Quant Researcher career questions

Financial Service Company
roughedout

Financial Service Company

roughedout
Sep 22, 2021 68 Comments

I just started as a QR at a mid-level trading shop,## and I'd love to hear some advice.

To maximize TC: is it better to focus on alpha research, portfolio optimization or something else? Should you specialize on one or work on many asset classes?

What edge do u think the superstar QRs who manage to double their bonuses every year or so have?

What was the process like to change firms given your noncompetes? Should it be a goal to switch to a more prestigious shop or just maximize bonus at a smaller shop?

TC 220k

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TOP 68 Comments
  • Amazon
    UNOF75

    Go to company page Amazon

    UNOF75
    What are the best quant firms you can get into as a new grad? Rentech, Jane Street, HRT, any others?
    Sep 22, 2021 19
    • Chicago Trading Company
      klokov_v4

      Chicago Trading Company

      klokov_v4
      More hardcore. Depending on the type of domain you’re interviewing for, they will dive very deep into that domain. Check some experiences on Glassdoor.
      Oct 4, 2021
    • Speedway / Eng
      Hank Hill

      Go to company page Speedway Eng

      PRE
      Amazon, JPMorgan Chase & Co., Capital One
      Hank Hill
      Leetcode + mental math + stealth IQ test + deep dive into language internals
      Oct 4, 2021
  • New / Eng
    theProf96

    New Eng

    theProf96
    How do i study for this? I have background as a full stack developer and am currently doing my masters in computer science.
    Any pointers?
    Sep 22, 2021 11
    • Baystate Health
      843ja1

      Baystate Health

      843ja1
      @pl0nk3r That's a way too general statement. I got Leetcode hards at Citadel Securities QR and HRT Algo Dev (their QR)
      Sep 23, 2021
    • For someone with a CS background, the better route is to do ML/AI. You are not gonna beat people with Math/Physics PhDs in typical quant interviews.
      Sep 26, 2021
  • Nomura
    Pquf10

    Go to company page Nomura

    Pquf10
    The highest TC will come from running your own quant portfolio at one of the multimanager shops like Millennium or Cubist. The top people at the single manager shops like two sigma are locked in. You want to start out doing alpha research and then learn portfolio optimization from there. You need unique alphas and a good system for trading those alphas (the opti). The best quants will have excellent data engineering skills, creativity and are able to implement their ideas quickly and efficiently. The idea should be to join a small pod and then try to move up to sub PM and get your own slice of the allocation or a payout structure connected to return of the pod
    Sep 22, 2021 5
    • Agree with Nomura. Eat what you kill at a pod place or you're out. PMs and QRs are just a number at a pod place and more are constantly lining up outside while others are let go.
      Sep 24, 2021
    • Nomura
      Pquf10

      Go to company page Nomura

      Pquf10
      Absolutely. If you can succeed there it’s the highest TC but of course comes at great risk. The issue with the big single manager quant funds like 2Sig and others is that the PMs, head of research, etc. are almost never going to quit. It’s not a meritocratic process to get into higher management at those places and so there’s no clear path to the 7 fig paydays as there is in the pod shops where you can be fired quickly if you do not perform
      Sep 24, 2021
  • Goldman Sachs
    herbkazzaz

    Go to company page Goldman Sachs

    PRE
    Goldman Sachs
    herbkazzaz
    Dude, this is exactly what I want to know as well, thanks for articulating it so well, have made switch from banks to b grade shop, seems difficult to move to A-level shops with non compete
    Sep 22, 2021 1
  • Chicago Trading Company
    nsEf37

    Chicago Trading Company

    nsEf37
    Watching this thread! Well composed question
    Sep 22, 2021 2