For guys at Schony, Trillium, Opus, Hold, or institutional traders

Quote from FaderTrader:

You are probably correct. I was not speaking from experience as I've never work at Schonfeld. Nonetheless, to the creator of this thread in search of a trading job - if you are going to go prop make sure you are clear about your strategy and that you have VERY CLEAR assurance that you can execute your trades in the way you explain to them.
More...


The most important aspect when joining a prop firm is that they have sufficient capital to trade and give you enough downside/room to trade. Unfortuneatly a lot of prop firms are terrified of risk.
 
Quote from Tide31:

SwingOut,
The only thing I'd change on your Resume is the Objective. I would just take it out. You could change it for every job, or just leave the first six words.
The most impressive thing on it is Berklee. For those that don't know, Berklee is to the Music biz what Harvard/Stanford are to Finance from what I've heard. It's stuff like Berklee that get you into an interview. The only thing more impressive to a Wall Street manager, would be something like you were a Lacrosse star in college, thats a sure interview with a lot of lacrosse gurus. A guy bright enough to get into and get a degree from Berklee wants to change gears and trade. I'd interview you myself but we're not hiring. - 20 years inst. prop at bulge bracket firm.
The fact that you had the balls to put it all out on here tells me that you are going to find something you like. I was hired for my first prop job because I was asked in an interview why I wanted to come to work there and replied " so I can make millions!" - Good Luck!
More...

Thanks. Smoke blowing aside, your words are well taken. I'll see what I can find in the alumni database.

Quote from tomcole:

You should play on the Berk connection, looking for an IB who went there and you can convince your MBA is worth something. I have a very good friend who went to Julliard and then got a job at an IB, working in the High Net Worth group, with musicians etc. Great job, he loved it and got to do what he wanted and hang out with people he truly liked.

Private bankers to the wealthy make great salaries, have great benefits and its a lot less stressful than trading.
More...

I've always thought that most other people think musicians are flakey!

Quote from EPrado:

The most important aspect when joining a prop firm is that they have sufficient capital to trade and give you enough downside/room to trade. Unfortuneatly a lot of prop firms are terrified of risk.
More...

This is exactly the reason I'm trying to get into a firm that pays salary during training. Hopefully they feel that their firm's trades are less risky because they attract the best guys, thus their aversion to risk is controlled by market intelligence - at least in theory.
 
I have spoken to a guy (though a mutual friend) who has worked at Trillium for about a year. He has yet to show a profit and they do pay a meager salary (about 500/week). He was recruited by a profitable trader there who he grew up with. He is also quite a good poker player (was making a living online b/f joining Trillium).

I will say this: after speaking w/ him for an hour or so I realized that if you don't do your own research re: the current trading landscape, you might be screwed. He scalps Naz b/c that's what his mentor has been doing for 5 years and seems to know nothing else about trading. Used phrases like "state of the art" stock-choosing software, great rates (.003)/share(?), and that training was basically non-existent.

Also, they are interested in young guys RIGHT out of college unless a profitable trader there vouches for you.

Things have changed so much in the last 3-4 years, and this type of deal, while once great, seems like a joke to me.
 
I told you they are a joke before. No firm teaches you how to trade anyway for the most part. It’s all scalping day traders. The .003 is good but the split is what’s bad. They only take new guys because they don’t know what’s really out there. They will say new guys have a clean slate but it’s really easier to make money of a new guy then an old guy because you can charge more. The .003 is good but remember people get that on 100% payout they don’t even give 50% payout. The $500 a week seems very fare though. Its a draw not a salary just remember that.
 
I have talked to Trillium and everything is pretty much the same as what Stereo70 has said except they do pay a salary for 1 year, and then it becomes a draw.

-CTT
 
You must log in or register to reply here.
Back
Top