Which are more selective for trading applicants BB/HF/Prop shops?

Which of these are more selective when looking at prospective traders (in terms of school etc)?

Commercial banks
Hedge Funds
Salary paying prop shop

 

It depends completely on which ones you are talking about. They also select for different things, although virtually all of the elite firms though recruit from a very short list of schools, which includes only a few non-elite schools and those are mostly only because of proximity (ie UIllinois/UWisconsin for trading jobs in Chicago or NYU in NYC). Very few actually look at any resumes emailed to them either and focus almost exclusively on the few schools where they do OCR.

 
Best Response
Jerome Marrow:
It depends completely on which ones you are talking about. They also select for different things, although virtually all of the elite firms though recruit from a very short list of schools, which includes only a few non-elite schools and those are mostly only because of proximity (ie UIllinois/UWisconsin for trading jobs in Chicago or NYU in NYC). Very few actually look at any resumes emailed to them either and focus almost exclusively on the few schools where they do OCR.

with HF and Prop I was referring to firms like

SAC Tudor Bwater

FNYS Trillum JSC

 

If those firms are not doing OCR at your school and/or you do not have some kind of connection to one of those firms, you are not getting a spot, pretty simple. TBH, you should do a lot more research on what you 'want' to do because there is very little similarity between that list of shops. I mean shit, you have everything from global macro HF to prop HF/algorithmic trading to market-making and everything in between. The types of candidates each of those places is looking for is very different.

 
Jerome Marrow:
If those firms are not doing OCR at your school and/or you do not have some kind of connection to one of those firms, you are not getting a spot, pretty simple. TBH, you should do a lot more research on what you 'want' to do because there is very little similarity between that list of shops. I mean shit, you have everything from global macro HF to prop HF/algorithmic trading to market-making and everything in between. The types of candidates each of those places is looking for is very different.

Actually, on that note, if my school is a regional target (Chicago), but I'm two years out of school will they look at my resume if I submit it online? Or is it that they only do face to faces after a career fair?

 
monkeysama:
Jerome Marrow:
If those firms are not doing OCR at your school and/or you do not have some kind of connection to one of those firms, you are not getting a spot, pretty simple. TBH, you should do a lot more research on what you 'want' to do because there is very little similarity between that list of shops. I mean shit, you have everything from global macro HF to prop HF/algorithmic trading to market-making and everything in between. The types of candidates each of those places is looking for is very different.

Actually, on that note, if my school is a regional target (Chicago), but I'm two years out of school will they look at my resume if I submit it online? Or is it that they only do face to faces after a career fair?

The vast majority of schools have online resume drops for these types of positions and that is how they get to see your resume, in addition to the career fairs (which is only one part of the process and not necessarily the make/break point). If you submit it online, it is unlikely to matter what school you went to because a lot of them just don't get read. I'm sure some do and if you reeeally stood out, you'd get a call back or put in the general pool of resumes to look over, but it is not the optimal route.

 

Also, where did you even get the idea these places take ppl straight from undergrad? I mean sure, they have taken a limited number in the past and I imagine they will continue to take them into the future, but it is a tiny number and they generally already have great experience (and connections). On top of that, if you're @ Tudor or BWater, you're going to be an execution trader and not on the way to PM and if you're @ JSC, you're more likely to be doing algorithmic development and programming than actual 'trading' per se.

 

What I meant by my original question is one firm more difficult to get in than the other if I am applying as a non-conventional applicant (hotshot connections only - academic background a disaster other than famous prep school). I am a very crappy writer so I will say this: my only shot at becoming a professional trader is though big deal connections I have who might ask their friends on the Street to help me, that sort of thing.

 
northeast1:
What I meant by my original question is one firm more difficult to get in than the other if I am applying as a non-conventional applicant (hotshot connections only - academic background a disaster other than famous prep school). I am a very crappy writer so I will say this: my only shot at becoming a professional trader is though big deal connections I have who might ask their friends on the Street to help me, that sort of thing.

You're retarded, bro. If you have that 'hotshot' of a connection, it shouldn't matter whether or not you even went to college. Your choice of school isn't going to hurt you anymore than your disastrous academic record will, so I have no idea why you are even asking such a stupid, inane question. If you have that poor of a background, but have connections to help you out, go wherever it can take you because beggars can't be choosers.

 

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