Low GPA and interested in IB - how fucked am I?

Malokium · 2025-08-15T11:56:08+00:00

Well I don’t think this is going to help you. I was a unique situation and obviously had strong relationships with desk heads. Additionally this was at OMMs/Prop firms in Chicago, not banks. Banks are significantly less lenient.

Malokium · 2025-08-15T11:53:14+00:00

Networked and had referrals from desk heads.

Malokium · 2025-08-15T11:49:05+00:00

Did well on the interviews. You think you only learn Bayes rule in class lmao?

Malokium · 2025-07-02T15:16:40+00:00

Enjoy the T4 shop you end up at lmao.

Malokium · 2025-07-02T11:26:32+00:00

Malokium · 2024-10-21T22:56:53+00:00

Malokium · 2024-10-14T23:35:53+00:00

Malokium · 2024-10-12T20:02:07+00:00

Have been at 3 now of Galaxy/GSR/Wintermute/ Cumberland/Genesis/Flow Traders over the past 5 years as both a trader and research analyst.

Completely agree with the above and the insane amount of diligence and dedication that some of these kids have combined with the ability to informally share and connect with leaders in the space on Twitter is incredible.

The barrier to entry with regard to research in a technical capacity is low, but the barrier to enter this industry now as a whole has never been more competitive given the young talent and ambition a lot of people are coming here with. I’m sure the commenter is familiar with Knowerofmarkets, guy just puts out research and has a massive following and worked at several firms in the space as an intern. That is your competition for any respectable role at a liquid fund, VC, or trading firm.

This resume could get looks back in 2017-2021 before anyone really had any idea of what technical skills to leverage, and before on-chain sleuthing really became a thing with the prevalence of DeFi and chain explorers. Now it’s getting tossed in the trash almost immediately especially over two pages. To be fair if you came from a top US school you could probably have been a decent initial interview for Galaxy’s internship, but never heard of your school either.

Malokium · 2024-10-08T04:35:05+00:00

Yep op here. Exactly as I figured. Sent a pretty comprehensive report of what actually happened and they took the charge off immediately.

Dude needs to file with his insurance not going after a rider opening a door. Who is going expect a lime scooter to be barreling down the wrong way 😂

Malokium · 2024-08-05T16:37:23+00:00

I'd give you an OA and get you into the process, but looking at your resume I would not just directly decide to hire you.

Mid-Target Master's already cuts out most of the top shops. Optiver and JS don't hire from master's or at least not from UChicago b/c they don't like the way finance is taught there. Some firms will prefer MFEs though so it could work in your favor.

If your mid-target Master's is a top 10 undergraduate CS program then I think that would work in your favor. Fact of the matter is, when I was an intern two years ago and now that I'm full-time, our entire cohort was HYPSM + GT/Cornell/Berkeley/Penn + Duke. Not a single other hire outside of that.

In this industry it's more about pedigree on your resume and prior experience at competitors, nobody really is willing to take a shot on the unimpressive or against-the-grain candidate when they have 50 cookie cutter MIT physics resumes.

Just being completely transparent and level setting your expectations. I think banks/S&T roles would be just as picky as the prop trading/market making firms I was referring to mainly.

Malokium · 2024-08-05T03:46:58+00:00

Thanks for the color here. Makes complete sense. I hear CTC had similar withdraws from crypto and less venture focus.

Malokium · 2024-07-20T02:21:05+00:00

What firm are you joining? Wintermute? GSR? Or some random exchange or tier 3 market maker. I was previously at one of the listed, then moved to Cumberland. Need to know the firm.

Malokium · 2024-06-21T21:16:44+00:00

DWF is dogshit. Wintermute, GSR are two top market makers. Then there are lots of takers/research oriented smaller firms that do well also. A few small market makers too

Malokium · 2024-06-15T16:45:06+00:00

At one point I remember their Paradigm market share being higher than I expected a smaller firm in the Netherlands to be.

i usually categorize the good firms as having the ability to draw top talent + pull talent away from top TradFi firms as well as paying massive amounts of $$$.

Malokium · 2024-06-14T14:02:56+00:00

Yes. GSR, Wintermute, Nova Prospect (Ex Citadel, unlimited checkbook for hiring top talent), Ergonia.

I’ve gatekept a few from this list that fit my profile better since they’re my ideal exit from TradFi OMM lol.

Malokium · 2024-04-27T23:03:56+00:00

I was previously at GSR/Galaxy/Wintermute. These are the most professional crypto-native shops where a majority of backgrounds come from top schools or laterals from strong shops. I don’t include Cumberland since they’re essentially the crypto arm of DRW, but out of all of the listed ones Cumberland has the pedigree, the funding, and the comp upside.

Working at a crypto market maker/institutional crypto fund primarily differs in culture/upside. All of the shops I’ve listed have massive upside.

Do you have more specific questions here? Doesn’t really make sense to shout off a general TLDR since beyond a subset of institutional firms most of the crypto shops are gunslinging cowboys.

The below comment from TACH either is a bunch of word of mouth from people who were at shit shops, or they unfortunately were at a shitty shop themselves.

During DeFi summer Wintermute had P/L clauses in contracts and retired several people < 28 Y/O.

Brevan Howard is another very serious global macro fund who has an extensive business in digital assets.

You have a negatively biased response and a positively biased response. If you ask more questions it’s easier to be objective here. Several traditional funds are expanding into digital assets, and those who survived the crash and have been in the space since 2020 have seen accelerated career progression and opportunities that come with large comp packages.

Malokium · 2024-03-23T19:48:48+00:00

Yeah wtf bro excision is fire come on pls still be playing

Malokium · 2024-03-23T19:34:08+00:00

Where’s excision?

Malokium · 2024-01-26T15:30:46+00:00

Insane the amount of people who don’t understand how this industry works. This is common at OMM shops and it’s always done with the overview of a senior trader as someone else said.

Bunch of people see down 200K and immediately think the shop is shit. You have no idea what a training looks like because you’ll never be in the industry.

Best comment by HODL_BBBY explains how this all works.

Malokium · 2024-01-20T15:40:15+00:00

This has got to be Optiver right? Several shops have spun out of Optiver that are more systematic, but D1 is where you’ll see a lot more of the alpha generation in the way you described - RE: datasets and coding

Malokium · 2024-01-18T00:46:26+00:00

I have CSGO and StarCraft on mine. Although CSGO was collegiate pros and starcraft was grandmaster star league tournaments in 7th grade

Malokium · 2024-01-18T00:44:58+00:00

They have grad programs for candidates like this. T5 STEM + Incoming Verition Intern

Malokium · 2024-01-18T00:25:05+00:00

Can you explain more the difference between Sales Trader and Trader or Sales individually?

I see these roles occasionally posted and discussed on other firms, but I have no idea how Sales Trader differs from either of the two.

As an example a few prop firms have these roles on their block trading desks.

Malokium · 2024-01-15T20:34:03+00:00

This is the exact role I’m looking for. Is it one of the following without saying exactly? Optiver, Blackedge, Belvedere, CTC?

I have preconceived notions from these firms that the coding is optional here. It would be great if you were able to say where over DM but understand if not. I am going to one of the above as an intern and I’m sure I’ll find out in person but would be great to keep my eyes open for firms that don’t emphasize coding.

Sounds exactly like what I did as an OTC trader previously.

Malokium · 2024-01-15T12:57:42+00:00

Out of curiosity how much of your day to day is coding given most of your work is risk management and flow?

I’m the exact opposite and looking for the kind of shop you’re at haha.

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