In 2018 Vladimir Malygin was awarded master degrees from both ICEF and Erasmus University, Rotterdam in the Netherlands. Now he works as a quant in the Dutch company Aegon. In his interview he told us what quants do, how it is possible to study for two master’s degrees at the same time, and why personal qualities are important for candidates who apply to be quants.
How to switch from engineering to finance?
I received a bachelor’s degree from Siberian State University. I studied energy systems. While studying I understood that I don’t want to be an engineer. After the end of my studies I was an intern in one of the affiliates of Millhouse Capital fund. We had a small team of people with different backgrounds – from physicists and engineers to financial experts.
While working there I faced various efficient investment problems. I understood that I want to get systematic knowledge in finance. I was looking for an ideal master’s programme. The ICEF programme attracted me in a number of ways.
First, it is a modern quality finance education from a well-known school. Second, I wanted to be surrounded by talented and ambitious people. Third, I was looking for the opportunity to study in English.
I did not think about the possibility of studying abroad, but since HSE cooperates with a lot of foreign universities, students receive an opportunity to get experience of studying all over the world. Thus, I got to know about the option to study with a big discount in the Netherlands and receive a master’s degree from ICEF at the same time. I decided to give it a shot. As a result, I managed to defend two dissertations and double the effectiveness of the programmes. Moreover, I got interesting experience in a famous European University.
What is the difference between universities?
As a bachelor student I had a classic technical education, but I had little practice. I took part in an exchange programme where I studied at the Czech Technical University in Prague. I can say that there they pay more attention to applied skills. But if I compare ICEF with Erasmus university, it is harder to find differences. In ICEF we have an international approach to education. You can decide for yourself on what you want to put emphasis. I could combine the applied programme in Erasmus with the research possibilities at ICEF.
What else is highly appreciated in ICEF is that all the teachers and staff are accessible. The programme can be called personalized – there are small groups, a wide choice of extra educational options, the possibility to focus on research or on more practical things. The first study year is dedicated to building knowledge in maths and economics. The second year is more practical, with courses in investment analysis and finance programming. You can build your study plan so that you can start work right after the graduation or go on to do a PhD.
In Erasmus they study in big groups, and they do not have such a homely atmosphere as in ICEF. But what I liked there is their practical courses which last one semester. Students do not attend lectures at that time, as they are busy with research projects. For example, we could try investments. Within the framework of this course we managed our own online fund.
Main advantages of ICEF master’s programme in Financial economics
The London School of Economics (LSE) Certificate and joint degree at LUISS (Italy)
Instruction is in English. The membership of our board of examiners includes independent experts. The certificates, duly signed by LSE director, are an endorsement of internationally-recognized quality and consistency with standards of the UK Quality Assurance Agency for Higher Education. Since 2017, students have been free to pursue the joint Master’s Degree in Economics and Finance at the Guido Carli Free International University for Social Studies (LUISS).
All our full-time academics have been awarded PhDs from top-ranked universities of the world
Among our faculty staff are visiting professors (Stanford, Oxford, LSE) and Russian practitioners (Sberbank, Gazprombank, KPMG, Deloitte, BCS, to name a few). It is a requirement that each lecturer receives a positive endorsement from the ICEF International Academic Council.
Alumni Club and Career Centre
Launched in 2007, the programme has been completed by 200+ participants, who are now solid professionals providing ICEF Career Centre with job offers from their employers. Even though this master’s level programme may not be a perfect fit for those intending to combine studies with work, it offers professional experience opportunities through internships, some of which are salaried. Also, contacts in the industry can be gained via our employer-hosted eleсtives (McKinsey, Deloitte, among others) and the regularly held meet-alumni sessions.
How to become a quant and what is needed for that?
I can say that if a person likes to combine math and programming , in your first year on the course, you can study math hard and develop in programming. You need to know at least one programming language. Current students are lucky, since 2019 we have had a special machine learning course taught by Fabian Slonimczyk.
After receiving my master’s degree, I decided to go back to Russia and started working as a project manager in Skolkovo. I had my own portfolio of companies – startups. My job was to help startups grow faster. I built financial models, helped work out presentations. I plunged into the project and helped to find a new niche.
During my work in Skolkovo I noticed that I like quantitative analysis of my portfolio and the portfolio of the whole fund. I felt the desire to work in an international company and was looking for a position as a quant there.
Finally, I decided on the Netherlands – a country I was already familiar with. I passed a test, two online interviews, three interviews in the office and got into Aegon. It is an international company which focuses on pension and insurance services as well as asset management.
How do the Dutch work?
I work in the Dutch office of Aegon in CIO Office. Our department operates Aegon NL assets. Our team consists of investment managers, I am the only quant there. Most of the company workers have a degree in math or physics.
Work in the Netherlands differs mostly in the people. Frankness and straightforwardness are the main characteristics of their communication. At the beginning it seems very unusual that there are no curtains on the windows, and you can see everything that is going on there. It is very important to show your sincerity and sociability in the interview – it means that your values are close to the values of the Dutch.
Almost everybody speaks English here, it is the second national language. According to “Economist”, the Netherlands has the highest level of English language proficiency among non-English-speaking countries.
It is interesting that people do not work much in the Netherlands. They work little but efficiently. It is not important how much time you have spent at the table. What matters is the number of projects you have done. These must be done quickly and be of high quality.
What are the advantages of life in the Hague?
My office is in the Hague. I should say that I like my life in the Netherlands. Since studying I have made a lot of friends here. I like the culture of this country. It is very nice that the country is small, it takes you no more than 30-40 minutes by train to get from one town to another, you do not need to drive a car and leave a carbon footprint. You feel freedom here, not only in movement, but also in self-expression. The Dutch can be characterized as self-confident, they have a very good atmosphere. It is nice that, unlike Germany, shops and restaurants are not closed in the evening, although this town cannot be called very touristy. After work people often go in for sports and meet friends in small pubs. So, the Hague is not a boring town. Many people go to hang out in Amsterdam or attend some huge events there although lots of cultural events take place in the Hague. We have the sea and the coast here and it is always wonderful. At the weekend people always have something to do. I am going to stay here for some time, I really have very much in common with the Dutch.
