I have recently gotten an offer for an equity trading position at Trillium Trading. I was wondering if anyone had opinions on whether working at a prop shop is a dead-end path or if there is any forward/lateral mobility after training at these boutiques. Any insights would be appreciated.
Would a successful proprietary trader be able to get a job with bulge brackets, PE, hedge funds, or no shot? Look forward to hearing.
I am a senior graduating this May with a degree in finance from a non-targeted but respectable school with a strong business program. Any insights and advice would be greatly appreciated. Thank you, look forward to hearing your responses.
There are a lot of threads on Trillium so you should do a search. Trillium is one of the best prop shops out there and definitely a nice place to start a career.
Trillium's a daytrading firm.
It's technically a proprietary trading firm because "every trader is working from the same account" but other than that it's nothing more than day trading.
Just so we're clear day trading means you can't hold a position overnight.
Besides the ability to make a ton of cash quickly, there's no real upside (zero prestige, exit ops, etc..)
Day trading firms are just looking for numbers, they make most of their profits from the commissions charged on trades.
For instance, assuming that a trade costs $16 and an average of 29 transactions are conducted per day, an investor would need to generate an annual profit of $111,360 just to cover commission expenses....
I'm sure Trillium charges nothing near $16, but the key is that they're not interested in how well you do as a trader, they just want to make sure you keep trading.
A buy-side trading firm like say, First New York would be a different story all together. And if your interested in exit ops, prestige, learning, and advancing your career this would be a much better path.
Hope this helps.
Lmao. shows how much you actually know and yes theres those of us who hold positions overnight and we are not forced to liquidate our positions at night at all whatsoever and theres actually some who are more swing traders or even mini hedge funds at the firm... and definitely nowhere near 16 there, its not even done on an exact trade basis.... what do you do, day trade from your own house using etrade for 10 bucks a trade? lol
lol Unconnology you crack me up
What are exit-ops from a firm like Trillium. Are BB and HF interested in successful traders?
there are definitely exit opps, trillium is one of the VERY few reputable prop trading firms in NYC. I doubt a BB would really be interested in a trader at a prop place as they had no experience trading flow, and if you had a monster P&L, then there would really be nothing to motivate you to get a job at a BB. HF, maybe you'd have exit opps, but again, highly doubt you'd want to leave, as most prop places are going to give you a higher quality of life and a MUCH better share of profits than any BB or HF would give you. the only difference is that if you were given your own book at a BB or HF and could prop trade, you might have more access to capital than a place like trillium could offer you and therefore you could make better profits for the firm and get paid better, but again, this is also depending on your political connections within the firm, and the fact that you are paid in stock as well is a double edged sword, you could multiply your money or, in the case of the bear stearns execs, you might be up shits creek.
Closer, I think you should know that it appears to be the norm that bonus compensation after a certain figure is usually paid in stock for public companies. Not sure which BB's pay stock in specific i just know its common.
im lost, i didnt get what you were commenting on, i know that's common, i was just saying IMO, id rather be paid in cash and be able to invest how i wanted, not being tied to my company's performance, IE I would invest all my savings constantly in Goldman stock.
this thread is getting off topic.
on topic again, there are quite a few good prop shops out there. jane street capital, susquehanna, drw, chicago trading company, etc. but like said above, it's about your sheer p&l that you will be making money or shown the door. i've heard of people going for prop shops to hfs but usually its the other way around.
going from HF to prop shop, or the other way?
Sorry, but your typo has me confused. Thanks
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