IMC Financial Markets - Opinions?
What is everyone's opinion on IMC? Is this a good time to join? How's the compensation + bonus at this firm for a trader? Currently interviewing with them.
I have a friend who was there this summer that said he really enjoyed it and was impressed with the firm. Said the culture was really chill and it seemed like he was getting pretty solid money. Definitely one of the more reputable Chicago prop shops, probably much closer to a Citadel/drw/Optiver than say a belvedere/Akuna type shop.
Akuna is very similar to Optiver though. The founders of Akuna were all partners at Optiver. Unless you mean Citadel/DRW/Optiver are more well known - which I agree with. However, with prop trading I don't think name matters much.
One thing I noticed is IMC had ~90 million in distributable fixed + variable bonuses in 2016, compared to Optiver's 320 million. IMC has about 1/2 to 2/3 of the employees, but the profit/employee is still significantly lower.
Are you sure about the 90 million in total compensation? From the 2016 annual report https://www.imc.com/media/1161/imc_annualreport-2016_v_3da840.pdf (page 10) it seems to indicate 89 million EUR in variable compensation.
IMC is a fantastic firm, as are the other firms that have been mentioned in this thread.
I know IMC is a good firm. The question is how good? Compared to Optiver, DRW, and Citadel, it's probably the worst
Worst for who? I doubt you are in the industry. For an undergrad joining for first time, clearly DRW/Optiver are worse than IMC.
IMC is definitely one of the top shops (DRW/Citadel/Optiver/SIG/JSC).
Comparing Dutch option MMs, for me IMC US = Optiver US (in terms of calibre, profitability, and compensation), but other offices in Optiver makes way more $$ than ex-US IMC offices. Compensation is bit discrete though.
Interesting insights, thank you. can you elaborate more about the compensation? I had the impression that Optiver compensation would be greater from bonus. i heard IMC does purely HFT vs Optiver which focuses on low latency trading.
Not sure what you mean by HFT vs low latency...Those two are the same.
Compensation-wise I will say mean of Optiver would be higher than IMC, but nothing significant. I mean, you shouldn't make your choice for 100k difference when your fit with your desk, co-workers, and company would make few million difference, right?
I would not put IMC in the same tier as those other firms.
Why not?
I have applied to a 6-months off-cycle Trading internship in Amsterdam.
I would like to have your opinion on the online aptitude test. How to prepare it, and if you could recommend me some readings or website or any advice ?
You can't prepare for it. It's not like mental math tests from other firms where you can grind tradertest or zetamac to improve. It's purely a logic and reasoning test with a factor of speed. Not very hard at all to pass but apparently a lot of people fail it.
Did you pass the tests?
have taken it, you cannot prepare for it...
Thank you for your answers ! Well I believe I am gonna trust my talent :(
The internship recruitment process seems pretty heavy actually. If I pass these tests, I will have brainteasers call, a skype interview and eventually the final physical interview in Amsterdam
I gave it last year with no practice. I'm no Maths whiz or something but it was very simple. May have got 1 answer wrong. Their third section is tricky especially the last question of both sections.
Though I got kicked in the next HR round because I had never given such interviews before :D.
I know this is an old thread but what was the next HR round like? I just scheduled mine for next week!
Solid firm. Any of those four are comparable, I would go with the one that feels right. All offer solid comp and exit opps (if you want to switch from one to one of the others later down the road, that's very doable).
IMC is great. I would just prefer it over Optiver. Great comps and hours.
I've heard the hours aren't great - 55-60 hours a week. There are a lot of firms I've spoken to with better hours.
Why do you prefer it over Optiver? I've heard Optiver's bonus/total comp tends to be higher.
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