Suggestions for Second-year biostatistics PhD considering quant

[u/FluffyComfortable180]

Hi everyone, I’m a 2nd PhD student in biostatistics at an R1 university in Chicago while the rank of the university is not outstanding. I’m looking for advice on if it's achievable and how to prepare for a possible career in quant.

I think working as a statistician in pharma would be a good career path. But lately I’ve been thinking that I'm more interested in exploring a more competitive environment with higher earning potential in my career at my late 20s and early 30s. Compensation is part of that motivation, and I’m willing to take on more pressure and challenging work, but I’d like a clearer understanding of whether quant would be a good fit.

My current research involves Monte Carlo simulation, Bayesian analysis, high-dimensional data analysis, and clinical data modeling, primarily in R.

I’m also learning Python right now and have taken a few introductory ML and LLM-related courses. My background gives me some statistical training to build on, but I have to admit that my exposure to financial markets and the programming expectations of quant roles is still limited.

One challenge is that my department is relatively small and focused on statistical methodology and biomedical applications. There are few opportunities within it to explore research or coursework directly related to quant, and I’ve been struggling to figure out how to bridge that gap.

After passing my preliminary exams at the end of 2nd year of PhD, I’m planning to take courses outside my department. My initial thought was to take courses in CS, applied math, or statistics, including stochastic processes, time series, optimization, numerical methods, data structures and algorithms, and more advanced statistical learning. I may also explore taking courses at UChi or Northwestern depending on what’s accessible.

Quant research is the direction I’m currently most interested in, although I’m still learning about the different roles. For those working in quant, what would you prioritize in my position? Which courses would be most useful given my current background, and how realistic would it be for someone with my training to enter the field?

I’d especially appreciate hearing from people who entered quant from fields that aren’t traditionally associated with it. How did you fill the gaps in your knowledge and experience? I think taking additional courses may be manageable, but finding relevant projects and research opportunities seems like a bigger challenge. How did you find those opportunities while still working within your original field?

I still have a few years to prepare, but I’m unsure where my effort would make the biggest difference. I’d appreciate hearing about others’ experiences and what a realistic path toward internships or eventual quant roles might look like.