Turning down an offer from a bank (Citi/PJT/Laz/BAML) to pursue career as a quant?
I have an offer for an off-cycle/seasonal internship with one of the firms mentioned above that would begin in January. I am wondering whether I would be stupid to turn down that offer in favour of doing a masters (to begin in September) and trying to get a quant role instead. Masters degree would be at a top UK school and coming from a top UK target, if that helps.
Pros:
More interested in coding/math/ml and broader problem solving and so I believe it is more aligned to my core interests
Maybe the job market and hiring improves by next year
Day to day benefits in a quant role such as slightly better WLB
Cons:
Job market uncertainty next year and this internship could lead into a FT role at the firm
Career trajectory and upside? Is quant pay in the UK reflective of the US or am I capping my ceiling at a much lower bar than the IB route?
What is the probability of getting the highly prestigious quant role I seek e.g. QR at a hedge fund or that of a quantitative trader? I realise they are hiring throughout this period but will a MSc be enough?
Wanted to get some other opinions on my scenario and see what you would recommend if you were in my shoes.
can you defer the masters?
No but I could reapply at a later time and would likely be admitted... My concern is having entered the workforce and then not wanting to give up money or being restricted to, say if I had a family.
I would ride out the summer, cop the offer, but at the end, talk to HR about your interest in Quant. From there you can work at that place for a year or two and then move somewhere else. If you get experience early at a bank, you may not necessarily need the masters to be at a hedge fund or a smaller shop.
I’m guessing you have a front office role (IB/ST) but going from from that to quant has been easier than doing the opposite from what I understand.
Regardless, just do this summer and then see how you feel after.
It is a tricky decision as I feel whatever I choose now I will be pretty much aligned to that path
If this is a FO position, the fact that you have to ask this question worries me and suggests you'd be better off relying on hard skills (assuming you're at an elite level there).
Sorry for coming across as harsh.
Not offended whatsoever, but yes it is a front office traditional IBD coverage role. My dilemma is that I have an interest in fundamental investing as well as the quant core skill set and wanted to pursue a 'quantamental' investing type role in my career. Not sure which is the right place to start honestly
In this environment and likely in the next 1-2 years, the value of FO job experience is huge.
Assuming your family is a regular middle class family (whatever that is), and that you're not the smartest individual at a MIT/Princeton, I would take the job and the experience and fight the recruiting fight some other day.
Sound advice and what I was leaning towards (albeit reluctantly)
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