BB Systematic Trader or Quant at a new hf pod
During college, I had been dreaming work in a bb trader role since college freshman (more than 10yrs from now). So after almost 10 yrs at analytics role in AM and dev role in bb trading desk, I went back to school and received two offers in NY.
1) BB (top 3 in the asset class, but European bank) macro trader (systematic).
Job responsibilities: the company offered me this trader role to help the team build their systematic trading strategies and build tools for traders (under trader title). If my strategy is backtested fine, we can deploy it to let traders trade on the strategy. or I can have my own book. Slightly better pay (10k+ more) and more stable for me, as someone on OPT... (yes, I'm on OPT as I just graduated.)
Mentor: senior traders - tend to be VERY busy, but they are really fundamental oriented (love to explain and let me explore Fed policy, and their underlying mechanisms).
2) The quant role is at a fast growing mm hf in a 2-person PM pod. But very small (Eisler, Verition, exoduspoint, etc level). Same strategy in macro as the bb role. As the PM (experienced in sell side) is new, the pod has less capital, neutral risk management. The PM tried really hard and tried to match the comp, but still the TC is 20k lower than bb (prob 100k lower than my peers in their 30s).
Job responsibilities: db infra setup, data pipeline, data science related work, build backtest strategies.
Mentor: senior sellside trader turned PM. news / event oriented, love ML models. flexible. But I do feel he is less structured. we are very similar in many sense.
I like the people in both places. So it makes my choice really hard, as I will hurt either party if I reject. And both options are hard to break into.
Longer term, as I enjoy networking and social, I would like to start my own fund from family money first, and then expand it through my network and reputation.
Based on the detailed context you've provided about your career options, here are some insights to consider for each opportunity:
1) BB Systematic Trader Role: - Pros: - Stability and Support: Being part of a top European bank provides a stable environment, especially important since you're on OPT. The role offers a structured path with support from senior traders. - Direct Impact and Growth: You have the opportunity to develop and potentially deploy your own trading strategies, which could lead to managing your own book. - Compensation: Offers slightly better pay, which is an important factor to consider given your career stage and future aspirations. - Cons: - Busy Mentors: While the senior traders are knowledgeable, their availability might be limited due to their responsibilities. This could affect the mentoring quality you receive.
2) Quant Role at a Growing MM HF Pod: - Pros: - Entrepreneurial Environment: Working in a smaller, fast-growing environment could offer more hands-on experience and closer interaction with key decision-makers. - Alignment with Personal Style: The PM’s interest in ML models and a flexible approach aligns with your interests, which could make for a fulfilling work experience. - Cons: - Lower Compensation: The total compensation is significantly lower compared to the BB role, which might impact your financial goals and satisfaction. - Risk and Uncertainty: The smaller size and the newness of the pod carry inherent risks, including potential instability and less structured processes.
Long-term Considerations: Given your ultimate goal of starting your own fund, the choice might hinge on which role offers better long-term benefits in terms of learning, network expansion, and reputation building. The BB role might offer more stability and structured learning, which is crucial in the early stages of your career. However, the entrepreneurial spirit and hands-on experience in the HF pod could also provide valuable insights and a closer look at fund management, aligning well with your entrepreneurial aspirations.
Decision-Making Tips: - Evaluate Growth Opportunities: Which role offers more potential for personal and professional growth in line with your long-term goals? - Consider Cultural Fit: Where do you see yourself fitting better in terms of work environment and company culture? - Financial Needs: Assess how critical the difference in compensation is for your current financial situation and future plans.
Both opportunities have their merits, so your decision may ultimately come down to where you see the best alignment with your career aspirations and personal work style preferences.
Sources: Received offers from all three MBB firms and don't know what to do, Q&A: Investment Banking Associate, Very Tough Decision - Short-term Comp vs. Long-term job, Why I Enjoy Networking with Candidates, Citadel Global Equities (pay, culture, career path, lifestyle)
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