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Total Posts: 59
Joined: Feb 2018
Posted: 2019-10-04 07:25
I quit my "pure pricing quant" job and joined a buy side trading desk 3 years ago. At hindsight my previous job was superb: projects were relevant and challenging, strats and traders appreciated each other and the comp was excellent. The reason why I left the strat team was the fact that the new team was looking for someone who could develop systematic strategies in-house.

When I joined the new desk everything changed pretty much: Most of the time the work I do is ad-hoc and quite irrelevant, I don't feel like my technical skills are appreciated too much and my comp went down by more than 50% from the previous job. I literally could get a raise by applying for an IB internship (ridiculous.). I spend 95% of my time being a personal Excel assistant to one of the senior traders at the desk. What a waste of time. The only thing that I received is the mandate to run a smallish equities book as a side project.

What do you guys think? Should I bare the frustration or just leave?


Total Posts: 1233
Joined: Jun 2007
Posted: 2019-10-04 09:48
Not sure if I got this right, but actually you are not used for the role you have signed up for?

Ask your team lead what to do and express your frustration while giving them the feeling that you are willing to help with the transition (gradually scale down the stuff you are doing now, until it only takes up let's say 40% of your time).

If they don't try to meet you half way or accept this is a problem, leave!

If comepensationa and the work suck, why work there?

Ich kam hierher und sah dich und deine Leute lächeln, und sagte mir: Maggette, scheiss auf den small talk, lass lieber deine Fäuste sprechen...


Total Posts: 358
Joined: Mar 2018
Posted: 2019-10-04 09:55
I think you have made a mistake


Total Posts: 287
Joined: Oct 2004
Posted: 2019-10-04 12:16
One more person who thought the Buy Side would offer fantastic work environment and potential large payouts.
I'm not mocking you, it is a realization I've made (as someone who only worked in the buy side).
For those interested in HFs etc my take is: if you have a % share of the PnL on a contract, this is a good move.
If not, they will exploit you until you find something better to do elsewhere.

In your case, I'd go back to the bank side. I think there is a much better environment right now (yes they are firing etc, but it's even worse in HFs).
Unless you find a job in a pure quant HF (which I don't know much about except they seem nicer and happier)

Et meme si ce n'est pas vrai, il faut croire en l'histoire ancienne


Total Posts: 59
Joined: Feb 2018
Posted: 2019-10-07 10:08
Thanks guys! This was insightful :)
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