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kgwr21
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Joined: February 4th, 2015, 9:34 pm

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February 5th, 2015, 9:13 pm

Hi Folks,I have two offers: 1. BoA in NYC, model validation/model risk mgmt. The job is to validate some inhouse or third party models(MSCI Wealthbench, Barra, etc): portfolio optimization(Mean Variance, Black Litterman, Risk Parity), CAPM, Factor model, MC Simulation, linear regression. Mainly used for strategic asset allocation by financial advisors and maybe some porfolio manager.2. Wells Fargo in Charlotte NC, Market risk modeling. The job is to model VaR, Incremental VaR, Stress Testing of commodity, FX, equity, structured, credit, IR. May work on PFE and counter party risk as well.Compensation wise, the second offer is $60k more. Which should I take? I am interested in Stat Arb/ Quantitatve Investment or trading. But No offer from this area. Thanks and have a good day
 
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mit
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Joined: February 5th, 2005, 4:52 pm

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February 6th, 2015, 3:00 am

of course the latter.60k more is a lot
 
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bearish
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Joined: February 3rd, 2011, 2:19 pm

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February 6th, 2015, 3:41 am

mit is right, unless you would really like to live in NYC instead of Charlotte, NC. I know people who would rather live in a 5th floor walk-up studio in Hells Kitchen than a nice Southern villa with a porch in Charlotte, recognizing that they would probably cost about the same per month. Unless you take a short term view, this is very much a life-style choice.
 
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billypilgrim
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Joined: September 3rd, 2014, 1:08 pm

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February 6th, 2015, 7:29 am

QuoteOriginally posted by: kgwr21Hi Folks,I have two offers: 1. BoA in NYC, model validation/model risk mgmt. The job is to validate some inhouse or third party models(MSCI Wealthbench, Barra, etc): portfolio optimization(Mean Variance, Black Litterman, Risk Parity), CAPM, Factor model, MC Simulation, linear regression. Mainly used for strategic asset allocation by financial advisors and maybe some porfolio manager.2. Wells Fargo in Charlotte NC, Market risk modeling. The job is to model VaR, Incremental VaR, Stress Testing of commodity, FX, equity, structured, credit, IR. May work on PFE and counter party risk as well.Compensation wise, the second offer is $60k more. Which should I take? I am interested in Stat Arb/ Quantitatve Investment or trading. But No offer from this area. Thanks and have a good dayTake the first offer (more relevant to your interest in Quantitative investment). PM me the name of the recruiter at the second.
 
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bearish
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February 6th, 2015, 11:03 am

QuoteOriginally posted by: billypilgrimQuoteOriginally posted by: kgwr21Hi Folks,I have two offers: 1. BoA in NYC, model validation/model risk mgmt. The job is to validate some inhouse or third party models(MSCI Wealthbench, Barra, etc): portfolio optimization(Mean Variance, Black Litterman, Risk Parity), CAPM, Factor model, MC Simulation, linear regression. Mainly used for strategic asset allocation by financial advisors and maybe some porfolio manager.2. Wells Fargo in Charlotte NC, Market risk modeling. The job is to model VaR, Incremental VaR, Stress Testing of commodity, FX, equity, structured, credit, IR. May work on PFE and counter party risk as well.Compensation wise, the second offer is $60k more. Which should I take? I am interested in Stat Arb/ Quantitatve Investment or trading. But No offer from this area. Thanks and have a good dayTake the first offer (more relevant to your interest in Quantitative investment). PM me the name of the recruiter at the second.Clever... Actually, if you want to work in market risk modeling for WF in Charlotte your best bet is probably to reach out directly to Roy DeMeo, whose LinkedIn profile rather prominently states that he is seeking experienced quants.
 
