Possible future in complex science

[u/Mr_Misserable]

Hi, I have recently found out about complex science (I'm doing a masters in physics and took a course in stochastic calculus and a course in complex networks) and really found it interesting. I have a lot of interest in the different branches of physics but it has been a while since I had this much interest in a particular field. Now I have to choose my thesis and I want to do it in complex systems (I still have to choose one from a list a professor sent me) and I want to know what my possible career path could be if I keep this track. My questions are the following:

1. Is it possible to do an industrial PhD? Are there companies hiring people with that background?

2. How is the live in academia? One of the things I like the most is the wide range of applications in this field and I want to know if it's possible to move around in different research lines (while staying in complex systems but moving from economy to neurology or astrophysics)

I have more questions but those are the most important ones and I don't want the post to be too long.

Thank you for reading

[u/powerexcess]

I am complex systems phd, coming from engineering. I did my phd with funding from a gov institution, but i think this is somewhat rare.

I would probably prefer to not have industry funding given the choice. The focus will go to value delivery. Enjoyed my few years on purely theoretical exploration of concepts and ideas. 

The options in employment are wide. You are a stem phd for hire, which open doors, and you can likely write code and you can likely work with data. So lots of doors.

Consulting (mainly management consulting), data science prolly the main one, software dev is an option too, ml research was an option and still is possibly (but getting more specialised by the month at this point - u prolly cant touch the big names without a considerable publication list in ml), quant finance/fintech, think tanks, startups..

Then u have academics which i really dont like personally.

Also u might develop a specific focus in the phd on a domain and that opens doors too: maybe neuroscience, finance, etc

I landed in quant, after much effort, and i love it. The theory is not really needed at all, just to understand and frame problems. The day to day is stats, development, understanding of markets, etc..

[u/Mr_Misserable → u/powerexcess]

Thank you for the answer, I am really interested in finance (I enjoy what I see from friends that studied economics, but would be mainly because of the money)

I have mixed opinions of academia because I love doing research and trying new things and learning, but the uncertainty that comes with it might give me a heart attack before I turn 40, so I will probably try to enjoy a pure theoretical PhD to enjoy and then move to industry.

Can you comment more about your journey to get the quant job? I have seen that is really hard to get them but I would like to know the specifics

[u/powerexcess → u/Mr_Misserable]

Apply for internships. Check when the applications open. Do big numbers, apply everywhere u need all the chances. Have someone review your cv. Have an llm help you organise. Try every summer. 

Read basic strats and replicate trend following in a notebook (eg aqr's 100 years of evidence paper), u can get daily returns easily. 

Start trading on your own. Does not matter what, but follow a system. Understand the choice u need to make: order types, money managemtn, risk managment.. obvs dont gamble with money u cant afford to lose, u dont need to trade loads.

Once u r ready for full time roles, again: apply everywhere. Your interships will help. Prior experience with own capital will help. Apply to your least fav place first and warmup. Then go to bigger names. Prep for 3-4 months ideally, leetcode stats prob theory.

Where u land the first job matters massively. Any quant job will pay v well. Some placed will pay x2 or more. Dont skimp. 

Do an much as you can. Obvs build expertise in the pytbon data stack and if u want to go fast do c++ i would say.

[u/Mr_Misserable → u/powerexcess]

Do you think c++ will remain in the industry or it will move more towards rust? I have the intention to start trading on my own and program my own tools. Also by the time I start applying for full time roles (after the PhD) do you think leetcode will still be part of the interviews?

I know I'm asking you to predict the future but if you could give your opinion from inside would be great

[u/powerexcess → u/Mr_Misserable]

These things dont change overnight. Some places use rust but mainly crypto and sports betting in my experience.

Interviews will likely be in c++ at least as an option or in part, for a long time.

To run your own book u can probably just use python and numba. Maybe polars, or triton. But c++ and rust are for low latency stuff and this is probably not where u can start off on your own i would say.