Decision: DB vs Prop
Hi, I am a current senior at an Ivy League school studying Physics and interned last summer at Deutsche Bank in S&T. I have an offer to return for full-time in FICC trading and am trying to decide between that and prop trading. The places I am interviewing / have received offers from are Jane Street, DRW, and SIG. What is the best decision between these for a long-term career in trading?
Currently my top choice is JSC however I am still in the interview process for them, and I am undecided between DB, DRW, and SIG. I would rather live in NYC than Chicago or Philly, however I would go to whichever place offers the best career prospects.
Thanks for the help
somebody raped recruiting...
So many killer offers.
I'd personally go with SIG or DB FICC.
I'd go with DB...better exit opps if need be
If you are on the FICC side of a BB there is ample room for prop trading regardless of what the Volcker Rule will try and do.
Definitely Jane Street. They have an informal and fun working environment and the people who work there are incredible. But of course, it depends on how much you are into functional programming. Jane Street does almost everything with OCaml
dont have advice for you but wanted to congratulate you on the offers, thats impressive.
DB, nice training in LDN, real exit opps to hfs, brand name type thing on resume (easier to take to other shops, industries should you ever feel that itch), can go international easier?, bureaucratic, more asset classes
Jane St, nice culture, we will try to keep you kind of place (eg we'll help fund your master's in cs if you come back), higher end of comp is somewhat restricted in later years (prop shop, little natural attrition), doing one very specific thing likely related to equity etf arb, equity derivs, over and over again, etc,
I say DB because of the optionality, Jane St seems like it will always be hiring and have that need (real issue is the filter of getting in, which you did already)
would not chose DRW or SIG (cities), unless really felt personality fit
DB. You will have way more exit options than prop trading.
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Oseledet I'm going through the same process as you.
I started recruiting late but I'm a physics major interviewing at all the shops you mentioned except switch DRW with DE Shaw.
Any advice on the Jane Street Interview? Would you mind if I PM you?
Sorry don't want to hijack your thread. Check this link out:
//www.wallstreetoasis.com/forums/exit-opps-from-top-prop-firmsmarket-make…
Why do people here like Jane Street over the other firms so much? I really don't see a difference between the caliber of people from my school that go to Jane Street and other top tier quant finance places like Getco/Jump/Citadel/DE Shaw.
I also know first year comp at a couple of these places and it's all pretty much the same, does it increase disproportionately at Jane Street compared to other places or something?
There is something very strange going on on these boards. I've been in the industry for a very long time, and I don't claim to know everything, but I probably know more than most people here. I can absolutely assure you that Jane Street has never been mentioned as a top competitor by anyone who really knows the markets. I know, I know, they do x% of ETF business, blah, blah, blah. It's just a fact that they should not be considered as a top tier firm. These forums have become run by Jane Street recruiters.
So who's top tier in your opinion?
Finally someone decided to pop the JSC bubble. GETCO is still pending.
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