Base salaries for a trader?

P

PauliePorsche

Are traders at Proprietary Trading Firms paid a base salary?

i applied to a financial positions (engineering looking for a career change) and got a response from one firm a few hours ago. It's a small trading company. There is no base salary and a minimum buy in, which is raising a bunch of alarms in my head. Is this standard practice? Do I have a reason to be suspicious?
 
Quote from PauliePorsche:

Are traders at Proprietary Trading Firms paid a base salary?

i applied to a financial positions (engineering looking for a career change) and got a response from one firm a few hours ago. It's a small trading company. There is no base salary and a minimum buy in, which is raising a bunch of alarms in my head. Is this standard practice? Do I have a reason to be suspicious?
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This might help:

http://www.traders.com/Documentation/FEEDbk_docs/2009/10/close.html

Don
 
best places have almost no guarantees but pay out the best %. if you are gonna gamble (since 99% fail) my as well have as much upside as possible that other 1%. my firm gives a stipend each month you later repay when you are profitable (or don't have to if you fail)- but then you get 50-60% of the profits you make trading their money.
 
Quote from PauliePorsche:

Are traders at Proprietary Trading Firms paid a base salary?

i applied to a financial positions (engineering looking for a career change) and got a response from one firm a few hours ago. It's a small trading company. There is no base salary and a minimum buy in, which is raising a bunch of alarms in my head. Is this standard practice? Do I have a reason to be suspicious?
More...

Eat what you kill, son.

Jump on in, the water is really nice.
 
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