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Old 12-28-2013, 08:29 PM   #1
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Who works on Wall St.?

I'll be graduating soon with a Mechanical Engineering degree, with a new-found interest in a Wall St. job, at least for a few years after I get out of college before I go off and use my degree. I know there are certain positions on wall street where your degree isn't that relevant, and ones that actually like to hire engineers because of their math qualifications and skills/mindset. I've heard of engineers getting hired as analysts all the way to getting hired as brokers.

What positions are these and what's my best shot?
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Old 12-28-2013, 08:37 PM   #2
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I've thought about Wall Street a time or two. Some of my fraternity brothers are working up there for the banks. They seem to enjoy the lifestyle.
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Old 12-28-2013, 09:17 PM   #3
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Ask anyone in Ohio / a Southern state. They all manage hedge funds worth hundreds of millions, trade stocks for a living, everything paid off, and don't work under atleast 4 bosses.

This is E46F, boss zone.
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Old 12-28-2013, 09:30 PM   #4
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You just watched Wolf on Wall Street, didn't you
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Old 12-28-2013, 09:31 PM   #5
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The movie got you that excited? I could be wrong, but I would imagine you'd be hard pressed to find a job in finance. I've seriously looked into quantitative finance as a possible master's but even with a minor in math and a physics BS I wouldn't be much of a candidate; they're looking for math & applied math majors because the mathematics used is very abstract. If you could find a job, I would think it would be closer to something computer-science related in the financial sector. I have a friend who's doing coding/financial work with Amazon and he has a mechanical degree from MIT.

Look into quantitative finance & ecomonic engineering. If you want to read up on the math behind it, chaos theory/fractal geometry/random walks all play a role. The Black Scholes equation is essentially what ruined our economy but still used for financial modeling and it's insanely interesting. A Random Walk Down Wall Street is good, as is The Myth of the Rational Market; both deal with modeling the market from a random walk approach and the latter pretty much tells you that you can never truly predict the market because humans are irrational. And last but not least, Ito Calculus is the calculus heavily used in quant. Imagine a function that is eveywhere continuous but nowhere differentiable and you'll get a feel for what it's dealing with.
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Old 12-28-2013, 09:32 PM   #6
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You just watched Wolf on Wall Street, didn't you
Thought the same thing. Either that or Boiler Room.
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Old 12-28-2013, 09:37 PM   #7
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This is E46F, boss zone.
Or make sure you talk to class of 2011 dropouts that work in brick stores. They're so good at finances and everything else in life. Why else would anyone work in dat mad Florida brix industry yo
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Old 12-28-2013, 09:37 PM   #8
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Who works on Wall St.?

Hahaha its not because of Wolf of Wall street or Boiler Room, although I have seen pretty much every Wall St movie. It was actually Margin Call a while back that got me on the idea...the main guy was an aerospace engi. But ive been checking some stats about major firms and something like 10% of employees were engineers.


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Old 12-28-2013, 09:39 PM   #9
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Hahaha its not because of Wolf of Wall street or Boiler Room, although I have seen pretty much every Wall St movie. It was actually Margin Call a while back that got me on the idea...the main guy was an aerospace engi. But ive been checking some stats about major firms and something like 10% of employees were engineers.


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Guys with PhDs in math/physics/engineering are the indirect reason our economy took a dump in 2008. The derivatives market didn't exist until they got their hands on the stock market.
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Old 12-28-2013, 09:48 PM   #10
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Hahaha its not because of Wolf of Wall street or Boiler Room, although I have seen pretty much every Wall St movie. It was actually Margin Call a while back that got me on the idea...the main guy was an aerospace engi. But ive been checking some stats about major firms and something like 10% of employees were engineers.


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22% of CEOs have an engineering background...
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Old 12-28-2013, 09:49 PM   #11
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Guys with PhDs in math/physics/engineering are the indirect reason our economy took a dump in 2008. The derivatives market didn't exist until they got their hands on the stock market.
What are you making up on the internet now?
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Old 12-28-2013, 09:58 PM   #12
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Working on Wall Street is a fraud's job. A bunch of insanely hard working strivers trying to turn a dollar into a dollar ten quicker than everybody else on the Street. It's impossible for the majority to do that. You can do that on your own time and do something useful with your mech e degree.

