2017 Q1 Summary
Hiring has continued apace in 2017. In some ways, it feels like the market is leaning back towards the Sell-side for career advancing opportunities.
Buy-side hiring is idiosyncratic depending on the performance of each company, but the general trend is down as hedge funds continue to face headwinds. Eton Park Capital’s recent announcement that they are shutting down after a single down year is telling.
Peak in regulatory hiring
Hiring for regulatory related positions has been one of the few bright spots since the Credit Crisis. However, regulatory related hiring has likely peaked as much of the work has been done, and the current administration looks to roll regulations back. AML/KYC expertise continues to be in demand.
Web tech replacing C# for front-ends – it’s official
I’ve never seen a technology replace another so quickly. JavaScript and related technologies have supplanted C# GUI’s. Most groups we work with are actively moving to web-based front-ends or thinking about how to move their front-end architecture in that direction. We currently have very few C# front-end positions and no end of demand for JavaScript developers. AngularJS is in high demand.
How to get ahead
Theo Epstein became baseball’s youngest GM ever at the age of 28 in 2004. He has since broken both Boston and Chicago’s championship curses. I thought this advice from Theo was incredibly insightful: "Whoever your boss is, or your bosses are, they have 20 percent of their job that they just don't like. So if you can ask them or figure out what that 20 percent is, and figure out a way to do it for them, you'll make them really happy."
What does it take to get hired by an ultra-exclusive group?
This article outlines the screening process and expectations for Goldman’s exclusive Strats group and touches on the financial rewards that can be realized by top producers in that group. In our experience, it’s quite accurate. Top hedge funds have similar if not higher expectations, and in some cases the process is significantly harder than Goldman’s.
Note that not all Strats groups are created equal. This article is required reading if you read the previous one.
I find it interesting that in 2017 to date, the response rate from Goldman Sachs employees to our LinkedIn outreach far and away exceeds that of any other company:
Have you thought about doing something else?
We’ve commented many times that the market is very difficult for mid-senior technology managers in capital markets. An executive director at a major Japanese bank was recently downsized. The first thing his outplacement consultant asked him was, “Have you thought about doing something else?” This segment continues to be extremely challenging.
Current Priorities
Buy Side
- Senior data web apps developer
- Elite C++/Python developers to work at one of the industry’s most prestigious funds
- Low-latency C++ developer for expanding prop shop
- Junior C# developer for desk-facing dev team
- Expert C++ developers to help build multi-strategy trading infrastructure
Sell Side
- Team lead, hands-on KDB developer for FX eTrading - Fulltime
- C++ developer for Equities Market Making Desk (reports to desk)- Fulltime
- Java algo trading developer, Equities - Contract
- Java algo trading developer, Fixed Income Credit - Fulltime
- JavaScript contractor for Credit Strats group, FID Credit Complex - Contract
- JavaScript developer for Wealth Management client applications - Contract
- JavaScript developers for SPG applications - Fulltime
- KDB developer for equity market data - Contract
- C++ developer for CVA IT – fulltime and Contract
- SPG analytics C++ developer - Contract
- C# developer for Credit eTrading applications – Fulltime
- Senior Scala developer for Credit/Rates/FX cross asset risk implementation - Fulltime
- SQL Server Database developer for Wealth Management – Contract
- Java developer FX IT – Fulltime
- DB2 developer, Securities Lending – Contract
- Java developer, Securities Lending – Contract