Trading Jobs - Rising junior at NYU Stern
I am a rising junior at NYU Stern training to become a trader. I have a high GPA, interned lat summer at a small Hedge Fund and this summer at a very large alternative asset company working treasury in their Hybrid Fund. I have two questions.
If i eventually want to go on to trade for a hedge fund or start my own prop firm, is it a better path to try and intern next summer in S and T and a BB or try to land an internship at one of the good prop firms in the city.
For either choice, do you think my experience/crednetials are enough at the moment or should I try and get another job during the fall to beef it up.
Thank you very much and i appreciate everyones help
No offense, but youre a Junior in college, you shouldn't be thinking about starting "your own prop shop". There is no problem in thinking big, i encourage it, but you dont even know if youll succeed/enjoy in the simpliest form of trading or brokering. This reminded me on an individual I worked with in an analyst program at gs and they asked him what do you see yourself or would like to see yourself in the future and his answer was "warren buffett".. its a little silly...
To answer your other question, your first step would be to get a trading gig, whether at a prop shop or a bank. You probably wont get into a hedge fund as a trader with no experience, I really wouldnt waste much thought or effort on those attempts. Your best chances to prepare yourself for a trading interview/gig, is to start trading small on your own, whether fake money or real money.. itl show a track record you can print out and bring to an interview and put on your resume and you can talk about your thought processes for each trade, a stop why enter/exit ect. I would also read heard on the street by crack, and some technical books just to understand the concepts of some trading strategies. It will make you sound like your passioninate about the business and you actually are somewhat informed.
I've been trading for 2 years, playing poker for 10 and love both of them. I have read numerous technical books and am doing my own research on trending as well. I am also part of a student run investment firm. When i said starting my own firm or working at an HF i meant down the line in the future, not anytime soon. I was just wondering if the experience i have now would be enough or if i would should try to get another intenship in the fall.
There is no way to ever know if your experience is enough. If you can get an internship in the fall with something you really enjoy then why not do it? Youll always get more references and connections and it will make your resume better. There is no downside to it besides not being able to go out and party as much? There are some people who will get interviews by luck with little experience, do well and fit in the interview and get the job, where some people will have a plethora of experience and not even get an interview..
life isnt that easy or predictable.
There's a lot of luck to open up your own prop. Lot of prop traders that did well at BBs failed when opening up their own shop....even those with long term track records.
Your track record really matters. It also comes down to knowing the right people to fund you and hiring the right people to work with you, presenting yourself well, and becoming an entrepreneur.
All arent easy as you can tell by many failed funds. That's what makes people like buffett so great...he did many things well besides investing such as picking people to work for him.
If your asking this forum for career advice you still have a long ways to go.
But anything is possible and definitely dream big. Perhaps you will set your own standard and prove everyone wrong.
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