So what are they looking for at those $10 million quant portfolio manager jobs?
Get this High frequency trading programmers are now revolting for their lack of pay. So let’s say you are making over one and fifty thousand dollars a year at some firm. You build models, strategies, and so on where a trading desk a making over one hundred thousand dollars a day off your work. Sounds fair?
According to a Forbes article, it seems some programmers are quitting and setting up their own arrangements to earn a profit as high as fifty percent. Many of these guys are making millions as their learn to manipulate their own models. Some are also resenting and moving to other companies. One such company with such arrangements is HRG. This company seems to be some sort recruiters for smart developers who are into algo based trading. There is also a section for ultra high frequency. Don’t ask me what the difference is. When I see job posting of traders earning anywhere from multi hundred thousand gigs literally into the millions. A few of these job postings were for portfolio managers who have arrangements of earning anywhere up to five million or even ten million. Just to give you a comparison, Eva Langoria pulled in a nine million dollar income during her Desperate Housewives’ days. Nice huh?
If you really want to earn these levels, you better start having an amazing level of English in these high profile positions. Many are located in either Chicago, New York City, or London. They also seek some high profile schools, advanced degrees, etc. I am sure they will bypass all this if you show track record. They even ask you to send in solid Profit N Losses (PNLs) with your resume. This is highly attractive so there is the potential.
All these jobs look like they require you to know C++, C#, Java, and some statistical packages like R or Matlab. Get learning folks. I am also sure these recruiters will not give a f*ck if you don’t have the advanced degrees or even other credentials like CFA. Just have a credible and solid PNL!!!