Hey everyone,
I have an phone interview and math test for Belvedere Trading coming up in a few days. I just got an email about it today and have to complete everything within 3 days. I have been practicing mental math pretty frequently on Trader Test and have done some probability, market making, brain teasers as well. I am wondering if anyone has any insight as to what these things will be like. How challenging is the math test? How in depth is the interview?
Thanks
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What should I wear to a proprietary trading firm interview? (Originally Posted: 06/25/2015)
I have an interview with a top prop shop. Was wondering what to wear for dress code.
A suit?
Have you tried asking what the dress code is? Seriously, common sense isn't so common anymore. If it's really that intimidating wear a suit and adjust.
Suit and tie always.
Trading Interviews, namely for Prop Shops (Originally Posted: 01/21/2015)
Have had a number of first round interviews with some prop firms for market making, e.g. Optiver, TMG, Belvedere. I always feel unprepared for the probability, calc, and brainteaser questions. Do most successful candidates have foundations in these subjects so robust that they can easily answer the questions, or do most candidates study these types of questions prior to the interview, only for the interview?
I find the trading space to be extremely interesting and, I imagine, intellectually stimulating, which is why I am pursuing it, but I am having doubts creep in as to whether my education, (semi-target, finance) is too soft for market making..
Target/non-target doesn't matter, math is math.
If you have only a finance background, you are going to be at a disadvantage when it comes to those types of questions. However, like you said, you can definitely study up for them prior to the interview. Apart from the Optiver math test, which seems insane but you also can't really do much to prepare for it.
If you really want to trade, stick with it. Just keep studying up on the math/probability/statistics stuff beforehand.
Never had this issue. Granted, I was recruited based of a previous track record.
The good prop firms spend a reasonable amount of time tweaking their questions so they're not 100% the same year to year, as well as developing new ones. "Studying" only works if you actually understand the underlying concepts, as opposed to parroting a Glassdoor answer. That said, you can get pretty far on rote memorization but chances are you'll get exposed eventually.
The most successful kids I've seen at interviews typically did well in probability and statistics. You don't need to be a math major to understand Baye's rule and binomial coefficients.
Use those books
Heard on Street A Practical Guide To Quantitative Finance Interviews - Xinfeng Zhou Quant Job Interview Questions and Answers - Mark Joshi
They are pretty much enough to improve your knowledge those areas.
Algo Prop Trading fit interview phone - are these good answers? (Originally Posted: 10/17/2010)
Hello everyone. Following the advice from people on here regarding my CV (which got me an interview), I'm thinking setting out the bullets i have in my head for the main interview questions. I'm pretty concerned about the fit interview, logic brainteasers and numeracy I'm fine with, but these generic word answer questions can unsettle me.
So:
Why do you want to be an algo trader?
Why do you want to work for us? (secretive prop firm, nothing out their on the web about what they trade and their employees don't say a word).
Struggling on how to phrase this next bit - suggestions welcome!
Where do you want to be in 3 years time?
The remuneration policy is not quantified. Does not asking make me look uninterested? You can deduce they pay well, since revenue generated is quantified, and if they don't pay market rate they lose staff pretty sharpish.
How involved in my early day to day life is my mentor? Is it timetabled meetings? Questions as and when they arise?
Is there any sway in what markets I would trade in? Do I choose or am I placed until I have some experience?
Thoughts and critical feedback welcome. Also flag up the good bits, i'll be sure to emphasise those. Thanks in advance.
Regards T
Not too bad, although all of them are pretty generic answers. Try to be just a litle more creative so you stick out.
Online poker - Interviewing at prop shops (Originally Posted: 03/03/2008)
Anyone play? I used to play a while ago but cashed out- around the time I quit, there was some rumbling about getting and withdrawing money from poker accounts. What's the status on that now? Is Neteller etc. still an option or are there more steps required to deposit?
Come on, at least a few of you wannabe traders have to be playing, especially if you're interviewing for those prop shops.
I've started playing a little bit through Bodog (I had money in for some sports gambling). I haven't cashed out, but I had no problems getting money in.
Plus, the people who play there suck. I play low limits just to F around when I'm bored, but I have done fairly well.
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I also play on Bodog. Bodog's great and you can also use your cash for sports betting.
You guys aren't considering playing at the office, right?
I play on Absolute Poker and Full Tilt "sit & go" tournaments all the time and have not had an issue withdrawing money. I play live tournaments a few times a month and used to occassionally play at the Straddle Club in the city before the whole gunman fiasco.
The site where my college roommate and I used to play ran into some legal problems. Neither of us good withdraw our money. My roommate lost about $250, I only lost $50. I can't remember the name of the site exactly.
