Offer compare: QMA(NJ) vs. Millennium(HK) vs. WellsFargo(NY)

Hi WSO,
I rarely post on forum and I need help from you guys to pick 1 of 3 internship offers
my background: couple years of military experience, now going to a top MFE (quant) program but my prior quant finance related internship experience is weak
After several top banks super days in the last fall/winter, I was rejected by all of them although I think I did alright during those onsite interviews. So
I think the reason of this is that my resume isn't impressive enough to them..
But since the beginning of 2020, my luck started to pour in and I got three offers to choose:
QMA(NJ) QR intern: low key but good long term alpha HF under PGIM, good pay. My worry about it is that starting in a low freq firm would limit my career opportunities in the long run and I personally like high/mid freq better.
Millennium(HK) QR intern: got the offer through an alumni, was told that I would be working directly under a macro trading PM, fast pace, good brand name and I believe that I can learn a lot there. Downside is that HK is not as comparable to US cities, fearing of a tough full time job searching back in US after 3 months internship
WellsFargo(NYC) model risk quant intern: ok brand name, pay is not as good, and risk oriented which I'm not interested. The best part is that it's in NYC, close to where I live and I think when getting a full time BB(better brand than WF) front desk quant job, they would like to see a person with more standard quant training from banks.
my long term goal is to find a full time front desk quant position at BB(Citi and above) for couple years and move on to top HFs.
Any advice is helpful.Thank you!

 
Most Helpful

Millennium HK by a long way. The learning and development opportunity there working under a Macro PM is huge. Millennium is so well known and respected that if you don't want to stay there after the internship, doors will be wide open back in the US. The sell-side will want to speak to you and other funds will be interested in the IP you were exposed to. Millennium is also already a top HF so you'll be skipping a step in terms of your long term goal.

QMA is mildly interesting but their funds aren't anything special. Definitely more of an asset gatherer and marketing machine than a performance-driven shop. If you have a family already maybe this deserves more consideration as will be much lower stress than Millennium.

Wells Fargo is a waste of your time if you're getting the other two roles.

 

Reprehenderit qui necessitatibus consequatur omnis rerum consequatur. At voluptatem perspiciatis aliquam blanditiis nisi maiores qui. Voluptate necessitatibus error illum voluptas tempore cumque ab. Quidem impedit optio sint.

Odio facere ratione est fugiat commodi consectetur. Quis debitis minus placeat culpa. Adipisci voluptate aut fuga maiores dolor sed. Magni nihil deserunt aut. Aliquam voluptatibus dolor molestiae autem voluptatibus. Blanditiis sit consequuntur voluptas animi.

Dolorum accusamus earum rerum enim necessitatibus. Ut commodi quia dolor consequatur earum ut. Dolor rerum voluptatem temporibus est. Aspernatur dignissimos provident et et rerum eaque.

At quos fugiat voluptatem eaque sint iusto. Facilis doloremque soluta cupiditate ea. Doloribus officiis est esse ut ducimus.

Career Advancement Opportunities

March 2024 Hedge Fund

  • Point72 98.9%
  • D.E. Shaw 97.9%
  • Magnetar Capital 96.8%
  • Citadel Investment Group 95.8%
  • AQR Capital Management 94.7%

Overall Employee Satisfaction

March 2024 Hedge Fund

  • Magnetar Capital 98.9%
  • D.E. Shaw 97.8%
  • Blackstone Group 96.8%
  • Two Sigma Investments 95.7%
  • Citadel Investment Group 94.6%

Professional Growth Opportunities

March 2024 Hedge Fund

  • AQR Capital Management 99.0%
  • Point72 97.9%
  • D.E. Shaw 96.9%
  • Citadel Investment Group 95.8%
  • Magnetar Capital 94.8%

Total Avg Compensation

March 2024 Hedge Fund

  • Portfolio Manager (9) $1,648
  • Vice President (23) $474
  • Director/MD (12) $423
  • NA (6) $322
  • 3rd+ Year Associate (24) $287
  • Manager (4) $282
  • Engineer/Quant (71) $274
  • 2nd Year Associate (30) $251
  • 1st Year Associate (73) $190
  • Analysts (225) $179
  • Intern/Summer Associate (22) $131
  • Junior Trader (5) $102
  • Intern/Summer Analyst (249) $85
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
kanon's picture
kanon
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
DrApeman's picture
DrApeman
98.9
9
GameTheory's picture
GameTheory
98.9
10
bolo up's picture
bolo up
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”