I currently work with Nomura Research with Fixed Income Research Desk which is a Front Office Role, the work hours are deadly for 10-12 hours everyday starting from 7:45 AM. Current Compensation: 125k and bonuses could lie b/w 40k to 60k (will receive first bonus in July 2021 although I started from Feb 2020, weird I know) I have received an offer from CS with comp - Sign On: 40k, and Base: 145k, and it's a FO Quant position with obviously a much bigger bank My Q's / Doubts: 1. Is it okay to leave a firm so soon like within 9 months of joining? Will it damage my reputation on the street? 2. Is it good to run after money early in the career? And what about the existing relationships? Should I care less about those? 3. I'm hugely passionate towards Mathematical Finance & Stochastic Calculus, as a rule of thumb must one pursue her/his passion or money after all because I suppose money much more in Research FO positions rather than Quant positions but Quant positions use much better part of the brain tbh 4. Here in Credit Suisse I'd get the opportunity to work with all PhDs, do you think this must be counted as a big +? 5. Last but not the least, as a general request for advice, must one run after money or passion? Especially in Banking & Finance roles could vary a lot and money hence could too, so would one recommend to grab a Research position over Quant? I think work life balance would be much more with my newer position. Thank you for your help, folks - stay safe and stay sage. #interview #finance #compensation #worklifebalance #investment #quant #banking
CS is way better than Nomura for many things feel no brain join unless you have strong preference for team
But don't you think it's like moving from a Front Office job to a Middle Office job but yes in a Bigger Bank tho
Well you see if you are not learning and would get much better learning opportunity at CS, then go for it. Money, you will eventually make, dont worry about it early on ! Good luck
Sounds like a no brainer. Don’t think anyone will raise a question when they see that switch
Thank you, but research folks make more money than Quants
Honestly my first time hearing that comparison. Would’ve thought FO quants made more than FO research?
It's a big street, no one is going to care as long as you bring value. Just make sure you don't make a habit of it.
Research or Sales and Trading are dead end job, the skills are mostly excel, not many exit opportunity and the hours is crazy
But I think $ in Research in terms of Bonus >>> that in FO Quants?
Switching sounds ideal Are there clauses in your contract surrounding your bonus and if you leave early? Go towards better work life balance and better pay if you think you’ll be equally passionate
No clauses but my Manager might out lash at me, he is mostly aggressive and becomes stressful easily
you will definitely burn the bridge with them leaving so soon but only with them not the whole street, you are too junior for the street to even notice
I would say make the switch. Money set aside, it sounds like there is more growth potential at CS which is a huge plus. It also seems like something you are more passionate about too so I think it will be a beneficial move for you. Good luck!
Here's a general answer to everything - it's fine to leave 9 months after joining espeically if you have something already set. Money is good to run after, but passion in your work is going to be much more important than money any day, especially in an industry as taxing as finance
I would definitely make the jump. No one would ever fault you for making a better decision for yourself that’s a clear no brainer. Life’s too short not to do that’s right for you
I left a job after 6 months because I realized the job description wasn’t accurate. With that being said if you are early in your career and you plan on staying in this new job for years to come and are sure, then go for it. If you are just going for money and not a career, then don’t, reputation should only be risked for a career choice/ step