From IB to BB trading or prop trading (junior level)

Hey guys!
For the context, I'm French, 24 y.o., top 3 French engineering school and top 3 MSc Finance in the UK!

That being said, Im coming to you as I plan to redirect from IB - where I was doing Project Finance - to trading. I feel like it's the only field of finance where it will be quantitative enough for me and not too repetitive. I chose Project Finance as it's really technical and complex but I already feel like things are gonna be repetitive. I'm young I might as well try something else!

I have a few questions! Some help will be appreciated :) 

1) From what I have seen preparing for interviews, they are gonna differ a lot between prop trading firms (Jane Street, Optiver...)  where it is mostly brainteasers and mental calculation without much financial knowledge and BB (GS, JP...) where it is going to be way more technical with proper finance questions. Am I right?

2) What are the differences in the daily lives of a prop trader vs a BB trader? 

3) How is job security in the field? I understand there is a high turnover in prop trading firms, partly due to layoffs. Should be lower in BB I would guess? For a trader getting fired after ±1 year, is it hard to find a job again? 

4) What are the possible exits from this field? 

5) How will my story be seen by recruiters? I have tried to explain my path and choices in my cover letter and I hope my absence of experience in the field will not prevent me from getting into trading. Do you think I stand any chance?

6) If you guys had any resources to share for interviews, it would be really helpful! I have already done everything on graduatetrader and plays rankyourbrain daily for the mental math/brainteaser aspect

Thanks everybody!


Comments (2)

  • Intern in S&T - Comm
Mar 15, 2022 - 11:25pm

Job security much lower at prop firms like JS/Citsec etc, you're taking more proprietary risk earlier on and make way more than a trader at a BB. You're a larger cog in that sense so have more room to fuck up.

Mar 18, 2022 - 6:50am
theberth, what's your opinion? Comment below:

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