Desk Quant vs Fixed Income Research Analyst - who makes more?
Hi All - recently facing a dilemma to choose one out of the two career trajectories. Currently, working as a Fixed Income (Front Office) Research Associate at Tier 2 Securities supporting the Non-Agency RMBS side of the business. However, coming from the Quant background, very fascinated towards jumping to a potential job offer from Tier 1 towards being a Desk Quant supporting the Credit Products Quant Trading Business.
Kindly guide me in terms of exit opportunities, and most importantly the monetary growth in each of these fields, thank you.
The research analyst role is more of a front office role where you’ll have client interaction. It could set you up for a PM role down the road.
The desk quant role is more of a middle office role where you’ll likely have neither any pnl ownership nor client interaction. Its probably a safer role but less upside. Depending on what you’re working on you could transition but it’d depend on what specifically you’re working on.
there’s probably more risk and upside to the first role.
How about Front Office Quant roles, will those Quant MDs make less money than a Fixed IncoemResearch MD?
it really depends on the quant role, if it’s really “front office” role that could be a good seat. this would be things like optimizing trade strategies for the desk or ideas for clients.
If you’re “supporting the trading desk” as mentioned in your op, it’s not as great. this would be things like automation or systems management. if you want to make bank you don’t want to be supporting front office, you want to be front office.
you should try to clarify how quant role contributes to pnl, and whether it’s client facing.
if you’re not client facing or revenue generating, you’re a cost, and will have a different lower earnings spectrum.
and also PhD vs Masters might matter in the first few years, but 3-5 years in and your work ethic/role/politics will matter more for your trajectory. wouldn’t sweat it much.
This comment hits home for me. Many quant roles are replaceable because you're just running a process. These roles are often sold as front office. Therefore, it's important to clarify what contributing to p&l means to your boss. I've seen the security guard be described as contributing to p&l.
you should remove identifying details (firm names at least) from your post
I did- thanks for correcting.
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