Software Developer (and eventually Quantitative Researcher) position at an IT consultancy turned high-frequency HF. Good idea?
Quantitative Researcher and Software Developer positions advertised on the university website. Applied, no tests, one interview, got a job offer.
Initially will be for 6 months (probationary period) at 34,500 GBP (+ an undefined bonus) as a Software Developer, then should be able to move to Quantitative Research with "a much higher salary".
The place is slightly dodgy, essentially a one man band, who has been recently hiring a lot of young people with little experience; a former IT consultancy turned high-frequency trading firm (somewhat FX focused).
I have finished university and have been working as a mechanical engineer for 1.5 years (did not get into banking out of uni). On the job I am mostly interested in maths and software (not so much mechanical stuff), however can't do C++ OOP, just some procedural C++.
Does this sound like a good opportunity with a view of becoming a quant / trader?
N.B. During the interview I was told that I would have a 4 month (not 6 month) "training" (not "probationary") period. The contract also excludes mention of "possibility of moving into Quantitative Research" discussed in the interview. Should I push for those to be explicitly stated?
N.B.2 I am also playing this opportunity against a non-quant position in commodities.
I guess it depends on what technology you're going to be working on at this role. I think for a first experience it could be reasonable, though. What kind of background does the guy running the place have? Is it already a successful business? These are the sorts of things that should clue you in on whether it's even a place you'd want to work.
If you decide it's worth a try, move on quickly if it isn't working out. I'd also negotiate to get the training period stuff all in writing if possible, and ask for some details on the bonus structure (when will it be paid, what range, etc). On some level if you want to take this job you're just going to have to trust your employer, but it won't hurt to engage in conversation and get a little more info first.
I would be building trading platforms and feed handlers. The guy comes from a computer science background and has (in a somewhat odd way) multiple postgraduate degrees in finance. They say they already have profit-making strategies, but some info about their AUM doesn't add up. Are you suggesting to "move quickly" to minimise CV damage? I am a bit conscious about asking them to amend the contract. I have emails that talk about the "training period", although TBH I doubt that counts. They have been somewhat unwilling to answer all of my questions in the past.
How good are you at learning things on your own? If you only have very limited C++ knowledge, building production-quality trading software is going to be a big challenge. If this company hires other guys with limited knowledge as well, you might have a lot of incompetent coworkers dragging you down. Not saying you can't learn or that you'll suck but this industry is super competitive and if you fuck up a-la Knight you are done for.
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