AM at a BB or Software Dev at a startup for Quant / Quant Trading?

[aksiram]

I am a MS in CS grad from a target and have offers from a BB as a fundamental AM analyst, as well as Software Development at a startup (big data). However, what I really want to do is Quant / Quant Trading in the future. The AM offer would enable me to network with the quants in the firm, but it doesn't necessarily prepare me in terms of the skill set. On the other hand, the startup offer is the other way around, some relevant skill set (pattern recognition, machine learning, nlp, etc.), but without the networking capabilities. Which one would be a better option?

 

[Andy Nguyen]

There is a risk of your startup going broke in the next few years. Statistically speaking, many startups fail within the first few years. That risk is much smaller with a BB. That said, you may get pigeon-holed into a narrow skillset as an AM analyst while the big data skills you learn can only open more doors in the future.
See where you are in this stage of your life, if you want to take more risk, more reward. Compare the comp package between the two offers, the location and life style you prefer. I have a feeling you will less stressed out at the startup than as a traditional BB analyst role. You want to spend your weekends going to work to finish the report for your boss?

 

[didje]

@aksiram : I had the same kind of problem. Was offered a Algo Quant role in a small brokerage firm in Switzerland vs. a Structuring role in a BB. Ended up choosing the BB. Regretted it (big time !). Now moving back to an algotrading role in a second-tier bank.

My point of view : If you really now what you want to do (Quant Trading) and the startup offers you the opportunity to do so, or at least to learn things very useful for this role... And if the compensation is good... then choose it. In the long-term you will not regret it. After your role as a Asset Manager analyst, unless you make the right contacts in the BB and they are willing to hire you based on your reviews.... how will you convince someone to choose you instead of the other young guns with the right experience in the right field ? Brand Name is not everything.

 

[alain]

@aksiram : I had the same kind of problem. Was offered a Algo Quant role in a small brokerage firm in Switzerland vs. a Structuring role in a BB. Ended up choosing the BB. Regretted it (big time !). Now moving back to an algotrading role in a second-tier bank.

why did you regret taking the structuring role? What was so bad about it? Why do you think the algo trading role would be different? It would be good to know more.

 

[didje]

@alain : I explained it bit in this thread https://www.quantnet.com/threads/can-you-help-me-choose-between-those-two.17407/#post-143216

The team was in charge of issuing documents such as term-sheets, final terms and activity reports to exchanges, salespeople and management. No exposure to the market, models, pricing, no market nor risk analysis... But thanks to an information system they had set up, a lot of things were automatized so I got to use SQL and VBA to manage, create and modify those documents.
I think it would have been a good "first" internship in college, in order to get to know the environment, meet people, learn to work hard, long hours etc... but it was not a good "last" internship (it is my last)...

PS : But for @aksiram like I said... if he feels that the internship at the BB will give him enough value for his future career then go. But quant trading, quant analysis etc.. these are very technical jobs. The more experience you can show with those technical skills the better.

 

[Liam]

@alain The team was in charge of issuing documents such as term-sheets, final terms and activity reports to exchanges, salespeople and management. No exposure to the market, models, pricing, no market nor risk analysis...

But quant trading, quant analysis etc.. these are very technical jobs. The more experience you can show with those technical skills the better.

This is my experience - I suffered a zero market exposure job for 6 years thanks to my quant team being shut down. The last bit is correct - any time I tried to get back into quant work my time out of quant finance was used against me. It's only this year that I'm really back on track in terms of doing something mathematical, but flat broke in the process. It's not as a quant but point is it's something I like and that I'm good at.

I think something for the OP to think about is that it's not really about doing what you want but what FITS. Quant stuff is good for massaging the intellect, but can be very tough, so what you want to do can change over time. I can't really do the OP's choice for them but they'll probably find that companies going broke or role instability won't really matter in the grand scheme of things if they ensure they be where they are most useful. It can be easier to get a job in something you're born to do during a recession, then it would be to get a "jobby job" where you've limited potential during boom-times. Trust me that's my experience with it.

 

[aksiram]

Happy Holidays! Thanks for all the inputs! Actually right now I'm deciding between AM hedge fund analyst or risk tech, both at top bulge bracket banks. Ceteris paribus, would it be easier to transfer to Quant from the AM or Tech position?

 

[alain]

Happy Holidays! Thanks for all the inputs! Actually right now I'm deciding between AM hedge fund analyst or risk tech, both at top bulge bracket banks. Ceteris paribus, would it be easier to transfer to Quant from the AM or Tech position?

why would you want to transfer?