OT: Career advice Part II

[Kane One]

Don't Hedge Funds now do a lot of algorithmic trading?

Yeah I’m definitely not qualified for those types of roles. Those developers generally have a really strong math background.

 

[CasusBelli]

Software developer at a hedge fund I never heard of in the financial district.

The downside of working at hedge funds as a software developer is that although they invest in technology for obvious reasons, it’s really a slow process to bring on some new tools, and at the end of the day, they care more about working software than pretty/fancy software that’s more maintainable. So it gets pretty f***ing boring.

The upside is that these roles pay really well and I’m not quite sure as to why.

Is this a quant developer role?

 

[CasusBelli]

Software developer at a hedge fund I never heard of in the financial district.

The downside of working at hedge funds as a software developer is that although they invest in technology for obvious reasons, it’s really a slow process to bring on some new tools, and at the end of the day, they care more about working software than pretty/fancy software that’s more maintainable. So it gets pretty f***ing boring.

The upside is that these roles pay really well and I’m not quite sure as to why.

Don’t be suckered in by “hedge fund”. What is their strategy? How many years in operation? What is the background of the founder / PM? What is the AUM? Annual returns over the past 3-5 years?

 

[Algernop Kreider]

Software developer at a hedge fund I never heard of in the financial district.

The downside of working at hedge funds as a software developer is that although they invest in technology for obvious reasons, it’s really a slow process to bring on some new tools, and at the end of the day, they care more about working software than pretty/fancy software that’s more maintainable. So it gets pretty f***ing boring.

The upside is that these roles pay really well and I’m not quite sure as to why.

I'm a quant developer and you basically just described my life. I'd describe it as frustrating more than boring though, as the past two years we've made some big investments in trying to modernize our tech stack, and my manager has a pretty ambitious set of plans to do so. Only time will tell if it all falls into place...

 

[SnowblindNYR]

So I'm very frustrated. I interviewed with a company that does something very similar to what my current company does (subprime loans). The process was like this:

1) Phone screen that last a little more than 5 minutes

2) Interview with the hiring manager, which was more or less a regular interview, but was very chill. In the end he did something no one else did and gave me feedback and told me that he's putting me through to the next round but that the two colleagues that I'll talk to I should not get in the weeds of what I do because I lost him.

3) I spoke with two people on the hiring manager's level and both were 80% me asking them questions. They asked me a couple of softballs and then asked "what questions do you have for me?" I thought the questions were good and I made a point of showing that I have transferable experience and that I did my research on the company. So I thought I did well. One of the guys when he heard I had a marketing background almost started selling on a role on HIS team that involves marketing.

Two weeks later I got rejected. I have no idea why. I thought I did as well as I could.

 

[Kane One]

Don’t be suckered in by “hedge fund”. What is their strategy? How many years in operation? What is the background of the founder / PM? What is the AUM? Annual returns over the past 3-5 years?

I currently work at a distressed hedge fund (one of the top 10 by AUM in the world).

The new position is at a hedge fund with about $120B AUM that’s about 15-20 years old. From what I learned about them in the first round, they doubled their AUM over the past couple years (obviously by taking in more investors than gains, because that would be pretty ridiculous unless it’s Renaissance Technologies). I don’t want to go too deep into them here as to not give any hints as to who they are.

The technology team at this fund is way smaller than where I’m at now which could mean I’ll eventually become overworked, but that should be down the road once I’ve been brought fully up to speed. So it can’t be worse than my position now, I’d think.

 

[Kane One]

I'm a quant developer and you basically just described my life. I'd describe it as frustrating more than boring though, as the past two years we've made some big investments in trying to modernize our tech stack, and my manager has a pretty ambitious set of plans to do so. Only time will tell if it all falls into place...

We’ve made some big enhancements too but then now it seems like we stopped. They keep talking about the cloud for like two years, docker, and now all they seemed focused on is ML which doesn’t solve any of our real problems. Everything is f***ing stored procedures and every app querying other apps’ tables directly. It’s an absolute mess.

 

[SnowblindNYR]

So I'm in the middle of 7 interviews in 8 days and 5 business days. 4 really interesting companies. I already made it to second round with two, had one second round today.

