Advice needed: BB Trading Vs HF QR Out Of Undergrad

[hcccc]

Recently got an offer to work at a quant HF out of undergrad, but I’m not sure if I should take the offer or try to go to BB trading instead (going to intern at BB S&T in the coming summer).

Some pros and cons:
HF QR

• Pros
  • Interned there, people was nice and extremely smart, culture is also what I like
  • More technical (in terms of maths and coding) and perhaps more interesting.
  • I’m also considering a part time master degree, which might be more feasible here as the hours are more flexible
• Cons
  • Base is lower than a typical BB trader
  • Probably greater pressure
  • I don’t see myself as an extremely smart person, so I’m not sure if I can excel in this role
• Additional info
  • Spinoff of BB after 2008 crisis
  • Rather secretive, can’t find much info on the Internet
  • MD said they are top notch (like within top 3 in the industry), but I can’t find any info online

BB trading

• Pros
  • Well known firms, so probably more exit opps
  • Base is higher
  • Opportunities to get to know more people and expand my network I guess
• Cons
  • Perhaps less interesting to me. I’m not particularly into monitoring the market

Overall, I’m interested in the HF QR role, and my ultimate goal is to work in a quant HF as a QR and perhaps a quant PM. But I’m not sure if I can excel in this role, and am also a bit concerned with the pay. And I think going to BB out of undergrad, then move to buy side is a more typical path, so I’m a bit unsure. I also know that QR prefers PHDs, so it's unlikely to get similar role elsewhere. So I was thinking if a slightly lower pay is reasonable?

Appreciate any suggestions/comments, thanks!

 

[QuantCoach]

It’s not as easy as you may think to move from BB to HF QR later on. Sounds like you’re talking about PDT, very surprised a ‘top 3 in industry’ HF is offering less pay to you than any BB. Did they discuss bonus structure with you?

 

[hcccc]

It’s not as easy as you may think to move from BB to HF QR later on. Sounds like you’re talking about PDT, very surprised a ‘top 3 in industry’ HF is offering less pay to you than any BB. Did they discuss bonus structure with you?

Hi, no, I’m not talking about PDT partners but thanks for the comment!!
No, we haven’t discuss the bonus structure yet. And I also didn’t do any negotiations. They also mentioned they usually don’t hire new grad, so I’m not sure if they’re not familiar with the pay of new grads at BB.
I think my biggest concern would be the exit opps, in case things don’t work out. Like I said, I don’t see myself as extremely smart or talented, so I’m not sure if I can excel in this role.

 

[weab]

It’s not as easy as you may think to move from BB to HF QR later on. Sounds like you’re talking about PDT, very surprised a ‘top 3 in industry’ HF is offering less pay to you than any BB. Did they discuss bonus structure with you?

exactly how can top 3 HF out of school pay less base than BB when BB base is like 120. Seems sus

 

[Lukee]

What does it even mean to be top 3, in terms of what?

 

[MichaelLewis]

I have a few friends that went from elite HFs to BBs after a short period at the HF (e.g. 6 months or so). It was a relatively easy transition versus the other way around.