Need Advice: Second thoughts on S&T @ starting line
A mentor with connections in the industry (non- S&T background) does not want me to pursue S&T. Has urged me to recruit for quant trading (although I feel I've missed the boat: no math/data science major, not a technical coder at all, also not from a target school), IB, or somehow landing directly on the buy-side (HF is pipe dream but that's not plausible directly through undergrad). They just believe I am limiting myself by recruiting for S&T/think it's a dying field. I don't agree, but I also was born yesterday; they were not. They believe I have options, but I'm not really sure I do, between my major, timelines, and school.
For context, I'm a sophomore at a non/semi target. Finance major with enough credits to add a double major, and took multivariable calc in high school, GPA is not a limiting factor. I am not interested in IB and I have a high level of passion for the markets, so pursuing a career in S&T made sense (personality is social, somewhat competitive...). I would be recruiting, hoping for a trading role, although I know that's not in my control. Interned on the buy-side this summer for a small shop.
Does anyone have any insights they could provide? I was pretty adamant about S&T before this conversation, and now I'm afraid I'm making the wrong choice. It's also not too late for me to add another major if I wanted to, I just feel a little lost. Note: this entire post hinges on an assumption that any of these opportunities will work out, which obviously is speculative. I just need thoughts.
Side note: considered posting this on the IB forum but think I'll get more helpful advice here.
Highly liquid products are turning quantitative by their nature. Prop/quant is less burdened vs the bank/Volcker counterparts, but the pure quant (O)MMs honestly know nothing about less liquid products or non-exchange traded products. To break into quant you need the technical brainpower to do it (mathematics, IMO-calibre), while most people on this forum speak finance (capital structure) - asking here I assume you are one of the latter and are better suited to make a career out of a finance job, no matter starting in IB/S&T/etc
same thoughts except im a jr interned in s&t at a bb this summer- bump
What were your thoughts after SA?
just look at it from a headcount perspective. how many quant firms hire how many new grads(i know internships etc. but zoom out) - 20? 30? how many firms out there would be even considered "quant"? versus the hundred or so s&t analysts a bank hires. mathematically, its not the ideal move. but also once ur in a trading seat at a bank, u can go buyside theoretically
Always didnt understand why non S&T guys shit about things they dont know. Even the juniors with ~2 YOE wouldn't have good knowledge about this industry as a whole given every desks technicals, prospect are extremely different. Why would someone with non S&T background have any credibility in advising someone whether or not to pursue this industry lol
Dying because of decreasing HC for juniors? Might make sense but still has more HC than JSC, Citadel, 2Sig. Dying because its unprofitable? might have been true during 2010s low vol 0 interest era but look at the revenue for past few years of major IBs.
If ur really passionate about public markets and non quanty S&T is the most realistic place to start the career . Try to get some industry connection who is actually relevant.
What do you think of the prospects from FX Vol trading seat?
Thank you, I really appreciate this. Those in S&T or adjacent roles have echoed things you’ve said here, but hearing it from a stranger definitely keeps my head on straight.
I am in S&T and your mentor is talking gibberish. 'S&T is dying' is always a boomer take from someone who doesn't understand it
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