Transition from Prop Trading Firms to Banks?

Salute!

Monkeys, I have a couple of questions on prop trading firms in Toronto and making transition from prop firms to banks. This is a long post, but badly need your advice. Your advice or comments are much appreciated.

I worked in corporate finance for 3 years in Canada, but have been out of a full-time job for a year due to family matters. Now I am in Toronto, very interested in trading. But w/o any trading experience, I won't be able to land a position in the bank. I am seriously considering joining a prop trading firm in Toroton, learning as much as I can and making a transition to banks in 2 years or so.

Q1: I heard making such a transition is very difficult. But what if there is a good track record of trading performance you can show, also aren't the psychological and technical parts of trading highly transferrable?

Q2: If the experience with a prop trading firm alone is not enough to land a trading position in banks, what else you suggest me doing to improve my odds (trade some specific products in my own time? develop a good macro view? etc.)

Q3: I am looking at Everest Capital, Globus Trading, and Title Trading. What I really want is a good training/mentoring program that can help me get started and pay less unneccessary tuition to the market and develop trading skills that are transferrable. It just appears to me that Title is a HFT shop, and I will probably rely on their software to make every single trade, which will make it difficult for me to work for someone else. What could you comment on these shops regarding what a complete newcomer would need at his start. Any other shops you know to recommend? except Infinum and Orbixa (Infinum is too quant-focus to me and Orbixa, don't feel comfortable working with a successor of Swift given the SEC issues)

Sorry for the long post. Any advice or comments related are much appreciated! Thank you so much for your time.

 

Doloremque eveniet consequatur dolorem magnam necessitatibus eveniet quae. Voluptas non ad blanditiis nisi. Voluptatum repellat culpa provident facere quae. Sunt maiores ut porro aliquam quod nulla.

Reiciendis quae quae in expedita quia accusamus. Velit sapiente fugit eveniet ut mollitia. Maxime aut ullam quia optio. Aut facilis quaerat dolores impedit.

Competition is a sin. -John D. Rockefeller

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (87) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
Secyh62's picture
Secyh62
99.0
5
kanon's picture
kanon
98.9
6
dosk17's picture
dosk17
98.9
7
CompBanker's picture
CompBanker
98.9
8
GameTheory's picture
GameTheory
98.9
9
bolo up's picture
bolo up
98.8
10
DrApeman's picture
DrApeman
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”