Some of our most-googled articles have been the stories we've written on hiring quants and finding quant talent. Ever since algorithmic trading took off more than five years ago, quants have played a critical role on Wall Street, and recruiting them has become a full-time job. Because quant expertise can set one firm apart from another, these highly coveted students who excel in math and programming are granted some of the highest starting salaries in any industry. These math and programming specialists are filling all types of roles on Wall Street -- not just in equities algorithmic trading. They hold positions in functions ranging from trading to risk management, and yes, there are even quant positions in the back office. And hiring quants is not just for the sell side; there has been an uptick in demand for quantitative roles at hedge funds, traditional asset management firms and even technology companies servicing the Street.

Wall Street used to seek out only Ph.D.s to fill these roles. But the growing demand for quants has outstripped the finite number of Ph.D.s entering the workforce each year. Fortunately, many universities have recognized the growing demand in the financial services community for graduates with strong math and programming skills and have tailored programs to meet the needs of Wall Street -- or, in other words, to help prepare their students for successful careers in the industry.

Not surprisingly, many of the directors of these programs come right from the Street, hailing from top firms such as Goldman Sachs, JPMorgan, Bloomberg and other financial services firms that are entrenched in the pursuit of ever-more-sophisticated programming to enhance electronic trading, risk management, algorithm development and other areas of the business. For example, Emanuel Derman, who is well known on Wall Street for the many models he has created as well as for his book, "My Life as a Quant," runs Columbia's financial engineering program, while at the same time keeping a foot on the Street as head of risk management at hedge fund Prisma Capital Partners. Many of the other directors also are well known in the industry. This is an important factor in understanding the needs of Wall Street and producing students who are well equipped for a bright financial services career.

<i>Advanced Trading</i> has tried to make the quant recruiting process a little easier by creating a board of astute Wall Street practitioners who recruit their talent from academia to identify the top 10 master's programs based on which ones produce the most successful, highly coveted quants in the industry. We took it a step further with a story by Executive Editor Cristina McEachern, who accompanied the top 10 list with a story on "What Makes a Good Quant." If you're looking for quants -- and I'm sure you are -- this is a good place to start, and these schools are where you should focus your efforts.