DE Shaw vs Smaller Multi-Strat
I’m currently in an equity vol trading desk at a bank (exotic derivatives) with 1yoe and have offers to move to the vol arb pod at DE shaw (only one in the US and one of more secretive pods in vol space) or one of the smaller multi strat funds (think Walleye, Verition, Brevan Howard) for a convert arb pod with just the PM.
I’m trying to make the decision and feel like Im more inclined toward DE Shaw but was wondering what people thoughts are here? Is DE Shaw good for a semi-discretionary trader as it’s not a pure quant shop (and I am not a quant researcher)? Have heard their approach is more quantamental even in vol arb space. What do you think of that vs a more autonomous multi strat seat? And convert arb? Also pay is a decent amount better at DE Shaw.
Take DE Shaw. It will allow for a relatively higher sharpe early career (income per unit risk) and you will learn a ton with good atmosphere/infrastructure. After a couple years you can leverage this experience to get an actual PM seat. In pod world it is harder to get promoted from analyst to PM, and if it is a two man show (just you and the PM) it is quite the gamble.
Can I ask, were you reached out to through a headhunter?
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