Quant Gold Book Honoree - Xiaoli 'Shelly' Shi

Advanced Trading 2008 Quant Gold Book Banner

Xiaoli "Shelly" Shi, Rutgers University

Vital Stats

HOMETOWN: Beijing
Master's Program:
Rutgers University Master of Quantitative Finance (M.Q.F.)
Additional Graduate Work:
Ph.D. in physics from Universite de Paris; postdoctorate work on mechanical properties of intermetallics at Carnegie Mellon University
Undergraduate Degree:
Degree in physics from Peking University, Beijing
Honors: I received a scholarship from Peking University for academic performance.
Work Experience: I did research work at PPG, a coatings and specialty products and services company, in Pittsburgh. I also worked as a public school math teacher for a year.
Mentor: I don't really have a mentor. But at the Rutgers program, the professors are very helpful. Many of them have Wall Street experience, and they share their experience with us, which is very helpful.

Email this Profile

Interview Conducted By Kerry Massero

Qualifications and Background
Aspirations
Beyond the Numbers

Advanced Trading: Why did you choose the Rutgers Master of Quantitative Finance program?

Shi: I did research to find out about the curriculum. I was also interested in it because I am a New Jersey resident. I visited the school and got a lot of information before enrolling. So far I have had a very positive experience here. I have been here for one year, and we graduate in May.

AT: What did you do in the time between earning your undergraduate degree and entering the M.Q.F. program?

Shi: I earned a Ph.D. in physics from Universite de Paris in France. After that I did postdoctorate research on mechanical properties of intermetallics at Carnegie Mellon University -- that's my quantitative experience. I enjoy scientific research.

I also did research work at PPG in Pittsburgh. It's a coatings and specialty products and services company. My research was on glass infrared reflective coating. I also worked as a public school math teacher for a year. It was very special because it helped me with interpersonal skills, which I think are very important for a career on Wall Street.

AT: Do you have any prior programming experience?

Shi: I did some coding, but at the time I was using software. As part of the finance program at Rutgers, I've spent a lot of time working on computer technology. I took courses using C++ and Java, and we've done many projects involving financial modeling and coding, so I have gained a lot of experience in this area.

AT: What first interested you in Wall Street?

Shi: I read a lot about the financial world. I read "How I Became a Quant: Insights From 25 of Wall Street's Elite" [edited by Barry Schachter and Richard R. Lindsey]. It is about how many different people with various backgrounds became quants. I looked at the different stories and found them to be very inspiring. Every person is different; my experience is certainly very different. I am not necessarily following someone, but those stories were certainly very inspiriting.

AT: What classes are you taking that will be essential to helping you be more prepared for a job on Wall Street?

Shi: The finance courses are relatively new for my experience. I really enjoyed the fixed-income class we took last semester. In that class we used quantitative skills to solve a real problem, which will be helpful for my career on Wall Street. Some other courses I enjoyed very much are the classes in which we use our math and computer programming skills to solve real problems. For example, one class last semester was on system simulation. I especially enjoyed the final project, where we used Monte Carlo simulation to do options pricing.

AT: How would you rate your knowledge of the business of financial services, on a scale of 1 to 10?

Shi: I don't have any working experience in finance, but I do follow the market -- I read the Wall Street Journal every day and many books about Wall Street business, not just math and computer technology. Speaking about knowledge, not experience, I'd say an 8, and by the end of the year before my graduation I would like to reach a higher level.

AT: Why did you choose to pursue a career on Wall Street?

Shi: One thing I like about the financial industry is that I can use my quantitative skills, but at the same time my job would be closely related to the real world. I enjoyed scientific research, but the financial industry is more closely related to the real world in that what you do has an effect on the financial industry. In scientific research or physics, you can change the world, but you are a small part of the big picture. In the financial world, quantitative math is relatively new, so you can have a quicker impact on the real world than scientific research. Scientific research is longer term.

Wall Street is very interesting, challenging and competitive, which fits my personality. I was interested in quantitative finance a long time ago. I had applied for the quantitative finance program at Carnegie Mellon and was accepted years ago, but for family reasons I decided to postpone it for a few years. But I decided to come back to it because I am very interested in pursuing this career.

AT: In what type of role would you like to start?

Shi: I would like to start in any job that is related to quantitative finance. It's hard for me to decide on an area because I am interested in many areas, including risk management, fixed income and other areas that use quantitative finance.

AT: What do you see yourself doing in two years? In 10 years?

Shi: I'd like to enter the finance field using quantitative and analytical skills and later, after I've gained experience in finance, I'd like to stay in the financial industry but be in a managerial role. In 10 years I'd like to be in a managerial position. I'd like to work in risk management, fixed income, options pricing, etc.

AT: What about algorithmic trading?

Shi: I am also very interested in this, but I believe there are many people doing algo trading so the process is more competitive. I still think you can make a lot of money in algorithmic trading, but [our program] emphasizes these other areas -- I guess I would say new growth areas -- such as risk management.

AT: Name three firms you'd like to work for.

Shi: The job itself is more important than the name of the bank or the name of the firm.

AT: Do you have a preference -- buy side, sell side or hedge fund?

Shi: I think there are more quantitative professionals on the buy side. The sell side has more M.B.A.s. I am more interested in the buy side and hedge funds.

AT: What sets you apart from other quant candidates?

Shi: My biggest strength is my ability to solve a real problem. I also have the research background. But what I do best is use my analytical skills to handle the real complicated problem and to transform it into a working model. That is one of the reasons I decided to join the financial services industry.

AT: What three questions would you ask a prospective employer?

Shi: What would the everyday responsibilities of the job be? How does the job fit in with the big picture of the company? What contributions would the job make to the larger company? How is the job related to the future development of the company?

Previous Profile

Next Profile

Popular Articles