A decent number of prop shops provide training for the incoming junior traders. Which firms do you guys think offer the best training? I've heard great things about DRW (classes, very thorough immersion in fixed income markets).
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Training program at SMB Capital is top notch.
^^I can't tell if you're joking about SMB Capital or not haha
Not joking, but UBS is known to have excellent grad training.
SIG's training program is extremely good. 3 times weekly classes and you're not fetching coffee during work either - you're learning a ton. DRW/Jane Street are similar.
In comparison Optiver/IMC/Jump train their hires for a much shorter period of time, then you're on your own. You can potentially start earning large sums earlier, but it's definitely more stressful and the probability of getting fired is higher.
Would second SIG's training. Classes used to meet twice a week when I was there, but I've heard they increased it to 3x in 08.
I thought DRW training consists of just going over the Hull book? Or is there a lot more to it?
I know at Citadel, they bring in professors from Booth and Kellogg to teach classes for the analysts.
I heard that IMC trains you in Amsterdam, which is where their headquarters are. They pay to fly you out there and everything. "Best" is a subjective term, depending on how important fun is to you. Do you want professors lecturing you or do you want to travel to Europe for free?
It's really not subjective in this instance. Obviously in this case "best"=learning the most/preparing you for the job, not what exotic location they take you to. if my livelihood is at stake after training, then highly intelligent professors lecturing>taking a trip to amsterdam and getting stoned.
If you just wanted to get stoned, you don't have to travel all the way to Amsterdam, so what exactly is your point? Taking a trip to Europe is neither necessary nor sufficient to getting high. Amsterdam is one of the major financial centers of Europe. I think you'd agree with me that none of us are in any position to judge or make claims on whose training programs are the best, quality-wise. Very little of the training material is published for the whole world to see. Seeing as that's the case, with all else being equal, who in their right minds wouldn't prefer to travel to an awesome, fun place to get training? It's a really awesome perk.
Yeah, Amsterdam or not, the problem is that the training program isn't very good.
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