What are the downsides of joining something like two sigma or citadel (swe not quant trader/researcher) if their tc is way higher? WLB seems similar if not better now that fang wlb is going downhill (excluding Amazon since it was never good). Is it just that interviews are slightly harder?
Citadel doesn't have comparable wlb in MOST of the teams that I've heard of. Two Sigma has good wlb but compensation is only on par with big tech. If you're looking for both wlb and great comp (in prop trading, not hedge funds), do look at HRT and DRW (I would say Jane Street as well, but well, their hiring process is a bit weird). Also, most Hedge funds do not have good wlb/work culture.
No level progression.
Level progression at a hedge fund probably looks like swe->quant dev->quant research->trader->pm lol
Well, that's role transfer instead of level progression. If your ultimate goal is portfolio manager, I think you're wasting your time working as a SWE.
Job security is way less. Usually benefits are worse
Not really true for either.
Jane street probably one of the only exceptions lol. I knew a lot of the options market making shops, even some of the futures HFT shops.
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Not sure about that… i think it depends on the strategy the fund uses. I know citadel almost went bankrupt during the 2008 crisis. They may be too big to fail now since they’ve diversified With CitiSec