I've gotten good at interviewing. Though my second interview today wasn't quite as smooth as the first three. I'm really hoping I have at least one offer from these 4.

 

[LokiDog]

Does anyone know anyone in the UX/Product design industry? I feel like I’ve reached an impasse here in Texas and I’d be fine with returning to the east coast.

 

[SnowblindNYR]

Does anyone know anyone in the UX/Product design industry? I feel like I’ve reached an impasse here in Texas and I’d be fine with returning to the east coast.

Very tangentially. I have a former coworker but I haven't worked with her since 2015. So not sure how useful that connection is, sorry.

 

[HFsNumber1Heel]

So I'm very frustrated. I interviewed with a company that does something very similar to what my current company does (subprime loans). The process was like this:

1) Phone screen that last a little more than 5 minutes

2) Interview with the hiring manager, which was more or less a regular interview, but was very chill. In the end he did something no one else did and gave me feedback and told me that he's putting me through to the next round but that the two colleagues that I'll talk to I should not get in the weeds of what I do because I lost him.

3) I spoke with two people on the hiring manager's level and both were 80% me asking them questions. They asked me a couple of softballs and then asked "what questions do you have for me?" I thought the questions were good and I made a point of showing that I have transferable experience and that I did my research on the company. So I thought I did well. One of the guys when he heard I had a marketing background almost started selling on a role on HIS team that involves marketing.

Two weeks later I got rejected. I have no idea why. I thought I did as well as I could.

Don't get down dude (lol @SnowblindNYR I'm becoming you Burgess Meredith/Morgan Freeman/Master Splinter hype man even though I'm probably like 4-5 years older than you). From 2010-2015 I had the same thing happen, I went on dozens of interviews, made it to round two, three, etc. and never had any success. Finally from 2016-now I've had some fortune and including my current role which I've been at almost three years and do "leadership stuff".

Keep your head up, listen to good music (Blood Ceremony is the modern Sabbath with a little Jethro Tull), and keep lifting 'dem weights in your free time.

 

[SnowblindNYR]

Don't get down dude (lol @SnowblindNYR I'm becoming you Burgess Meredith/Morgan Freeman/Master Splinter hype man even though I'm probably like 4-5 years older than you). From 2010-2015 I had the same thing happen, I went on dozens of interviews, made it to round two, three, etc. and never had any success. Finally from 2016-now I've had some fortune and including my current role which I've been at almost three years and do "leadership stuff".

Keep your head up, listen to good music (Blood Ceremony is the modern Sabbath with a little Jethro Tull), and keep lifting 'dem weights in your free time.

Thanks man. This is a lot of progress, I used to not be able to make it past the first round. I got some great feedback yesterday (rarer than seeing bigfoot). It just seems extremely competitive right now. I'll share the email, really hoping I'm not overstepping my bounds doing that:

You did nothing wrong other than interview at a time when the talent pool is the deepest I have ever seen. We have so many quality candidates (yourself included) that it creates very stiff competition. There have also been several candidates that applied who come from our competitors. That said, I have no problem presenting you to other hiring managers as other suitable roles open up.

I wish you the best with your search and please don’t hesitate to apply for other positions that you feel are a good fit.

Props to this recruiter this was really appreciated.

 

[SnowblindNYR]

I just got another second round. 3 for 3, so far in getting second round. Better than usual!

 

[HFsNumber1Heel]

Thanks man. This is a lot of progress, I used to not be able to make it past the first round. I got some great feedback yesterday (rarer than seeing bigfoot). It just seems extremely competitive right now. I'll share the email, really hoping I'm not overstepping my bounds doing that:



Props to this recruiter this was really appreciated.

Yeah, often these roles often have a finalist but they have to interview other people to not show favoritism or if Plan A fails, etc.

 

[SnowblindNYR]

Yeah, often these roles often have a finalist but they have to interview other people to not show favoritism or if Plan A fails, etc.

Yeah, I've been a finalist in those situations, though I didn't go through so you still have a shot even if they do have a finalist.

 

[Amazing Kreiderman]

Arrived in Dublin, Ireland for my new job yesterday. It's bittersweet. I'm going to miss Vienna but this job is too good to turn down.

