Quant news

See this for current quant market condition...

Bank runs

Northern Rock, Alliance & Leicester, Bradford & Bingley...
See this article.

Hiring freeze

A couple of my friends had their offers rescinded. It sucks. See here for more news.

Nice gesture

It was really nice of my manager, or rather ex-manager (who wanted to bring me over to NY), to drop me an email saying I could use her as a reference and also let prospective employers know that I would actually have received a formal offer if not for the US immigration issues.

Suddenly I find myself having so much time I don't really know how to make good use of it. Other than recuperating from the intensive 10 weeks, haha, I've practically got nothing much to do, in terms of stimulating my brain cells. But it's also nice to be idling around for a while. I'll be going home soon!

Maybe I'll take some time off to visit friends in Asia too. Not having any source of income can be a problem though.

Oh yeah, I might have to change the title of this blog now that I will no longer be in the "quant" profession. A short-lived blog I'll have to say.

Disappointed, yet relieved

Apparently I'm supposed to have an offer from the team in NY, however, due to US immigration issues I will not be able to join the team until Oct 2008. And the fact that the team needs someone asap means I have not got an offer. Yes you can imagine that I am very disappointed given the fact that I've worked hard and have got very good reviews, but at the same time I'm relieved that I've finally been informed of a final decision. Could I just blame it on luck?

Anyway, this means I'm very much more inclined to head back home, for a fresh start in getting my career plans sorted. I've never worked in my home country, and I'm clueless as to what kind of quantitative roles there are. I have an interview at home lined up so we'll see how that goes.

Like a friend said, it could be a blessing in disguise, saving me from all the long-working hours and sleep deprivation. I'm not bothered too much really, for once I'm actually looking forward to going home. Another friend told me it'd be a waste to give up on my dreams and walk away, but I've had a taste of what it's like and I enjoyed every bit of the experience. Being a quant doesn't mean working for an IB or a large hedge fund or asset manager only, anyone could ramp up some job descriptions and label it as quant analyst/developer.

I'm more or less set on going home in 2 weeks, and I'll update on what prospects there are.

Weeks 9 & 10

As expected, the % of offers this year isn't as high. I suppose the firm thinks that the credit meltdown isn't just temporary. Anyway, I've thoroughly enjoyed the experience, and I have done pretty well. Some of the guys have been given a full-time offer, and for some, it's back to job search again.

I've got very good reviews from all the desks, BUT have not been given a final hiring decision yet (HR will get back to me next week). That's indeed frustrating and puzzling. Some of the senior managers told me they'll take me in if they could increase headcount. Nice to know that, but doesn't count for much if I don't have an official offer.
Now I'm not sure what to do, either stay in London or go back to Asia. I know my parents want me home, they keep reassuring me I'll find a "decent" job.

Yep, bottom line...I'm left in a limbo. It's been an excellent 10 weeks though. Good luck to quant-wannabes out there.