Trillium Trading
What is everyones thoughts on Trillium? Whats the starting salary for a junior? Assuming most of the pay is in bonus based on performance?
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Interned at Trillium and received the full time offer but not returning. Starting pay is $40k as an Trader and you get to keep a large chunk of the profits you make (blanking out on the exact number). You most probably won't be profitable during the first 2 years and will have to live off the base itself. Once you start becoming really good that's when the upside comes in and there's no limit (I remember Trader's being up 7 figures when I was working there). Beware though, the turnover is really high and people don't usually make it past the two years and thats when they get cut from the firm. You are essentially without a job and with a very niche skillset that cannot be transferred to other roles. So it's very high risk high reward job. Let me know if you have any more questions.
Thank you, much appreciated! Also interviewing at SIG, so do you think thats a better gig?
Yes
Would definitely take SIG given the choice. Better in almost all if not all aspects compared to Trillium. Location might be an issue for some people (Philly) but you can very realistically exit to other quant trading firms or quant heavy BB desks in NYC or CHI
The biggest part about what you said is "essentially without a job with a very niche skillset that cannot be transferred" this is the main downside of Trillium being a discretionary equity only prop shop. I was told they're starting to develop some quantitative desks which might help you learn Python/Data Analytics, but unless you're a market-maker/familiar with algo trading the skills you're going to be left with if you get cut won't get you into any other firms and won't even be transferrable to S&T. Nobody wants a failed equity trader who only knows TA, you might as well be a wallstreetbets trader.
Trillium sucks for new grads don’t even bother. SIG is a legitimate shop.
Joke company base is 40-45k. Interviewed there and got cut for my GPA. Ended up taking a significantly higher tier Prop Shop offer that was more interested in my side projects and pays significantly higher and is much more quantitative than discretionary (Thankful for firms like Flow, Optiver, SIG etc. who will pretty much give anyone the 1st round and it's up to you to prove yourself after). Trillium guys in NYC had a pretty terrible attitude during the interviews as well - as soon as they heard my GPA you could tell they immediately were just looking for the next candidates, but if you're going to be that selective don't be surprised when the talent your searching for goes to an actual trading firm. Cary (recruiter) and the Miami guys were cool but Dan the NYC guy was a dick - also if they ask for your opinion on cryptocurrency make sure you laugh at it and say it's a joke because that's what their Head Trader thinks lol. If you have any questions I can run you through the entire interview process, but I'd take literally any other shop than them, even if it's a "lower-tier" shop. If you can make it in a prop shop you have pretty much unlimited upside if you're good so I'd be searching for the best place to learn and improve - which most definitely will not be a discretionary equity trading firm. They used to send out opportunities to our campus but after I took over the two largest trading organizations on our campus can't wait to cut that tie since it does nothing but hurt our members who are genuinely interested in new graduate proprietary trading/quant research roles.
Am I salty I got cut for the internship? Yes. Am I salty after accepting an offer paying 3x+ base with a name-brand firm? No. However biased I may be, I'm sure many will agree that the salary is incredibly low and that a discretionary equity trading shop will not build the translatable skills and relationships needed to pivot to another shop if you're unsuccessful, and utilizing TA trading equities will completely silo you into the dying discretionary trading roles (most are hybrid/quant now). SIG has an amazing trader education program and is known for culling some of the best and brightest talent from top universities. SIG specializes in ETF arbitrage (similar to Jane St. and Flow Traders) and will set you up for a great career in trading with translatable skills and talent that can pivot to most other prop firms.
To expand upon the top comment I believe it was 40/45% profits after making X amount or something within a year? You start with a 400K account and are only allowed to trade equities and any losses you incur will eat into your bonus. Let's say you make 40K on your 400K account I believe you're taking home 16K that month which is awesome. However, if you lose any that month I believe you're in the hole and need to make it back? Don't quote me on that, but compared to the skillset you develop at a more quantitative/hft/Algo oriented shop as well as the fact that you have an awesome base salary + a bonus that is essentially profit sharing on a desk and not just based on individual performance at all should really click. During the interview some of the recruiters did talk about their traders trading GameStop and AMC during the boom and taking home massive profits, then again I'm sure those at options MM's and other prop firms were taking in a killing based on how vols were trading on those names a while back.
Disclaimer about the above: I had gone into detail about the profit split and setup with one of their traders as well as the recruiter but might have gotten some of the details split up because I'm sure once you're successful they start allocating more capital and scaling up your profit share.
Hi, currently interested in Prop positions. I’m a junior in college recruiting for full time as I am also graduating this year (high school credits ended up paying off lol). Can you dm me some better alternatives besides the ones you mentioned in the NYC area? I’m not looking for extremely quant-based one. Thank you :)
Sure shoot me over a message. For NYC you typically have Mega Quant haha. Hrt, jump, Jane, citsec (nyc office). I’d open up and branch out to Chicago too and you’d be able to look at places like Optiver or Akuna. Neither of them tested me on coding knowledge and I assume that’s what you mean - which firms don’t test programming knowledge or only target MIT IMO champions
Is this firm basically... a bunch of day traders? Do they watch candlesticks?
Yeah, dogshit firm. If you look up to forex traders on insta selling courses maybe this is in-line with the work.
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