Received offer for a Trade Operations Analyst role at a small quant fund
I've lurked here for years and really need some advice. I'm a new graduate in a "growing" financial metro, did internships in trading firms and heavily specialise in quant. I have a MB short internship on my resume (IB though), and.. I've been unemployed for 6 months post grad. The job market in my city is hella tough, new grad roles are hard to come by (heavily immigrant-based job market - no politics please) and I've tried my luck everywhere.
I finally received an offer for a Trade Ops role in a new fund. A very new fund. The parent fund specialises in commodities, the current one sets itself up in equities.
I'm at a loss of what to do. Do you guys think I should take the role? The starting pay is at the lower end... I wanted to work in asset management/ quant firms really but I'm not sure given the market
Also I would love to know more about the strengths/challenges of this role. I don't mind the hours and I know pay is brutual but apart from that I'd like to know anything you are willing to share
Complains about bad job market and blames it on immigrants but when he finally lands an offer he doesn’t want it because the pay is lower than what he thinks he deserves as a new grad. U are exactly what’s wrong w the average American u chud.
There's a reason I tagged this under "global." I'm not American. There are several non-western nations that have immigrant-centered job markets, it has nothing to do with politics. I can't share the country name for privacy
I don't mind pay. Actually have you checked your reading comprehension levels? I think you're at a deficiency, since I literally just repeated points from my post.
If you have anything relevant to share you are welcome to comment. Let's not make this about politics and instead focus on the topic
LMAO bro if you actually think this is an IMMIGRANT favored market you must be smoking the right wing smoke. H1B and F1 visa sponsorship is down so much. Companies are not hiring internationals since like, 2023. The cost of an international is really fucking high, and it's amazing to me that people talk about how it's immigrant driven while just ignoring the fact that hiring internationals is really expensive, especially for non STEM positions that don't get the same visas.
The job market sucks. That's pretty much a given. But you didn't get a return offer at the firm you were working at, which is where most new grad conversion comes from. At all 3 shops/firms I've worked at, 80-90% of our new grad class came purely from intern converts.
You don't have a choice here. Trade support is also a good role. Hours aren't bad, your EV is probably the exact same as trading, and you can move to a lot more places as everyone needs trade support but no one wants to do trade support.
And as for the market for quant...These firms are making more money than ever. My previous prop shop is hiring like crazy to fill demand. It's not the market for quant. Quant is so meritocratic that they will FIND you a spot if you're good enough. You just weren't, and you gotta face that fact.
First, I'm not American. The reason I mentioned "immigrant-based" is because I wanted to hint at the region I'm in (can't specify it for privacy concerns) but I see that's unsuccessful. I'm an immigrant myself, my long term goal is to leave once I get the correct exit opp.
Apart from that.. I did get a return offer from my firm but I'd rather not work there. I know I'm crazy for turning down an IB like that but there were some things going on that gave me a strong hint they'll be exiting my country in the next few years. A smaller opportunity is worse than being laid off where I live at least.
You make some really good points. I guess I was just bummed that it wasn't my 'dream role' but everyone starts from somewhere..
Is it possible to convert from this role to more of FO or research? What do you think
The reason people said this was because the way you worded it sounds purely like a whiney statement blaming others for your inability to secure a role.
So let me get this straight. You turned down a role in a firm that would be a good role to be in, where you may be front office, because you thought there was a chance they might be leaving in a few years, but you're already talking about trying to convert the role? If you knew a bank would fire you in five years, you should still take the fucking job. It's so much easier to begin scouting for work after that. And your statement about wanting to exit to FO, you'll probably need to move firms to do that anyways.
I don't blame you for making this rather poor decision, you're young and all, but in the future when making these kinds of decisions consult people who actually know the industry and ask them what to do beforehand.
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