So I recently graduated college and accepted an offer with a well-regarded Chicago prop shop as an equity derivatives market maker, primarily operating over the counter. Pay is quite good- six figures base- but I'm wondering what kind of opportunities might be available to me if I decide I want to do something else 5 years down the line (either because I want to experience something new or just happen to not be great at it). I figure worst case scenario, I'd go back to school and get a Master's in Stats/Data Science or maybe an MBA but would it be possible to e.g. go work for a hedge fund/bank/fintech company/do something else interesting without more formal education?
For whatever it's worth, I have decent stats/programming skills (though probably not good enough to be a quant at the moment, I might try to move that direction within my company over time) and some fundamental equity research experience through a mutual fund internship. Thanks for your thoughts.
trading is the exit opp.. you have arrived
bump
You are right to consider exit opps. After a few years, most traders either blow out or burn out. Risk management or becoming a full blown quant will be the two easiest transitions out.
being a market maker is not very useful to many roles but if you are a smart kid - you should be able to find a job somewhere in the space
Yeah this has kind of been my overall impression looking at other people's exit ops. There doesn't seem to be a consistent path- other than going to another trading firm- but most people who move on seem to land well. Lots of UChicago MBAs, surprisingly.
I guess that's what happens when you take a bunch of smart people and train them in a niche skillset.
Prop shops in Chicago -> U Chicago MBA.. makes sense to me
Totam corrupti voluptatem accusamus accusantium laboriosam ipsa quo quod. Placeat consequatur beatae quia iste in reprehenderit. Dolorem ut impedit sunt.
Quisquam minus dolores ea et doloremque modi. Explicabo sit sint aspernatur voluptate harum veniam suscipit. Reprehenderit hic beatae est adipisci est.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...