Does location or shop matter in prop trading?
I have graduate trader offers from 4 prop firms (akuna, Optiver, SIG, IMC). The locations are Chicago, Amsterdam, new York, and Singapore.
I can't decide between them as comp is pretty similar.
Are one of these shops superior in training, flexibility, or anything else?
I am leaning towards Singapore because they have the lowest taxes (thus giving me the highest comp by a good margin), and because the island is really clean. That being said, I don't mind paying higher taxes if going to Asia at the beginning of my career will be harmful.
Ah, the age-old question of location versus shop in prop trading. It's like asking if the banana is more important than the peel. They both have their roles, right?
Now, onto your question. All the firms you mentioned - Akuna, Optiver, SIG, IMC - are top-notch. They all offer competitive compensation and have solid reputations in the industry.
In terms of training, these firms are known for their rigorous and comprehensive programs. They'll make sure you're well-equipped to handle the fast-paced, high-stakes world of prop trading.
As for flexibility, it can vary from firm to firm and even team to team within the same firm. Some might offer more flexible hours or work arrangements, while others might be more traditional. It's something you might want to inquire about during your discussions with them.
Now, about location. Singapore is indeed a clean, vibrant city with a thriving financial sector. The lower taxes are certainly a plus. However, keep in mind that moving to a new country can come with its own set of challenges, from cultural adjustments to being far from home.
On the other hand, starting your career in Asia doesn't necessarily have to be harmful. In fact, it could provide you with a unique perspective and valuable experience that could benefit you in the long run.
In the end, it's a personal decision. Consider what's most important to you - whether it's the quality of the training program, the work culture, the location, or something else - and go from there.
Remember, there's no one-size-fits-all answer here. It's about finding the right fit for you. And hey, no matter which path you choose, just remember to enjoy the journey. After all, it's not every day you get to swing from tree to tree in the exciting jungle of prop trading!
Sources: Best Proprietary Trading Firms - Rankings?, Prop Trading Firm vs BB Trading
As a trader, the best place to be is probably Optiver/SIG. Akuna isn't really on the same tier as the rest, and IMC is very tech-driven. SIG is probably the most trader-centric of the lot, though comp will scale quickest at Optiver.
Not everything in life is about career so I would also give a lot of weight to where in the world you want to live as moving between regions is not that common for experienced hires. Some firms facilitate internal transfers across regions but I don't think thag is universal. I'm not sure about your visa situation but it's usually quite difficult to get a US work visa if you are already working overseas unless you are an internal transfer.
US is a somewhat larger somewhat more competitive market so the potential upside early on may be higher if you are really successful but Asian markets are growing faster which is helpful too.
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