Susquehanna Trading
From what I've heard, SIG is one of the best companies to work for in terms of WLB, comp, and obviously carries a very high level of prestige in the industry. You don't often hear it discussed in the same circles as Citadel, P72, or Jane Street — why is that? I get that you have two market markets and 2 HFs here but I feel like it’s just not as widely talked about.
If you start as a Trader or Equity Analyst at SIG, are you positioned well (if you wanted) to crack a C/P72/JS trading role or a BB ER role? How do future opportunities after SIG look? What exits are available?
CitSec directly poaches from SIG at the 9ish month mark before they start class. It's conditional on them having made class and not getting cut. You seem to not know what you're talking about here. Jane Street isn't a HF etiher, and I don't see JS and P72 discussed in the same circles.
You listed 2 hedge funds and two market makers/prop shops. You should use some ChatGPT to figure out what you're talking about before asking these questions - as you will confuse people who are looking to enter the industry. FYI SIG has a 3 year non-compete that rolls down 1 year to a minimum of 1 year after making class. Your exit opportunities if you have a 24 month NC are pretty damn slim at that point in time.
yep ive heard their education program is prob the best in the industry. altho itll be a long time before u trade compared to optiver which is like 3 months
anyone who thinks SIG isnt top tier is clearly clueless
OP fwiw i think MM -> HF or vice versa isnt a simple transition even if u do work at the best shops as the work is a bit different (with some exceptions if ur on a prop desk or looking at a place like GQS which does some high frequency stuff )
what do you mean by class and making class, how does this apply contextually if you are doing an internship at sig
Trading class at SIG is the graduation step between being a junior/assistant trader to having your own book. Before class, you shadow other traders and go through the whole educational program. Between 4 and 16 months after you start, depending on how quickly you develop, they'll start taking groups of new hires through class and they will progress into real traders. People who don't make class can sometimes be offered a non-trading role, but usually it just means you get let go. For incoming interns, it's not something to really concern yourself with. P(making class|former intern who got a return offer) is quite high, so just focus on that step. I think the frequency at which people who make class choose to decline the offer to work somewhere else is overstated.
Why do you care about the exits? SIG is a dream shop for quants. You can leave if you want to go a pod shop I guess.
SIG is one of the OGs. Jane Street is a SIG spinoff. It's top tier for sure. It does have its downsides (e.g. HQ is Bala Cynwyd, and non-compete is long, and you aren't trading for a while) but its performance and reputation isn't one of them. AFAIK they don't pay as much to new grads as the Citadel/JS/etc which is why they don't get spoken about as much by college students on the internet, but they'll still pay well.
Any further info on Bala Cynwyd? Heard mixed reviews, but then I look at the neighborhoods online and it looks ok’ish. Apparently they are having a hard time building out USIG desks atm as they can’t recruit proper talent to live there.
You don’t live in Bala especially as a junior trader. Philly is just a 20 mins drive away.
Worked with someone that came from SIG on a MM desk, the education you will learn on pricing as a science will help you throughout your entire career.
+1
Have you taken the offer yet?
Anyone know if it’s possible/easy or worth going from S&T to MM firms like SIG/JS/etc? Differ by asset class maybe?
Too difficult
bump
Very rare path to take. More feasible for Qdev/QR, but going from bank to MM as a trader is difficult.
Seen quite a few on LinkedIn having the background of rates, equity options moving from top BB to Cit Sec/JS. Would you say those are the very ‘rare’ ones your talking about?
God this whole thread is stupid. If you get an offer at Susquehanna you absolutely take it unless you also get offers from JS/Citadel
What about optiver?
Also great
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