First New York Securities

Quote from john_nyc_trader:

Used to go there every other weekend and party with friends. I have a scant recollection of "The Branch" :)
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Oh Yeah..The Long Branch on Washington Ave. I lived an 8 iron away from that spot for a year. It was a blurry year. It's a total frat joint now. And being that I'm in my mid 30's I'd look silly in there. Although I did go in WT's last week.
Party On!
 
I thought University of Wisconsin- Madison always came out number one in those surveys of drunken debauchery? Oh well haven't been there for a Halloween blow out in a long time, maybe they've mellowed.
 
they are a fantastic firm.......first class .......been arround for mabye 30 yrs...........get a personal interview.......m
 
Quote from bruford90125:

Does anyone else have any idea as to how receptive a firm like FNYS is to receiving the resumes of experienced traders from other hedge funds?
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Depends on how profitable you are and what is your pedigree. Where do you trade now?
 
From what I read on the website, it seems First NY Securities are only looking at Ivy League grads. Seems tough to get in if you don't go to an Ivy... good luck.
 
Quote from WallStWiz78:

From what I read on the website, it seems First NY Securities are only looking at Ivy League grads. Seems tough to get in if you don't go to an Ivy... good luck.
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Yup, that seems to be what they are doing. Really limits their supply of candidates, but to each their own.
 
Quote from Cramerholic:

Yup, that seems to be what they are doing. Really limits their supply of candidates, but to each their own.
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Not true at all, they hire experienced traders as well (prop & self) and will even give a shot to a non-Ivy if you really stand out. They interview more applicants than you think and pay more attention to your experience than your school.
For new guys, it's a win-win situation to get into FNYS, you get an ok salary and good experience on ur resume, while the firm only makes money on you if you make it as a trader years afterwards. Why shouldn't it be that difficult to get in as a newbie?
Even among the Ivys it's hard to make it in, you really need to show you're worth their time. I think limiting to mostly Ivys is backwards, prejudiced thinking but what other steps can they really take besides hiring interviewers to screen through the 1000s of applicants (and growing).
The real problem is not FNYS's tactics of recruiting but the fact that they are the only firm with that business model. If there were 2-3 competitors, it would be different and you would see FNYS open up more and do more searching. Of course, no other prop firm (except maybe one) can afford to do an even semi-similiar model in this environment. It takes a superior group to even take on new guys without initial cap nowdays.
 
seems to me that people would be willing to pay FNYS to learn, even if its their watered down trading style....

that's another avenue that they could persue, but choose not to, for whatever reason.

thank goodness there are millionaires like Michael Parness of Trend Trading to Win, and his television commercials and seminars ....

thank goodness there are firms like Bright Brothers, who take this avenue seriously enough to make it a regular advertised part of their business offerings...

Generic, Schoenfeld, Hold and the few other survivors would all learn a tremendous lesson from those two firms....

FNYS may interview dozens more than one would ever believe but the point is like the one Trump (Donald Trump of The Apprentice) makes, namely his narrow business model suits only those whom he finds worthy.

meanwhile life goes on and others make volumes on those not deemed worthy....
 
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