Quant: 2B HF vs Sales&Trading at Goldman Sachs
I graduated with a math phd one year ago, after graduation I worked as a derivative pricing quant at a 2B+ AUM hedge fund at Chicago.
Now My friend at GS refer me to a associate-level position at Sales&Trading department at Goldman Sachs (NYC), the position is regarding HFT. I got the interview directly with the quant head at GS.
What is the pros/cons between these two positions?
Thanks a lot for all advices!
Impressive, most impressive.
Is this part of GSAM or S&T?
GSAM, probably go for it, but you could do better with a DE Shaw, Kepos, Citadel, or 2Sig. Not to mention Jump or Getco- both local firms to you.
S&T, I really don't know. I don't know how well your current fund is doing, and I don't know exactly what kind of job this is. GS is one of the smarter banks, but wall street has never understood quants quite as well as Chicago does.
I second everything Mr. IlliniProgrammer says. I would also add one more company - Teza Technologies. In fact, I know someone who used to work at Goldman's high frequency trading desk, got tired of it and is now making a killing at Teza.
Teza is also a great firm. I think I would also throw Blander into the same list.
I would also argue that TMG probably ought to be on the list of firms ahead of GS S&T, if not GSAM. They've managed to lure a couple guys from DE Shaw and GSAM. However it's a little more debatable, especially when people remember them as an arcade shop from 5-10 years ago.
Thanks guys! Could you guys explain a little bit more about GSAM? I thought it was more like a mutual fund as compared to Citadel or SAC.
Some friends told me that in terms of long-term career development, no quant would jump from a HF to BB, is that true?
And do you guys think HFT is the best career choice for a quant?
Pretty sure GSAM is an "all of the above" sort of place but I don't know all of the details. I know they hire a lot of Finance PhDs and MFEs and that the work is similar. Admittedly I guess with firms like AQR going all AM, there is a large and growing gray area between HF and AM.
Usually doesn't happen but not always the case. I don't think you'd see someone jump from DE Shaw to GS S&T. At a smaller fund, for a recent hire, maybe. There are worse names to have on your resume than Goldman Sachs. (Then again I said that about Lehman when I joined them in 2007)
I have no idea. Maybe you can find out and tell us.Nam ad vel quidem consequatur distinctio aut harum. Doloremque pariatur eligendi molestias. Nisi quam veniam tenetur nobis et.
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