Just our of curiosity, what do you do in your current role?
5k bonus kid. Lol
Pipe down there level 1… 5k is still 5k and I’m only 25 and not some trust fund crack baby.
¯_(ツ)_/¯
Model management - aka, trade ops.
what is model management / trade ops?
congrats but you seem to think that you’re leaving Earth for some civilization far more advanced…No need to “explain” your skills or new work to anyone…Just give them the notice and be polite and leave without shooting wild comments from your hips.
Good job on landing the quant role. So what is it that you’ll be doing again? Is it truly quant role like what I am thinking at firms like Citadel, Two Sigma or Renaissance where quant analysts code all day for the machines to buy and sell? This is true front office and quant analyst…imo…errrr in NYC finance opinion.
basically “middle office” overseeing their prop models and making sure allocations are correct among different feeder funds and between different prime brokers.
Not to be the debbie downer here but from my experience working at hedge funds, middle office gigs are the true dead ends…sure back office gets lot of bad rep especially from AF members but i have wrote a few times on AF that our controller gets 100% bonus and anyone above controller at small to large funds make +$400k a year. This is because back office’s trajectory is controller then to CFO and most of these folks have MS or MBA and/or CPA…on the other hand middle office is sandwiched between back and front and does neither particularly well, hence middle office - master of none.
To be clear there is really no middle office therefore “trade operations” as the OP have said above is still considered back office.
Believe you me I am. I’m one of the last of my firms operational staff that were brought up by people that knew what they were doing. All the Jr. staff here (even in managerial roles) are literally the blind being lead by the blind. I’ve grown very cynical because of this - imagine showing up to work every day, and being smarter and more involved in financial markets than your boss or anyone else in ops. Can’t believe I’ve lasted this long too. Our research team has very little turnover so it’s very hard to get in. I have good rapport with most of our analysts…which is how I got this new gig.
I would be writing algorithms and trading on them. It’s a small shop, but yes I can code. I kept saying to myself that I would just bide my time and continue to do a job that I’m good at and comes easy to me while I’m studying to pass the CFA exams… I failed L2 twice now, band 3 in 2016 and band 10 in 2017 and have now come to the point of “screw this” so I’m taking the first opportunity that has come my way. We’re talking a 5 man operation - and I have very effectively communicated the need for me to continue to study.
You a big bum CEO 10k
well in that case good luck and i’m glad you made it out. if you’re gonna be or on your way to be a quant analyst then you don’t need cfa. you just gotta be able to code efficiently and get ready to make real money in a few years. good luck mate
I would give everything up in a heartbeat and go back to being a delivery driver if it meant it could undo the fukup that I made that put me in band 10. Don’t care about the salary, don’t care about sht, I just want my piece of paper, and band 10 has put me on the mother effing war path. Kind of like Anakin Skywalker in revenge of the Sith when the door opens and the young british boy who says “Master skywalker there are too many of them, what are we going to do?”… except that british kid is the exam and the lightsaber is my pencil???
ah mate you ok there? going on a strange rampage there…forget the cfa and just focus on your job and maybe get MS in financial engineering or computer science…
Haha, that was all to be taken as a grain of salt. Thanks for your recommendation, but I don’t want a financial engineering degree. I don’t “need” a CFA charter, I just want one. I’m not going to quit, not at this point. I screwed up ethics & port. mgmt (that’s it). The above visual was just to depict how committed I am to not repeating my mistakes.
you a has been CEO 10k.
I’m with you lol
it stands for 10K A DAY…
pfff $3.65mm a year? you’re a quant analyst at a quant hedge fund (i am assuming)…i know couple of you types at two sigma and they make BANK…they’re my age and been working in the HF industry for +6 years but they take home double what I take home…All they do is code stuff and oversee da machines. Here I am doing financial modeling, pro forma, etc…lmao
I am convinced they take home min $1mm a year on a good year…
We all start somewhere. My first one was $1500. No reason to mock the kid. Just plain rude.
At least OP has passed Level I man. LOL
Edit: Looked at this guys prior posts - definition of a troll. lol.