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Quant Career Rage

Posted: March 28th, 2012, 11:36 pm
by CrashedMint
This deserved its own thread. Courtesy croot.

Quant Career Rage

Posted: March 29th, 2012, 6:43 am
by Cuchulainn

Quant Career Rage

Posted: March 29th, 2012, 11:26 am
by Anomanderis
I dunno what you guys are angry about honestly. You're part of the 1% mostly.Or at least almost there...

Quant Career Rage

Posted: March 29th, 2012, 11:47 am
by croot
Seriously, this is all you have to say? Did no one notice how the author subtly captured the basic tempo of rage comics there? I bet the next thing to happen is some guy will come along trying to downplay this and move it to OT.

Quant Career Rage

Posted: March 29th, 2012, 1:09 pm
by GiusCo
Passive-aggressive folks still hang around, the cream moved to Off Topic forum or Arts studies.

Quant Career Rage

Posted: March 29th, 2012, 1:25 pm
by DevonFangs
QuoteOriginally posted by: AnomanderisI dunno what you guys are angry about honestly. You're part of the 1% mostly.Or at least almost there...First percentile sucks I want to be in the first ppm-ile

Quant Career Rage

Posted: March 29th, 2012, 1:56 pm
by CrashedMint
QuoteOriginally posted by: crootSeriously, this is all you have to say? Did no one notice how the author subtly captured the basic tempo of rage comics there? I bet the next thing to happen is some guy will come along trying to downplay this and move it to OT.it's actually quite good, the faces are used correctly as is most of the dialogue. however the intra-panel positions are wrong, e.g. the "challenge accepted" guys should be on the right, not the left because he is answering. Same with the f7u12 guy and the troll dad in the last panel. further, "optimal transportation" seems like an odd PhD choice as is the phrase "d u know". /feelslikeasir

Quant Career Rage

Posted: March 29th, 2012, 2:02 pm
by CrashedMint
QuoteOriginally posted by: GiusCoPassive-aggressive folks still hang around, the cream moved to Off Topic forum or Arts studies. Actually 95% of the careers forum are endless repetitions of the same "Y U NO LET ME MAKEZ $$$ AS QUANT TRADER!?" thread -- with varying levels of funniness. Personally I think really young posters ("I am a freshmen and studied Introductory Economics. I would like to be prop trader on Merrill's structured vol of vols desk next year.") and the really old guys ("I'm 36 and about to finish a PhD in Arts history. I was wondering what are my chances to start as a quant with BofA and get a 6figure income." make for the best reading.

Quant Career Rage

Posted: March 29th, 2012, 2:35 pm
by frenchX
For me the best career post was the post of an experienced quant in a top IB who wanted to return in academic research.This man is the ppm

Quant Career Rage

Posted: March 29th, 2012, 2:42 pm
by DevonFangs
QuoteOriginally posted by: frenchXFor me the best career post was the post of an experienced quant in a top IB who wanted to return in academic research.This man is the ppm for me was the guy allegedly making 500K<SomeCcy> as a trader and looking for career suggestions on wilmott.com

Quant Career Rage

Posted: March 29th, 2012, 2:52 pm
by capafan2
QuoteOriginally posted by: AnomanderisI dunno what you guys are angry about honestly. You're part of the 1% mostly.Or at least almost there...There was a promise of 1%. The rage is because the promises did not happen. Seven Stages of Grief-1. Shock and Denial - My bonus sucks. I am sure everyone else's rocks. I hate life but at-least there is hope for next year and the year after that.2. Pain and Guilt - I still cannot get over my bad bonus. I must work harder. I do not work enough3. Anger and Bargaining - I must be an fool. I need to get an MBA4. Depression, reflection and loneliness - I did an MBA but only managed to get into Risk. My fellow students have a rocking life5. The Upward Turn - Hey so what if I am in risk, my colleagues have better personality and my wife and kids get to see more of me6. Reconstruction and working through - Ok, I am going be try become a Senior VP in Risk and I will contribute to the world not blowing up. I will develop a spine and stand up to those damn traders7. Acceptance and Hope - I totally internalize the fact that I am in senior management in risk. I can look forward to a comfortable retirement and my Kids will appreciate how I can contribute to their lives. Hopefully my old-age should give me something to cheer about.

Quant Career Rage

Posted: March 29th, 2012, 2:52 pm
by CrashedMint
QuoteOriginally posted by: DevonFangsQuoteOriginally posted by: frenchXFor me the best career post was the post of an experienced quant in a top IB who wanted to return in academic research.This man is the ppm for me was the guy allegedly making 500K<SomeCcy> as a trader and looking for career suggestions on wilmott.comNo, no, he was downgraded to a mere $250K/p.a. so that's why he asked for advice

Quant Career Rage

Posted: March 29th, 2012, 4:16 pm
by frenchX
@Capafan : Very good one !!!Do you think that with the new regulatory framework (Basel 3, Solvency 2, etc...) risk position would still be see as fuck*ng boring and useless by others ?@Crashmind: Passing from 500k$ to 250k$ is quite brutal and it seems that traders do not know how to SAVE money. I have read an article on Bloomberg mentionning that some Wall Street stars had their style of life totally broken by a 30% bonus decrease.

Quant Career Rage

Posted: March 29th, 2012, 4:31 pm
by capafan2
QuoteOriginally posted by: frenchX@Capafan : Very good one !!!Do you think that with the new regulatory framework (Basel 3, Solvency 2, etc...) risk position would still be see as fuck*ng boring and useless by others ?@Crashmind: Passing from 500k$ to 250k$ is quite brutal and it seems that traders do not know how to SAVE money. I have read an article on Bloomberg mentionning that some Wall Street stars had their style of life totally broken by a 30% bonus decrease.I heard their trophy wives were very upset too. They on shop in Lui Vitton and Jimmy Chui. Excuse my spelling, I am too tired to look up the correct spelling of those brands. Besides I am a IT guy. You can empathize with my lack of knowledge of such things.

Quant Career Rage

Posted: March 29th, 2012, 4:37 pm
by DevonFangs
QuoteOriginally posted by: CrashedMintQuoteOriginally posted by: DevonFangsQuoteOriginally posted by: frenchXFor me the best career post was the post of an experienced quant in a top IB who wanted to return in academic research.This man is the ppm for me was the guy allegedly making 500K<SomeCcy> as a trader and looking for career suggestions on wilmott.comNo, no, he was downgraded to a mere $250K/p.a. so that's why he asked for adviceRight, right. I don't know how they can make a living with only 250k$. I could barely afford my Louis Vuitton condoms.