Hello Guys,
I graduated Comp-Sci in top school and worked as strategist in BB for a year. I recently got some offers with very similar benefit and package. However, actual role and environment is quite different.
My goal is to build my own profitable blackbox quantitative strategy in long term (~10 years). Whether be part of small team or founding fund.
Tower portfolio managers more fits to my goal of career. However, this role is more assistant function to do analysis, risk monitoring and reporting. Good thing is, they give me lot of free time to do research and simulation. If it becomes profitable then got promoted to Portfolio Manager (Quant Trader). There were junior traders did this for one to one half year and got promoted to PM. On the other hand, it is very siloed culture and I know it is pretty hard to build own profitable strategy by myself. This is quite risky choice but I can give a shot to do this with prestigeous firm.
XR is typical young Chicago prop firm. Good thing is they are very collaborative, open culture. When I visited their office, people looks happy to work as team. I met all management team and they look ambitious and reasonable. Besides culture, role is more like typical automated market making trader job. Production trading, research new trading strategies for team, react with market etc. Like typical MM firm, they share profit and ideas within team to improve team's performance. Firm and position is perfect for me if I am going to pursue market making trader. Also surprisingly compensation is also good even it is Chicago.
However, as I mentioned my ultimate goal is more on Stat-arb style black box HFT trading, and some friends in derivative MM side told me work itself is quite different. Prior style is focused on statistical analysis, machine learning, pattern recognition and some data driven work but second style is more focused on market insight just like discretionary traders with more quantitative, technical skills. However my colleague who worked in stat-arb team and moved to MM said fundamental skill set is quite similar.
I discussed this with colleague, family and professionals but I want to hear some more opinions and information about these opportunities.
I graduated Comp-Sci in top school and worked as strategist in BB for a year. I recently got some offers with very similar benefit and package. However, actual role and environment is quite different.
My goal is to build my own profitable blackbox quantitative strategy in long term (~10 years). Whether be part of small team or founding fund.
Tower portfolio managers more fits to my goal of career. However, this role is more assistant function to do analysis, risk monitoring and reporting. Good thing is, they give me lot of free time to do research and simulation. If it becomes profitable then got promoted to Portfolio Manager (Quant Trader). There were junior traders did this for one to one half year and got promoted to PM. On the other hand, it is very siloed culture and I know it is pretty hard to build own profitable strategy by myself. This is quite risky choice but I can give a shot to do this with prestigeous firm.
XR is typical young Chicago prop firm. Good thing is they are very collaborative, open culture. When I visited their office, people looks happy to work as team. I met all management team and they look ambitious and reasonable. Besides culture, role is more like typical automated market making trader job. Production trading, research new trading strategies for team, react with market etc. Like typical MM firm, they share profit and ideas within team to improve team's performance. Firm and position is perfect for me if I am going to pursue market making trader. Also surprisingly compensation is also good even it is Chicago.
However, as I mentioned my ultimate goal is more on Stat-arb style black box HFT trading, and some friends in derivative MM side told me work itself is quite different. Prior style is focused on statistical analysis, machine learning, pattern recognition and some data driven work but second style is more focused on market insight just like discretionary traders with more quantitative, technical skills. However my colleague who worked in stat-arb team and moved to MM said fundamental skill set is quite similar.
I discussed this with colleague, family and professionals but I want to hear some more opinions and information about these opportunities.
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