Trading Desks in Chicago

Especially for MBAs, what are the best trading opportunities in Chicago? (generally--not necessarily this year)

I know about the commodities and equity option exchanges, but what upstairs roles are there in Chicago? Is it just prop trading firms/hedge funds? Are there any desks trading flow, or structuring exotic derivatives in Chicago? Or are all of those jobs exclusively in NYC?

I have a listed-option market-making background, will hopefully be attending a top business school this fall, and am very averse to paying 2million bucks for a 2 bedroom apartment in Manhattan. If there are S&T jobs in Chicago for MBAs, I'd rather go for them... Thanks!

Comments (19)

Feb 4, 2009

chicago trading company is a market maker (flow)...check them out, and look at websites of other prop shops to see if they are or aren't purely prop desks.

a lot of BBs have been shutting down operations in chicago. had a buddy at UBS in credit sales in chicago, and the entire desk got shut down.

Feb 5, 2009

I would recommend the GS trading desk (I think they are the only BB left in Chi) or BP Integrated Supply and Trading (ultra large energy trading operation). I wouldn't recommend doing CTC unless you wanna be in a CBOE pit - its definitely nothing similar to the BB S&T experience that it seems like you are looking for.

Feb 5, 2009

Thanks very much, trade_nrg. There's no easy google search that gives this info. Most Chicago trading is exchange-related, and I am indeed trying to move past this (just personal preference-- you can still do very well on the exchange floors, with the right setup, though in the long run this may change).

Anyone know other Chicago-based energy trading operations, or other upstairs trading desks?

Mar 29, 2011

Definitely Citadel

.

Mar 30, 2011

the best trading jobs are all in chicago. places like Getco, jump, Citadel, etc are located there. it's just a lot harder to get those offers than at the banks in new york, especially with an mba instead of a phd in astrophysics

Learn More

Boost your resume and land a finance job by passing the FINRA SIE. 264 pages & 1981 smart flashcards written by a former 8X top Fidelity instructor. Try it for 0 bananas here.

Mar 30, 2011

At those shops it really doesn't matter what you study. I was at one of the ones you listed above and the guy making markets in non-cyc(healthcare industry) had a degree in biology. It's all about how you mkt yourself.

Mar 30, 2011

that's like saying:

In the NBA it really doesn't matter how tall you are. I was on an NBA team and the guy playing point guard was only 5' 3". It's all about how you use your athleticism

yeah it's possible to get in/succeed at the super prestigious/well-paying shops with any degree, but to say that it doesn't matter is insane. jump, Getco, and to a lesser extent Citadel hire almost exclusively quantitative majors, often with advanced degrees. i wouldn't be surprised if there wasn't a single trader at Getco or jump with an MBA, and very few of the new hires at Citadel come from business schools either

Mar 30, 2011
arden:

that's like saying:

In the NBA it really doesn't matter how tall you are. I was on an NBA team and the guy playing point guard was only 5' 3". It's all about how you use your athleticism

yeah it's possible to get in/succeed at the super prestigious/well-paying shops with any degree, but to say that it doesn't matter is insane. jump, Getco, and to a lesser extent Citadel hire almost exclusively quantitative majors, often with advanced degrees. i wouldn't be surprised if there wasn't a single trader at Getco or jump with an MBA, and very few of the new hires at Citadel come from business schools either

I agree entirely with this. Getco and Jump almost exclusively hire very smart people from top schools with degrees in computer science/engineering/math/physics. There's very few MBA's. Citadel does hire about 3-5 MBA's each year, but I think it's more for their equity research role. Among students at top MBA programs, Citadel is one of the most coveted roles you can land.

Mar 30, 2011

there is no place that guarantees you to become rich quick. It will all depend on you.

Mar 30, 2011
eydey:

there is no place that guarantees you to become rich quick. It will all depend on you.

Where exactly did I say that I was looking for a place that would guarantee I would get rich quick...?

Mar 30, 2011

use the search function. if you have an MSF or a quantitative masters then yes MBA not so much.. unless maybe youre from booth or columbia

Mar 30, 2011

This topic has been done a million times. Use the search function.

Also, if you went to a top MBA program, there's no reason to do prop trading. Much better jobs out there where you develop actual skills that are more widely applicable.

Mar 30, 2011
Brady4MVP:

This topic has been done a million times. Use the search function.

Also, if you went to a top MBA program, there's no reason to do prop trading. Much better jobs out there where you develop actual skills that are more widely applicable.

just curious, why there's no reason to do prop trading? I thought prop trader pulls in more than say, associates at management consulting and investment banks, and many of them have good shot at hedge fund as exit OP, or am I missing something?

Mar 30, 2011
  1. google. There are tons of prop shops in chicago
  2. If your a proficent programmer you should market yourself as a algo trader?
Mar 30, 2011

But if you worked as something different to Trading and then get an MBA, won't you start off as a first year analyst with 22 year olds?

Mar 30, 2011
Comment