GS QIS Strats vs BAML MBS Strats vs DB S&T

[Quant4Life]

I currently have 3 great offers for summer internships:

1) Goldman Sachs Strats Quant Analyst in Asset Management - Quantitative Investment Strategies
2) Bank of America Strats Quant Associate on MBS desk (Mortgage-Backed Securities)
3) Deutsche Bank Trading Analyst

I am inclined towards GS QIS Strats. However I'm finding it very tough to decide. I have a strong passion for the markets and am very competitive, so I fit very well into trading and I know I would succeed at it at DB. However, I want to do highly quantitative work, which I am very capable of doing and have passion for it. Now I also know that at some desks traders do significant quant work too. The GS offer is in Asset Management which is great because it creates great future opportunities with most top buy side firms. At the same time BoA offered me a very generous associate offer. MBS modeling can be interesting I heard, very new and different from typical models we learn in MFE's; but I don't know much about it and not sure if I'll like it.

So I'd like to know if anyone knows anything about the GS Strats team in QIS. What is it like working there, culture, environment, expectations etc? What are the career prospects in the long-term? It's hard to find much insightful info online so any help or advise will be very much appreciated.

 

[xiaoyin]

May I kindly ask about your background

 

[xiaoyin]

If i were you, i will go for GS, or which ever that can possibly be extended to a fulltime offer

 

[Gavin L]

I can only dream of having a three way 'dilemma' such as yours.. :P

 

[moretodo]

GS QIS Strats - good luck. Great offers! Hope I could get similar offers as well.

 

[Quant4Life]

Thanks everyone for voting, If some of you could provide some reason for your choice I would greatly appreciate it. It would also be great if someone with significant industry experience could provide some insights.

 

[CasanovaJ]

In most cases it was probably because of the view that "front office trading is more desirable than quant," but at the end of the day that's something that should be decided by you based on your personal interests, not by those of random people on an internet blog...

 

[mingguo]

All these are great offers. You have high chance to get a full time offer and start a wonderful career in all these three firms. Quant skills are similar and many of the skills are transferable across products and firms. The full time offer you get may not be in exactly the same team as you will intern in. It is more important to choose a firm with high reputation and good training for fresh graduates.

 

[EvelynC]

Seems GS QIS paves way for you to buy side.
Many GS QIS people (full time or intern) finally go to funds.

 

[moretodo]

Seems GS QIS paves way for you to buy side.
Many GS QIS people (full time or intern) finally go to funds.

Not really. They are primarily a Quant Research group that support PWM and hedge fund and Investment Management solution services for clients in IMD GSAM.

 

[EvelynC]

Not really. They are primarily a Quant Research group that support PWM and hedge fund and Investment Management solution services for clients in IMD GSAM.

I read your other posts. Please do not mislead others by presenting opinions without any back.
I do know many people from GS QIS who go to funds.

 

[moretodo]

I read your other posts. Please do not mislead others by presenting opinions without any back.
I do know many people from GS QIS who go to funds.

What makes you think the work description I provided can't lead to roles in the "funds" outside GS ?

I would like to present the caveat that what I implied by buy side is working as an Investment Analyst or a Trader at a "funds".

GS QIS most likely wont lead you to that. You will get quant research or risk mgmt roles which are great in my personal opinion but don't pay even nearly as much. If you want to do those sort of roles, it doesnt matter whether your on the buyside or the sellside - they pay nearly the same because they're support roles.

What other posts are you referring to ?

 

[IntoDarkness]

i agree, research roles don't pay that much but for a lot of ppl, it's kinda fun and stable

 

[moretodo]

I

i agree, research roles don't pay that much but for a lot of ppl, it's kinda fun and stable

Totally in agreement!

 

[darthbane]

Hey Quant4Life, I know this question was asked several months ago but I actually have a question for your question. 1st of all, congrats on your offers. Hope your internship is going well.

2nd, I am currently a summer analyst in IB at BAML. To be honest, I'm not 100% sure it's for me. I went to college originally intending to do something more quant focused. And to be honest, IB does not require the level of mathematics and thinking that I hoped it did. Even if you did not take the BAML offer, I was hoping you could tell me the exact division/job title you were offered. I would like to try networking around the firm to those quant spots but am unsure of where to search since every divsion has such a specific name. Any head start would be appreciated. Thanks.

 

[ManOfGold]

Unbelievable how many people are voting for the two options with the least upside...

 

[mhy]

Unbelievable how many people are voting for the two options with the least upside...

This is a quant forum after all. I would take a strat role over trading.

 

[ManOfGold]

This is a quant forum after all. I would take a strat role over trading.

Yeah, well, that doesn't change the fact that it has less upside than trading.

 

[kolmogorov_]

What makes you think the work description I provided can't lead to roles in the "funds" outside GS ?

I would like to present the caveat that what I implied by buy side is working as an Investment Analyst or a Trader at a "funds".

GS QIS most likely wont lead you to that. You will get quant research or risk mgmt roles which are great in my personal opinion but don't pay even nearly as much. If you want to do those sort of roles, it doesnt matter whether your on the buyside or the sellside - they pay nearly the same because they're support roles.

What other posts are you referring to ?

"quant research... they're support roles." LOL, did you have an idea of how a quant hedge fund is organized? Quant researcher is NOT a support role there and is often the stairway to becoming an owner of a book/strategy. Ironically, traders in these funds are support roles and are merely responsible for executing quants' strategies.

As for GS QIS, a significant part of the team is responsible for Alpha generation for equity factor investing, doing this could, of course, "lead you to that."

The only possible caveat is that these research roles are usually only for PhDs.

I hope OP was not mislead by your replies.