Bulge-Bracket S&T vs Boutique Prop Shops
I just got a summer analyst position at a BB bank and I'm extremely happy with the position. But I was wondering how it compares with smaller prop shops in terms of comp and lifestyle. I know, for example, a first-year at Optiver can make 300k. And this is in Chicago, where the cost of living is half that of NY. When you compare it to a BB first-year analyst, I don't imagine they break 120k even in NY in their first year.
I've also been told that the lifestyle at these smaller firms is great, not just for work-life balance, but the facilities in the office.
Can anyone make an argument for a BB S&T position over one of these smaller firms, as in, would there be a reason for someone to choose a BB S&T position over a firm like Optiver, or do they only take BB S&T positions because that's the best that they can get?
Another reason might be because of their academic background - smaller prop shops are usually very quantitative, and a lot of people going into S&T might have more of a less quantitative background - for instance, I saw people going into the same position as I am this summer doing psychology, finance, etc. but people at Optiver take Math, Statistics as majors - I'm majoring in Math at UChicago and didn't see a lot of people with a similar background at BBs but I did in smaller prop shops.