Algo Quant/Equity Derivatives Quant at IB vs. Portfolio manager at AM
I am currently working as a junior developer in a back office in a big investment bank. While I enjoy programming, I also want to break into the front office and get closer to investment or quant related areas. Which one below is a better choice in terms of career path, salary, work life balance and exit opportunity?
3 potential offers/career paths:
1) Equity Algo Quant at IB: the job will be mostly research, some programming, belongs to FO quant team. I only have a MFE degree, so I am not sure if I can compete with other phd folks in the long run. Algo/electronic trading seems to be an interesting but competitive as well. I have no research experience but willing to learn.
2) Equity Derivatives Quant at IB: the job will be all programming, no research, like a quant developer that support the trading desk platforms. It belongs to FO quant team. Seems to be a close match to my current background, but it is a quant dev path.
3) Portfolio manager at big AM: the job will be all programming in the first few years, and more portfolio management in the future. Start as a developer, and then there is a chance to become a junior portfolio manager in a few years.
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More suggestions...
Hope that helps.
1) I know quants who moved from similar roles to PM. Though they generally moved to buy-side quant first and then to pm. Yes, some 'only' have a MFE.
2) You may have a hard time moving to buy-side since the skillset isn't as relevant. I've seen more moves to the desk before a move to buy-side.
3) Not familiar with this route. Not sure how the programming aspect will prep you to be a junior PM in the context of the role.
I would personally say to avoid areas that are overly development focused in favor of roles that will bolster your research skills. You'll always be able to do development, and I personally find that area of work the most monotonous and boring. Having research on your resume also looks much better for your career overall
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