Currently in a quant investment analyst role at a fund of hedge funds - the work is slow as hell so looking to make a move to either an actual hedge fund or the sell side somehow. I get a lot of recruiters contacting me about risk roles (mostly model validation stuff or market risk analyst, quant risk analyst etc) both on the buy & sell side, but seems hard to determine whether these are actually decent roles.
Perhaps naively/cynically, my first thought would be that simply due to the fact they're reaching out to me, and in such large numbers, these roles may not be everything the recruiters are hyping them up to be? Is anyone able to advise whether these can ever lead to progression within a fund in terms of being on the investment side or if it's typically a bit of a dead end job for that.
If they're no good then where would you suggest I go from here? I'm pretty strong on the quant side of things but not PHD level so it's a bit of a dilemma. I could either keep building out my quant skills and try to land some kind of junior quant role within a fund, or somehow pivot over to the sell side in a banking role/perhaps equity research but it seems this always requires CFA/fundamental modelling skills which I don't have right now, but maybe I just need to put the work in if it's my only realistic option.
if you dislike slow, def do not do model validation or risk
I got contacted about quant risk too, I was told it would be mostly base not much bonus. From the description it sounded like you can get pretty involved with investment teams which is nice, but I don't really see them giving you any of the variable compensation upside...
Would love to hear thoughts from someone who works in this kind of role.
if you like something quanty on sell side, from what i know, i would think the following are better fits: derivatives pricing quant/developer > market risk model developer > derivatives pricing validation > others, not important any more. Market risk analyst (i.e. i assume you mean as model users/owner) are not quanty. i dont think highly of market risk model validation, not as much simulation/models/quant stuff as some might think. so, to answer your question directly, IMO, developer roles be it derivatives pricing or market risk are worthwhile, but not validation, even if it's derivatives pricing, not to mention market risk or the rest. (i don't know credit risk/ops risk.... know little about them)
i myself am a pricing validation analyst, just started my 2nd yr, already thinking moving. i like to spend more time programming models, not like in validation, thou i can building some of my stuff on the side, which is not i am paid to do... not main job...
to the OP, i am curious what your duties are as a quant invt analyst at a fund of hedge funds? thanks. you mentioned research/fundamental modelling at the end, it is completely different, don't know anything worth mentioning at all.
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