Dear AF-ers, I’ve been asked to help a friend and sometime colleague in a search for a research assistant. This would be an excellent opportunity for someone recently out of undergrad or just graduating. The position is New York based The main features of the job are: 1) Approximately 70% of the work is research directed on investment ideas and trading as well as public policy issues. (Data gathering, quantitative analysis, programming, writing). 2) About 30% of the time would be to help with administrative issues, so that the principal can concentrate on business and research. 3) After some time on the job, researching one’s own investment ideas is encouraged. It is possible that the principal may support good ideas with some of his own trading capital. 4) Quantitative skills are important; graduates of quantitative disciplines are preferred. There is no specific set of must-have skills, but it is necessary to demonstrate the ability to pick up needed quant skills quickly (stats, excel, programming, etc.). 5) Pay in the 40-50k range; bonus at one year mark can be discussed. This would be working for a former head of international fixed income at one of the more prestigious New York investment firms. He has founded an independent firm, focused on the creation of products and markets that address long-term fundamental risks. The principal would be an excellent mentor for someone recently graduated and entering the quantitative financial research world. He is a CFA charterholder, has experience in fixed income, equities, currencies, and derivatives, and has a very deep understanding of many markets. I am collecting resumes to screen for potential candidates. From past experience on this forum, these types of requests get lots of replies. Please understand that I’ll need to cut this down to between 4-6 possible resumes to pass by him. Please understand that if yours isn’t chosen (since there will likely be more not chosen than chosen), it’s nothing personal - there’s only one slot. I am not promising anyone a job, and I am not the key decisionmaker in the process, but if your resume looks suitable, I will pass it on for him to consider. Send to my yahoo email; username: brucebiz_wi ; Also, since that email gets a lot of spam, please put “ANALYST FORUM POST” in the subject line, so I can spot it easily.
I should add, it’s obviously not like getting a hedge fund job just out of college, but it’s a way to get paid mentoring and industry experience at a time when there are massive layoffs across the industry. You’ll also have the opportunity to exercise more creativity earlier on in the process as you but together investment/trading strategies.
Is there an age limit?
Not specifically, but he did indicate that he was thinking of someone just starting out in a career.
I predict someday there will be age discrimination lawsuits for this kind of thing. Most likely directed at banks. “Starting out in a career”… hmm as if a mid 30s person could even be considered if they were switching careers and were otherwise qualified… riiiiight
As someone who is overqualified for everything except the stuff he doesn’t have enough experience for, I feel your pain.
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“3) After some time on the job, researching one’s own investment ideas is encouraged. It is possible that the principal may support good ideas with some of his own trading capital.” As opposed to ignoring the good ideas produced by one’s research assistant?
cfa2grunt Wrote: ------------------------------------------------------- > “3) After some time on the job, researching one’s > own investment ideas is encouraged. It is possible > that the principal may support good ideas with > some of his own trading capital.” > > As opposed to ignoring the good ideas produced by > one’s research assistant? Main point is that the early research will be directed closely by the principal, but the RA will have more latitude after a while to develop research on areas that specifically interest him/her, and relatively unconstrained by things like “we only do fixed income here,” or “we already have another product sort of like that.”
- how many people work at this small firm? 2. will it lead to an analyst position? 3. will it lead more towards trading or ER?
It’s basically a one-man trading and research shop, with occasional consultants and projects brought in and presentations prepared for other firms which the research assistant might be able to use for networking. The type of training would be good for quantitative research, which could be applied to equities or to fixed income, although the principal has somewhat deeper knowledge of FI. In the quant world, the lines between research and trading can be blurred, since quantitative trading strategies still require substantial research before implementation. It would probably not lead to a prop trading type job, however, if that’s what you’re interested in.
No offense intended at all, but if this job is in Manhattan you may want to suggest that your friend consider raising the salary to at least 55-60K. 40-50K would be very hard to live off working in finance in Manhattan, considering relocation and clothes costs (assuming a new grad). Even interns at the banks are paid a prorated 60K salary. I’m sure you will get plenty of responses anyways and I know this is a “training job”, but I think your friend is going to get a much happier/productive analyst if he raises the salary a bit so that it’s not necessary to scrimp to get by. Just my opinion…
take the job and jump ship the first chance you get.
take the job and jump ship the first chance you get.
billwest Wrote: ------------------------------------------------------- > take the job and jump ship the first chance you > get. Lol you totally missed the point of this thread :P. Its not a job bchadwick is considering, instead he is trying to post this position for a friend of his who needs a RA. Hope that clears it up 
Working at a “one-man firm” is career suicide…
as opposed to unemployment until the industry recovers? I was reading in the paper about the hundreds of bear stearns recruits from undergrad schools who have had offers rescinded, and are out of the recruiting cycle. Look, the reason this is for very junior people is because it would be a challenge for people who are further along. For people at the beginning, and with an interest in quant research especially, its a chance to learn from someone who is very good, well respected in that world, likes to be a mentor has some useful contacts in the industry, and you might even get to run your own portfolio with someone to guide you from newbie pitfalls. Its not for everyone, but there may be people here that this would work for. As for salary; I suspect that there is some room for negotiation on this, though I don’t know how much.
what happened to this position? i emailed you, got a reponse from him and i replied and it went dead…
Let me quote myself here… (from post #1) “I am not promising anyone a job, and I am not the key decisionmaker in the process…” As far as I know, he’s still looking at people, but he’s been traveling got a lot of other things going on too. There’s also no guarantee that the people I vet will be the ones he goes with anyway, although I think it’s likely. I just told him I thought I might know where one might be able to find people who fit the description of what he’s looking for. Disclosure: he is reimbursing me for time I put in on this, but it’s by no means a big moneymaker, and I won’t get a big fee for “landing” anyone. Anyway, Good luck.