Is this a good position? Unfortunately the role is in the IT division, does that mean it is a bad position to take. My friend who had 7 years of programming experience has joined the group with 115k base and 160 target for the first year. He referred my resume and the manager wanted to talk to me. I think that would be a waste of my finance degree if I started to do what I used to do. Would I pratically commit career suicide if I take that job? The pay doesn’t seem bad though.
stupid, you are absolutely correct. If your degree is in finance, then there is no use going back to programming. This position is either for Math geeks with PDH’s and stuff or IT wannabe people who are finding a gateway to enter finance (or IBanking) through an intermediary position like this one. I would love this role, since I come in the 2nd category of wannabe-IBanker
I dunno - you should explore it. The key is to avoid database stuff and get into real financial programming.
Joey, Actually the role they are considering me for is credit risk calcualtion and it is to support the credit group. Because the market is so bad, I don’t want to stay unemployed, I just wonder if this could be a step stone for something better or I may just like to stay there.
I think the key is “I don’t want to stay unemployed” in combination with the opportunity of joining “Goldman” - Yesterday I was at a Goldman seminar. During the break I spoke to two people there and, as things went along, we were for some reason soon talking about quants (and about one they had lost). - Is it difficult to find good quants?, I asked, innocently. - Oh yeah… *cough* … yes it is. (While rolling their eyeballs as if I had asked something idiotic).
I think the pay is actually pretty good and you would be at Goldman. While you are there you can find out how to transition in. A lot of times, they will promote from the inside and that could be your way into what you want to do. My point is… This way you make $$, get into a good firm and then slowly transition… this pay is solid so have to think about that…
the expression “Firm Wide” worries me, sounds like you’re a programming gopher.
pay is competitive for some one fresh out with masters, if you have 5+ years of experience this looks a bit below the market, besides, if you really dont like to program, do us (programmers) a favor and dont join. Nothing irritates me more then quants whos idea of programming is writing 3000 long C++ classes. As far as transitioning - better position would not be a ‘firm wide’ but rather something desk specific, where you will get to interact directly with traders If you are unemployed - i think you should join and continue looking for something in ‘finance’. Your early resignation might ofcourse piss off GS, but hey, it is what it is
JoeyDVivre Wrote: ------------------------------------------------------- > I dunno - you should explore it. The key is to > avoid database stuff and get into real financial > programming. what is a real financial programming? The only real financial programming is alogo, and good luck getting there without a Ph.D 
Think about Bearstern employee, there should be no loyalty either way. But would it be harder for me to get a front office job: structrurer/strategist if I work in this position for a couple of years?
stupid, it will depend on experience i guess, i dont really know, but you should be cautioned that your cost center is IT and not business. You have to talk to your friend and find out what EXACTLY do you do every day at the job?
believe me - You are going to repent if you take this up. I know before hand what you would be doing there, opening up MS Visual Studio and writing 50,00+ lines of C++/ VB code. would you like to do all of this, if you have a finance degree?
If I am unemployed, I would take any decent GS job now. If you don’t want this job, you can give it to me.
Well, I know most of people in the group got Phds and some have phd + MFE from CMU. The MD told me that the group is to calculate credit risk exposure for all the desks and more time is to spend on front desk models’ behaviour under extreme market conditions than coding. It seems the job will provide exposure to complex pricing GS models, however, will this experience helps to get front desk job? I know there is mobility between the group to credit group, maybe front desk IT role. But they want people commit to stay for 2 years before move to other part of the firm.
stupid Wrote: ------------------------------------------------------- > Well, I know most of people in the group got Phds > and some have phd + MFE from CMU. The MD told me > that the group is to calculate credit risk > exposure for all the desks and more time is to > spend on front desk models’ behaviour under > extreme market conditions than coding. It seems > the job will provide exposure to complex pricing > GS models, however, will this experience helps to > get front desk job? I know there is mobility > between the group to credit group, maybe front > desk IT role. But they want people commit to stay > for 2 years before move to other part of the firm. Sounds like you will learn a lot. I am sure this experience will be helpful in transitioning to structurer/strategist, but again MFE and Ph.D will be highly desired in those roles
comp_sci_kid Wrote: ------------------------------------------------------- > JoeyDVivre Wrote: > -------------------------------------------------- > ----- > > I dunno - you should explore it. The key is to > > avoid database stuff and get into real > financial > > programming. > > what is a real financial programming? The only > real financial programming is alogo, and good luck > getting there without a Ph.D I’v never gotten there. What’s alogo?
I am confused too. It is horse in greek.
Harry Potter is appearing in Equus. Does it have anything to do with that? I have to see this…
Harry Poter is actual the master quant
So I tried to buy tickets last night and found out that even though the Internet is full of pictures of Hairy’s bare a$$, the play doesn’t start until September. I don’t understand that and I’m too disorganized to buy theater tickets 6 months ahead of time. Did they have people audition for the part in the nude?