Trading at GS/MS/JPM or Sales & Trading at Jane Street/Citadel/Two Sigma
Trading SA at top BB or institutional sales & trading intern at top quant firm for landing a credit trading job post-grad.
Catch is that the chance of a credit desk for intern placement/return offer is very limited at the BB - on the other hand the quant firm offer is more sales focused but all their interns spend half the summer doing a quant trading/coding bootcamp so might not be pigeonholed into sales.
JS/Citadel by far
Would you not take Two Sigma over the banks?
Yeah, I would pick it over the banks. I'd pick anything in the same tier as Citadel and JS over them, but that's only around 5-10 companies depending on how you view it.
ah WSO - where 'prospect in VC' gives advice on prop trading to 'Intern in PE' - never change
Depends on your desk and interests. Obviously somebody wanting to do macro vol wouldn’t take an equity options prop shop.
I am quite sure you mean institutional sales in JS, citadel securities/2sig securities. THere is no sales and trading intern at hedge fund..
anyway these S&T in prop shops are like the sales trading division of banks, JS already has been doing that for ETFs while Citsec recently dived to fixed income trading and expanding their institutional services to bond investors so assuming FI sales in that division. (2sig securities no idea what they're doing) I am not sure what you want to do in the future but believe me these Sales traders in Prop shops have close to 0 chance of lateraling to quant traders in the shop. While not even sure they can move to sales trading at the banks after that, while vice versa I have seen a lot of cases..which is quite obvious because the shops usually want the experienced Sales/sales traders from bank if they want to initiate the institutional business.
If you do the trading SA in BB, assume probability of being macro trader is roughly 50%..just assuming normal distribution. After you make FT trader and grind for quite a few years you have good opportunity to exit to these prop shops/HFs macro trading seats. and this is just my personal view but at that time these shops would also attempt to expand their business to credit..very few successful shops are already initiating this business:) you would have great opportunity then. WOrst case scenario you don't get return offer you can still apply for FT trader role. It's important to have trading SA if you want to apply to FT trading seat either in prop shops or top banks. Next year job market can't be worse than this year I believe/hope..
So I would choose BB trading SA for longer term optionality when comparing with Sales division in these top prop shops.
P.S: trust me..these trading/coding bootcamp they provide with quant trading interns means close to nothing in your resume nor skillsets if its aimed to leverage for opening doors for prop trading shops.
How many years in macro trading for exit opps?
see lots of traders on em/delta one exit to hf macro after 2-4 years. mostly younger crowd in mid-late 20s
Delectus deleniti nisi suscipit. Magni nihil iure at est adipisci quo. Sit reiciendis iure sequi at molestias.
Ducimus rerum omnis ut perspiciatis voluptas et. Quo provident excepturi tempora nesciunt error fuga soluta. Animi cum odio iure suscipit deserunt laboriosam. Expedita expedita ab omnis nostrum itaque. Maxime quisquam illo illo et quae aliquid odio fugiat. Hic ut debitis natus sit quidem numquam porro ut. Nesciunt perspiciatis earum soluta non tempore modi.
Inventore quidem vel fuga laboriosam vel. Voluptas dicta ut quam.
Rem iure iusto laborum ut omnis harum voluptatum. Illum dolores dolores ut vero error officiis numquam. Qui nihil eos est voluptatem.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...