I've been applying for internships and recently progressed to the next stage of a securities firm, for what I'm guessing is a quant role based on the website (i originally applied for software dev lmfao so idk how this happened)
Anyone have experience with quant stuff? i've done a few practice tests online and while the pure logical aspect (identifying patterns and stuff) comes easy to me I'm not as fast as I'd like to be on the numerical problems (stuff like calculate 27^27)
they might ask questions like
if theres a stock which provides 10% return and another stock with 5% return and u have like for eg. $20000 how much would invest in these stocks to get an 8% return on the $20000
ps im not that experienced in quant but i do know about finance internships and ive heard the finance questions are similiar to questions in interviews of investment banks, amcs, private equity, vcs etc dont know about the coding questions tho
yeah i've been taking a look at some quant questions on yt and stuff, but the practice questions i think they'll be giving me on my assessment (can't go into too much detail on this i think) consist of solving a ton of mental math based questions involving large numbers & simple logic problems (e.g. what would be the next number in a sequence of 53, 52, 54, 50, 58, 42, 74, ?)
my question was mostly asking if anyone knew tricks to do mental math calculations faster. i cannot do shit like 27^27 in like 10 seconds.
afaik i won't be getting coding questions at least in my next stage. mostly probability + numbers + logic stuff.
as for ur problem:
if theres a stock which provides 10% return and another stock with 5% return and u have like for eg. $20000 how much would invest in these stocks to get an 8% return on the $20000
if we call the money in 10% stock x and the 5% stock y
then y = 20,000-x
and u want 8% right
8% of 20,000 is 200*8=1600
so 0.1x+0.05(20,000-x)=1600
that would be
0.1x+1000-0.05x=1600
0.05x=600
5x=60,000
x=12,000
right?
if u have good knowledge of programming, u are 50% of the way to quant just have to learn financial aspects
in india, quant firms hire engineers and student from IITs (the best instituition in india) purely because of their mathematical and coding skills. these students don't even know the F of finance. i think quant firms care more about proficiency in maths and coding but like its literally finance so idk
yeah i have no clue if quant is for me honestly, i would rather just work a chill software dev job than be a quant, even though the money is insane. everything i hear about finance is that it's super stressful and burns people out.
hey man, my friends work in software right now and they seem pretty chill compared to the horror stories i hear in finance LMAO
yeah ur right my cousin is in MIT and is currently working as a quant dev intern at jane street and he is unable to cope with the academic pressure + the insane workload of quant. nothing is above ur own mental health not even money. i hope you find a great internship that wont have this much pressure.
damn ur cousin is insanely smart. honestly props to him for giving it a go. thank you for the well wishes my friend, i hope you find success in your life too.
nah, just go work at a construction site or something bro, ts is too fucking difficult and complicated
obviously you aren't allowed to use a calculator silly. and on the practice test you have to solve 50 questions of this difficulty or harder within 5 minutes.
i mean what's the point when you can use a calculator when working anyway... like i said, construction site it is. Dealing with this shit is a nightmare
true mental math isn't as important as it used to be but i understand wanting someone who is capable of dealing with large numbers when you're working in finance.
and construction is a viable career path but finance pays insanely well
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