candidate to ask any questions they have about the role, team, or company.

Ideas for questions may include:
 

• What are the main challenges currently faced by the team?
• Can you describe the day-to-day typical responsibilities for this role?
• How does this role contribute to the overall success of the firm?

After the Interview

After the interview, it is polite to follow up with a short message to thank the hiring manager for their time, and either reiterate interest or indicate that it is not the right opportunity. This shows initiative and, if interested in the role, can help to keep the candidate top of mind.

The Offer

If the candidate receives a job offer, it is crucial to take the time to review whether the offer aligns with their expectations. If there are aspects that the candidate feels could be improved, they can engage in a professional negotiation to achieve the best outcome. It is advisable to be prepared with market salary data and a clear rationale for any requests.

If the candidate is not offered the job, it can be disappointing, but it is also an opportunity for growth. The candidate should express gratitude for the chance to interview and, if comfortable, request feedback.

In Summary

The application and interview process are the chance for candidates to showcase why they are the best person for the role. Before applying, candidates should take the time to consider the type of role that best aligns with their career goals, adjust their resume and cover letter to demonstrate a strong match with the desired role, and thoroughly prepare before the interview. In this preparation period, candidates should consider how they can set themselves apart from the rest of the crowd – either through wider reading, participating in industry events, or by earning the CQF designation.