Small HF vs MO BB vs Prop Trading
Hi,
Currently at small HF (think offer for BB MO - Treasury in a role that would involve funding execution as well as forecasting and risk management. (Higher pay)
I have an offer for junior prop trading role on a futures desk at a prop shop, that aims to have you in a full trading role within the first year. (Middle pay & performance related pay)
I'd be interested to hear the view of each of these different paths as they are completely different and I'm at a bit of a loss of what I want to do with my career.
Thanks!
A very fair comparison. I'm kindda in the midst of a decision myself, without the Treasury MO.
Given that I probably like my HF a little more than you, at least basing on how you said you're paid very low, I'm inclined to stay in the HF. But it's close 60% stay / 40% prop shop.
And the reason for this is because of what many say - the road to PM is long so stick it out, do whatever needs help and money will come your way.
Basically, if staying in this small HF inches you closer to the money, be it actual allocation of $5m of the $100m or being a part of the strategy formulation process, stay. If not, prop shop.
Quick anecdote: I was tasked to do VBA for 6 months at my HF before I was on the alpha generating side of things. Sometimes these managers just want to see whether you'll stay.
Hi am a FX trader trader with talent to produce high returns. My last 3 months alone i produced 753% ROI. Can i utilize this talent to get a career started in hedge fund industry? I recently got laid off 1 month ago from a banking compliance role (they opted for consultants) Any advice, will be appreciated. Thanks
open a trading account at interactive brokers, and try to make $$ trading. If you do well, IB has a great stats summary of your account (risk #'s like Sharpe, Sortino etc...plus a daily P&L chart), which you can use to market yourself. Anything else, and noboby will believe you.
Also, start a twitter account, and publish your trades in realtime while interacting with others on FinTwit...this is another good marketing idea...and can help you get interviews.
why interactive brokers? i already have a metatrader 4 based broker giving same statistics as Interactive Brokers. So ya market myself sounds good. Twitter account idea sounds nice fintwit, will check it out. I have been contacting hedgefunds with my stats and they seem to not care. It is likely because they think i am lying or they are not engage in FX trading in their business models or could be regulatory reasons.
i haven't used MetaTrader...i just know that IB gives access to more international markets than i've seen at other brokers, and you can use IB to host your managed accounts....so you can start to manage money on the platform for friends & family, even before you are a registered manager.
Regarding fintwit (financial twitter)...there are a few thousand people/traders on twitter who are pretty active. Posting trade ideas, commentary, etc..and if you are consistently active and accumulate a following over time, you will find people that have pretty good connections (some bank sales traders, a handful of hedge fund traders, lots of retired hedge fund guys and retired traders). Its a good network to have.
Do you want to run money?
Yes, talk to your current fund and see if you can work to getting an allocation. If you can't, go to prop shop and run money. No, do whatever you want.
I talk w PM sourcers at BAM, .72, Visium and other multi manager platforms. Common misconception on the internet is the following: you can't move from a prop shop/Smal HF to a bigger platform. Truth is this: You run money, you make money, and your strat is scalable, you can move to a bigger platform.
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