join Group One / DRW Trading Group or Goldman as i-banking analyst?

[nicholaf]

Quote from tokyotrader:

It's late but I just got back from a trip and this thread caught my attention.

I skimmed most of the posts and while it is hard to believe you have these offers, assuming you do I think the others are right in that you should take Goldman.

You don't really sound sure about yourself and what you want to do with your life. You make a few references to making big bucks down the road so I imagine you are like most typical college juniors and seniors who think top tier banks and hedge funds are the end-all be-all.

You ask if you will be good at trading and tell us that you scored 800 on Math SAT. Trust me, this means nothing, although it does get recruiters to ask you about it in an interview(shameless firsthand experience). You don't sound like you have a genuine passion for trading so don't do it. Your passion sounds like it's about prestige and making money. If that is what you want, you stand a much better chance of achieving this by going to Goldman as an ibanking analyst.

You might change your feelings about this and discover yourself more with experience. I did.

Good luck.

Lol. its late and i'm running monte carlo sims in matlab. this thread is a good diversion

 

[carl1111]

Nicolaf- I think I agree with most of what you are saying. However, this trading firm is not some prop shop. They train you well for 12 months (rotating program through their trading team and information team), pay you a competitive salary and bonus. Also, the firm is a market-taking firm. Because they are not huge, I think they can continue to exploit inefficiencies in options prices. But like you said, I agree that my opportunities are way above what most posters here have available. Most posters here could not even get in to a crappy prop shop where they require a capital outlay and barely train you.

 

[cvds16]

Lot's of things here being said are true, like some people said, it's also basically a life-style choice. What is your personality, who are you, what kind of life do you want to lead ?
I have a brother who is an investment banker in London for CSFB, he has a totally different personality from me. I really love trading, he would hate it. He would be totally stressed out of just the idea of doing this. I would never want to lead his life: when I call him at 9 or even 10 pm he is still at his job most of the time, a lot of times when he is not he is somewhere off in Europe investigating some deals, even in the weekends he's busy for his work a lot. He makes good money, but he sure has to pay a price. Three years ago the last three weeks of the year, he only saw his wife when she was allready sleeping in bed and when he woke up she was allready gone off to work. It's just very hard, you need a to be prepared to sacrifice a lot.
I spent a lot of my waking time thinking about trading, preparing, investigating ... but to me it's a kind of hobby, leading his life would be hell to me. Even though at this moment I'm kind of stuck (long story: I used to be a mm in options and for lots of personal reasons started trading on my own, but that kind of trading seems to have vanished now the spreads have become to small and I'm trying to reinvent myself as a trader) I would not want to change my life for his.

 

[WAWTU31]

Quote from nicholaf:

Lol. its late and i'm running monte carlo sims in matlab. this thread is a good diversion

how much does it cost to uses MATLAB?

I would chose GS just because very few people get the chance to play with the #1 team in Land.

 

[prt_systems]

This entire thread does not ring true. Anyone with half a brain that has the credentials listed by the original poster would not be here asking for this type of information: In fact, if this was a real story and they did come here asking for advice then they clearly dont have the right stuff to be at goldman .....

 

[pepper_john]

Quote from cvds16:

Lot's of things here being said are true, like some people said, it's also basically a life-style choice. What is your personality, who are you, what kind of life do you want to lead ?

I completely agree. Personally I found the pressure from trading is much less from office politics.

 

[WAWTU31]

how much does it cost to uses MATLAB?

 

[Randek]

Quote from Hydroblunt:

I know it's hard to understand but Trading Desk is totally different from Investment Banking Division. Once you get that through your head, your criticisms will have some relevance cause you're talking out of your a$$. Regarding Lehman trading desk, I was far from the only one affected negatively during the hiring freeze of 2002, it was just bad luck for our whole graduating class and yeah it sucks and I was very upset & bitter like any other person would have been.

As for my negative overall attitude toward the IB industry, it's a larger deeper viewpoint that your small brain could not comprehend. Your retarded analogy holds no weight against the conversations I've had with numerous associates.
I can see 90% of ET could never get it through their head either so I will just drop it, concede defeat and let the morons celebrate their internet victory. If want some info and tips regarding entering IB that I wish I had just 1-2 years earlier to when I started working at UBS, send me a PM.

P.S. It's not called "graphics artist" but whatever the title you wanna choose I was still making as a senior in college than you do with your current paper trading. It's a skill set with which I can get a cushy job within a month that pays more than 90% of the self traders out there.

Let's be real for a moment, piker.

The reason you're not in an investment banker is not because you choose not to be there.

The reason you're not in an investment bank is because NOBODY WANTED YOU!

And for your information, Sales and Trading is at an i-bank; it's just another division. You desperately wanted to be at Lehman, but they didn't want you.

And why were you surprised? You're just a lowly graphics artist boy, which is even below front office operations. It's amusing that you've only done Powerpoint work but already felt burnt out from doing simple tasks. Were you upset that you actually had to do work and had no time to smoke weed? Did you whine about having to do homework in school as well?? You're such a pussy.

It's obviously you're only trading because you got REJECTED from all your other job applications, but you should be thankful because your lazy kind usually ends up working in the deli or grocery store.

But just keep on talking down the jobs that you never ever had a chance for. Just do that to make you feel better about yourself.

LMAO

 

[buzzy2]

Hydroblunt might be a loser, but working at an I-bank still sucks.

But I recommend it 100% if you need quick bucks and have zero trading skills.

 

[WAWTU31]

Quote from Randek:


But you wouldn't know because you're just a lowly graphics artist boy, which is even below front office operations.

As a front office operations person I take exception to you insulting my profession like this I mean its not like I f**king flip burgers dude! I mark trades to market, clear them and monitor my traders risk level.


**SWIPE!