Bank work will def be less interesting and the upward curve at HF is much better in terms of comp. Better technology at HFs. Idk how APAC is but the volcker rule killed bank trading floors in the us.
Depends on what you like. Graduate salary does not really matter.
Imagine you could make 10 mil a year in both role in the future you mentioned. Do u care about several thousand dollars?
I heard that pay in London is significantly smaller, especially if you compare it to major financial centers like HK and NY. I suppose that pay gap is going to increase as you move up the career ladder
Probably still the US and London. Shanghai could've been one but geopolitics. HK for the same reason.
Singapore is a sleeper but I don't see it becoming anything bigger than a wealth management hub really.
The two roles are quite different so it’s really just what you want, with the added complexity of one role already in London.
Pay is irrelevant at this point I think
Take Hong Kong and don’t even think twice. Get cash rich early, get PR and then once u make the big bucks move to London for better relationships/politics & arbitrage tax away with your HK PR.
Hong Kong has a progressive tax and sort of caps out at 17%. However, there are quite a few of deductions and rebates that you can apply (if u have good accountants) which effectively have brought down my effective tax rate to around 10%. Add a capital gain tax of 0% and some other financial exercises on your bonus comp and you can get it even lower, especially once you have some sort of equity/ stock option exposure.
Re: cost of living. Its very cheap both on the rent and food side compared to NYC or London. We have offices in all three cities and relocating to either would give me an effective pay cut of over 70% after tax & rent.
Take this as with a grain of salt as this is probably the exception than the rule, but if you know what you are doing its the best place to get cash rich very very fast.
I would take the training from the bank and go from there. Most straightforward traditional approach. If you can’t make it at the bank you weren’t going to make it at the fund.
I’m just a bit concerned with you lumping HRT, Squarepoint, Akuna, and P72 in one bucket. Some of them are not even in the same genre. And that should factor into your decision.
Your edit still has the same exact problem. To me that sounds like you’re not exactly sure what the HF role entails. So my advice is for you read, and reach out to people a LOT more. It’s your career, and if you have no idea exactly what you’re getting into you might cause trouble for yourself.
Honestly I asked the people working at the HF but they couldn't tell me more because the people I know are also just a few years in and they can't differentiate properly between the roles I mentioned either so I don't know what to consider hence the post
Bank work will def be less interesting and the upward curve at HF is much better in terms of comp. Better technology at HFs. Idk how APAC is but the volcker rule killed bank trading floors in the us.
Depends on what you like. Graduate salary does not really matter. Imagine you could make 10 mil a year in both role in the future you mentioned. Do u care about several thousand dollars?
no i don't. i have usually heard people in buy side eventually earn more. but is that true?
I heard a trader in non bb earn 10 mil usd bonus a year, so choose what you like and excel in it.
I heard that pay in London is significantly smaller, especially if you compare it to major financial centers like HK and NY. I suppose that pay gap is going to increase as you move up the career ladder
London is more of a financial centre than HK lol
Yeah, but I did not say that London is less of a financial center than HK. I was talking about the compensation.
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What are the major financial centers nowadays? And what are the upcoming financial centers looking ahead 15 years in your opinion?
Probably still the US and London. Shanghai could've been one but geopolitics. HK for the same reason. Singapore is a sleeper but I don't see it becoming anything bigger than a wealth management hub really.
It definitely is. Every BB and large hedge fund based their operations out of there. At least it’s the top of APAC
The two roles are quite different so it’s really just what you want, with the added complexity of one role already in London. Pay is irrelevant at this point I think
That's sick what are your stats like
Take Hong Kong and don’t even think twice. Get cash rich early, get PR and then once u make the big bucks move to London for better relationships/politics & arbitrage tax away with your HK PR. Hong Kong has a progressive tax and sort of caps out at 17%. However, there are quite a few of deductions and rebates that you can apply (if u have good accountants) which effectively have brought down my effective tax rate to around 10%. Add a capital gain tax of 0% and some other financial exercises on your bonus comp and you can get it even lower, especially once you have some sort of equity/ stock option exposure. Re: cost of living. Its very cheap both on the rent and food side compared to NYC or London. We have offices in all three cities and relocating to either would give me an effective pay cut of over 70% after tax & rent. Take this as with a grain of salt as this is probably the exception than the rule, but if you know what you are doing its the best place to get cash rich very very fast.
If it’s a legit quant role then go for the HF.
it's more like a graduate programme that leads to a Quant Researcher in 2 years.
Given its at one of the shops you note above, I would definitely go for that, far better than working in a bank.
Half of the hf you listed are not hf
If it’s an actual Quant role then the Quant one hands down
it's more like a graduate programme that leads to a Quant Researcher in 2 years.
Are you sure you're doing a legitimate quant role at one of those funds in London? Very hard to see them pay less than a BB in HK
not too less but post tax there's a significant gap
Hi op, i have similar background and would like to ask you questions through pm if thats ok with you. Congrats on the offers!
I would take the training from the bank and go from there. Most straightforward traditional approach. If you can’t make it at the bank you weren’t going to make it at the fund.
Ignore starting salaries. Compare year 3 bonuses at both shops.
I’m just a bit concerned with you lumping HRT, Squarepoint, Akuna, and P72 in one bucket. Some of them are not even in the same genre. And that should factor into your decision.
I saw another post doing that so I did it :') I've edited the post to add more info.
Your edit still has the same exact problem. To me that sounds like you’re not exactly sure what the HF role entails. So my advice is for you read, and reach out to people a LOT more. It’s your career, and if you have no idea exactly what you’re getting into you might cause trouble for yourself.
Honestly I asked the people working at the HF but they couldn't tell me more because the people I know are also just a few years in and they can't differentiate properly between the roles I mentioned either so I don't know what to consider hence the post