How to feel about my S&T offer
Hi guys, I’m an incoming FICC S&T intern at a top BB (GS/MS/JPM). I tried recruiting for everything (Tech IB, HF, Quant) because I’m at a target school (HYPSM). I really valued the exit oops of IB and the early risk taking/comp at a HF, but I didn’t land any of those. Is S&T still a good path to HF and how different is comp compared to other careers out of targets? Does the field still attract top undergrads? Is there a realistic shot at HF/Quant for FT?
Not sure about quant but HFs sure. It’s a tough market so just be happy with the offer and keep pushing.
Yes of course, you are at a top BB AND a target school.
Do you have any idea about the nature of work in S&T? Is it engaging? What skills will I have say two years into the job?
Also how much S&T -> IB mobility have you seen at your bank?
yeh lot of overlap between FICC desks (say rates, fx vol etc) and HF (macro and quant not L/s) in terms of the work and skill set
Do you have any advice for selecting a desk
Im gonna be taking all your favorite desks at MS. What hedge fund do you want to go to? And quant hasnt started
What the hell are we discussing. Yes it’s good for HFs now be happy with the offer and move on.
im almost convinced this is a bait post- job market is dog water, youre doing ficc at a top BB, you couldnt be in a better position
swear it’s not bait, esp when u see all ur peers head to top EBs, HFs, MF PE
if genuinely think that doing ficc at the top three prestigious firms in the US is not an accomplishment in this job market and a great start for your career goals, but an impediment to moving onto HF, then your perspective on a career in trading seems to be steered mainly by misconceptions about the industry. otherwise, 7/10 subtle bait
Most desks are fine for moving to HF.
Rates is macro, quanty-ish (as far as S&T goes), high P&L, and you get bond market holidays (don't underestimate that perk). Also, could be a fun summer interning on a swaps desk if spreads moving anything like Q1 & Q2.... Credit and mortgages good as well, depending on shop. Commods can be good, but more niche skillset/market.
S&T still offers good starting point for career, but it is an unstructured path so better to maximize chance of success by getting on a good desk with good mentors (hence above advice). The job isn't rocket science; even options market making on the sell side is fairly rinse & repeat...
Starting salaries for quant/prop trading firms obviously higher, but so is the bar to get hired... If you fall into that camp, would absolutely go for those firms. Happy to answer more q's in PMs.
would love to PM
feel free to message. or you can post q's here.
He wont be touching rates while I'm there
Sometimes I don't get it here. What's your alternative? You didn't land any of the other offers. Why are you complaining?
could still go through tech and quant recruitment. maybe consulting too.
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