Hello All, I'm a "recent" grad with all the usual credentials looking to get his foot in the door at a premier hedge fund. I live in Fairfield County, CT, and am familiar with many of the firms around here. I recently interviewed for a spot in the derivatives back office at JWM Partners (John Meriwether's newest fund since Long Term Cap Mgmt). I want the job and think it would be an invaluable opportunity, and I would like some more info from some of elitetrader's more informed and experienced members. Any info (with or without bias - just PLEASE ONLY CONSTRUCTIVE COMMENTS, no sarcasm) would be greatly appreciated. A few topics that are of concern: 1 - general facts about the firm CURRENTLY (not as LTCM) 2 - opinions about an opportunity to learn from a legend and his firm by getting my foot in the door 3 - any other firms a regular guy with good, but not "harvard quality" credentials, i might contact directly? (any contact details or something more significant would be divine)
I don't know, maybe I'm ignorant. But, that sounds like a great opportunity. Also, who cares if you don't have "Harvard quality" credentials?....If you want to do this bad enough, get aggressive! I'd CONTACT every good firm in your neck of the woods. What's the worst that can happen? They don't return your call? Then you'll be right back where you are now. Get out there and market yourself. Call SAC and the plethora of other funds in your area. Check out GLOCAP too (www.glocap.com). Good luck and go kick some ass.... MYD
Go for it! Any opportunity to work with Merriwether's band would be great for your resume. Plus if you do well as a trader, you'll have invaluable contacts among the big money crowd if you want to set up your own shop. This decision is a slam dunk! If you could get into Steve Cohen's group, that would be even better!
What a great opp!!!! Learn how to play Liars Poker and read Liars Poker and The Rise and Fall of Long Term Capital Management.
But it is back office, do not forget. it is tricky to get from back office to the desk in larger firms or banks. Nevertheless, it is a pretty good opportunity. What are they offering you - about 50k?
Agreed. I frankly just am without the connections or the assets necessary to put myself in the front office or on a desk. Back office is my only remaining option , and I suppose this opportunity is as good as any. They said they were doing additional interviews last week, so I'm going to call them tomorrow and inquire again, show my interest. I'm sick of waiting for others to call me back for a second interview. If they were THAT interested they would have contacted me ASAP to let me know so. Only problem is, I need a decision soon b/c I have another offer on the table at a prop firm to be trained by the biggest and most successful producer at the firm. The opportunity will pass after this week and I can't miss the boat if I want to try this.
The job description states between 40-50K....but those negotiations would not start until an offer was made post-2nd interview
Well, back-office generally sucks. However, you could turn this experience into a positive one and if you kiss the requisite ass, maybe you could become a trader's assistant. Of course, that depends on your drive, ambition and a good deal of luck! I'd still give it a shot. Prop trading and the stock market will always be there but an opportunity to work with a premier hedge fund is few and far between. Plus, if you embellish your resume after a year or two of working with Merriwether's crew, you'll be more marketable to other hedge funds. In a nutshell, you really have no downside by accepting the job offer.
well, in that case there is a bigger question: "what are you planing to do with your life?" it it was me, i would rather learn about interesting, rich products, at least from an intellectual perspective. that is of course, unless prop firm is trading something else (bonds and options are faar better then equity), which is possible.