I'm one of 2 finalists that made it into a role at a BB. It is an entry level business analyst with the derivatives technology team. It will revolve around designing technology solutions for the traders, but not actually coding them, .i.e. project management.
This position requires a 3.6 GPA from a top school and a comp sci background. Apparently after a large number of interviews, they were only able to take me and one other person. I received an offer which was rescinded after I accepted it, pending my successful completion of an extremely advanced project in which I had to design a real-time trading system with fault tolerance and error control.
Is this a true back office position, and if so, why is it so blasted hard to get into, and why is the entry level salary approaching 100k? From the hype, it seemed that these back office jobs were easy to get, and that the GPA requirement wouldn't be 3.6 + and pay would be worse?
I am simply trying to gauge my potential for advancement to Front office or electronic trading (HFT, Algo, Low Latency..) after taking this job, because it seems to require massive technical knowledge of trading tech and financial products, to a degree which seems atypical for back office positions, which supposedly are supposed to be a dead end and easily attainable by muppets. Is this a typical back office business analyst position?
What's the title of the position?
The reason why the salary approaches 100k is because programming skills in general are in high demand. Especially for finance firms because anyone with half decent programming skills prefer to join elite tech firms like Google, join/create a startup, or get into algo trading. While the initial salary that you get is high, the salary progression probably won't be that great in the role.
The title is Business Analyst. Is this role considered back office, and if it is, do you think the reputation would be different than other BO roles? I ask because it seems from my research that BO can harm chances of getting FO type roles
I think there is quite a big problem on these forums relating to BO roles.Most of the time they are considered in comparison to FO roles and in this sense they are easy to get into however, in the grand scheme of things these BO roles such as your business analyst role or operations roles are extremely competitive, highly sought after and pay incredibly well. Also if you do start with this job and come in with the attitude that the BO are muppets i think you'll be in for a shock, they maybe did't have the multiple finance internships or the super competitive drive but they will all be very intelligent in their own right.
You might want to clear out some of the details of the job as it would be easy for the interviewers to figure out who you are.
would be a shame if someone sent a screenshot of your post to JPM
on it no worries
You are basically an in house IT consultant. You could leave there for a consultancy firm, so in a sense you are a front office consultant working on back office IT projects. These are well paying because you are doing much more than S&C for trades, you are overseeing development of infrastructure.
Gentlemen, thank you for helping me conceptualize the scope of this role. Bananas have been doled out accordingly.
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