Silver BananaTopicReplies
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Recruiting for Prop TradingI'm currently an undergrad attending a target public school and have been seeing lots of trading opportunities being posted on our job boards (DE Shaw, SIG, Jane Street, etc). I'm currently majoring in mathematics and information systems with around a 3.7 GPA and am seeking a full time role. By back...
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BMO Capital Markets - Review - N/Auuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuu. uuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuu...
IMC Financial Markets - Interview - Prop TradingThe most difficult question was about solving an elevator algorithm problem. The interviewer gave me 2 different elevator algorithms that both did the same task except that one algorithm prioritized customers that pressed the button first, verse whatever floor was closest was pressed. From there h...
Bloomberg - Review - Trading- Company truly embodies the intersection of technology & finance - Great snack pantries & soup offered daily at the main office - Does a good job following its mission of transparency & that's reflected in the architecture of the offices - Reasonable hours - Lots of great internship events over the...
Goldman Sachs - Review - GeneralistHey It was a wonderful experience, Who doesn't like getting paid you tell me brother that too at Goldman. A lot of work, toxic culture, all the people digging money, no out of work relations at all. These were the cons...
HSBC - Interview - Equity Capital MarketsDescribe a time that you were faced with a problem and how you solved it. They also asked to solve numerous math questions that required alot of converting currencies. They gave you the conversion rates and everything that you needed they made sure not to make the math difficult but made sure that ...
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BNP Paribas Global Markets Best GroupsHey guys, just received an offer for 2019 SA at BNP Paribas Global Markets (S&T). I'm looking for some insight into some of the groups to see where my interests lie/best fit. I'm looking for something with a more macroeconomic view but I'm not that familiar with the day-to-day basis of the groups. A...
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STC Series 7 (41st edition) and 63 (42nd edition) Books For SaleBoth barely used, trying to get rid of these ASAP. Asking $120 for the pair OBO. PM with offers. Located in NYC....
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CIBC World Markets - Interview - Sales and TradingAsked me a brain teaser about how to price a call option - apparently, you are supposed to try and understand the question using probabilities and multiply the probability by the total upside you predict in that stock/index. Be ready for the brain teasers - they really show how well you are equippe...
JP Morgan Securities - Review - Equity Capital MarketsGood work environment Good team The structure is good for mobility, so there is plenty of opportunities . Bonuses lower than other firms. The payment structure is designed more to keep you there but not so high that you can leave...
Susquehanna International Group - Interview - OperationsDescribe a time you improved a process. Describe a time you were under high pressure, how did you deal with it. Interesting news story in finance, will be asked to describe how this news effects certain financial instruments. Need a knowledge of finance for this. Asked to walk thru your CV and descr...
Cargill - Review - CommoditiesGreat people, care about their employees, hours are good and they give their junior level people lots of responsibility.. Pay is pretty low, starting locations are pretty bad to start a career. Very bureaucratic because of how large the company is and how things are run....
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CMT as a complement to CFAI just took level II of the CFA a little over a month ago, and I'm thinking about taking the CMT as a complement to that. I currently work in Product Control, but I want to break into trading. Is the CMT worth the time/money as a complement to the CFA? Does the CMT make me a more attractive candidat...
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ontario teachers pension plan - Review - Capital MarketsGreat team, amazing learning environment, lots of opportunities for growth, very smart people to look up to. There weren't many cons to working here, lots of positives, only negative would be that it is in north york...
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Market making group exerciseHi, I have an interview coming up that involves a group exercise, I'm guessing that it's going to be a market making game. Does anyone have any links or resources that show and explain how such a game would work? Thanks ...
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JPMorgan Chase - Review - RatesCollegial environment of directors who genuinely want juniors to learn and take responsibility quickly . High stress, lasting anxiety, steep learning curve without adequate support to learn, high margin for error with high stakes ...
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Diabetic on the jobHi all - I'm new in S&T. I'm also a type 1 diabetic. While I keep my A1C in good check, I have the occasional low/high blood sugar swing. Being on a sales desk, I worry that at some point having low blood sugar will impact my ability to think straight and I may misquote a large trade or otherwise do...
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Vol Trading @ PropFor people in the industry, lets say you're joining a prop firm to trade single name or index vol, not market making to make off the bid-ask spread. You have no quants, no modelers, etc... Is it possible to trade without the use of volatility modeling? Are you trying blind? ...
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Morgan Stanley - Review - N/AGreat learning opportunities as long as if you’re willing to put in the time and effort. Job is fast paced and will rarely leave you bored. Long hours and early mornings, especially if you’re in one of the debt groups. Lots of meetings with lots of memos...
