Career Advice for a Trader turned MFE student

[chiadam]

Hello all,

I have a bit of a different path than many of you and was wondering if I could get some advice. I have traded equity options on the CBOE for almost 5 years. As I consider the opportunities on my particular career path rather sparse, I plan on enrolling in UChicago's MSFM program in the fall to re-open many doors in trading. I would ideally like to end up on a risk desk at a hedge fund or larger trading company (for which I have some decent connections) rather than the traditional quant role that MFE programs are known for.

After giving that long-winded background, I'll get to my point. Before I pay my tuition for the UC MSFM program, I'd like to know whether my career expectations seem reasonable to the people on this board. Any and all input is welcome. Let me know if you have any questions that would make my question a little more clear.

 

[Andy Nguyen]

Giving advice about the Chicago MSFM program is really tough. It's a bit of an information blackhole and whatever we heard about them lately, the negative outnumbers the positive. I'm cautiously optimistic that after all these years, they are now rethinking their approach to be more student-oriented.
Chicago is fertile ground for trading firms of various sizes so you should be able to find something you like to do. How is your coding? Is it at ninja level yet? Do you want to build on your option trading experience or want to move into a different product?

 

[chiadam]

My coding needs work and I am spending the summer working on it. I don't really care whether I stay in options (either equity, commodity, or otherwise) or move into another product...wherever the best/most interesting opportunity is. Thanks for the feedback, Andy.

 

[Andy Nguyen]

I can't elaborate on Chicago MSFM program's career outlook due to their lack of information. Is there a reason for you to believe the program is required for you to make the next step? Would networking, applying around get you there?

 

[latency]

hi chiadam,
i am in a similar situation, working for a reputed firm but the margins seem to be shrinking and it doesnt look like there will be another 2008 again, maybe in Asia but not in the US, so looking to develop my skills to move into other areas, maybe exotic derivatives, how has your experience been in looking for jobs on the sell side?

 

[chiadam]

latency,
As for jobs on the sell side, those just aren't the sort of jobs I personally got into trading to do. In my experience, I worked at equity option market making and vol arb firms and really enjoyed the entrepreneurial nature of the job.

 

[latency]

ok, i was interested in the sell side as a next step as doing the same thing can get boring in chicago and your career in a chicago style firm ends in 5-6 years. i was interested in the sell side as that could be a next step after working in market making and derivatives trading.