2023 Opportunities: When to begin the conversations?
Quant & Discretionary Trading Landscape
As we approach year-end, we continue to see a strong appetite from our clients to engage with new talent across the quant/systematic & discretionary trading landscape. A number of our clients have been the beneficiaries of market volatility and want to capitalize on the opportunity this creates.
We anticipate that hiring will continue throughout the remainder of this year, and Q1 of 2023 will be an incredibly active market. Tardis Group also notes that our team is being engaged in a higher number of new build projects, with significant firms dedicating resources and money to building new business verticals.
This creates a number of unique and exciting opportunities for professionals who are considering making a career move.
We have found that there are typically three routes that candidates and firms take at this time of year:
- Candidates sit tight and wait for bonuses to be paid in early 2023. They then begin to actively search for a new opportunity.
- Candidates begin interviewing with firms and accept an offer. This means they begin any non-compete or notice periods sooner, meaning an earlier start date. Firms often cover the 2022 bonuses left on the table in the form of a sign-on bonus.
- Candidates begin interviewing and accept an offer, signed by the candidate and firm. The mutual agreement is to resign from their current employer once they receive their bonus in early 2023. This means that both the firm and candidate have peace of mind that there is a commitment in place and the candidate can receive their 2022 bonus as usual.
Each route provides different benefits and can be negotiated during the interview process. The overarching benefit of beginning conversations now vs after bonuses are paid in 2023 is that the competition is usually less fierce as some candidates revert to route #1. Great opportunities can be missed by qualified candidates because they simply haven’t made their profile known to firms that are aggressively looking to hire and have a preference for individuals to be in their seats sooner rather than later.
In summary, if you are considering making a move in 2023, it may be worth considering working with a trusted recruiter now and discussing how they can strategically help you identify target firms and put your profile on their radar. Good recruiters will ask you what your preferred route is, and will use their relationships to navigate you through this process favourably.
Tardis Group is well positioned to work with Traders/PM’s, Quantitative Researchers and Technology professionals, we’d be very happy speaking with you to consult on the hiring landscape.
Written by Ryan Pelham
Current Roles
Quant Research - Ryan Pelham
1) Senior QR Rates Vol A significant hedge fund hiring rates vol specialist in New York or London.
2) Senior Quant Researcher (Team Lead) A leading crypto trading firm hiring senior quants in Chicago, New York or London.
3) Quant Strat Execution (New Team) A top-tier prop trading firm building out execution for equities and futures in Chicago, New York or London.
Trading/PM - Vickram Tandon
1) Systematic & Discretionary Commodities/Futures PM Major Alternative Asset Manager hiring in New York, London or Dubai.
2) EM Rates & FX PM Major Alternative Asset Manager hiring in New York, London or Dubai.
3) Systematic Macro PM Major Alternative Asset Manager hiring in New York, London or Dubai.
Trading/ PM - Michael Hunt
1) FX Options Trader / PM Leading US proprietary trading firm, G10 FX build in London.
2) Head Delta One Leading US buy side firm looking for a Head of Delta One Business in London.
3) Index Rebalance PM Significant buyside firm hiring index rebalance PM & team build out in New York.
Technology - David John Ryan
1) Lead Developer/Architect Global Crypto Hedge Fund to build out the US Engineering efforts in New York.
2) Lead C++ Developer A top proprietary trading firm to build firm wide trading technology from the ground up in New York.
3) Sr. Java Developer A significant hedge fund to build middle office technology in New York.