Bank of America Merrill Lynch - Review - Distressed DebtGreat time, great hours, good location, great city. Good network and great exit opportunities. Good compensation. Too regulated of a industry to do proper trading based on fundamental analysis. Bank is too timid in taking risk to make substantial profits...
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Important Resume Question: For non-target undergrad students, should impressive AP scores go on the resume? I went for a very specialized degree at a non-target undergrad public university (very few schools have the program). I am wondering whether AP scores should go on resume, particularly if I have them in the 3 hardest AP classes (Physics C: mechanics, E and M, Calc BC and some liberal arts ones). I...
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Need advice on how to make a transition into grain tradingHi, I need advice on how to best transition into a physical trader at my company from my current role in commodity research Background: I'm in agribusiness space for more than 5 yrs. My current role is in commodity research, prior spent a few years in grain procurement with strong track record. MSc...
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Binary Options Trading or FX Trading?Hey guys, I am relatively new to investing and I have been trading in the foreign exchange markets occasionally making money, and occasionally losing money. I am very interested in currency exchange so I find all of my research captivating. I recently stumbled upon binary options and was wondering ...
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Goldman Sachs - Review - SecuritiesGS is obviously a strong brand on your resume. Exit Ops are great. Traders can leave to go to top prop shop like Citadel. Mentorship culture is strong, and you can learn a lot from the people here.. Nothing much so far. If you are looking for a job like this you already know that work life balance c...
IMC Financial Markets - Interview - Prop TradingElevator algorithm optimization. Thought this was unexpected for a trading role. IMC does love to ask about optimization problems, but the elevator one seems more standard for software engineer interviews. Various questions like "what is an elevator that operates on a first come first serve basis op...
Scotiabank - Interview - TradingNothing that was unexpected. Tell me about the market. Tell me about ___ industry. Tell me about yourself. Walk me through your resume. Please explain this specific skill you listed on your resume etc. I felt like I was in control of the interview and could steer it whichever way I pleased. There we...
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2018 Sales and Trading Recruiting (Intern)Hey guys, there's too much IB and not enough S&T. So lets get a thread going on the recruiting timeline for Sales and Trading. Comment below with any info that you have. Feel free to ask questions along the way!...
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Preparing for interview process at Flow TradersGot selected for a math test at Flow Traders. I get about 65/75 in 10 minutes @ TraderTest (custom, one operation). What are my chances? Has anyone else taken it?...
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Optiver - Interview - Trading**Numerical tests:** - First part 80 questions in 8 minutes, easy questions but you have to be quick. Benchmark 54 points, you get deducted 2 points for every wrong answer and have to make them in order. Skipping questions not aloud, but if you only fill in till for example question 60 the last 20 ...
JP Morgan Securities - Interview - MarketsThey really expected me to know a lot about markets. Grilled me about my internship experience and cut me off many times to see if i could still stay calm and answer questions. Apparently i did not stay clam and i was panicking. Asked me a couple brainteasers and probability questions. another thing...
Exxonmobil - Review - Oil & GasGreat benefits, really smart people to be working worth. Amazing new Houston campus and a changing culture.. Still slow to change, working with HR can be extremely slow. Noticeable difference between the older generation and newer generation....
Bank of America Merrill Lynch - Review - OperationsI lived in New York City. I will not ever regret living in New York City, regardless of my negative experience at BAML.. Doing job function I did not sign up for. External recruiters are either malicious or incompetent for selling role that is not what its supposed to be....
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Non BB SA -> BB FT?Hello Everyone, I've been lucky enough to have just accepted a US Equity S&T SA position at a smaller MM bank. Coming from a semi-target I am very happy with this position but I am hoping to break into a larger bank for full time. What is the timeline for full-time recruitment? Does anyone have exp...
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Goldman Sachs - Review - OperationsRelocation bonus, location- SLC is gorgeous, & downtown SLC has alot of good food. That's about it.... Mainly everything surrounding working in ops. This SLC branch should not have the name Goldman Sachs. ...
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Stocks Tumbling - An October Revolution?Hi all, October 10, 2018. What a day it's been for equities -the Dow is on track for the worst drop in a week since April. What do you guys think? Is it FINALLY time for a market correction? Do you guys think earnings season will bring back momentum? what does this mean for the future, especially f...
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DRW Trading Group - Review - Quantitative ResearchGreat summer internship overall. Nice people who cared about growth which was important to as a summer intern. . N/A ...
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Citi 2019 SA S&T Phone Interview QuestionsI have an upcoming Sales and Trading phone interview with Citi. Can anyone who went through the Citi S&T process tell me what their interview process was like? ...
