From Advanced Trading:
Where will the next generation of quantitative engineers come from? According to Wall Street pros, these are the elite quant programs.Also at Advanced Trading:
A lot has happened in the capital markets since 2008, when Advanced Trading first published its ranking of quant schools. Bear Stearns and Lehman Brothers imploded, Merrill Lynch is now the wealth management arm of Bank of America, and a raft of new regulations, including Dodd-Frank, has changed the way businesses operate.
But one thing hasn't changed: the need for quantitative analysts. In fact, if anything, the demand for quants has intensified. While Wall Street has seen wave after wave of layoffs since the financial crisis -- some counts point to more than 200,000 lost jobs -- quants have remained a hot commodity. As one mathematics professor told us, quants are smart, and smart people don't get laid off.
So where will the next generation of elite Wall Street quants come from? Advanced Trading assembled a group of five top Wall Street pros with extensive experience on the trading desk, in senior management or in hiring quants to help identify the top quant programs in the U.S. Our panel consisted of Scott R. Burrill, partner and managing director at Rosenblatt Securities; David Leinweber, algorithmic trading pioneer and author of "Nerds on Wall Street"; Michael Levas, principal of Olympian Capital Management; Unson Allen, global head of recruiting at Knight Capital; and Lou Ricci, a quant headhunter for the Hagan-Ricci Group.
The Advanced Trading Top 10 Quant Schools of 2012 are, in alphabetical order: Carnegie Mellon University, Columbia University, Cornell University, the Massachusetts Institute of Technology (MIT), New York University, Princeton University, Rutgers University, Stanford University, the University of California at Berkeley and the University of Chicago. Since we first created this ranking four years ago, only one new addition has forced its way onto the list, but it has done so convincingly -- MIT was the only favorite among all five of our judges....MORE
Why Wall Street Is Hungry For Quants, Even As It ShrinksGlobal Derivatives has a pretty comprehensive list of international quant doctoral programs.
Quantitative analysis is the fastest growing area on Wall Street. Advanced Trading explores why quants are in such high demand, what the next generation of quants is learning, and how the buy side is putting them to work.
Inside the Education of a Quant
Wall Street firms may be shedding jobs, but they still need quants. Baruch College's Jim Gatheral and Dan Stefanica discuss what's in store for the Quant Class of 2012.
Meet the Next-Generation Trader Thanks to electronic markets, high-speed trading and intelligent algorithms, today's buy-side trader must evolve to survive.