Hi Guys;
So here we are, next week i am moving to new york, and will join the CMU MSCF program in the financial district... it's a great exciting change that i am trying to get used to now!!
I spent the past months researching career paths and wanted to get some advice from people here, because I am still undecided between a lot of things.
1) what's your take between quant research and quant trading? I love the new trend in trading (HFT / algo-trading) so this type of work is considered research or trading? how do those two paths differ in terms of pay and career progress? i found this on quantnet: https://www.quantnet.com/threads/trading-vs-quant-research.8761/ but what it seemed to imply that researchers are people sitting in a dark room laboring over developing models only to hand them over to traders who make all the money!
2) what's the difference in work environment between banks (GS, JPM, MS), hedge funds (Carlyle, DE Shaw), and prop shops (Jane Street, FNYS)? Okay, before you convict me of ignorance, i know the basics, the larger the place is, the more secure the job and the bigger the network. Prop Shops and HFs pay depends more on performance etc. BUT for a person with a quant background, where are these analytic skills most needed? if anything i like working in a place where i know i am crucial for the organization and not just doing a support role - it's nice to feel important.
3) in what markets are MFEs most needed? to be frank with you i am more interested in the currency and commodity market than fixed income, equity, or equity options. are quant roles (whether research or trading) needed equally in these markets? are there fundamental differences between work atmosphere and pay across these different desks?
i know 3 questions are worthy of 3 threads, but i'd like to get general answers and then based on those, i'll ask the appropriate follow up questions
thanks for the help!
So here we are, next week i am moving to new york, and will join the CMU MSCF program in the financial district... it's a great exciting change that i am trying to get used to now!!
I spent the past months researching career paths and wanted to get some advice from people here, because I am still undecided between a lot of things.
1) what's your take between quant research and quant trading? I love the new trend in trading (HFT / algo-trading) so this type of work is considered research or trading? how do those two paths differ in terms of pay and career progress? i found this on quantnet: https://www.quantnet.com/threads/trading-vs-quant-research.8761/ but what it seemed to imply that researchers are people sitting in a dark room laboring over developing models only to hand them over to traders who make all the money!
2) what's the difference in work environment between banks (GS, JPM, MS), hedge funds (Carlyle, DE Shaw), and prop shops (Jane Street, FNYS)? Okay, before you convict me of ignorance, i know the basics, the larger the place is, the more secure the job and the bigger the network. Prop Shops and HFs pay depends more on performance etc. BUT for a person with a quant background, where are these analytic skills most needed? if anything i like working in a place where i know i am crucial for the organization and not just doing a support role - it's nice to feel important.
3) in what markets are MFEs most needed? to be frank with you i am more interested in the currency and commodity market than fixed income, equity, or equity options. are quant roles (whether research or trading) needed equally in these markets? are there fundamental differences between work atmosphere and pay across these different desks?
i know 3 questions are worthy of 3 threads, but i'd like to get general answers and then based on those, i'll ask the appropriate follow up questions
thanks for the help!
