GS Strats vs. Multi-Strategy HF Summer
I'm currently a sophomore at a target school. I recently obtained summer internship offers from GS for Securities Strats and from a $8-15 billion HF for either risk management, equity relative value and quantitative trading. Both programs are rotational, i.e. for GS I would rotate across 2-3 desk and same goes for strategies at the HF. I'm interested in both quantitative finance and equity investing as possible careers. What would be the better choice for this summer, keeping in mind that I will still have the opportunity to have another internship next summer? Would it be significantly harder to get another offer from GS if I reject them this year?
I would argue that GS strats gives you better exit opps than risk management at a hedge fund over the long run. For the other positions, GS strats may not be as helpful. This is something you can call up HR and negotiate over and try to get a soft placement.
If the fund has $10 B AUM, it's probably a well-known name. It may be well-known by smart people in general who aren't just in finance. (DE Shaw, AQR, Citadel, Bridgewater, maybe Kepos would qualify).
Desk analytics (basically what GS Securities Strats does) gives you a lot of insight for running quantitative strategy. It also sets a floor on your value to a large hedge fund- a floor that is often higher than the opportunity cost of your seat.
You do need to leave before they roll the whole Strats team into IT. First they will move everyone off the trading floor, then they will move everyone into IT, then they will stick a bunch of confused business analysts between the developers and the desk. This probably won't happen in 2-3 years, but it might happen in 5-10. In the meantime it will be a very interesting role for the average 22-year-old coder who'd also be qualified to work at a high-end tech firm.
@"IlliniProgrammer"
The HF isn't a quant fund. It is mostly known as a relative value hedge fund. Your response was a little all over the place but are you saying that I should take the HF offer if I can guarantee placement in an area other than risk? Also assuming I take the HF offer, would it seriously hurt my chances at GS, either in securities or in another division, next summer?
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