job choice help! Goldman Sachs or Trading Firm???

[murray t turtle]

Quote from Li Ka Shing:



Also by working in GS, u will come to know more intimate details of how big institutions work, and how the financial world works. How much will u learn in that small trading firm? Plus imagine the training, mentoring, resources/ equipment, other top-achiever peers.

Working in big organizations will give u many benefits. Especially since u are young, it's a great opportunity to soak up the learning and be in the right environment. Plus the money is also better right?

===============
Carl-111

1a] Dont give investment advice, but GS clears for one of my stock-option brokers, that is OXPS.

2b] Actually would also consider other brokers opionion, like ask Interactive Brokers opinion, & ask Don Bright public question;
since you are a POTENTIAL client for both . Both know more about market making in options than me.Learned a lot about coal, corn, soybeans steel gas/oil moves at a smaller company,mr Goldstein helped me more @ time than GS.

3c] Consider very much my/your Dad's ,Moms input even though was born in 1955;
because while most any job is better than no job,
Dad & Mom know I am better off working out of my home office.
Wisdom is profitable to direct.

 

[stock777]

1- It's a no brainer. You must be joking.

2- I would be suspect of someone that didn't create paragraphs when posting.

 

[lokkeilaw]

GS is

 

[deltaneutral]

Trading and IB require completely different skillsets.

Trading:
- yes, trading does require an aggressive nature and quick thinking, but today's professional derivatives trader also needs a strong IT and quantitative background. The latter qualities have become increasingly important in firms large enough to support the training program you describe.
- If the firm is a blue chip firm, like Susquehanna or Citadel, you should have little trouble getting into a top10 MBA program should you find that trading does not suit you. Places like Citadel in particular are far more selective than GS, and MBA admissions officers are aware of this.
- if you liked solving number puzzles and playing video games as a kid, you'll love trading. yes, the best derivatives traders are intensely competitive nerds.

IB:
- I have a couple friends in IB, and it seems to me that the qualities required of a good financial analyst are different from those of a MD-level investment banker.
- the lot of the financial analyst: you'll do 2 years of slavish number crunching before you are asked to leave.
- if you're lucky and willing enough to get back into GS after your MBA, you'll find that networking, socializing, and schmoozing become an ever increasing part of your workload. The top IBs know how to get the clients -- and they're paid for it. Sales skills are important even for the most nerdy number cruncher on the team.
- if you love the idea of rubbing shoulders with captains of industry, you'll love IB.

It's obvious to me that are enthralled by the concept of trading. Please keep in mind some issues concerning mobility between different sectors of finance:
1. Large, reputable trading firms prefer to hire at the undergrad level. Nobody fully understands how to identify raw trading talent in the inexperienced, so the policy is generally to hire young and mold.
2. If you don't like trading, get an MBA (you have great grades so this will never be a problem) and go into investment banking.
3. Traders disdain MBAs. IBs love them.

 

[Yellar]

GS if can handle the hours and expectation.

Trading Firm if you are less than 100% sure.

Overall a good position to be in.

 

[lwlee]

I just left GS this past month. I was in IT but decided I wanted to try daytrading the ES. I'd been in financial IT for 10+ years, before GS, it was Lehman.

I think you should go with GS. GS trading desk is one of the BEST on wall street. I heard rumors they had a killer January. Some of the top traders took home comp > 20mil.

So if one of your arguments against GS was that the other firm had better traders, forget about it.

edit: One thing, if the GS position is nontrading, that does change things. They will work you so you really won't have any time to study trading. Best of all world's is to work for GS in their trading department.

 

[skeweddude]

Quote from lwlee:

I just left GS this past month. I was in IT but decided I wanted to try daytrading the ES. I'd been in financial IT for 10+ years, before GS, it was Lehman.

I think you should go with GS. GS trading desk is one of the BEST on wall street. I heard rumors they had a killer January. Some of the top traders took home comp > 20mil.

So if one of your arguments against GS was that the other firm had better traders, forget about it.

What's the route to get to the GS trading desk, I realize the incredibly low probability, but since it was mentioned I was curious of the req pedigree? I was under the impression that it was quant/IT intensive and that an MBA would be a prereq? Did not think that undergrads were offered positions but since I dont work there I dont know for sure.

thanks, sd

 

[Lights]

I started in the I banking route, but then went into prop cos couldn't stand the environment and grunt workload. Now, I look to managed funds area in near future. Found that the prop route quicker to my goals, but I think I was fortunate to be around some good people. Think like someone said previously, it is function of your personality. I like trading in jeans.