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join Group One / DRW Trading Group or Goldman as i-banking analyst?
- Thread starter carl1111
- Start date
Quote from carl1111:
so you still consider gs to be the better offer? Also, the trading firm is a market-taking firm. Also, they trade based on volatility caused by news and earnings releases.
that's one of many forms of trading. it's closer to scalping, very short term. If you're good you might get a gig at SAC, but that's a long shot. Less than 1% of the big funds trade that way. It's very intense and it can burn you out quickly.
Find out the attrition rate at the market making firm... Ask yourself why does a small/medium size firm hire so often...some are hiring all the time, because people are leaving all the time.
At the end of the day it all comes down where you want to be in 10 years and how much risk you can tolerate.
Right out of school you're poor and making fast bucks should be priority numero uno.
For trading you need to be insensitive to risk.... hard if you're poor.
i don't know if this is self-implied, but shouldn't you go somewhere you think you would enjoy your life most?
Quote from tomcole:
From the tone and what he has said, I highly doubt carl has any job offers from any tier 1 firms, nor did he graduate a "pedigree" school in Chi-town in 3 years. Nor did he intern at GS.
He simply lacks the understanding / knowledge that someone who interned would have. Also, how smart is a kid who says he graduated in 3 years from a high-end school, which would have tremendously deep career counseling staff, and instead of seeking their thoughts on this, he starts asking on this website if GS is worthy of his time and efforts?
FWIW, last years recruits from quant schools at GS are making all-in substantially more than any numbers posted so far on this thread.
Very true tomcole.
Quote from rufus_4000:
I was on the recruiting committee for a tier-one investment bank for new MBA graduates. I was doing analytics, so I was looking for quantitatively inclined. But I was surprised to flip through the final result to find out that the new ibanking associate for 2002 class consists of 13 accepted offers (very very small considering that the '05 class is probably 60-70), 10 from HBS, 1 from Stanford, 1 from Sloan, and 1 from Columbia, that's it, no Wharton, no B-school ranked below them (Tuck, Hass, etc). Of course this is during the bottom of recession in 2002, but who can guarantee that we won't have any economic downturn a couple of years from now?
wharton is the most overrated school in the universe, especially when it comes to finance. check the finance elective list at Wharton and compare to Columbia and NYU, Wharton looks like a community college.
as unfair as it may seem, Wharton is a HR recruiter's wet dream.
Quote from Copernicus:
wharton is the most overrated school in the universe, especially when it comes to finance. check the finance elective list at Wharton and compare to Columbia and NYU, Wharton looks like a community college.
Honestly , by your extreme concern about salary i'd say take the job at Goldman.....
People that are die hard traders...are just that...die hards
they live breath and eat it (at least teh succssful ones i know)
THey are not only looking at $ and c...its a lifestyle choice
you need to ask yourself what is more important....working 100 hours a week and rising a corporate ladder all the time making a sweet salary with insurance and 401 k and all the riches of corporate life. Just being told..what to do and how to do it
or
Laying your balls on the table each and everyday in your t shirt and jeans playing a "video game" not knowing before the year starts if your gonna make a million bucks or spend all year working back a keyboard error. Constantly learning, adapting, reading, networking to find that little edge you need to exploit.
Certain people need the guarantee.....the 2 week vacation,
expense acct, suits ,etc
Others are born to trade, vacation, party, and enjoy life on their terms
OH....if trading fails....u can go back to B school..get an MBA and then get your corp 9-6 100k a year job
hard to start trading once u start a family and need the flow if u know what i mean
I honestly think in your case, by ur questions and tone...ur better suited for Goldman
just my 2c
d
People that are die hard traders...are just that...die hards
they live breath and eat it (at least teh succssful ones i know)
THey are not only looking at $ and c...its a lifestyle choice
you need to ask yourself what is more important....working 100 hours a week and rising a corporate ladder all the time making a sweet salary with insurance and 401 k and all the riches of corporate life. Just being told..what to do and how to do it
or
Laying your balls on the table each and everyday in your t shirt and jeans playing a "video game" not knowing before the year starts if your gonna make a million bucks or spend all year working back a keyboard error. Constantly learning, adapting, reading, networking to find that little edge you need to exploit.
Certain people need the guarantee.....the 2 week vacation,
expense acct, suits ,etc
Others are born to trade, vacation, party, and enjoy life on their terms
OH....if trading fails....u can go back to B school..get an MBA and then get your corp 9-6 100k a year job
hard to start trading once u start a family and need the flow if u know what i mean
I honestly think in your case, by ur questions and tone...ur better suited for Goldman
just my 2c
d