I know that SAC Capital recruits equity research associates from top b-schools. What's the recruiting like for traders? Do they seek out mostly BB S&T people?
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Trading jobs at funds typically come via networking. Hey, i know this guy, he's good, needs a job, etc. The only instance where someone might seek out a specific trader would be someone who is known to execute a specific strategy very well. You're not talking plain ole equities at that point. Such a person might come from a prop desk at bank, but not from the "s&t" brokerage side. It is more likely that they would come from another fund. As is oft the case on here, the "T" in "S&T" gets thrown around quite liberally. Despite what some born in 1990 might think of my "e-credentials", I assure you I have more than a bit of experience with trading and hedge funds.
It is quite rare to go from the sell-side to the buy side without having someone vouch for you as the sell-side of trading has a bit of a stigma. The irony is, a lot of sales-traders make a shit ton more than many/most hedge fund traders and work about a third of the hours.
Yeah, not being in NYC is really hurting me with respect to networking.
SAC hires undergrad as summer intern also.
pretty sure they don't... they said it's not worth it anyway, cos the undergrad interns end up fetching coffee, cos they have no clue what to do... A group of students from my school visited the company in Oct last year and spoke with associates and HR personnel.
The irony is, a lot of sales-traders make a shit ton more than many/most hedge fund traders and work about a third of the hours.
a third of the hours? i see them all drinking with different clients all the time, seems like a long job
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