I'm waiting for my equipment now and will be working from home mostly. My new manager is really nice. Gives me time to adjust etc. Overall a very pleasant experience.

 

[SnowblindNYR]

Arrived in Dublin, Ireland for my new job yesterday. It's bittersweet. I'm going to miss Vienna but this job is too good to turn down.

I'm waiting for my equipment now and will be working from home mostly. My new manager is really nice. Gives me time to adjust etc. Overall a very pleasant experience.

That's the most excited I've ever heard a datacenter manager in my life.

 

[Amazing Kreiderman]

That's the most excited I've ever heard a datacenter manager in my life.

Well, I love my job. Working from home I get more done so it's not bad.

I will spend most of my time finding a permanent residence

 

[East Coast Bias]

Arrived in Dublin, Ireland for my new job yesterday. It's bittersweet. I'm going to miss Vienna but this job is too good to turn down.

I'm waiting for my equipment now and will be working from home mostly. My new manager is really nice. Gives me time to adjust etc. Overall a very pleasant experience.

Congrats. Where around Dublin are you going to live?

 

[Amazing Kreiderman]

Congrats. Where around Dublin are you going to live?

Not sure yet. I have my induction meeting either today or tomorrow with my manager and Thursday I have a meeting with the relocation company which is assisting me in finding a place

 

[CasusBelli]

Arrived in Dublin, Ireland for my new job yesterday. It's bittersweet. I'm going to miss Vienna but this job is too good to turn down.

I'm waiting for my equipment now and will be working from home mostly. My new manager is really nice. Gives me time to adjust etc. Overall a very pleasant experience.

Alles gute!

 

[CasusBelli]

So I'm very frustrated. I interviewed with a company that does something very similar to what my current company does (subprime loans). The process was like this:

1) Phone screen that last a little more than 5 minutes

2) Interview with the hiring manager, which was more or less a regular interview, but was very chill. In the end he did something no one else did and gave me feedback and told me that he's putting me through to the next round but that the two colleagues that I'll talk to I should not get in the weeds of what I do because I lost him.

3) I spoke with two people on the hiring manager's level and both were 80% me asking them questions. They asked me a couple of softballs and then asked "what questions do you have for me?" I thought the questions were good and I made a point of showing that I have transferable experience and that I did my research on the company. So I thought I did well. One of the guys when he heard I had a marketing background almost started selling on a role on HIS team that involves marketing.

Two weeks later I got rejected. I have no idea why. I thought I did as well as I could.

Sometimes it is a matter of fit. I’ve had cases, mostly with foreign companies, in which case I know I’ve aced the technical aspect but can tell right away that something is off with my interviewer. Maybe he’s stuck up, maybe he has no humor, maybe he’s too dry. In the end, however, I’ve found that things really do work out for the best. I can’t imagine having wanting to stay in trading at a certain French bank or at market risk at another German bank — even though at the time I wanted those positions more than anything.

 

[SnowblindNYR]

Sometimes it is a matter of fit. I’ve had cases, mostly with foreign companies, in which case I know I’ve aced the technical aspect but can tell right away that something is off with my interviewer. Maybe he’s stuck up, maybe he has no humor, maybe he’s too dry. In the end, however, I’ve found that things really do work out for the best. I can’t imagine having wanting to stay in trading at a certain French bank or at market risk at another German bank — even though at the time I wanted those positions more than anything.

Maybe, but I wish I knew what the fit problem was. Maybe it was just the competitiveness of the process.

 

[CasusBelli]

Maybe, but I wish I knew what the fit problem was. Maybe it was just the competitiveness of the process.

Perhaps. When I was a senior in college, I was invited to a Bank of America Super Day in North Carolina. I scored second in the case study competition, had some great conversations with VPs at lunch and felt I got on great with my teammates in the group competitions. One MD told me I answered questions like an MBA grad. Did not get an offer or even a call back. It happens.

 

[SnowblindNYR]

Perhaps. When I was a senior in college, I was invited to a Bank of America Super Day in North Carolina. I scored second in the case study competition, had some great conversations with VPs at lunch and felt I got on great with my teammates in the group competitions. One MD told me I answered questions like an MBA grad. Did not get an offer or even a call back. It happens.

So you bullshitted your way through?