Archive for the ‘Non-Academic Jobs’ Category

Quasi-academic jobs

Monday, October 19th, 2009

The Chronicle has an interview of Scott Keeter who after twenty-four years as university faculty member is now working in a think tank  The interview dwells on the similarities and differences between academic jobs and ‘quasi-academic jobs’. Quasi-academic jobs are not necessarily restricted to think tanks for political scientists. Many economics academics consult for governmental, non-governmental and commercial organizations. Mathematicians and computer scientists do foundational research in the IT industry where the big firms have big research and development departments.

Keeter makes many pertinent points which are applicable to any quasi-academic job. In order to make a better transition, Keeter mentions two aspects to keep in mind. Firstly, a graduate program may not give enough opportunities to work in teams and collaboration and team work has to be inculcated. Secondly, one may get used to speaking and writing to academic audiences. It is essential to get more training to write for nonacademic audiences. The interview also highlights the importance of being able to juggle many responsibilities at the same time. This is something which I feel academic do have good training in what with handling research, teaching, getting funding and administrative matters.

One aspect which is not really discussed is to have a better business sense of the research area even if one’s own research is more foundational in nature. This is because even if one is working in a research group within a company, business interests run supreme in many instances.

The interview suggests ways to get an entry into quasi academic jobs. It is helpful to intern in appropriate organizations during graduate study and also to keep in touch with one’s relevant professional association.

Statistics in demand

Wednesday, September 9th, 2009

The NYT has an interesting article on the importance and demand of statistics in the internet age. The main theme is that although huge amount of complex data is available, there is a pressing need for useful analysis, identifying patterns, spotting anomalies, and understanding and making use of the information. This can be for marketing purposes, and business decision making. Other applications mentioned are improving Internet search and online advertising, cancer research and optimizing food shipments.

The application in recommendation systems is also outlined with the example of the recent Netflix contest where $1 million were offered to anyone who could significantly improve the company’s recommendation system. The article also highlights some well know companies where statisticians are well sought. Among them are Google:

“I keep saying that the sexy job in the next 10 years will be statisticians,” said Hal Varian, chief economist at Google. “And I’m not kidding.”

Opportunities at IBM are also mentioned:

I.B.M., seeing an opportunity in data-hunting services, created a Business Analytics and Optimization Services group in April. The unit will tap the expertise of the more than 200 mathematicians, statisticians and other data analysts in its research labs — but that number is not enough. I.B.M. plans to retrain or hire 4,000 more analysts across the company.

In the article, related fields such as mathematics, economics and computer science are also highlighted. The main take home message is that numerical skills are not required in traditional fields such as the insurance industry but in other businesses too.

Credit Crunch

Tuesday, November 4th, 2008

It appears that the credit crunch will have an impact on job application patterns and for PhDs looking for jobs.

This is not particularly good news for final year PhD students who are starting to explore various job possibilities. Some friends who were doing quantitative jobs in the London financial sector have been laid off. I have not heard much on how research funding in the UK will be affected but some state universities in the US will not be planning to do any hiring for the next year. The following is an excerpt of an email from a director of a research centre in a US university: (more…)

Investment Banking for PhDs – Part II

Friday, July 11th, 2008

Piotr Karasinski is the global head of quantitative development at HSBC. He was a successful academic before he shifted to Wall Street. Therefore if anyone is able to give some insight into investment banking it would be him. Piotr Karasinski explained that the role of quantitative analysts is to “implement derivates pricing models, develop tools for calibrating model parameters, analyse model performance and provide trading desk support.” (more…)

Investment Banking for PhDs – Part I

Thursday, July 10th, 2008

I recently received an email from a ‘banking science’ organisation that had arranged a workshop where practitioners from the financial services industry in London would give an insight into their job. The workshop was specially geared towards PhDs. Since quite a few friends from mathematics and science have ended up in this sector, I thought it was worth checking what the excitement was about. A book which I had read recently also interested me towards this event. (more…)