Starting Salaries at Chicago Prop Trading Shops

I interviewed with one, didnt get the offer

from what I gleaned, the first 2 years you are a trading assistant, so you don't get to partake as much in the profits.

I would guess 50-55k base + some sort of bonus- not as much as IB

once you are an actual trader you start making much more

What is the turnover rate for those assistant traders in Chicago after 2 years?

that's a good question

i've heard about prop shops that will fire you after just a few days as trading assistant if you can't learn quickly enough

that being said, they aren't churn and burn boiler rooms where they hire 100 people and only end up keeping 10

they only hire people who they think will be a good fit for the long run

Top shops in Chicago pay along the lines of what BB's do. Bonuses are probably smaller for the first year, after that it's all dependent on you. If you're good, you will make more from prop.

Also, the whole prop shops will fire you in 5 days thing, I don't think that really applies to the top shops. Those guys will train you for 6 months-1 year before they let you start trading. They invest a significant amount in you. They're not going to let you go because you had a bad first week. For some of the chop shops, I wouldn't be surprised if that was the case

How about now in 2014? (if anyone even notices a thread from 4 years ago)