"Patak" Style Shops, good experience for resumes?

Rank: Senior Chimp | 18

All of these shady online prop shops like Patak, Pulsar, etc. where you "tryout" in simulated trading, do they provide any trading work experience that future employers will actually care about?

I am not naive, and I know these are not "respected', prestigious prop shops by any stretch of the imagination, but if you passed the simulation and began trading a live account with them, this certainly couldn't hurt for resume-building/grad school applications, right? Or would it instead make employers laugh at your resume?

Comments (5)

 
1/20/12

My view is if there is no salary where the prop firm just "try" you out and claim to "back" successful traders, it is worth trying out but would be best NOT to put it on your resume. The only exception is the case where you manage to make it past the trial month, and start making serious returns consistently.

If there is a salary, albeit a low one, I think it is worth putting it on your resume.

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1/20/12

Yes, I meant to ask if it would be resume-worthy if you were making consistent returns, sorry for not clarifying.

 
1/20/12

George Parr, that isn't necessarily true. I interned at a prop desk of a small boutique investment bank and they didn't pay a salary, just a % of profits for all traders that run a pure prop book. Most "directional trading" prop firms like FNYS don't pay a salary past the training program either.

PnL takes precedence over the firm's prestige.

 
1/20/12

George Parr, that isn't necessarily true. I interned at a prop desk of a small boutique investment bank and they didn't pay a salary, just a % of profits for all traders that run a pure prop book. Most "directional trading" prop firms like FNYS don't pay a salary past the training program either.

PnL takes precedence over the firm's prestige.

 
1/21/12

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