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FO is shrinking across the large investment banks. The market is not developing new products that will need new pricing formulas, if anything it is reverting to more vanilla structures. Nowdays FO quants typically hack existing models around the corners to manage new market conditions (change Sabr a bit to deal with negative rates, refine the treatment of ...


There is absolutely bright future being a pricing quant, so don't make it a reason for you not doing a degree in financial engineering. Being able to buy a relative cheap (still not that cheap, eg: Numerix charges like a million...) solution for quantitative pricing doesn't mean you don't need a quant. This is like saying we don't need a bus driver because ...


Assuming that you are totally new to the field, Columbia's Risk Management and Financial Engineering course on Coursera is an excellent introduction. It focuses on discrete time models and you will need only a bare minimum knowledge of the revel ant mathematics. Otherwise, I've never seen a useful intro RM text.

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