Quote from EMRGLOBAL:
A prudent man keeps his knowledge to himself, but the heart of fools blurts out folly"
Foking brillant mate.More "proverbs from the wise" I assume.
:eek:
Top 20 MBA Graduate, who wants to hire me (NYC)?
- Thread starter EliteTraderNYC
- Start date
:eek:
soooo you have it all going for you.......undergrad degree...........mba from top school.........superior GPA................. high standardized test scores..........background in IT and equity research..........yet the one thing you lack is the COMMON SENSE to not fall for the prop chop scams..........those are not real 'jobs'.
hate to be harsh but just trying to save you lots of tears and heartache down the road......good luck.
Chewbacca is totally right.
I often think these posts about MBA wannabe prop traders are posted by the scam style prop firms themselves so that they can create some appeal amongst clueless University grads and those not in the school system but desiring a job in trading nonetheless.
I believe a certain Canadian prop firm appeared on my television one day last year on the business channel, with the quarterback of the University of Toronto football team. Apparently he was in the process of conquering the worlds stock futures Markets on no less than $100 stop loss for the whole trading day. Yes, I said $100 stop loss. Apparently he too was in the process of completing his business degree....
Z - I dont know if we are humouring each other with Rogers, I just recall him using the number of newly minted MBAs flying in planes around the World as a contrary signal to sell the Market when all the buyout industry started to collapse early this year.
I often think these posts about MBA wannabe prop traders are posted by the scam style prop firms themselves so that they can create some appeal amongst clueless University grads and those not in the school system but desiring a job in trading nonetheless.
I believe a certain Canadian prop firm appeared on my television one day last year on the business channel, with the quarterback of the University of Toronto football team. Apparently he was in the process of conquering the worlds stock futures Markets on no less than $100 stop loss for the whole trading day. Yes, I said $100 stop loss. Apparently he too was in the process of completing his business degree....
Z - I dont know if we are humouring each other with Rogers, I just recall him using the number of newly minted MBAs flying in planes around the World as a contrary signal to sell the Market when all the buyout industry started to collapse early this year.
An mba is still a great degree for finance if you are at the right program. The best programs today allow such specialization in finance that is essentially almost 2 years of study in applied finance. To wrap this up: Surf, you are flat out wrong, and the reason is that you are viewing it as a generic degree without differentation.
We don't know much about the guy in this case, but I agree with what most have been saying here: If u do indeed have a decent mba, there are much better doors to be opening than prop trading.
We don't know much about the guy in this case, but I agree with what most have been saying here: If u do indeed have a decent mba, there are much better doors to be opening than prop trading.
Quote from EMRGLOBAL:
lol, yeah yeah, (hey there is a band called the Yeah yeah's), my spelling sukx.
"People who joins prop firm mostly wants to trade on their own - live & die by their own actions and enjoy the freedom that comes with it. "
LOL...so your gona be a big roller putting up 5k to trade huh?
Or even a bigger dog using all firm capital? (not sure if those firms exist anymore. )
Your gona trade like the 'Big Dogs' with 5K including your leverage and have all the freedom that comes with "PROP".
LOL, you'r correct. I know nothing about prop trading.
What are you talking about?
First off i was responding to the OP not you. Second you quoting me and the response makes no sense. I was questioning why he wants to join a prop firm right after receiving an mba.
Getting an MBA and joining a prop firm are 2 completely different career paths.
Sometimes i really wonder how people supposely good at trading can really be this retarded.
Again you are missing the point of my post. And yes working at GS or any IB is much more stable than joining a prop firm and daytrade with your own money. At least for most people starting out.
Man, i really dont know what the fuk you are talking about. Try to comprehend what people are saying first before respond with nonsense
Thanks for the advice about GS and other IB trading desks. You were right on target. I WAS interviewed by GS, other IBs, and some other top hedge funds in town. However, GS and most top hedge funds interview 10-20 candidates for one position and most of the candidates are from a place like MIT or Wharton. You could easily get dinged and end up stuck in no man's land like I did.
I think going through the prop firm route, you can still learn a lot. That's the path I took.
Most of these institutional types don't know how to trade... ex: When Genius Failed etc etc..
Those that are hugely successful traders, read: PTJ, me etc have had a independent trading route to greatnes..
I would make sure you can trade well first and then worry about the rest later. In this business unless you just want to work for goldman, merrill, etc at any position (secretary, janitor,etc) you better be able to trade and trade well.
To be honest your "top 20 mba graduate degree" isn't going to mean a damn thing in this biz. While your busy boasting about that big degree you have, a guy with a 3 day old beard sitting at his computer in his pajamas is busy taking your money! Its just the way this industry works.
If you can already trade well now then good for you and you will likely go far in this industry but if you are just relying on that degree to get you into a top trading job then you are sadly mistaken.
Regardless I wish you the best!
To be honest your "top 20 mba graduate degree" isn't going to mean a damn thing in this biz. While your busy boasting about that big degree you have, a guy with a 3 day old beard sitting at his computer in his pajamas is busy taking your money! Its just the way this industry works.
If you can already trade well now then good for you and you will likely go far in this industry but if you are just relying on that degree to get you into a top trading job then you are sadly mistaken.
Regardless I wish you the best!