Help me pick a job!
Which job would you take (right out of undergrad)?
1) $5 Bil hedge fund (long only for now) in Stamford CT ~30 people
portfolio management Associate
assistant trader for two years to transition into a research role (salary unknown for now, but "competitive"
Pros
- very nice people
- relatively reputable place
- good work/life balance
Cons
- Stamford CT
- the research role isn't very equity research like, it's more factor analysis. So exit opps aren't 100% transferable to most other hedge funds.
- this is more of a long term career
2) Trading Assistant, at a small prop trading shop in NYC~ 20 people
Pros
- Keep 50% of PnL
- $1 Million book after training program (12-18)months (seems high?)
- 60k base salary (at least through the training program
- training program focuses on catalysts and news trading, not TA. It's primarily equities trading
Cons
- very risky
- very stressful
- not sure if I would be good
Will PM firm names and job descriptions if you guys are interested.
this one is easy, id definitely go with option 1
I was thinking the same thing. What's wrong with Stamford, lol?
Definitely option 1. Be a little cautious with prop firms, especially the smaller ones...a lot of them tend to inflate their benefits just to lure people in.
Def option 1, prop shop is too risky...
Option 1.
As always there are caveats. One would be if you're already well off. If you have a bunch of money may as well be able to leverage the fact that you're already loaded to take higher risk jobs. Guessing that's not that case though so Option 1 for you.
Option 1, especially if you have no experience trading. Option 2 isn't a scam (they pay a salary), but you still run a huge risk of washing out if you have never traded before.
While it sounds like (1) is a new-ish fund, $1 billion AUM and 30 people is very respectable. It sounds like a better platform.
Option 1, live in NYC and do a reverse commute.
Hi rob.resume, any update on your process?
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