Weird job offer. Need advice
Hey guys. I badly need some advice.
So I got an offer from a fund this week. I can't go into details, but the partner is super well-connected guy who managed to get a stake in some upcoming juicy ipo's. He just opened up a prop desk and plans to use that money to trade, with leverage of about 10:1. I was offered a job there to research/trade mostly commodity options and some equity options. Since the group only has about 5 people, and pre-leverage capital will be around $60 million, the potential upside is obviously huge. However, there is NO base salary. Compensation is based purely on trading pnl.
What do you guys think of this? Is it worth taking for the potential upside, or do you guys think it's a crappy deal? The founder is friends with virtually all the big-name hedge fund managers and big players in finnace. So I'm not quite ready yet to call it a "chop shop".
Thanks.
since you don't directly deal with the trade, you can simply rely on the pros to handle the pnl thing. if this is a school-year internship, i'd take it without a question.
Sounds pretty cool - but is this for an internship, or FT offer? Might be risky to start your career there full-time.
if this is the only thing u have then yea id take it. esp if its an internship or even your first job, it might be really lucrative, if not you will learn a good bit. gl.
I'm an experienced hire. I have a few other interviews right now, but this is my first offer after leaving my previous job.
I would actually be trading commodity options, but the equity options hedging strategy will be what i'll be working on initially, for about a month or so.
There's a guy who trades highly volatile tech stocks, and he wants me to help him with hedging and risk management. Then, after passing the series 3 in about a month, he wants me to trade commodity options because he sees a lot of opportunity there.
v what he said
you should only care about your training. That is worth more than its weight in gold. PnL will come with that.
You'd be stupid to not take this. You only live once, unless you have a serious press for cash I'd take this hands down over anything else. Look at your possible outcomes: A) The shop/fund/whatever you want to call it succeds and you get paid B) The fund fails, but you have just expanded your network tremendously C) If things don't work out and you're strapped for cash, you can be honest and any normal person would understand
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