DRW or Susquehanna International Group?
Which would you pick?
One thing is I am leaning towards Chicago over Philadelphia, but SIG does trade in Chicago, as well.
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Personal preference..SIG
SIG is also in NY. Some of their actions have indicated they're moving towards a full i-banking platform - if you want pure prop, I'd opt for DRW.
I'd pick DRW personally
SIG's pay is much higher for assistant trader, but you do have the 3 yr non-compete vs 1 yr for drw
^ Exactly, plus the difference is 100k vs 65k which wont mean much in a year or two, plus the 3 year non-comptete is pretty brutal, hedge your bet kid...one more thing nyc > chicago >>>>> philly
I have worked at one of these firms and in my experience, SIG is where you will truly have a chance to grow. They invest a great deal of resources into each new assistant trader and you will definitely learn a lot. I would rather not comment on the other option.
i've heard most of the sig positions are for philly, and not much for chicago. haven't heard anything for ny.
worked there for one summer, very good training programs, even for summer interns
and the poker games, awesome
they also have rock band and a GOLDEN TEE arcade machine lol
So SIG has rly good training program...Can anyone talk about the training at DRW or anything else (culture, strength of desks, pay grades) for the two firms?
Thanks all for the comments.
SIG has a great intern training program, 2 hours every day of the week during the summer, they have senior ex-traders running education, who are great at it, goes through math, lots of probability, extensive option theory, mock trading and limit poker. There is also a speaker series on some of the topics above. The culture is not like your typical bulge bracket trading floor, there's no hazing or initiation process or any of that crap, you're entirely respected by your smartness and work ethic. I feel that trading floors which are hierarchical and treat noobs like shit are filled with insecure traders who are usually second best.
People at SIG realize that a really smart assistant trader or junior trader could well, if they're really good, be making more than them in a few years. There is a lot of betting on just about anything, lots of poker players. The most respected people tend to be those who are somewhere between a quant and a trader and good at both. Usually have quite quantitative background, constantly think probabilistically and are able to take rational risks and decisions as far as possible. Definitely some ridiculously smart people around.
They're undoubtedly one of the more prestigious prop shops. The only [trading] firms I'd take over them are DE Shaw (already did), Jane Street Capital, RenTech, AQR, or SIG (more marketmaking)
As for the culture,DRW hires a lot of college grads from top schools over more experienced people. You'll be expected to keep up with some very smart people, so do your homework. As opposed to SIG (which does a lot of Market making), DRW is full blown prop trading. They focus on technology, which gives them an edge.
double post
I believe DRW is a market maker, just as SIG is. SIG is primarily equity options (single stocks--they're a DPM in a lot of big big names). DRW got their start in Eurodollars and I believe now just trades EDs, Fed-Funds, energy, and the curve. Do you want to trade futures or options? Do you know?
above post spot on about drw. they just started trading equities and it's very limited there as of now
Do not hesitate to send me a personal message about DRW, or SIG .............................................................................. http://ittakesanationofhaircutstoholdusback.wordpress.com/ It Takes A Nation Of Haircuts To Hold Us Back.
what do u guys think of first ny versus baml
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