Does anyone have any information on Cubist quant academy program? It is a new grad role for quants. It is PhD only and you join different teams during your training which lasts about 1.5 years, then you can choose a team to work with. I am asking general opinions about the program and also TC. Do they tend to law ball you since there is 1.5 years learning phase? what is the TC range?#finance #point72
What is your background. which area are you a PhD in? Are you good at programming? what do you want to do ? quant development or Machine learning. If you are good at programming and got a google offer blindly take it. Most quants make money only sporadically and there is a huge luck aspect. So on a risk adjusted basis in 10 years you are better of doing software development or ML for tech firms. Point72 is a pod shop. Not a great place for people who start out. I would recommend central trading teams like HRT/Jump/Citadel for you. Most people here learn the ropes either at the prop desk of banks ( 10 years ago) or at a central place like 2sigma , DE shaw before they come here as portfolio managers. In the PM teams your pay is usually lower than tech but you have all the downside risk of the Portfolio manager. In short if the PM makes millions he does not have to share it with you, but if he loses money his team along with you will be canned.
My phd is in theoretical math. I have done some internships in ML. I am good enough at LC to pass interviews but do not have real SWE background. I was asking whether I can use this to negotiate my google offer or not. I have an hrt onsite coming but before that, I am forced to accept google. Anyways even if I accept google now I will need to wait a year before joining because of something called export license. So I will need to find a quant job meanwhile and might never go back to google if it is good (after my license becomes available.). It seems bonus is very team based and depends a lot on luck, especially since this is a rotational program I think it won't be great at start.
I am not sure if it is not clear from my post. Google / tech is better path than quant if you want to be in control of your future and not let it play out due to luck. I would say even if the money is a bit less go for google. I don't understand the other things you mentioned but I would say, it is unlikely you will like the quant job compared to google.
It depends on what your goal is. Point72 promotes quite a lot of people in the Academy program to PMs. So, if that is your goal, may not be bad. We have some ex Google ML people here as well. So, I am not sure you can say Google has to be better (not a strong argument, I know). But, yes, money depends on teams PnL, if you believe in the PM/ you can find alpha, it is not bad.
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1 vs 5 Million - no lifestyle change
It’s a sweatshop
Citadel is a sweatshop too but they pay well. How about the pay?
Typical 150k + bonus. Upside is much lower comparing to Citadel