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
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