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Junior Rates Trader Interview prep/QsI am 3rd year rates trading analyst in a non-BB looking to move to BB rates trading. From those of you who have made a move or who have interviewed similar level candidates, what would be your advice? The interviews are with EDs/MDs. **How best to prepare for such an interview? What questions sh...
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Middle Market IB Trading Desks?I'm curious if anyone has any insight on working at a MM IB in S&T. I've got a superday coming up for a junior trader role at a MM bank. I'm coming from private equity, but I'm much more interested in trading or sales at this point in my life and struck out at the BBs. I assume the there's quite a ...
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After how long at a job can you start looking for another one?I'm 4 months into a credit analyst role and hate my group. I'm really looking to break into markets but was wondering how my resume is going to look with 4 months at a BB... any one have any experience with this?...
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Salary Expectations For Prop Trading FirmsI'm wondering what prop traders actually make at tier 1 firms (Optiver, Jump, JSC, Citadel, etc) vs at tier 2 firms (Akuna, CTC, Belvedere, Consolidated, etc). It is extremely difficult to find good numbers online as glassdoor does a great job of underestimating the salaries. If you're an average tr...
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15 Career StepsLongtime reader here, left the biz in 2012. I thought I'd give back and post some good advice that was shared with me by an older mentor when I was younger. Learn it. Use it. Live it. Hope you find it helpful. 15 CAREER STEPS 1.) Perception is everything...act as if. 2.) Never give them a reaso...
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BB Trading Spots Left?I just found out that loads of people got BB trading offers in May. Do I still have a chance coming from a non target school? I'm looking at JP Morgan in particular for FICC S&T....
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Adjusting the quote prices for a market makerSuppose a market maker quotes a price and executes a trade. How should he adjust the prices given his current position, say he is 1 lot long? ...
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Always assess the minor factors of the Forex market Every trader knows the trends are always changing but why so few people can make the money? The result will be explained in this article and it will also tell you why the market needs to be in check. The traders mix up the concept of checking the trends and overtrading the market. The first concept ...
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IMC Financial Markets - Interview - N/AI applied online and was asked to do a phone interview soon after. They asked me about my resume, the usual, and then asked me a few general questions about data structures, nothing too complicated. For instance, they asked me about how a HashMap works. After that I was invited to Chicago for an on-...
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Optimal spread of a market makerHow does a market maker decide his optimal spread on a commodity and what are the risks involved for a Market maker in this business?...
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Bips vs BeepsHow do you guys refer to basis points? I've had an internship where "bips" was the standard and am taking a class right now where the professor exclusively uses "beeps." This professor has been teaching ~30 years but has never worked in industry whereas my coworkers had been for 10+ years. ...
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Akuna Capital LLC - Interview - CommoditiesIt started off as basic math questions such as 5 times 5, or 5 minus 9. However, it gradually built up to triple digit multiplication, and division problems. For the sequences start brushing up to answer questions such as "What is the next letter in this sequence: A, C, D, E, ?" You are not allowed ...
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Designing and Training a NeuralNet for trading algosi've recently gotten the machine learning / neural net bug and have decided to take the plunge. I have a set of trading strategies (mostly uncorrelated), mostly technical analysis based, where the base data is footprint data (price - qty bought - qty sold) at short intervals...about 5 seconds (so...
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Deutsche Bank - Review - Sales and TradingGreat team and very manageable hours. Good pay. Good access to clients and management teams. Interaction with all divisions of the bank.. Low morale, turnover higher than industry standard, uphill battle trying to gain share vs other banks. Sense of being a "2nd class citizen". Virtually impossible ...
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AMA - 3 years software development to Power trading analyst at a supermajorHi..long time lurker, wanted to share some of my experiences going from software development (.NET c# and SQL development) and into a front office, trading analyst role on the power desk of an energy supermajor (bp/shell). for folks that have untraditional backgrounds (studied engineering, comp sci,...
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RBC Capital Markets - Review - Sales and TradingEveryone was very friendly as long as you reached out there were always people more than happy to talk. Compensation is lower than a lot of the street and people who work here feel like they're stuck and can't go elsewhere...
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Pivoting from Agriculture Trading to Energy Trading, need adviceI've been working as a physical ag trader at an ABCD for a few years now and have just accepted a position in Power Trading. Has anyone made a similar pivot in the past? How did it go? Any good reading material for power markets before I start my job? Any advice?...
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Option and Equity Trader - Ameriprise Financial Hey all, After a month of being head hunted, I met with a senior vp from Ameriprise to discuss a senior trading role. I'm a trader at a competing firm and the offer Ameriprise is making is very generous. Has anyones opinion changed on them? Are they still in the same group as Edward jones and nort...
