Dealing role at Hedge Fund

Dante26 said:
. . . I'd also be a junior dealer to someone else for 12 months until I get the boot, making sure their trades settle ok, its hardly inspiring, and obviously I'd rather be in a job where I personally take a view on the markets. . . .
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It's absolutely imperative that all traders know how the back-office functions partic when out-trades etc occur.
 
'kin ell mate, perhaps i live in a different galaxy, perhaps I'm just not used to preening hard to get potential employees that interview well but can't do the job... I do, however, live in a part of the country that's now experiencing its 3rd, perhaps 4th devestating recession in my working lifetime, this one so bad that a relative is working Sat at the local job centre so the govt. can keep the new signings quiet 'cos the normal 9-4 staff can't cope with the work load...
Here you are weighing up your carefully manicured decisions, I'd suggest you just take the (tight wad) circa 80K a year basic + bonus (if offered the job) and please stfu...:)
 
GammaJammer said:
I went and looked at the job ad on EfC and I genuinely think it's got some merit with repsect to your intended path. Both on a relative basis compared to, errr, nothing (which is what you have right now), and even on an absolute basis. Bear in mind that 'market facing' jobs for people at your level are like hens teeth right now. So not only would I, if I were in your position, keep a VERY open mind about it, I would actually go after it like my life depended on it. At the end of the day if you get offered the job you don't have to take it, but if you kinda slouch in there and wait for them to start polishing your shoes then you'll get nothing.

And a job can be what you make it you know. If they're saying it's a fixed term thing then ask what happens if you come to the end of it and are doing really well. Doesn't hurt to say that you're basically looking for an alpha generating role, but that the job they're offering would be a great insight into the market and that you want to be in a role that has a component of market interaction in it. At the end of the day, if they're saying it's not permament, it's not a crime for you to have a plan at the end of it. I think impress first of all them and then, if you're further along the road, you are in a good position to have an open dialogue with them.

If someone is able to have a mature, honest conversation with me when I'm in their position I think that's a much more marketable person than the one who strides in like they're doing a Kevin and Perry impression (i.e. generic sulky teenager). Which, although that probably isn't you, is kinda how your earlier posts came across, and is therefore at risk of being how your first impression goes at interview. In which case whether you want the job or not is gonna be totally moot. Believe me there's a ton of people out there who would love that job.

My $0.02. Lecture over, I promise.

GJ
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Wish I could rate this psot twice...
 
lol Black Swan, sounds like you work the mines. Where do you live? Sheffield? Im a Southerner so I dont have to go the toilet outside my house and I eat scones. Is the t'internet your using yours or the local library's? :)

Just had telephone interview and it was more full-on than I thought. Their hiring process for this job is pretty gruelling, 5-6 interviews, and they've had huge interest in the role, and apparantly their fund has grown circa 50% this last 12mnths. But they do admit that this is essentially til they can computerise the role. They are very sophisticated from the sounds of it and its basically just a bunch of programmers. I'll see whether I get through but Im open to it for sure.
 
pretty much what I thought in terms of interest level. I wasn't just ranting for the sake of reading my own words I promise.
 
lol yep I know, thanks.

They did say its pretty much taking trades given by the program, and going into the market there and then, no room for applying any interpretation or seeing if a better price is attainable. The volume is small 10m-20m per trade, but they are in lots of different markets.
 
that isn't necessarily small, depends what the market is.

And I still stand 100% by what I said. Your even talking in those terms about it suggests that you're not opening yourself up to what it WOULD give you, merely concentrating on what it wouldn't.

I just can't advise you strongly enough that even if you don't articulate this bias when interviewing, you're still not doing yourself any favours internalising it. If you have desire to be a broad based macro type PM then broad based dealing experience is really not a bad thing. The sheer amount of osmosis that you will experience by sitting there, if you have any sort of an enquiring mind makes it a no brainer unless you truly have a better option on the table.
 
Yep, i'll let the interview sink in for abit. I doubt they'll get back to me til next week as they've got loads of candidates to get through.
 
Dante26 said:
Where do you live? Sheffield? Im a Southerner so I dont have to go the toilet outside my house and I eat scones. Is the t'internet your using yours or the local library's? :).
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There's nowt wrong with Sheffield (apart from the weather) :LOL:
 
Dante26 said:
lol Black Swan, sounds like you work the mines. Where do you live? Sheffield? Im a Southerner so I dont have to go the toilet outside my house and I eat scones. Is the t'internet your using yours or the local library's? :)

Just had telephone interview and it was more full-on than I thought. Their hiring process for this job is pretty gruelling, 5-6 interviews, and they've had huge interest in the role, and apparantly their fund has grown circa 50% this last 12mnths. But they do admit that this is essentially til they can computerise the role. They are very sophisticated from the sounds of it and its basically just a bunch of programmers. I'll see whether I get through but Im open to it for sure.
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"But you're open to it for sure"...:LOL: Keep taking the tablets Son... :whistling
 
the sheer brass neck of it is staggering. too good to work for a hedge fund :) makes me laugh.

if you wait a few months maybe lloyd blankfein might call....
 
concur. i started writing something much more derogatory but managed to tone it down. average wage in the UK is something like 24k. think about that.
 
What's the old adage? "You never get a second chance to make a first impression".

Ok I'm gonna revise / augment my prediction a touch.

No job offer emerges, whole thread becomes moot, absolutely invaluable lesson learned, tries harder next time.
 
GammaJammer said:
What's the old adage? "You never get a second chance to make a first impression".

Ok I'm gonna revise / augment my prediction a touch.

No job offer emerges, whole thread becomes moot, absolutely invaluable lesson learned, tries harder next time.
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It depends. I found it valuable at times. I would take a job defenitely for money (80k) or something, and to learn the insights of quant trading.
On the other hand I have read the Nicholas Nassim Taleb book Black Swan where tries Nitche, concluding that his old adage is a complete and utter rubbish.

I am still so confused
 
so given that mr average smith makes 24k in a year, 80 grand for 12 months valuable experience is one fcking fantastic deal.....
 
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