Fallbacks?

Based on the most helpful WSO content, here are some fallback options and career paths you might consider given your background and goals:

1. Sales & Trading (S&T) Roles

• Your client management experience on the derivatives desk aligns well with sales trading roles. These positions often require strong communication skills, market knowledge, and the ability to manage client relationships effectively.
• You could target roles like Sales Trader or Execution Trader, where your understanding of options and market structure would be valuable.
• Entry-level roles might be challenging given your experience, but mid-level positions could be attainable, especially if you emphasize your MFE and derivatives expertise.

2. Risk Management

• Risk management roles in banks, hedge funds, or trading firms could be a good fit. These positions often involve analyzing and managing the risks associated with trading strategies, which ties into your options knowledge and coding skills.
• Roles like Market Risk Analyst or Quantitative Risk Analyst could be worth exploring.

3. Fintech or Data Science

• With your coding and data analysis skills, transitioning into a fintech company or a data science role could be a viable option. Many fintech firms focus on trading platforms, algorithmic trading, or analytics, which aligns with your background.
• Positions like Data Scientist, Quantitative Analyst, or Algorithmic Trading Developer could leverage your MFE and coding expertise.

4. Portfolio Management or Asset Management

• Consider roles in asset management firms that focus on derivatives or options strategies. Your experience and MFE could position you well for roles like Portfolio Analyst or Investment Analyst.
• These roles might not be as fast-paced as market making but still allow you to work with options and trading strategies.

5. Prop Trading Firms (Non-Market Making)

• While market making is highly competitive, there are proprietary trading firms that focus on other strategies, such as statistical arbitrage or volatility trading. These firms might value your options knowledge and coding skills.
• Look for roles like Junior Trader or Quantitative Trader in smaller or less competitive firms.

6. Consulting or Advisory Roles

• Your derivatives and client management experience could translate well into consulting roles, especially in financial services or trading technology.
• Consider firms that specialize in trading systems, risk management, or financial analytics.

7. Corporate Treasury or Hedging Roles

• Corporations with significant exposure to commodities, currencies, or interest rates often have treasury teams that manage hedging strategies. Your options expertise could be valuable in these roles.

8. Academia or Research

• If you're open to a more academic path, you could consider research roles in finance or even teaching positions at universities or financial institutions.

Key Considerations:

• Leverage Your MFE: Highlight your strong GPA and technical skills to stand out in applications.
• Network Strategically: Continue networking within the industry, as many roles are filled through connections.
• Target Smaller Firms: While top-tier firms are competitive, smaller firms might offer more opportunities to break in and gain experience.

By focusing on roles that align with your skills and interests (coding, data analysis, options), you can position yourself for a successful career even if market making doesn't work out immediately.

Sources: Deciding on quantitive majors/career path?, MFE right after graduation vs IB, Prop Trading (MM) v.s. BB Sales and Trading, Over 30, still no undergrad, finance career options?, 3.9 GPA from an Ivy League school in a useless major. What are my options?