Will be interesting to see how HFT hiring holds up if market vol falls off, now that HFT strategy(ies) is(are) saturated with newcomers and P/L is tougher to come by.
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What is the job market like for developers/quants?
- Thread starter directionless
- Start date
Will be interesting to see how HFT hiring holds up if market vol falls off, now that HFT strategy(ies) is(are) saturated with newcomers and P/L is tougher to come by.
Quote from rufus_4000:
Since you posted in Automated Trading section, I assume we are only talking about Automated related jobs. If you are looking at NYC (and surrounding area), then yes the job market there is quite poor, mostly due to just the mass of candidates floating around. And even for markets outside of US, the situation is only somewhat better. One of my close friends is head of equities for an asian regional ibank, and she gets resumes from ppl offering to "demote" themselves (aka ppl who were MDs at a US ibank, offering to become ED at her firm), it is simply stunning.
However, since this recent HFT "bubble", there are some searches I have seen for ppl with a min of 3+ experience in HFT. And those searches at least offer to pay some staggering numbers. Take example, I know of one HFT junior-ish trader (3 years out of a top MFE program), signed with a new launched HFT operation for some fairly high numbers (we are not talking about 2-300k here). But these type of opportunities are the exception, not the rule.
Well, I tried pitching edges to low-tier firms but they don't have the infrastructure or assets under management that I need. High-end firms have very strict requirements, and while I've been chatting with them, I am not confident negotiations will go anywhere.
The recruiter on this thread was talking about top schools. I did come out of top schools. My dilemma is that a lot of these positions they create are outside-track jobs, where even if you do spend 3-5 years working for them, you're still in role-lock-in. It's not so simple to just trade for myself, because I would need a minimum of several million just to recreate platforms and gain access to various venues.
If I can negotiate a reasonable payout structure somewhere, I'd much rather take 45-50k + %age than 150k or more at an ibank. If the edge fails to pan out, I'm ok with being fired. I'm not okay with 3-5 years and a dead-end.
Quote from rosy2:
13-15% to do what exactly? do you come up with the strategy? have you ever some up with a profitable strategy yourself?
100k-150k for programming seems about right in the city I am in; bonus depends on the firm.
Sure, I come up with strategies. I don't know what you mean by "yourself", since almost every strategy I have ever worked with has been a mutation of something else.
This is what happens if I pitch an edge:
I talk to firm, firm is interested. I speak to firm, firm says "is it your own PnL, or is it group PnL?" If group PnL doesn't count for me because I was not MD-level on group, then I cannot claim my own adjustments to strategies myself as my own PnL. Ultimately, whatever role I get ends up back in discretionary bonus land, maybe with some title like, "quant developer."
If you look deep enough. The jobs are there. Here is a good stRt up position
for a stay at home quant trader. You can thank me later:
Thought you might be able to pass this along to a new grad or someone with these skills who is looking for an entry level_stay at home type quant/programing position:
_
_
Connors Research is an investment markets research company affiliated with The Connors Group. We are seeking a full-time researcher for the development and testing of new trading strategies. Our primary focus is swing trading and day trading in stock, forex, options and futures markets. If you are_ confident, motivated, and passionate about the financial markets, we are interested in you.
_
Your Must-have Skills
Passion for research into trading and problem-solving
At least one year programming experience in either C, C++, Java or C#
Advanced Microsoft Excel knowledge, especially charting, pivot tables, and formulas
Articulate English communication skills with the ability to clearly speak and write technical material, and answer detailed technical questions
Basic statistics knowledge
Recent trading experience in stocks, options, forex or futures.
Bonus Skills
Experience writing trading systems in a backtesting platform such as AmiBroker, TradeStation, MetaStock, WealthLab or similar
Advanced statistics knowledge
Basic SQL experience creating queries and tables.
In this role you will work closely with a team of researchers on cutting-edge problems, new products and advanced trading methods._
Compensation is commensurate with experience._ This is a national search, the position permits work-from-home, but we will give preference to candidates that can work at our Jersey City, New Jersey offices._ Principals only, please, no recruiters._ Connors Research is proud to be an equal-opportunity employer._ To apply, please submit your resume, a cover letter and your salary history to careers@cg3.com.
for a stay at home quant trader. You can thank me later:
Thought you might be able to pass this along to a new grad or someone with these skills who is looking for an entry level_stay at home type quant/programing position:
_
_
Connors Research is an investment markets research company affiliated with The Connors Group. We are seeking a full-time researcher for the development and testing of new trading strategies. Our primary focus is swing trading and day trading in stock, forex, options and futures markets. If you are_ confident, motivated, and passionate about the financial markets, we are interested in you.
