Reply to Would you send your DC to HYP so that they will find a quant job?

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[quote=Anonymous][quote=Anonymous]People forget that some of these firms are now fairly large and hire interns for many departments.

A firm like Citadel or Jane Street have roles outside of quant trading, and they hire summer interns...some are working in PR/Bus Dev/Marketing which have zero to do with trading, but nonetheless can be lucrative compared to other internships in those types of areas.

Similarly, Goldman Sachs hires interns to work in their PE groups, their prop trading groups, there investment banking groups...as well as back-office fulfillment jobs as well as their IT groups, marketing groups, etc. [/quote]

Exactly. Half the people who brag about working at these places or who brag about their friends and relatives working there are in middle or back office roles. They still make a very nice living and it is nothing to be ashamed of, but they aren't setting the world on fire. But people are dumb enough to think that everyone there is making billions and doing groundbreaking things. The devil is in the details.

Unlike all of the name droppers here, I actually do have a friend at Jane Street. And they are in a mid/back office job. They make a decent living but are far from rich - probably donut hole.[/quote]

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