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Morgan Stanley - Review - Sales and TradingVery good learning experience, great environment with smart people. Get a lot of hands on experience with the day-to-day of the sales-traders.. Boring work at times, not exciting. Not a lot of room for creativity. Sales and trading is an execution role for filling the needs of the institutional clie...
Belvedere Trading - Interview - N/AThe interview consisted of a lot of mental math and probability question. I was first asked basic two digit multiplication, then it moved on to squaring two digit numbers, and finally he asked me to cube a two digit number. After mental math, we moved to probability. Probability of picking specific ...
Optiver - Review - Prop TradingGood office space, great perks, competitive salary, most people are friendly. Amsterdam location is pretty good . A lot of middle management, quite reluctant to change, large turnover rate, lack of exit opportunities...
Goldman Sachs - Interview - N/AThey didnt as anything overly difficult or unexpected. The key thing is to be prepared and know the role you are interviewing for so that you can prepare for it will by studying and being aware of what is going on in the markets at the time of the interview. Know your resume well and be able to arti...
BlackRock - Interview - Sales and TradingBoth the two interviews were quite similar: questions relating to my CV (previous experiences and studies) and then a few behavioral questions. In the end, there was some time for questions that I had and a brief discussion. The questions relating to the CV were mainly targeted to skills needed for ...
RBC Royal Bank of Canada - Interview - Sales and TradingThe interview started with a presentation of the summer programme. Afterwards I was asked the regular behavioral questions such as telling about a time I worked in a team, etc. The focus was mainly on situation of team-work and collaboration, since the company is keen on that. In the second stage of...
Akuna Capital LLC - Interview - N/AHardest interview question asked, was just probability. The unexpected was more behavioral. Expected to get asked why prop trading, why this company. Got asked some about EC. Was surprising because just unexpected. Thought it would be mainly behavioral in context. Expected to get asked why prop tr...
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BAML Summer Analyst - Advisory Development Program QuestionHello Monkeys, I’ve been in the interview process with BAML for its Advisory Development Program for about a month now and I was just invited for my superday in Boston. They specified in the event details that it is for Financial Center and not Wealth Management like I had applied for. Can anyo...
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Long/Short Credit InvestingHey WSO, I have done a pretty thorough search on long/short credit investing on both WSO and Google, but I still don't have a clue as to how it works. Forgive me if I'm way off base, but given a relative value strategy, would I start by finding a mispriced security? For example, if I was trying to ...
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Day in the Life: Oil Trading Research AnalystI feel like it is often said here and at times overdone, but while every day is a bit different there are certain tasks that happen every week or month. I’m going to split the below into three different types of days to compare. Day 1: Weekly and Monthly Updates Monday is generally the day of t...
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Series 7 - STC Scores Vs Actual OneHello, I am working on my Series 7. I did some of the 130 Questions Exams (12 are available in total) by not looking at the book. I didn't start yet the big exams (which are a repetition of the 130q ones). What were you score on the preliminary exams? I don't really feel that the big exams reflec...
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Cantor Fitzgerald - Review - TradingFun fast-paced environment Learned a lot from some of my desk managers Most traders are happy to sit down and talk with you . The internship program is pretty new and it's obvious that it is. Rotations might not give you meaningful work Most offers were made due to connections Often times sitting ar...
Deutsche Bank - Review - SalesVery competitive environment, challenging job, smart and ambitious people. 20 day annual leave. 4 months maternity leave. Highly political, bureaucratic. Internal systems are fragmented and messy. Middle and back office ppl very inefficient... costing cutting going to the extreme!!!...
JP Morgan Securities - Review - Equity Capital MarketsNice people, supportive culture. Bank does its best to allow people opportunities to move across roles within the bank.. Lots of work. The internship program is non rotational which makes it difficult for quality people who aren't amazing at networking to get offer...
Optiver - Interview - Sales and TradingThey asked you to price an orderbook and play a market making game against CPUs. On the phone, they gave five times each to get to the airport using taxi and train and asked which one you would take. General behavioral questions like why trading, a time you failed, how hard you work, etc. There was ...
T3 Trading Group - Interview - Sales and TradingThere were really no hard questions at all. The hardest question that I can remember: 1) What was something you traded and show me why you decided to enter/exit (They would pull the trade up on their chart and bring up the timeframe you gave them)? 2) Which industry is outperforming the market ...
OSTC Group - Review - Prop TradingThe company was good and managers were friendly. Got exposure to various financial instruments and had a great time working there.. Long working hours, less incentives and low growth are the cons . Company lost to be creative after few years which affected its own growth....

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