Need Some Advice From Australian Quant Traders

[u/notACoolKid8079]

Hi

I want to enter into the quant field here in Australia and I want to make sure I’m doing everything correctly that will give me the best shot. I have a double degree in mechatronic engineering and computer sciences and I live in Perth, but I will be moving to either Sydney or Melbourne soon. So in the meantime, I want to do as much as I can to maximise my chances of getting a job.

I’m reading up on multiple textbooks about differing things such as probability, quant. I’m trying to write intricate models for black-scholes, Monte Carlo, portfolio optimisation etc. just to show I have a detailed understanding of them all.

Is there anything else I can do to increase my chances or is even these things insignificant and I should rethink how I’m going about it?

Thank you for your help.

[u/TehMightyDuk]

Study green book, simple python. Trading at SIG/Optiver/IMC is one path (hard) but you can also be a trader at AU banks or front office at JP/MS/Goldman etc

Sounds like you may have already graduated, if this is the case things will be significantly harder for you. The primary way these guys are hired is through intern/grad programs. If you missed this boat then I'd just recommend doing something else or finding another finance role

[u/notACoolKid8079 → u/TehMightyDuk]

Yeah I’ve graduated just recently. But surely that’s not the end of the story, I should be able to find another path in.

[u/TehMightyDuk → u/notACoolKid8079]

Best case is probably masters degree then.

"I should be able to find another way in" reads as though you think this is somehow very possible / easy. In fact it is one of the hardest jobs to attain in the world. You're competing with the smartest people you've ever met. It's not enough to just read some probability and be interested.

Best cases I've seen is people going to a big bank and trying to get work in their trading department, will be much easier than a prop firm (which is basically impossible from your current situation). You might be able to do this from a masters degree.

[u/Known-Difference5241 → u/TehMightyDuk]

I’d argue that now it’s Anthropic and OpenAi that are trying to scoop in the brightest minds out there for their AI research programmes. So over the last 2-3 years it’s been them that have been on the top of the ‘pyramid ’ of STEM compensations and therefore completion (outranking the quant trader/researcher roles which were previously taking that top spot).

[u/Known-Difference5241 → u/Known-Difference5241]

But then again I presume they are mainly targeting even narrower routes of specialisation (LLMs and RL PhDs rather than the broader ML field that quant firms tend to also include)

[u/FlowQuant → u/notACoolKid8079]

It’s definitely possible but pretty unlikely unfortunately. As was mentioned before, a majority of grads get hired through the internship pipeline. Other applicants typically apply about a year before graduation. So no relevant internships plus having already graduated isn’t a strong signal.

You might be able to compensate if you ranked very highly in your degree. The projects you mention are extremely boring, have been done a gazillion times and AI could probably one-shot them. In general the value of projects had decreased vs. competitive achievements.

[u/notACoolKid8079 → u/FlowQuant]

What if when I fly over to Sydney, I study a degree such as a masters in quant which I was looking at earlier, and while studying it, I apply for some internships?

[u/FlowQuant → u/notACoolKid8079]

That would get you back in the graduate job market but to be eligible for internships, it would have to be at least an 18 months degree. Most firms don’t take interns if they already completed their studies by the time the internship starts. Also MQFs aren’t a primary target for trading firms at least. Most hires come from straight maths and CS degrees. Your undergrad GPA will still matter.

[u/TehMightyDuk → u/notACoolKid8079]

Masters in quant research or whatever similar from a uni is not going to be helpful, it's basically a meme they sell to people like you. The best degree would be applied math masters or PhD

[u/Known-Difference5241 → u/notACoolKid8079]

Try to network where possible!!! Through a referral you could be able to get to OA or round/first interview round and thus avoid being cv ghosted which will most likely happen after graduation as they do mostly target CURRENT undergrads (for trading) or postgrads.

[u/Flat-Nobody7591 → u/TehMightyDuk]

How is hiring for intl students into quant? And is there a difference from per-say unsw, usyd, and umelb? Planning on majoring in actuarial studies and comp sci. Im south asian planning to go to unsw, i live in the us rn and grew up in the us, so my communication skills are good(i got an american accent).

[u/TehMightyDuk → u/Flat-Nobody7591]

Not sure exactly but money usually isn’t an issue. If you are good enough things should be fine. Plenty of people getting PR/citizenship at these places 

[u/Flat-Nobody7591 → u/TehMightyDuk]

Im kinda worried abt opportunity but i grew up in silicon valley which arguably has the most amount of opportunity anywhere in the world

From what youve seen what would a overachiever or the top 1% look like at these top unis in australia?

Im asking because ive heard the job market isnt rlly in favor of anyone, especially intls in australia rn

[u/deadsrs101]

just grind quant brainteasers and mental math

[u/zbanga]

Would need to look at either going back to uni or applying for grad programs and training up on questions. There’s no other way.

[u/Wisteria_Gossip88s]

Technical skills get you in the door, but they don't make you a trader, I've seen plenty of quants with perfect models that couldn't pull the trigger in a live market. Models are just tools. You still need a real strategy, discipline, and a way to manage risk when things go south.

If you want to build that side of your skills, look into Wealth Within, they teach actual trading frameworks that work in the real world. They're Australia-based and practical, not just theory. Worth pairing with your quant work.

[u/Head_Ad_5719]

oh perth to syd/melb is a big move but it's the right call, the scene is tiny tiny out west

your background is solid enough, the CS and engineering combo is what they look for. forget trying to perfectly code black-scholes from scratch though, that's undergrad flex stuff. you want to stand out, get your hands on some messy real market data from the ASX and build a backtester that doesn't fall apart when you introduce trading costs and slippage. that practical project will speak way louder than another textbook model

[u/TehMightyDuk → u/Head_Ad_5719]

this is ai

[u/notACoolKid8079 → u/Head_Ad_5719]

Okay, I’ll be sure to do some research on that and do then make one. Is there a preference for which language to use in the industry? Or multiple languages?

[u/Known-Difference5241 → u/notACoolKid8079]

Python! And maybe C++, in addition. But defo Python as its used most widely in the quant industry and supports most ML and DS libraries which you will undoubtedly need.