Hmm ok doesn't seem to be a problem with withdrawing... how about depositing? I closed down all my accounts so I need to set everything back up again.
screw bodog, everyone plays on fulltilt or pokerstars
with fulltilt u can deposit using any credit card. works great
good luck
i used to play a lot; 3/6- 5/10NL; had accounts on stars, party, pacific (oh god the fish), doylesroom, bodog were the main ones, didn't play much on fulltilt
had bankroll of 5 digits, still a bit underrolled for 1kmax; was active member of 2+2, used pokertraker, pokeroffice, student of sklansky...etc
neteller froze all accounts, took about 6th months and they released funds to all us customers; permanently shut down for us people. pretty much stopped playing since all the high end fish are gone, and its more difficult making good money at high stakes (though im sure low stakes are easy, i just can't go back after winning thousands a session)
yea im going into trading =)
since you say that you've played in msnl and was an active member of 2+2, i'm assuming that you have an above average understanding of the game and your skillset is def better. I'm kind of a lurker and such on 2+2, but have been thinking about getting serious about poker and voraciously reading 2+2 to get better.
but i'm also becoming an upperclassman and with no trading related internships, am getting worried if concentrating a good portion of time into poker is not worth it in the long run considering I could instead spend that time reading the wsj, barrons, and concentrating on my grades. would you honestly say it is worth it or is it just an excuse for gamblers to feel good about themselves
played tons before neteller got sued i believed fulltilt and pkstars are the ones to play on now
pkstars probably has better tourney play but fulltilt is more popular
Lets just say Poker stars has subsidized my education....
online poker is just not as fun as the real thing...
it is definitely not worth it to get into poker now. the poker craze is over, and i don't see legalized poker anytime soon within the US (i'm assuming you're in the US btw). if i spent half the time reading WSJ as i did playing poker i would be like 5x more knowledgeable than i am now. also, if you start playing poker you definitely get hooked, which could affect everything from your grades to friends...etc. trust me i'v e been through it and so has everyone on 2+2
poker didn't really affect my recruiting at all. i guess it got me a couple of second rounds when i mentioned it in first rounds, but never during a second round did i bring up poker (nor was it even on my resume). poker's fun and it's a good game to learn, but i wasn't even interested in finance at the time i was playing. if i was, i kinda wish i had got into forex trading. it's a lot of gambling, but at least then i would have somethign to talk about in my interviews.
I have used bodog for a few years now. I have deposited and withdrawn money recently (over the last three months) without any problems. You can use any major credit card to deposit without any problems. I am not quite sure how they do it though. I mentioned it to my credit card company once on an unrelated matter and they seemed shocked that I could use my account with them to fund my poker habit.
Warning on bodog though, it is good for lower money games but if you are looking for high stakes, look else where. If you just want to put $10-20 here or there though, there is no where better then bodog.
2nd rounds at prop firms (Originally Posted: 02/04/2009)
Can anyone shed some light on what to expect for 2nd rounds in summer internship recruiting at prop market makers (CTC/SIG)?
Probabilities bro...brush up big time
Prop Trading - Received invite for an interview (Originally Posted: 01/20/2010)
Hey, I just recently received an invite to a prop trading interview at a pretty reputable firm. I was just wondering if anyone had any advice on how to approach the interview/any sample questions I might be asked? Thanks
how you get the invite? Did you get it through connection or through online application? Is this FT or SA?
logic problem, brainteasers and mental math will figure strongly. If you provide more information on which firm you are interviewing with I think people on this board would be more open to answering your questions.
emphasize being a team player and don't be a dick in the interview. i agree with nst - sharpen up on your quantitative chops.
which prop shop?
this makes a difference
brainteasers. and generally being smart.
it really does depend on the shop imo
Recent grad trying to land interview at prop shop (Originally Posted: 12/02/2010)
Hey guys,
I've wanted to be a trader since sophomore year of college and haven't had much luck after applying to just about every prop shop out there. It's now 3 years later, I'm graduated and still hoping to get a job in trading. Currently employed in Asset Management and not liking it very much. Figured something was better than nothing in this job market. I've had a final round for a BB FI S&T desk and one at an equity options market maker and didn't land either. Besides those, can't even get a response to online resume submissions at 50 other prop shops I've applied to. Should I try to contact partners or HR people at these firms rather than going the typical route of online resume submission? Don't have much in the way of contacts and I know my networking needs improvement. Just desperately want to be a trader.
Any advice is appreciated.
http://www.razume.com/documents/17799
I know Optiver was laying off, I don't know about other firms. The name of the game in the prop market seems to be high freq/algo. take game theory off of interests...
I agree. It's tough for those of us who aren't programming savvy.
you gotta make those margins smaller and fit in more descriptions on your resume. i think my margins are like 0.2 or something
arbitrage/prop desks at BB? interview in a couple of hours (Originally Posted: 11/18/2011)
I have an interview later today for a arbitrage trading position at one of the bb banks. I thought that these desks had been marginalized since the crisis and am surprised that they were still recruiting.
I think i'll be grilled on technical and lol whatever happens will happen, I will just try my best. I'm honestly wondering about how viable these desks are with the new regulations. are the prop desks still in danger of being cut. and if someone does get an offer from them, is that offer secure.
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