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I definitely agree with your first point, but from personal experience the second one is debatable. It certainly depends on the specific activity, and will chan
by isolli 8y ago
I definitely agree with your first point, but from personal experience the second one is debatable. It certainly depends on the specific activity, and will change with time.
For instance, while quantitative research during the explosion of Black-Scholes-based modeling and complex financial products was intellectually interesting, after the 2008 crisis the focus moved to maintaining existing models (mostly trying not to lose money on legacy products) and implementing various regulations (e.g. central clearing requirements).
- gadders 8y agoTrue, in the last ten years nearly all the big projects have been Reg projects. These are normally never as much fun as revenue generating projects. However, I still think banking as a whole is more interesting than a lot of others - FMCG, manufacturing etc.
- Jorge1o1 8y agoAgreed. Would much rather work in finance than at Heinz as a brand manager for ketchup (if you’re lucky) or even in tech there’s some just insanely boring careers: network engineer, database admin, etc.
- TuringNYC 8y agoCertain regulatory projects can be a lot of fun and interesting. I lead a stress-testing project for a big asset manager (a SIFI) and this was fun because stress tests force you to do 100x what you'd typically do once or twice. Implementing stress tests drove us to 1. Massively scale infrastructure 2. Create elastic infrastructure to allow spikes 3. Re-do our models away from ad-hoc towards parameter models 4. Invest in more interesting compute models