Fnys

T

tbomb

A member asked me to share my experience. Anyone else please do the same:

tbomb wrote on 04-02-04 09:13 AM:
The interview went well. I was told that being as green as was does not make me the ideal candidate. Yet the interviewer said he would recommend me to the second round. I followed up, but never got the call.

My advice, though a bit late, is to be extremely AGGRESSIVE. It was insane when asked what I thought my income potential could be. I try to be modest, since I had ZERO prop trading or simulated experience. Said I could produce in-line with other peers with the same exp, maybe six figures after 1yr kinks were out. He REALLY wanted to hear that I'd make seven figure plus. You tell me if this is realistic for someone with no experience to make this after one year of solid training.

All and all, I was impressed with the place and try to stay in touch with my contact there. I would appreciate if others would share their experience with FNYS. I'd love to hear replies from employees that currently work there.

p.s. FNYS is now a client of my current firm!
 
FNYS is a beard for many pools of money.
Like a less intelligent SAC or 1 1/2 steps above WORLDCO!
They have a "decent" reputation as far as integrity is concerned.
You really need to be brought in by a partner that knows you, otherwise a waste of time.
 
Quote from Ebo:

FNYS is a beard for many pools of money.
Like a less intelligent SAC or 1 1/2 steps above WORLDCO!
They have a "decent" reputation as far as integrity is concerned.
You really need to be brought in by a partner that knows you, otherwise a waste of time.
More...

how many steps below SAC are they ?

it seems like they evolved into more sophisticated prop shop, office in london, domestic/international trading etc.

can someone comment on managing principles at FNYS? where did they earn their stripes?
 
I am persistent and would like another opportunity to work at FNYS. Here's the situation. I have an okay rapport with the person who interviewed me. I could tell he liked me, but prob thought I wasn't the exact fit at the time. Fast forward, a year later. I've been working on the NYSE and on an Agency desk upstairs for the last year. I've learned alot of the lingo and have aquired my S55 as well (also studying for CFA in spare time, don't ask why). Now, there are Sr. guys at my shop that have accts and relationships with a few traders at FNYS. They can attest that I'm an intelligent kid with a strong work ethic, and I think they would prob support me if I chose to pursue a career in prop. With the right approach, they might introduce me to their Traders at FNYS. That said, do you think it would be prudent to pursue these Traders who are clients of my firm, or should try again with the original Trader who interviewed me? My gut says to stick with the original person I met. Thanks in advance for the advice.
 
Quote from tbomb:

I am persistent and would like another opportunity to work at FNYS. Here's the situation. I have an okay rapport with the person who interviewed me. I could tell he liked me, but prob thought I wasn't the exact fit at the time. Fast forward, a year later. I've been working on the NYSE and on an Agency desk upstairs for the last year. I've learned alot of the lingo and have aquired my S55 as well (also studying for CFA in spare time, don't ask why). Now, there are Sr. guys at my shop that have accts and relationships with a few traders at FNYS. They can attest that I'm an intelligent kid with a strong work ethic, and I think they would prob support me if I chose to pursue a career in prop. With the right approach, they might introduce me to their Traders at FNYS. That said, do you think it would be prudent to pursue these Traders who are clients of my firm, or should try again with the original Trader who interviewed me? My gut says to stick with the original person I met. Thanks in advance for the advice.
More...

If you have NYSE experience, why would you even bother with FNYS? Thats a serious step down.

FNYS is nothing more than a prop firm that puts a little more investment in their traders, hence is more dependant on % of profits of their traders, a belief I agree with.

I interviewed with the President or whatever he is. He told me to get a year experience and call him after that. I know he was impressed but I was not Ivy League and my experience was a bit lacking comparing to most of their traders. Well I have more than a year experience now and if I go on a serious losing streak I will give him a call cause of the salary and the draw. Otherwise it would be a step down for me to go there.
 
OK, these are a few very smart people, who hire a very few people each year (I said "hire")...even by their own records only about a dozen or so.... and then they have alternative programs for others.

I reviewed them very carefully a few years ago, and again a few months ago (when they were purported to merge/join with someone we had dealings with)....

So, again FWIW, smart managers...and a good place to start kind of place....I respect their concept, they do teach and put their own money on the line (at least their partners/shareholders money...still a good thing)...

So, if you can take the salary, learn a few things...I say give them a shot....

Of course, after you are making money and want to keep your profits, call me.....but ONLY after you have fulfilled your commitments to them.

Please take this as a positive response...I re-read it, and it could be taken the wrong way...I don't want that...they are smart people.

Don
 
Think that FNY is trying hard to recruit grads from only top schools. That might explain the rejection for non-ivys. But having considered a role with them (and being an ivy grad), I wondered why I would want to join a prop shop with little upside.

But I agree with Don (Bright) that FNY has some very smart people, I just think that honestly good candidates will be making a big mistake joining FNY over a bank's flow desk as a learning experience.

When I was deciding between offers, I tried searching forums but couldn't find any useful info, so for anyone in the same situation, please PM me, I will give you the low down, pros and cons.
 
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