New Grad: fundamentals at citadel securities vs. hedge fund
Hi all,
I'm currently debating between two offers and am looking for some advice.
Fundamental Analyst at Citadel Securities:
- Comp: base of ~200, sign-on and bonus of ~50 ish
- Location: NYC
- Thoughts: I interned here over the summer and was lucky to receive a return offer. Although the hours and work were rough (had to go in on weekends sometime), the comp and location are both attractive. However, the fundies analysts are second-class to the traders, and I'm not sure how much growth exists in this space.
- I recruited pretty lightly, and was able to secure a role at a small hedge fund.
- Comp: ~300 first year
- Location: Chicago
- Thoughts: If this role were in New York, I'd take it in a heartbeat. The comp is higher and I think the work sounds more interesting. There's a lot more autonomy in this role and the firm is smaller, so you truly own the things you cover. They mainly focus on equities. WLB is likely better than Cit as well
My decision is due soon, since the offers are both exploding. I'm really unsure of what to do.
Firstly, I think NYC is a really big pull for me. I loved my time in the city this summer and would love to go back. The only issue is I don't know how attractive the fundies analyst position is. I'm not sure what exits would look like at either place (fundies is super niche, and on the other hand, the hedge fund is super small so pretty unknown). If the hedge fund were in New York, I'd take it in a heartbeat, since I'm young and I think it's better for me to take risks on my career. Comp's not a huge differentiator here, I guess. Just the location and future opportunities that might come out of the two positions.
Really conflicted here. Awful of me to say but almost wish that I didn't land one of them so I didn't have to agonize over this. Which position would you guys take? What considerations would you make? Keep in mind I'm a 22 year old, about to graduate in May
Two roads diverged in a yellow road...
This is a tough one. I would choose Point72 Academy
I would too.
Jokes aside I would pick Citadel. Brand name for stability, city you want to be in. Minimizes downside risk and shouldn’t be too much of an uphill battle to recruit for traditional L/S. Safer long term option imo but can’t go wrong if you go with your gut
Citsec is far more stable of a place than a hedge fund bc MM has been doing incredibly well over the past couple years. It's 2 very different roles, as IMO prop shops are likely to be the future. I personally would pick citsec, but both roles will lead to good long term outcomes.
Know this isn't related to your question, but can you give some vague details on the types of projects you had? Also the kinds of work people do FT there?
Seen some threads on fundamental analysts at market makers in general, but wondering if citsec is different
IMO take the HF and don’t look back.if you want limited upside playing poker at job everyday but w good job security take citsec (idk if you know the coop trajectory but there really isn’t finance level upside). You’ve already interned at Citsec you’regood w that brand name there
I know this post is fake, because if you really did intern at Citadel and they liked you enough to make a return offer, then there is ***no freaking way*** another fund (who didn't get to observe you for a summer) would offer you more than Citadel (who did get to observe you and verify that you're worth it). Especially since you didn't name that other fund so it's presumably a 2nd or 3rd tier.
If Citadel likes you, they will *NOT* be outbid. And especially not if the other offer is in a lower cost-of-living city (Chicago vs NY). Citadel does not lose candidates over money. I don't believe this is a real post, but if it, just show the other offer to your citadel recruiter and they will match the number immediately.
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