Besides, all the resumes in high finance are impeccable. Unless you have a high GPA with your degree from a prestigious university and good internships, forget about it. You've already missed the boat to the ground floor. Trying to break in now requires a bunch of hustle and grit, things that I assume you just don't have, since most people don't have them.

Low finance is all about telling financially illiterate people why your company's high fee mutual funds are better than other company's high fee mutual funds. That's a job I wouldn't want to wish on anyone.
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Old 12-28-2013, 10:00 PM   #13
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What are you making up on the internet now?
Gtfo class of 2011. Big boys talk here.

Go back to your brix, faggot
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Old 12-28-2013, 10:01 PM   #14
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Working on Wall Street is a fraud's job. A bunch of insanely hard working strivers trying to turn a dollar into a dollar ten quicker than everybody else on the Street. It's impossible for the majority to do that. You can do that on your own time and do something useful with your mech e degree.

Besides, all the resumes in high finance are impeccable. Unless you have a high GPA with your degree from a prestigious university and good internships, forget about it. You've already missed the boat to the ground floor. Trying to break in now requires a bunch of hustle and grit, things that I assume you just don't have, since most people don't have them.

Low finance is all about telling financially illiterate people why your company's high fee mutual funds are better than other company's high fee mutual funds. That's a job I wouldn't want to wish on anyone.
Thats fair and I agree. I was just wondering if there were any particularly great positions that it would be easy for an engineer to just walk into.
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Old 12-28-2013, 10:02 PM   #15
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Thats fair and I agree. I was just wondering if there were any particularly great positions that it would be easy for an engineer to just walk into.
If only life was that easy right?
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Old 12-28-2013, 10:08 PM   #16
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Working on Wall Street is a fraud's job. A bunch of insanely hard working strivers trying to turn a dollar into a dollar ten quicker than everybody else on the Street. It's impossible for the majority to do that. You can do that on your own time and do something useful with your mech e degree.

Besides, all the resumes in high finance are impeccable. Unless you have a high GPA with your degree from a prestigious university and good internships, forget about it. You've already missed the boat to the ground floor. Trying to break in now requires a bunch of hustle and grit, things that I assume you just don't have, since most people don't have them.

Low finance is all about telling financially illiterate people why your company's high fee mutual funds are better than other company's high fee mutual funds. That's a job I wouldn't want to wish on anyone.
rapier, just curious what you do for a career? Good piece of advice and you tend to know finance/economics better than most.
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Old 12-28-2013, 10:09 PM   #17
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Thats fair and I agree. I was just wondering if there were any particularly great positions that it would be easy for an engineer to just walk into.
Absolutely not. I went to a talk on quantitative finance recently and the whole experience was more sobering than I had hoped. I've read about engineering & physics students getting hired on because they're good with math, but the reality is it just doesn't happen enough to actually pursue it. Granted, I learned a lot and the talk was great, but my hopes of going into finance were pretty much gone by the end of it.
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Old 12-28-2013, 10:10 PM   #18
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Absolutely not. I went to a talk on quantitative finance recently and the whole experience was more sobering than I had hoped. I've read about engineering & physics students getting hired on because they're good with math, but the reality is it just doesn't happen enough to actually pursue it. Granted, I learned a lot and the talk was great, but my hopes of going into finance were pretty much gone by the end of it.
Thanks for this and your post above...I'll definitely look into it but I'm definitely not counting on it.
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Old 12-28-2013, 10:12 PM   #19
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I still fully plan on blasting my resume out when I'm done, why not? I've got nothing to lose and if something sticks I'll run with it. Do the same, see what happens.
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Old 12-28-2013, 10:13 PM   #20
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I still fully plan on blasting my resume out when I'm done, why not? I've got nothing to lose and if something sticks I'll run with it. Do the same, see what happens.
Exactly my plan. People get on Wall St. with fvcking art history degrees. Not saying its common, but its possible.

I'd be 100% interested in working in IB or trading for a little while, but theres no chance I'll major in Finance or any sort of business. If it happens with my degree, it'll happen, but I'd much rather have an MEng degree for when it doesn't work out.
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