Well thought out post sean, best of luck to you, I interned for Legg Mason at one of their Branches, it was a great experience for me although at times i really felt my branch was lacking in applying the available technology. Those major banks are going to be very competitive but a 3.95 at UC doesnt sound bad at all. I have no idea of their econ program but its a recognizable name which is good.
Summer Internship Prop Trading
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You never know. Your SAT score is abysmal and banks frequently use that to cull their applicant pool. Everything else is very solid--demonstrated interest in trading, a quant bent, high GPA. I'd recommend trying to find some alums from UC to network with and get some ideas from them. Those corporate career sites are like black holes. It seems like you have favorable intangibles. If anyone questions what happened in high school tell them that you were a late bloomer.
Forget a prop trading desk job at a bank. Worry about that when you've logged 2-4 years of experience and can generate profits.
Other banks are Deutsche Bank, Bear Stearns, Credit Suisse, Wells Fargo, Wachovia, and Barclays to name a few more. Don't forget to look at local places live Fifth Third Asset Management in Cincinnati. Cast your net widely and you might catch something.
Good luck and be proactive!
Forget a prop trading desk job at a bank. Worry about that when you've logged 2-4 years of experience and can generate profits.
Other banks are Deutsche Bank, Bear Stearns, Credit Suisse, Wells Fargo, Wachovia, and Barclays to name a few more. Don't forget to look at local places live Fifth Third Asset Management in Cincinnati. Cast your net widely and you might catch something.
Good luck and be proactive!
hi... i'm a sophomore in college really looking to break into prop trading at a BB after I graduate. a lot of you guys seem to carry really great advice but I have some specific questions about ideas to break into trading.
as i mentioned, i'm in my second year in college and at the us news #1 liberal arts college in the united states.
I have a 3.8/4.0 gpa, 1500/1600 SAT, heavily involved in extracurriculars (some of which need skills which I can articulate why they relate to trading), but no experience on wall street or any financial firms for that matter.
my questions are:
1. what summer experiences/internships as an assistant trader or broker will I, as a sophomore in college, be able to find in New York? -- paid or unpaid, whatever.
2. reading about patrick.bateman's experiences, I should ask: where should I look, or who should I talk to, specifically, to find summer opportunities at small NY brokerage firms or hedge funds?
I'm really fascinated by the capital markets, bond math, and trading. but the track to a prop trader, not coming from an engineering or mba program, seems obscure and cloudy...
as i mentioned, i'm in my second year in college and at the us news #1 liberal arts college in the united states.
I have a 3.8/4.0 gpa, 1500/1600 SAT, heavily involved in extracurriculars (some of which need skills which I can articulate why they relate to trading), but no experience on wall street or any financial firms for that matter.
my questions are:
1. what summer experiences/internships as an assistant trader or broker will I, as a sophomore in college, be able to find in New York? -- paid or unpaid, whatever.
2. reading about patrick.bateman's experiences, I should ask: where should I look, or who should I talk to, specifically, to find summer opportunities at small NY brokerage firms or hedge funds?
I'm really fascinated by the capital markets, bond math, and trading. but the track to a prop trader, not coming from an engineering or mba program, seems obscure and cloudy...
Thanks bigbrent. I've looked at some local branches, but the ones in Cincinnati--namely, Morgan Stanley & Merrill--are little more than financial advising shops. I am looking to be out on the front lines per se, trading @ the turrets. But, of course, whether I can get there--well we'll just see.
Your words are encouraging. UC's economics department has its shimmers--a few professors and their research--but overall is like that of many public universities. I fear that it will be lackluster relative to the Ivy Leage competition.
We'll just see tho.
thanks for the ideas Dram.
On the SAT:
If they don't ask, think I can get away without telling? I plan on keeping it off the resume; in fact, most my age think it's preposterous to include it. Oh, how little they know of the probing nature of the world's top banks.
Thanks too for the additional companies. I knew I was forgeting a few banks.
Yeh I looked at some prop shop web-sites such as Bright Trading. Didn't realize how much you're truly on your own in a place like that. I want something where ppl are showing me the way. Knowledge is what it's all about as we all know.
5/3rd I'll def consider. They're a major player around here.
Insofar as connections, around alum & the like, I've got some but not what I'd like. The big cheese of alums here @ UC is indeed a retired Senior Partner of Goldman, and he's encouraged me to apply, but I have yet to snuggle in well enough to get a reference or something similar. So I don't know how likely that'd be.
I had dinner w. the Market Area President of US Bank. While at first a very impressive guy, I learned through the meal that he truly is a retail banker and little more--not to knowledgeable w. the markets. He did mention some currency trading oppurtunities in St. Louis, but I kind of have my heart set on NY, Chicago, or Boston perhaps.
I should mention too that my uncle is a lawyer in Hawaii. Some powerful clients of him, with whom I dined last year, have already offered me an internship for the summer. Unpaid. My only qualm is they are truly in real-estate investment--flipping hotels in Hawaii, Asia, and the like. Nonetheless, these guys I met were the principals of the firm--each with about 20 million of their own cash invested in there company. It was, at the time, a hugely tempting offer.
They've gone so far as to brag that they're investment banking service is none other than Goldman--hinting that i might find myself across the table from these boys.
IDK tho. Recently, I've been more convinced that I should do something IN trading. Not close to trading.
Nonetheless, that, at the moment, is my "flight to safety" as we'd call it.
Thanks for all the replies guys.
Sincerely,
Sean
I went to college with a kid who's dad went to Cincy and is now running a large and long established private equity shop in NYC or Greenwich. I don't remember the name of the company, but his last name is Hartong. He was a kicker at Cincy that brought the soccer style kick to football. He has to be one of the most prominent alumni and would definitely be someone you would want to contact.
!!! WOW !!!
I know Hank Hartong. He came and spoke. Yes, he's running a PE group out of Conn. now. Clearly doing very well.
Had a nice conversation with him. Might want to think abou e-mailing him. Mostly I've been staying away from P.E., focusing more on trading-oriented / market making positions.
But would never hurt!!
TY
As an update on myself also, I have applied to around 20 places and explored options through my 5 or so personal contacts and ive only gotten interest from 1 firm. This firm is quite legit and im excited and hopefully get a chance to intern there and learn from their traders.