Accepted FT S&T offer at RBC/CIBC/CITI but recently received offers from Google/Apple/Tesla and Virtu/Belvedere/Optiver. Unsure if reneging is the right choice.
I accepted a FT S&T offer but recently received offers from a prop firm and a tech company. I'm still trying to figure out what I want to do for my career in 2-4 years; whether it is going to business school, running a trading desk, or starting a tech company. I'm at a crossroads and am unsure how reneging will affect me or if not, what my potential career goals will look like. If you were in a similar situation, what did you do? Thanks
If you're switching industries, they won't care.
Seeing as you have vastly orthogonal offers, choose the one that you feel will be the most enjoyable and lucrative.
What are the roles at the tech firm and the prop firm?
If the Virtu/Belvedere/Optiver route is as a Trader and not for SWE (I see you listed Google, Apple, Tesla here as well) and you want to do trading, you should take the prop shop offer. It's very easy to move from prop to S&T, but more difficult to move from S&T to prop speaking from experience in the industry with headhunters and friends.
I see more S&T guys wanting to hop to Hedge Funds (HF's are typically the clients of these guys so they form a good relationship and develop the fundamental derivatives/macro knowledge at a Bank) and prop shop is typically the other end goal people want to be in for trading.
Additionally, if it is Optiver or Virtu it is a no-brainer and shouldn't even be a question. Virtu is a leading HFT firm in the space, Optiver is a great options-focused market making/prop shop. If you like HFT stuff and have a more coding oriented background Virtu might be a better fit. If you like discretionary/macro and more manual trading of options/non-linear risk products Optiver might be a better fit. Belvedere is another OMM but not in the same league as Optiver, although I would still take Belvedere over any S&T.
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OP if you actually offers from Virtu and Optiver, even if it meant completely burning every possisble bridge at any bulge bracket bank (and you were completely blackballed from any full service IB), I would still say its a no brainer.
HFT firms pay a ton, have great benefits, lower hours, and you will be hounded by recruiters for jobs non stop.
Would take Optiver over BB, but imo BB > virtu & belvedere. SWE at Google & Apple > trading but wouldn't go with tesla.
Hi, would you mind sharing why Optiver>BB>Virtu? I was always thinking Optiver and Virtu are in the same tier..
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