_
Your Must-have Skills
Passion for research into trading and problem-solving
At least one year programming experience in either C, C++, Java or C#
Advanced Microsoft Excel knowledge, especially charting, pivot tables, and formulas
Articulate English communication skills with the ability to clearly speak and write technical material, and answer detailed technical questions
Basic statistics knowledge
Recent trading experience in stocks, options, forex or futures.
Bonus Skills
Experience writing trading systems in a backtesting platform such as AmiBroker, TradeStation, MetaStock, WealthLab or similar
Advanced statistics knowledge
Basic SQL experience creating queries and tables.
In this role you will work closely with a team of researchers on cutting-edge problems, new products and advanced trading methods._
Compensation is commensurate with experience._ This is a national search, the position permits work-from-home, but we will give preference to candidates that can work at our Jersey City, New Jersey offices._ Principals only, please, no recruiters._ Connors Research is proud to be an equal-opportunity employer._ To apply, please submit your resume, a cover letter and your salary history to careers@cg3.com.
Quote from Quantlee:
If you look deep enough. The jobs are there. Here is a good stRt up position
for a stay at home quant trader. You can thank me later:
Thought you might be able to pass this along to a new grad or someone with these skills who is looking for an entry level_stay at home type quant/programing position:
_
_
Connors Research is an investment markets research company affiliated with The Connors Group. We are seeking a full-time researcher for the development and testing of new trading strategies. Our primary focus is swing trading and day trading in stock, forex, options and futures markets. If you are_ confident, motivated, and passionate about the financial markets, we are interested in you.
_
Your Must-have Skills
Passion for research into trading and problem-solving
At least one year programming experience in either C, C++, Java or C#
Advanced Microsoft Excel knowledge, especially charting, pivot tables, and formulas
Articulate English communication skills with the ability to clearly speak and write technical material, and answer detailed technical questions
Basic statistics knowledge
Recent trading experience in stocks, options, forex or futures.
Bonus Skills
Experience writing trading systems in a backtesting platform such as AmiBroker, TradeStation, MetaStock, WealthLab or similar
Advanced statistics knowledge
Basic SQL experience creating queries and tables.
In this role you will work closely with a team of researchers on cutting-edge problems, new products and advanced trading methods._
Compensation is commensurate with experience._ This is a national search, the position permits work-from-home, but we will give preference to candidates that can work at our Jersey City, New Jersey offices._ Principals only, please, no recruiters._ Connors Research is proud to be an equal-opportunity employer._ To apply, please submit your resume, a cover letter and your salary history to careers@cg3.com.
If I'm experienced writing trading systems for retail platforms, why would I want to give research to these guys??
Quote from Quantlee:
Hmmmmm. Maybe because they pay you??
Man. No wonder these folks are out of work!
With a series-7 license and 30x BP, borrow 25k from Uncle Vladimir or Cousin Lou and put your retail strategy to work yourself. "Connor Research Group" will be less thankful than Cousin Lou, if you're any good at making money.
Quote from directionless:
With a series-7 license and 30x BP, borrow 25k from Uncle Vladimir or Cousin Lou and put your retail strategy to work yourself. "Connor Research Group" will be less thankful than Cousin Lou, if you're any good at making money.
Yeah. You don't even need a series 7 in most cases. Go for it dude! We don't need no stinken jobs. We trade for a livn nowadays
I pointed you to a good solid job for a stay at home trader quant. It's up to you to apply or not.
By the way. You need to learn to read too. Last I read the add. They are looking for you to program THEIR strategies. Not the other way around.
Quote from Quantlee:
Yeah. You don't even need a series 7 in most cases. Go for it dude! We don't need no stinken jobs. We trade for a livn nowadays
I pointed you to a good solid job for a stay at home trader quant. It's up to you to apply or not.
Ah, true. I should not fault you. Thanks for the info. If I had graduated more recently, I would have jumped at that opportunity, as it does sound better than a lot of what is listed out there.