Low GPA from Semi-Target... Prop Trading Still Possible?
Hi guys,
So here's the problem in nutshell: I am a rising junior at UCLA, majoring in business economics and minoring in mathematics with 3.0 GPA trying to get into prop trading. I know that my low GPA could hinder me from getting a full-time role let alone internships in companies like SIG, Belvedere, etc. and I also know that I should have done better, but there were numerous circumstances that were against me in one semester and it effectively destroyed my GPA. At this point, the best GPA by the time I could get to full-time recruitment is probably around 3.44 at best.
Let me explain a bit about my background I have an internship in a CPA firm and I am interning in a small investment management firm this summer as a investment firm. I am a part of an investment club and martial arts club in campus. I have also taught math to high school students ever since I graduated high school. I have working knowledge in Excel VBA and I have taken an introductory course in C++.
Here are the questions... 1) What could I do to increase my odds of landing interviews? 2) Do I definitely have to know how to code? If yes, to what extent? 3) If I can't get an internship in prop trading for my junior year, what kind of other internships should I take in order to increase my chance for FT? Any additional comments and genuine advice would be appreciated.
I don't know much about the industry in the US but the prop trading firms in Europe I know of (Flow Traders, Optiver) really don't care much about your grades. If your resume looks like a guy who could be smart they will let you do some tests.
Thanks for your advice. Any advice on how I can make myself stand out even more?
I recently accepted a summer offer from one of the big US prop shops. I have never taken a CS class before and have no idea how to code. Ultimately, I think they are looking for people that are good at math and able to think on your feet. In terms of getting an interview, I would recommend showing off your math ability as much as possible on your resume. Best of luck.
Can you tell me more about your background and experience about your recruitment?
learn python and javascript...do coding challenges...intern at a tech company...then try finance the following year
You can get a first round math test assuming you have strong standardized test scores you can put on your resume or independent math/programming projects- credible signals of "raw intelligence" are quite valuable. Many selective trading firms are quite generous with the first round, and from there whether or not you advance is mostly about your performance.
That being said, these interviews are pretty hard. At a solid shop, something like 1% of people who take the initial math test might go on to get offers. Most of the people who do get offers happen to have high GPAs in STEM at target schools. So the fact that your grades are lousy- especially given what seems like a not particularly rigorous courseload- is Bayesian evidence that suggests your odds of passing through the process at any given shop, conditional on getting a first round interview, is under 1%.
If you want to maximize your odds of breaking in, I would A) learn to code (not mandatory but helpful) B) raise your grades and C) practice prop trading interview questions. Being able to do well in a prop trading interview is by far the best predictor of getting a job in prop trading.
I passed the first test for Flow Traders, but I didn't pass the second round. Will most shops let me at least have a try at first round?
Here is your answer, NO.
Are you coming here looking for an honest answer or for someone to pat you on the back and say "Its ok, man. You didn't perform well in school, but don't worry, you'll still get that GS prop desk job in this insanely competitive world"? Here is your fucking answer; you bombed at the first test in life (academics/grades) and you've set yourself back big time at the time in your career when it matters most.
Note how I didn't say its impossible, but its a fuck ton harder now.
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