Applying to HF graduate/analyst programmes with experience ?

Hi all, I've been at a BB in S&T for a year and I've realised some time ago that I would rather be at a buy-side firm / prop shop. However I'm not very experienced to be aggressively headhunted. It seems that a lot of these firms run structured graduate programmes now (I wish I'd known this as a student) but I don't know how strange it is to apply for this after 1 year full-time experience, as they are targeted at students / new graduates. And even if I was accepted into one of these programmes, would it be silly to give up a permanent position for a training programme where there usually is no guarantee of a permanent offer ?

Comments (12)

Sep 20, 2021 - 9:13am

Most grad schemes I see (although it probably depends by firm) have a 2 YOE cutoff for application eligibility. So technically you still qualify.

Isn't your BB spot still technically the same trainee programme since technically you're not guaranteed an associate position? That's how almost.all grad schemes work. I reckon similar to most grad schemes, if you don't absolutely suck, they'll keep you on.

Sep 20, 2021 - 2:50pm

It's different, at least at my BB there isn't a formal analyst programme, it's just another rung in the hierarchy and there is not a significant RIF before making associate. Whereas some of these trading firms you hear how at the end of their 2 year training programmes only ~60% will get a permanent seat. Though not the case for all of them  

  • Intern in PropTrad
Sep 20, 2021 - 9:53am

Prop will be very hard without a top top TEM degree from where you are right now.

Sep 20, 2021 - 2:55pm

I know many of these trading firms basically only want to hire maths geniuses, but there are a lot of exceptions out there, even know someone in the year above me at a top trading firm with a Philosophy degree…. I was also considering whether I should do a Quantitative Finance masters if I really want to go down that route.

  • Intern in PropTrad
Sep 20, 2021 - 5:13pm

"top trading firm" I mean what shop was this? Was it a quant trading firm? I'd be very surprised if this was somewhere like Citadel sec or 5 rings but Jane Street have a few non-standard grads there. You do see a few exceptions but they generally ace online assessments and have a proven track record of maths ability through competitions. A quant finance degree isn't really gonna suffice on its own, you either have the raw mental maths skills or don't. No degree is going to help you if you can't clear the basic assessments and brainteasers; before jumping onto the masters I'd consider if you have the prerequisite skills/interest in maths and probability to thrive there. Have a go at some zetamacs and the optiver mental maths test and see how you get on. Good luck.

Sep 21, 2021 - 8:59pm

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