BTW if you're ever 'down south' let me know (I live commuting distance from London); I'm happy to dispense more detailed advice for the price of a cup of coffee. GAT
I don't disagree, but smaller quant shops that don't college-recruit miss a lot of talent from off-the-run schools, e.g. US Midwest schools.
Being at a very shishy place, I often wonder about that - I think we only recruit from maybe 10 schools. My sense is that kids from the top tier places are now able to pick finance or non-finance with a similar long term expectation (e.g. someone can go to Goldman or go to Google and his long term perspectives, adjusted for quality of life, are roughly the same). Maybe the answer is to look at second tier schools and just be even more selective?
Even the bulge banks and marquee technology firms are looking at `second tier' schools. There are very talented kids at schools such as Michigan State, Purdue, Lehigh, and they're less picked over. I attended a job fair at MIT last year and there were ~400 employers with booths. Crazy high demand for talent.
Thank you for the suggestion, I'll get in touch with him. Thats a very kind offer and I welcome the opportunity. I live in greater London so am also a commutable distance from central London. I'll private message you so we can make arrangements.
I have to agree with this and truetype and would go even further to say that if you're at an entrepreneurial school you see it as similar long term expectations on dollars alone even before controlling for quality of life, which itself is highly valued. I don't even know why the banks bothered at my grad school when just a handful of my classmates ended up going into investment banking anyway. Their ROI had to be horrible given the effort they put into it. If grads aren't going to work 80 hour weeks for GS then they certainly aren't going to work 80 hour weeks for the next tiers down. And with grade non-disclosure they had no idea if that handful were the bottom of the bucket. We liked to think pretty highly of ourselves, but I've gotta believe the top 10-50 grads at MBA programs ranked in the 10-50 range are just as good if not better. Plus you can get someone hungry who doesn't feel entitled to be a partner in 5 years.
Excellent Intel; perhaps you are with the CIA? Almost anyone with close to a chance of being hired by Renaissance should apply. Bonus: Thier mostly employee owned hedgefund (Medallion) is by many standards, the best of the best. Literally. Best total longterm returns and best risk adjusted returns.
interview question let me see your account statements, crickets chirping, interrupted by the call to send in the next guy.
I guess that's why you are not working for a fund Retail trading has zero correlation with what this kid would be doing at a fund - different capacity, product set and different thought process. For a PM role, however, that's kinda the first question - do you have a track record? After that, there are still many hoops to jump through.
you asking me if i have a track record? i am not a retail trader, even though i slum with you guys. i could build a house with the resumes i receive every single day. i am looking for a trade execution specialist though but they don't even teach these kids how to place a trade. not to mention the trouble you have getting them off facebook and working around their busy personal schedules to get just a few minutes a day work out of them. i would hire a ex prop trader anyday that has passion than a phd who feels they are entitled.