Hi Everyone,
Wanted to get your opinions on moving from a Trader role at an investment manager to a Credit Trading Assistant role at a NYC multi-strat HF.
Some color..
Started in ops.
Moved to west coast (think SF,LA,SD) and landed at an investment/wealth management firm. Currently trading a variety of their vanilla strategies across equity, fixed income, equity deriv products.
Currently building out their trading desk for improved execution and liquidity. Gaining valuable skills and experience in doing so.
I'm near the end of the process for a credit TA role at a sizable NYC multi-strat HF.
Current TC: ~115k vs TA TC: ~175k+
Is this a step back? Or a step in the right direction? I do want to get over to a HF for a few reasons: get to see how they trade, experience new strategies and products, and improve my network (and increase take home as well). Or should I sit in my current seat and continue to gain the skills and experience on the desk?
Very conflicted so all opinions welcome. Thanks!
Based on the most helpful WSO content, transitioning from a Trader role at an investment manager to a Credit Trading Assistant (TA) role at a multi-strat hedge fund (HF) can be seen as both a step back and a step forward, depending on your long-term goals.
Key Considerations:
Compensation:
The TA role offers a significant increase in total compensation (~$175k+ vs. your current ~$115k). This is a clear financial upside.
Exposure to Hedge Fund Strategies:
Moving to a multi-strat HF will provide exposure to more complex strategies, products, and a faster-paced trading environment. This aligns with your goal of learning how HFs operate and broadening your skill set.
Networking Opportunities:
Hedge funds, especially in NYC, offer unparalleled networking opportunities. Being in this environment can help you build relationships that may open doors to more senior roles in the future.
Role Perception:
While the TA role might seem like a step back in terms of title, it could be a strategic move forward. Many WSO threads highlight that hedge funds often promote internally, and excelling as a TA could position you for a trader or even PM role down the line.
Current Role Growth Potential:
If your current role allows you to build out the trading desk and gain execution/liquidity skills, it could lead to a more senior trading position. However, the scope of growth might be limited compared to the opportunities at a multi-strat HF.
Long-Term Goals:
If your ultimate goal is to transition to a hedge fund environment, this move aligns well. However, if you’re looking to stay in a pure trading role, you might want to weigh the potential delay in moving back to a trader seat.
Insights from WSO Threads:
Recommendation:
If your primary goal is to break into the hedge fund space, gain exposure to new strategies, and expand your network, the TA role at the multi-strat HF seems like a step in the right direction. However, be prepared to prove yourself and work towards transitioning back to a trading role within the HF. If you’re more focused on staying in a pure trading role, you might consider staying in your current seat and continuing to build your skills.
Sources: Q&A: Credit hedge fund analyst at MF, former BB trader, Q&A: Currently at a Credit Hedge Fund, Q&A: ex-bank trader now running crypto hedge fund. questions?, The Progression of a Fixed Income Trader, London Advice on current situation and transition to IBD/S&T
what do you need to know for the interviews? like what kind of questions did they ask? curious
why did i get hit with MS, trying to learn too man
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