Proprietary ("prop") trading is an industry that keeps itself under wraps and as a result, there has never been a great resource for candidates to learn about the industry and how to get past the interviews…. up until now!
Wall Street Oasis presents the first guide on breaking into the prop trading industry covering topics which include:
- What a prop firm is, what types of prop shops there are, and how prop trading differs from Sales & Trading at a bank
- The truth behind much-debated questions such as compensation, the failure rate, and exit opportunities
- How to structure your job search and figure out exactly what these firms are looking for
- Top tips on how to differentiate yourself from the competition in the interview room and actively work on getting that offer
- Key insight into what all great interview answers have in common
- Specific examples of common interview questions along with instruction on how to navigate your way through them (includes behaviorals, market knowledge questions, mental math questions, brainteasers, and Fermi problems)
This guide also includes 3 months access to the WSO Video Library ($99 value!) and 25 Prop Trading specific videos that go over sample answers and critical tips to get hired, including:
- The Single Most Important Piece of Interview Advice
- Top 5 Questions for You to Ask in Your prop trading interview
- How to Handle an Obvious Weakness like Low GPA
- 2 Sample Videos - "Tell Me About Yourself"
- How to Answer - "Why Prop Trading?"
- Culture of Prop Trading vs Sales & Trading
- Day in the Life - Discretionary Equity Prop Trader
- Day in the Life - Equity Index Options Market Maker
- Day in the Life - Oil Trader
- Day in the Life - Quant Trader
- Day in the Life - HFT Programmer
- How to Research a Firm for Fit & Culture
- plus more...
Not only do you get all of the above, but we also give you detailed profiles of some of the top prop shops as well as the most common interview questions each firm asks including:
- Chimera Securities
- DE Shaw
- DRW Trading
- First New York Securities
- KCG Holdings (Getco / Knight Capital Merger)
- Group 1 Trading
- Jane Street Capital
- BP - Integrated Supply & Trading (IST)
- Trillium
Anyone tried this guide? Care to comment? Thanks
It's a very good guide.. gives detailed description of the industry in layman's terms, the different types of firms, what they look for, and what type of questions to prepare for with respect to each firm.
Awesome interactive format as well.
Purchased this guide out of curiosity, having just broken into the industry a couple years ago. Everything in the guide is extremely accurate and helpful.... Had I been exposed to something like this a few years ago I have a feeling my search would have been significantly easier. Everything written about the firms is spot on, and the tips are all tips that would be incredibly helpful to someone trying to break into this industry. I definitely recommend this guide for anyone interested in pursuing prop trading, or even those who have recently broken in and are looking for guidance.
wow, thanks so much for the kind words! feels great after the work we put in :-)
I got this guide. Disclaimer: I'm a junior in college, at a school that sends rarely sends kids to prop trading firms. However, I learned a lot from the guide and got a great insight of the industry, what firms look for, and ways to prepare. Much more helpful than anything I could have gotten from my school.
Just landed a full time offer at a firm I really wanted to work for. Bought this guide back around September or so. Even though I knew a fair amount about the prop trading industry after years of own personal research, I still thought this guide was extremely comprehensive and acted as a fine supplement. I would highly encourage aspiring traders (geared towards people who aren't too familiar, but still great for anyone) to give this guide a go - coming from someone that's extremely stingy and looks for free pdfs ;)
Also just wanted to add that Patrick did a phenomenal job with interview advice. I think I was always a fairly qualified applicant for the job itself, but like many others, had certain weaknesses that held me back such as interviewing skills. Naturally, I heeded his advice, obviously integrated with my own practice and before I knew it, I was smiling with confidence throughout the entire interview.
tldr; very solid guide, would definitely recommend. thank you wso for your contribution!
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