I have an offer to intern in Susquehanna international group near philadelphia. I'm wondering what the salary is like after a few years? Potential upside including bonus? Thanks.
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Are you trying to gauge how hard to try during your internship?
The salary is highly competitive and upside is too. SIG is probably the most underrated prop trading firm on these forums.
underrated? lol are you for real
You disagree?! You might be right but I want juicy details!
Do you have a ballpark for the upside for sig? I have an offer with a Chicago prop who dont really pay much of a starting salary (think about 15k$ a year) but you keep most of your money and they have people making a million a year after 2-4 years. They train you up and have a high success rate... think 70%. Plus you're trading with the firms money. Not a "bucket shop".
Don't do this
This seems like a sketchy shop. Would not do this, 15k base is ridiculous. This is less of an actual shop and more of a leech.
Also, just think about how stressful your life would be with that type of commitment hanging over your head constantly.
SIG is a great firm, but they even straight up admit that the upside is low. They get you with a 3 year noncompete and they will straight up tell you as you get the offer that they consider this a trade-off; you get a SIG "education" in return of 1 year assistant + 3 year trading "low" bonuses (admittedly all-in comp for their assistant positions is respectable due to the high base.)
SIG is very corparate-y which has pros and cons. For a prop shop it is able to sling pretty huge size which gets you some trading opportunities you don't get elsewhere but honestly SIG treats it's junior traders like dirt and the upside is pretty small at those levels. The guys who founded Jane Street/Five Rings/etc left for that reason and if you talk to them still feel the same way.
Anyhow, all I see is them lauded as an elite shop with super hard interviews (?????) over and over in the forum, and while they certainly aren't bad, they certainly aren't underrated either.
Just my 2c
Great evaluation @euroazn"
SB+1
Yea that's fair enough. I haven't paid enough attention to see many people saying how great they are but I believe you.
Ptrading159, I would be very wary of any firm that pays $15k a year. I would highly suggest you consider the potential downside and not unconfirmed anecodotal evidence about a few dudes who got lucky and took home 500k after a few years.
You're not going to hit a home run at SIG in the first few years but you're much more likely to end up clearing 150k comfortably and still be employed.
What do you mean by downside? You're 100% trading the firms money... they train you up, paying you a stipend while they train you and then give you their money to trade. Certainly it's true that it's a question of risk and reward... SIG being a safe, comfortable salary, but the prop guys potentially having a higher upside?
Considering when I read Market Wizards books and see guys making their own money from their own trading decisions and thinking that's where I want to be.
This low upside stuff is sort of overblown. Having interned there, the A/T's all seemed happy enough due to their job security, and there were plenty of the senior guys who seemed to be making serious money. Also, this is anecdotal, but someone I know is dating a SIG options market maker who's 29 and he's apparently making 3x what she does as a corporate lawyer.
The dough is good after you get in the door. I knew a guy from the macro team when I lived in philly and he had a considerable amount of his own capital in a prop pool (the way he described it to me was the firms money aka his stake with the firm) he was short the major indices before December 31st 2018 and cleaned up a nice trade for his team. I think he said he was doing 1/2 a stick a year. He was like 30.
I think it also matters what desk you work on: ETF, equities, fixed income, options/commodities etc. I’ve only had exposure to the equities guys for basket/program trading when I worked in the index space.
Regardless of everyone’s 2c about the limited upside if you want to get a sound base in trading and learn a lot it’s an awesome spot. The non-compete also wouldn’t matter if you moved on to a HF or boutique, L/S AM etc. you just couldn’t go trade for say like Central risk books or other props/MMs.
There is a well known cull for ATs, probably a third of the class gets axxed. This is not unreasonable for trading imo but something that should be known.
This seems very reasonable, I would believe it. Philly cost of living is cheap too.Actually yeah I should have clarified that the A/T's seemed more happy with the high base salary and the stability from that. I interned there on the eve of the financial crisis so the culling I saw mostly seemed market related but yeah I'd believe there's an established one.
your maather
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