Trillium Trading - How hard to get an interview with the firm?

Not sure, but they will be represented at the Prop Trading workshop this summer at the WSO Conference this year.

I heard that when you start you make $500/week. How the hell can you afford rent in NYC with $500/week?

I knew a kid at Trillium, he used to work there and now works out of another prop shop. I am not sure if the compensation changed, but they give you $25,000 for your first year + plus 30%-40% share of profitable trades. In the 2nd year, your $25k goes away, and your pay is based solely on profit. You'll know early in if you have what it takes to be a trader.

Do you guys known an estimation of the success rate? I got a interview, but not sure if I should pursue the opp. I have read through all the other threads, but didn't really get that much info on the success/retention rate?

Personally, for these prop shops, a lot depends on their training program...so really want to get a grasp of how their training program is

From what I know, to get an interview there is not that easy. They are very picky as they are known for risking/investing a lot into their new hires. I also know that traders with too much experience need not apply. If you had a solid college education, good grades, internships, competitve stuff, etc with lots of good examples of passion for the markets, you can get their attention. When I applied, I got a response from emailing their HR department. I got the address from the contacts tab on their website. I found it really hard to get through on the phone. I got the feeling it's very busy over ther. Hope that helped.

My advice is to look elsewhere. Companies like Trillium Trading are essentially boiler-room type places. In my opinion, if you want to work at a prop-shop, you need to try to get into a reputable firm with a good track record or else it's not worth it. Any place that pays you a draw should set off immediate alarms. Sure, you could have a good few years because you "figured" out the markets but I suspect it will not be sustainable for the long-term. You do not want to be categorized as a wannabe day-trader, unfortunately I've seen a lot of people falling victim to these kinds of companies so my advice is to tread carefully.

I applied and received an interview as well. Didn't go because the pay was miserable and I don't quite want to do trading that much. From what I've gathered, it's 500/week plus the 30-40% of earnings on trading with (I think) 400k (which is still terrible, 30% of 50% return in a year is still only 60k - huge taxes for capital gains from what I understand).

Also, main thing I've heard is that their training program is not very comprehensive or useful.

Anyways, to each his own. Good luck with whatever you do/get.

Also, IMO not very hard to get an interview. I'm a non-target with 3.5 and no trading experience and received first round interview.

^^^This. Not sure what the hell XDN is talking about either. Trillium is like many other prop firms. However, I will say that they give you a $400k portfolio to trade and while you can make a lot of money, if you don't perform then you will be let go. You can do really well if you are an amazing trader, but you can do very poorly as well.

Refer to my original post here. If they give you $25k as a base for your first year, in order to get by in NYC, you should atleast be making $55k. So you will need to pull another $30k from trading. Since commission is about 30% of profits, you need to make a $100k. You have a $400k portfolio, so a $100k is a 25% return. Making a 25% return in the market per year is hard as hell. So you gotta know if you have what it takes. Keep in mind, this is just to get to a $55k salary. Don't forget, in your 2nd year, I believe they drop your salary and are completely paid on profits. Its not a scam company, its just really hard. I believe there are some prop guys here that can probably go more in depth on this.

A simple google search yields "FINRA Sanctions Trillium Brokerage Services, LLC, Director of Trading, Chief Compliance Officer, and Nine Traders $2.26 Million for Illicit Equities Trading Strategy"

But still, when I say boiler-room, I'm not saying it's a scam. It is possible you could join there and "crush" the markets. Perhaps there is still some juice left in scalping equities based on technical indicators. But I would say jobs like these are essentially like playing poker. Sure, you could be an amazing player and make a killing at the high-stakes if you're successful. But if you end up bust, you have zero marketable skills.

If you're comfortable with a high-risk payout structure and don't mind the opportunity cost, then by all means give it your best shot. But in my opinion, you're better off pursuing trading roles in more proper channels i.e. market-making roles on the sell-side (ideally in some kind of derivatives product, stay away from cash equities) or algo market-making at places like GETCO. From there, you could try to move over to a hedge fund and take on real risk.

I remember years ago when I was interviewing for a S&T associate position and one of the MDs asked me where else I got an offer. I mentioned Wolverine Trading and he was like who? Now I happen to think Wolverine Trading is a legit shop but it just goes to show that a lot of these prop firms are nothing but tiny specks in the eyes of the traders moving real money around. If you look at the big trading picture in terms of hedge funds and major institutional firms like sell-side banks, pension funds, insurance companies, you cannot seriously include places like Trillium Trading in the same conversation.

I see a lot of good reviews about this company but frankly and correct me if I'm wrong, they only trade cash equities and equity options only? I'm looking to apply but I don't like being limited to one product. Any updates? I'm checking glass door and I see a lot of junior trades providing positive feedback. Listen, I don't have a doubt in my mind I can make money and 40% is actually pretty reasonable, given the fact that FNY is 40-60 split, as well but that's because they provide good amount of trading capital. How much is the average book per trader?

Had a first round interview there with no prior finance experience so likely not too difficult.

The first round interview consisted of a math test, ticker-recognition test, stock pitch, and behaviorals. Didn't get a second round interview.