Hey guys,
Was wondering what traders do after a couple years of trading... Might sound like a dumb question but IB guys usually go to MBA then PE or hedge funds, but what do traders at (for example) First New York or Jane Street or some other reputable firm go on to do??? From what I know most don't even do MBA b/c it's not necessary as would be in IBD or AM or the likes....
Interested to hear your opinions Thanks
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bump. i think msf if you want to go into a similar industry
or, something completely different
From what I've read here, if you're a good trader and you want to continue trading, you continue trading. Most here believe that getting an MBA when your in trading is pretty much a waste of time, unless you want to do something else.
^yeah that's my guess... but I guess my question is more geared towards what the "end" is for traders? Most IB kids would say joining KKR or some huge PE firm or MD at goldman would be a great "end" but how about traders?
Would working at a no name prop desk and then moving to a BB desk be the "end"?
I usually don't post, but this topic seems to have been asked so many times. If you're a successful trader, you continue trading. From ibanking, most want to move to the buy-side as their "end" for better pay and better lifestyle.
If a no name prop desk gives you the capital and resources to be a successful trader, then there is no point in moving to a BB desk. At the end of the day, you will have the exact same pay and lifestyle. The "end" is when you decide you either get fired, get sick of trading, or have enough money to decide to retire.
The other somewhat relevant point is the prestige factor, which imo is a non-factor for most traders. Typically, what they see are end result. If a no-name firm prop trader is raking in 7 digits a year, while a trader from GS is getting 6 digits, I don't think the no name guy will want to jump ship anytime soon.
thanks "jobhopeful" I guess the prestige factor was what I was getting at...your comments are spot on I guess... the prop shops I've been to were somewhat "casual" - jeans and collar shirts etc...nothing like working at a large corporation: suit tie etcc...
general question: when firms give you an average base pay plus a percent of your PnL how exactly does this work? would a junior trader be given x amount of money to trade and what ever you make you get a portion? what percent is "average" b/c from what I heard juniors don't get that much leverage so PnL won't be substantial????
chime in monkeys thanks
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