BB Quant Wealth Management or MM S&T for an Internship

[MikeTheQuant]

Hey everyone, I am what you'd call a very fortunate situation. I have to decide between 2 internships. I won't be too descriptive of myself for the sake of my privacy.

Some background on me: I am a junior Mathematics student looking to pursue anything in Quant Finance (I haven't decided where but eventually it would be nice to work for a HF in CT, where I can live more rurally while still working in finance. I'm a native New Yorker but never been much of a city person). Obviously, I want to take it one step at a time and see how my internship goes before I make career decisions.

I also wish to pursue a MFE eventually.

I have to choose between an internship (rotational) at a MM bank in S&T and a quant internship at a BB bank in their WM arm.

Anyone with experience in the field willing to provide some input as to which one they would take? While the WM internship provides experience in quantitative analytics, the S&T internship would give me experience on the trading floor in case I want to be a Quant Trader.

 

[MikeTheQuant]

Just an update on this forum: I ended up taking the quant gig at the BB. The math/CS skills I'd develop and the brand name were too good to pass up. Thanks for your input everyone

 

[MikeLawrence]

Just an update on this forum: I ended up taking the quant gig at the BB. The math/CS skills I'd develop and the brand name were too good to pass up. Thanks for your input everyone

Sorry, I didn't see this the first time around. I would have asked for more information before offering advice though. Like what type of rotations you'd be in for the S&T role.

If trading is your goal then I'd probably have recommended to go into the vanilla finance trading role and then use MFE to try and open doors into more quantitative trading.

If quant more generally is the preferred outcome, then I'd go with the quant gig hands down and try to move closer to the money if you so desire. It's hard to move closer to money, but if you value quant work above money-ness then this is the better path.

It's retroactive advice, but still my best two cents.

 

[MikeTheQuant]

Sorry, I didn't see this the first time around. I would have asked for more information before offering advice though. Like what type of rotations you'd be in for the S&T role.

If trading is your goal then I'd probably have recommended to go into the vanilla finance trading role and then use MFE to try and open doors into more quantitative trading.

If quant more generally is the preferred outcome, then I'd go with the quant gig hands down and try to move closer to the money if you so desire. It's hard to move closer to money, but if you value quant work above money-ness then this is the better path.

It's retroactive advice, but still my best two cents.

Possibly. I think they were both equally good choices. It’s all good you replied late; if anyone gets in a similar situation in the future they can take what you say into consideration too. I’m definitely interested in quant trading but tbh I’d take any good paying job at a Hedge Fund, quant or not, as long as I’m not doing back office risk stuff. This internship will help sharpen my math/Python/finance knowledge and a lot of it has to do with quant portfolio analytics, generating trade ideas through a quantitative lens, doing portfolio rebalancing and strategic asset allocation for UHNW clients. If I sell it correctly on my resume, it may even help me out more than the MM trading gig where it’s more hands-off. Maybe I will enjoy it though and take a return offer if I’m given one. Thanks for your input, my fellow Mike!