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londoner
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Joined: January 28th, 2008, 2:52 am

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February 6th, 2015, 2:59 pm

QuoteOriginally posted by: bearishQuoteOriginally posted by: billypilgrimQuoteOriginally posted by: kgwr21Hi Folks,I have two offers: 1. BoA in NYC, model validation/model risk mgmt. The job is to validate some inhouse or third party models(MSCI Wealthbench, Barra, etc): portfolio optimization(Mean Variance, Black Litterman, Risk Parity), CAPM, Factor model, MC Simulation, linear regression. Mainly used for strategic asset allocation by financial advisors and maybe some porfolio manager.2. Wells Fargo in Charlotte NC, Market risk modeling. The job is to model VaR, Incremental VaR, Stress Testing of commodity, FX, equity, structured, credit, IR. May work on PFE and counter party risk as well.Compensation wise, the second offer is $60k more. Which should I take? I am interested in Stat Arb/ Quantitatve Investment or trading. But No offer from this area. Thanks and have a good dayTake the first offer (more relevant to your interest in Quantitative investment). PM me the name of the recruiter at the second.Clever... Actually, if you want to work in market risk modeling for WF in Charlotte your best bet is probably to reach out directly to Roy DeMeo, whose LinkedIn profile rather prominently states that he is seeking experienced quants.Maybe the OP got an offer from this guy. lol
 
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billypilgrim
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February 6th, 2015, 3:21 pm

QuoteOriginally posted by: bearishQuoteOriginally posted by: billypilgrimQuoteOriginally posted by: kgwr21Hi Folks,I have two offers: 1. BoA in NYC, model validation/model risk mgmt. The job is to validate some inhouse or third party models(MSCI Wealthbench, Barra, etc): portfolio optimization(Mean Variance, Black Litterman, Risk Parity), CAPM, Factor model, MC Simulation, linear regression. Mainly used for strategic asset allocation by financial advisors and maybe some porfolio manager.2. Wells Fargo in Charlotte NC, Market risk modeling. The job is to model VaR, Incremental VaR, Stress Testing of commodity, FX, equity, structured, credit, IR. May work on PFE and counter party risk as well.Compensation wise, the second offer is $60k more. Which should I take? I am interested in Stat Arb/ Quantitatve Investment or trading. But No offer from this area. Thanks and have a good dayTake the first offer (more relevant to your interest in Quantitative investment). PM me the name of the recruiter at the second.Clever... Actually, if you want to work in market risk modeling for WF in Charlotte your best bet is probably to reach out directly to Roy DeMeo, whose LinkedIn profile rather prominently states that he is seeking experienced quants.Actually I was just messing with him :) Not to sound harsh, but I don't think he really needed help in the decision
 
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lexington
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February 6th, 2015, 4:02 pm

Are you new to the industry? Avoid Charlotte. I don't know anything about quant jobs there but I worked there in IT for six months in a bank. After I started working there I found out the real reason why they hired me. The hiring manager's boss wanted to move the entire team to New York. To avoid that, they started hiring in Charlotte. They hired two more people along with me. I was sitting with the other two developers doing nothing. This was ten years ago, but I don't think anything has changed in Charlotte. Lazy people and horrible work environment. But if you want to relax for few months you can go there, the downtown(they call it uptown) is small with good restaurants and bars. Gook Luck.
Last edited by lexington on February 5th, 2015, 11:00 pm, edited 1 time in total.
 
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Cuchulainn
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February 6th, 2015, 4:57 pm

Any blue grass clogging? Move those legs.
Last edited by Cuchulainn on February 5th, 2015, 11:00 pm, edited 1 time in total.
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bearish
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February 6th, 2015, 5:02 pm

QuoteOriginally posted by: lexingtonAre you new to the industry? Avoid Charlotte. I don't know anything about quant jobs there but I worked there in IT for six months in a bank. After I started working there I found out the real reason why they hired me. The hiring manager's boss wanted to move the entire team to New York. To avoid that, they started hiring in Charlotte. They hired two more people along with me. I was sitting with the other two developers doing nothing. This was ten years ago, but I don't think anything has changed in Charlotte. Lazy people and horrible work environment. But if you want to relax for few months you can go there, the downtown(they call it uptown) is small with good restaurants and bars. I wanted to run away after a week, but there were two reasons why I stayed there. First, I could not find a job in New York. Second reason is this. They used to open at noon and serve lunch. Just five minutes walk from Wells Fargo.Gook Luck.Given that this is not the OT, it should be pointed out that the link above is somewhat NSFW (depending, I guess, on where you work).
 
