Would a Quantitative Trading internship be good for my CV?

Hello, I am a last year Master's Degree student in quantitative finance. I do not have any experience whatsoever in the industry, so I'm having a hard time getting an internship at banks.

I may be getting an interview at a prop trading firm as quantitative trading intern. Would this be useful and improve my CV or should I focus on getting an internship at a bank? 

Comments (26)

Most Helpful
  • Intern in HF - EquityHedge
4mo 

1.Junk shop which asks u to invest ur capital, gaslight u that u should be paying money for getting rigorous education -> dont waste your time

2. One of reputable shops mentioned quite a few times in this forum -> much much better than BB S&T, BB Quant Associate Internship. Thats a no brainer

Adding: Just focus on getting the offer first. Dont really understand why you have to choose between different firms, when you didnt even get the offer yet, from neither of them. (Unless there is a  personal circumstance that blocks you from devoting ur time on recruiting? )

  • 2
4mo 
seapaul, what's your opinion? Comment below:

I applied to Optiver in this case. Now, of course I might not even pass the assessment tests, but since this would be my first experience and nobody ever taught me anything about the different financial jobs a quantitative finance student might get, I was wondering if this might be good for my resume. 

Apart from Optiver, I am of course applying to many other internships, so I can increase the odds of getting something, because I am not in a top university and neither do I have work experience.

  • 1
  • Intern in HF - EquityHedge
4mo 

Optiver is much more competitive and harder to get an offer from than a bank dude...

I get no one has explained what jobs you can get but no one explains that to anyone... you gotta do your own research. Optiver is one of the best places you can get into for quant trading; its literally 3-4x more money than a bank pays.

  • 1
  • Intern in HF - EquityHedge
4mo 

Focus on getting the offer. None of the Banks SNT, Quant Associate internship opportunities around the globe can't even match Optiver. It seems you don't have good enough knowledge about the industry yet, so what I assume is that every single interview opportunity is important for your own good(regardless of getting the offer). At least I hope you get to the technical interview round. That will give you much better idea about what's it like to work in Prop shops, and to have quant trading internship in ur CV. Not to mention it will help you prepare for other interviews at different firm. Cuz I think having an actual tech interview with those types of firm is the best way to prepare you for other firms. Trying ur best is the only way to make use of these opportunities. 

PS. For Optiver, after passing the 80to8 test try to buckle up ur Probability, Stats, Math puzzle knowledge. You also would need to pass the online math test after that. 

  • 1
  • Intern in HF - EquityHedge
4mo 

Name the shop; if its a reputable quant one then it is 10x better than some BB S&T job. You'll be earning more than VPs at a bank in your first year.

  • Intern in HF - EquityHedge
4mo 

Optiver is much better than a bank. Quants at banks don't earn a lot of money generally speaking, especially when compared to a trading firm like optiver. Their starting comp is over 300k usd...

4mo 
apple red, what's your opinion? Comment below:

It is shocking that you don't know about this. Prop trading shops are way way way better than banks. Their starting compensation is higher than bank VP (I'm not exaggerating seriously it could even be higher than a bank MD, I'm talking about 4x - 6x)  Especially Optiver, it is about the same tier as Jane Street.

But their interviews are EXTREMELY selective You will be competing against the best quant candidates who are preparing for prop trading for years and yet you don't even know about prop trading … … You chances are slim.

Also these companies send out their OAs to every applicant, so getting the first-round assessment doesn't mean you have passed resume scan because they actually do resume scans after your submit your OA score. 

Get prepared, this is an extremely valuable opportunity.

  • 1
4mo 
seapaul, what's your opinion? Comment below:

Wow, I definitely didn't knew anything about this… I thought this internship was easier to land than IB and that they gave their employees a salary of like 2000-2500€ per month lol I am shocked I guess I really don't know anything about the industry…

I really appreciate your help and all the info you gave me. Tomorrow I will try the 80/8 test, but the minimum score to pass is so high

4mo 
FlyingBoat, what's your opinion? Comment below:

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