I'm looking for my first full time job (getting my Masters soon) and I got offers from Optiver as a Trader, Bloomberg as a SWE, or DE Shaw as a Quant. Obviously TC and location are considerations, but imagine they were all equal. Just in terms of surviving 2023 (e.g. avoiding layoffs), company prestige, WLB, and vertical mobility, which offer should I choose? Current TC: 5 figs, 0 YoE
DE Shaw. The name is valuable; especially if this is your first job. A stint at DE Shaw opens doors at many places.
Optiver is like Amazon of the quant trading world. They make you work a lot and have a high turnover among all the companies you've listed. I'd go for DE Shaw quant. It's a bit more chill, and you get to control how much money you make, depending on your algorithms.
I think the Amazon of the Quant Trading world is Citadel, from what I hear. Out of the ones I listed it does have the biggest turnover but I wouldn't say it's that high (specially not compared to Citadel)
No trading firm will actually be "chill," but yes, Optiver does have a reputation for making you work, contrary to what promotional material might say. And yes, there is a reputation for cutting low performers. Blinds obsession with a magical place where WLB is good and TC is amazing doesn't exist, theres no free lunch. You will make a lot but you will work your ass off. Also at Optiver you also control how much you make? idk why you are making it seem like DE Shaw is special since you will be "making your own algorithms."
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Optiver trader, easily.
How come?
In terms of money, prestige, BB is not gonna come close to Optiver or DE Shaw. Optiver, the traders are top of the food chain. Even with the reduction in marbles, traders there can still make a ton of money, especially after the 4-5 YOE mark. DE Shaw quant is pretty good too but I am more biased towards trader at Optiver.