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lexington
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February 6th, 2015, 5:15 pm

QuoteOriginally posted by: CuchulainnAny blue grass clogging? Move those legs.Bluegrass Gospel by Billy Graham
 
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lexington
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February 7th, 2015, 7:54 am

QuoteOriginally posted by: bearishGiven that this is not the OT, it should be pointed out that the link above is somewhat NSFW (depending, I guess, on where you work).If you are able to view the page then it is not NSFW. World is changing. What do you think about this link. It is from marketwatch.com http://www.marketwatch.com/story/close- ... 2015-02-05
 
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bearish
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February 7th, 2015, 1:56 pm

QuoteOriginally posted by: lexingtonQuoteOriginally posted by: bearishGiven that this is not the OT, it should be pointed out that the link above is somewhat NSFW (depending, I guess, on where you work).If you are able to view the page then it is not NSFW. World is changing. What do you think about this link. It is from marketwatch.com http://www.marketwatch.com/story/close- ... 015-02-05I am personally very comfortable with depictions of the female body in all states of dress and undress, but I have also spent enough time in HR/Legal sensitivity training to tell you with a high degree of confidence that either of those links (but particularly the strip club one) can get you into a lot of trouble if handled inappropriately in a large US financial company. To the extent that the world is changing in this context, it is changing toward the more restrictive. As far as I can tell, sexual harassment is almost entirely about the state of mind of the harassed.
 
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lexington
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February 7th, 2015, 4:14 pm

QuoteOriginally posted by: bearishQuoteOriginally posted by: lexingtonQuoteOriginally posted by: bearishGiven that this is not the OT, it should be pointed out that the link above is somewhat NSFW (depending, I guess, on where you work).If you are able to view the page then it is not NSFW. World is changing. What do you think about this link. It is from marketwatch.com http://www.marketwatch.com/story/close- ... 015-02-05I am personally very comfortable with depictions of the female body in all states of dress and undress, but I have also spent enough time in HR/Legal sensitivity training to tell you with a high degree of confidence that either of those links (but particularly the strip club one) can get you into a lot of trouble if handled inappropriately in a large US financial company. To the extent that the world is changing in this context, it is changing toward the more restrictive. As far as I can tell, sexual harassment is almost entirely about the state of mind of the harassed.Regarding "state of mind of the harassed", women love to see such pictures. When it comes to sexual harassment people only think about harassment by men -> women. Other kinds of harassment always happen but the HR/Legal departments do not even have a policy to handle them.I can write a book on sexual harassment by women -> men. Particularly married women. Another kind of sexual harassment I noticed during my first job in wall street is harassment by men -> men. A manager in IT was fcuking about half a dozen contract gay programmers all from the same firm and even offered them full time jobs to some of them. It was my first job, so I could not do anything. Today if I see something like that happening I will record everything and call FBI. The bank survived the financial crisis but the Indian company did not http://en.wikipedia.org/wiki/Satyam_scandalThe only thing I have not seen yet is harassment by women -> women . I hope I will see it one day. Must be happening in HR departments of banks.
 
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DevonFangs
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February 18th, 2015, 7:15 am

QuoteOriginally posted by: kgwr21Hi Folks,I have two offers: 1. BoA in NYC, model validation/model risk mgmt. The job is to validate some inhouse or third party models(MSCI Wealthbench, Barra, etc): portfolio optimization(Mean Variance, Black Litterman, Risk Parity), CAPM, Factor model, MC Simulation, linear regression. Mainly used for strategic asset allocation by financial advisors and maybe some porfolio manager.2. Wells Fargo in Charlotte NC, Market risk modeling. The job is to model VaR, Incremental VaR, Stress Testing of commodity, FX, equity, structured, credit, IR. May work on PFE and counter party risk as well.Compensation wise, the second offer is $60k more. Which should I take? I am interested in Stat Arb/ Quantitatve Investment or trading. But No offer from this area. Thanks and have a good day60k more and 50% higher purchasing power?
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