I would appreciate any perceptions on the job market in Chicago for quant finance in general. I've been admitted to UChicago MSFM and CMU MSCF (in NYC) for fall 2008, and I'm planning to stay and work in the city in which I attend school. I really like the city of Chicago, but I don't want to make a significant sacrifice in career opportunities over it. I don't have industry experience in finance, so I don't have a good feel for what Chicago/New York have to offer. Thank you for any insight.

QuoteOriginally posted by: joedesertI'm planning to stay and work in the city in which I attend school.Under this rather weird constraint of not moving after the MS, there are only two choices - NYC or London. Forget all else.

QuoteOriginally posted by: ArthurDentQuoteOriginally posted by: joedesertI'm planning to stay and work in the city in which I attend school.Under this rather weird constraint of not moving after the MS, there are only two choices - NYC or London. Forget all else.Why? (Maybe you should go back to wearing your dressing gown AD?)

QuoteOriginally posted by: TraderJoeQuoteOriginally posted by: ArthurDentQuoteOriginally posted by: joedesertI'm planning to stay and work in the city in which I attend school.Under this rather weird constraint of not moving after the MS, there are only two choices - NYC or London. Forget all else.Why? (Maybe you should go back to wearing your dressing gown AD?)Why what?Why are there jobs in only NYC and London? Because those are the financial centres of the world. New Zealand probably ranks a clsoe second in your mind, but that is only in your mind.Or Why is the constraint weird? Obviously if someone is willing to consider moving to NYC or Chicago to change their career, then why should that person not want to move again in 2 years to NY/LON? Seems weird.I am always wearing my dressing gown, and hitchhiking with the aid of my towel. Unfortunately this planet is filled with accountants and telephone sanitizers like you.

Weird constraint aside, can anyone working in Chicago comment on the range of quantitative jobs available there? I haven't heard many positive takes on this...

Its true that most quantitative jobs at I-Banks are in NYC or London, but you also have to consider all the hedge funds/trading shops that are in Chicago. Two major futures/derivatives trading floors are in Chicago so its natural that there would be quant jobs available. You just have to try harder to get a job than in New York.

Chicago also is home to a ton of prop shops, which one normally does not read about in the media. Prop trading isn't for everyone, but it can be very lucrative, casual, and fun. (or maybe not)

I'd appreciate if someone could post a list of top hedge funds and prop trading groups in Chicago.

Hedge Funds Citadel of course. Magnetar which was founded by a Citadel executive. UBS/O'Connor Ritchie Capital----given all the news stories it is hard to tell what is left.Other firms that may be of interest DRW Lotsoff Capital Management Chicago Trading Company AlphaWorks Capital Spot Trading

thank you jfuqua.

QuoteOriginally posted by: LTrainChicago also is home to a ton of prop shops, which one normally does not read about in the media. Prop trading isn't for everyone, but it can be very lucrative, casual, and fun. (or maybe not)what are the pros and cons of prop trading shops, esp compared with hedge funds (let's only talk about those quant shops),