Choosing Between Quant Finance Offers
Hey all, I have offers/am in the final round at the following firms: DRW, IMC, SIG, Citadel. I’m not too familiar with the differences between firms, so I’m wondering what are some of the things I should consider when making my decision? These are all for a trading internship role in Summer 2021.
I’m also in the interview process at Jane Street as well, so I may consider that as well if I happen to receive an offer later.
Do you have an offer from DRW? Did they accelerate for you?
No - I was invited to final round interviews, but I've since declined.
why did you decline DRW? I would have taken an offer there over IMC
In a similar position as you at the moment. SIG is in philly and seems to give lower full time comp. Overall, I think Citadel would be the best place to intern at. You can always recruit with the other firms for full time. However, try to time it well so you can negotiate comp in the beginning.
Thanks for the advice. Do you mean negotiate salary for the internship? Or for full time? I wasn't aware that interns could negotiate salary.
for full time
The real concern about SIG isn't pay (which for the first year out of college is pretty good, especially considering Philly cost of living) but the noncompete and the lowered ability to lateral to other firms since you are basically the only shop in town. Citadel is going to have the highest comp straight out of college, and I think the securities (market maker) arm is trying to distance itself from the hedge fund culturally, so I am under the impression the churn is lower. IMC is a fine Chicago market maker with fast systems, though comparatively traders add less value there compared to software engineers. I see you already declined DRW.
If it were me, for an internship, I would probably choose Citadel, and then have the opportunity to apply to other firms senior year if need be.
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