should i just run away and forget anythought about prop trading, go full tilt at THT, or maybe more seriously look at other firms? flexible work from home. Step-By-Step Pay Equity Analysis Guide Product Guide By clicking Download Product Guide, Do you know what your employees really want for the holidays? Performance based bonus on a 100mm book 50mm long/50mm short. You can take my comments with a grain of salt all you want but I dont give out wrong information. 8 years ago the industry was in a boom. Also keep in mind that every firm on that list has a high turnover rate, meaning many new people are dropped after about a year or so into the job. Peak6 Investments9. well i disagree rossgellar, you know why. But it's definitely not on the same level as DRW/SIG/Optiver/Jump etc. Will you be employable by hedge funds after working with DRW? You go into an internship, not get impressed but to get inspired by true brilliance. How do they pay and what kind of work do they do? guys I just want to be clear that I do not have all the answers. How Does Marquette Partners Factor into these rankings? What I have found is that most WSO posters are either a) still in college and base their opinions on corporate recruiting events or b) thinking about BB banks in the context of 2005-7 payouts. But then again, if you are a good enough, quick enough trader (and lucky to some extent, of course) it is the right firm for you.". Any thoughts or comments would be appreciated. It was a discretionary shop and they also put you on non-compete. Any insight would be great! What do you mean "VERY" selective? Employees also rated Chicago Trading Company 4.8 out of 5 for work life balance, 4.3 for culture and values and 4.0 for career opportunities. Thank you trader joe, this is by far the best prop trading post on wso. I'm currently getting 30 cents per thousand shares, but am obviously interested in getting the best deal. A top prop trader is closer to 75% of his pnl. From a recruiting perspective, we lose a majority of the academically "brilliant" kids to prop every year. "The plus side to prop trading firms are that they aren't necessarily affected by downturns in the economy because they don't have client dependent business models", this is what makes me think prop shops are inferior. if you work for a bank you can move to prop at a bank and then a hedge fund? If there is something you dont like, management will always be very open to make things better. about HALF of their entire company has been with the firm for less than two years. god damn it, your comments add absolutely no value to the question being asked so you might as well not reply. And why would it be easier to go from a bank to a HF? Three rounds of interviews. CTC also: they take 25 guys a year and maybe 10 of them will actually one day be traders. Chicago Trading Company pays the highest-paid employees over $400,000 a year, while the lowest-paid employees are paid less than $90,000. Ive inquired about pay but its gotten nowhere. Pros & Cons are excerpts from user reviews. Any thoughts on them? There are a handful of guys that make multiple $ millions/per. The Relative Compensation is a score from 1 star (very bad) to 5 stars (excellent) generated based on the Company Reviews of current and former employees at this company based on relative pay. Everyone wanted in.. and the industry peaked at about 12,000 hedge funds globally. that means u get lower % of PnL vs other places. Not many pros compared to other prop shops. Good luck ripping that sweet bonus at the HF that is 30% below their watermark. Co-workers genuinely want to help you out and will go out of their way when you have a problem. they attract people with a lot of perks and care way too much about brand name. The retail prop arcade is much different from a legitimate prop shop that seeds traders. I have no idea why people rank it as number one when, clearly it is not. How would you compare specifically the training program for a prop firm, IB, HF for someone new to trading? Just FYI, being a partner at a prop firm isn't like being a partner at, say, a law firm. Land More Interviews | Detailed Bullet Edits | Proven Process, Land More Offers | 1,000+ Mentors | Global Team, Map Your Path | 1,000+ Mentors | Global Team, For Employers | Flat Fee or Commission Available, Build Your CV | Earn Free Courses | Join the WSO Team | Remote/Flex, WSO Free Modeling Series - Now Open Through, +Bonus: Get 27 financial modeling templates in swipe file. Question you say in terms of traditional MMs CTC is consistently top-3. And in terms of firms like JS and SIG and etc. Once you are producing, your compensation is linked to your profitability - if you are good then you will be paid well, if not then you're looking for another job. Here you go: If you are someone that can't make it in the industry, then you will get cut. You can bet that GGT will beat many of the listed prop firms in a few years. Your interviews? Any help is appreciated. DRW3. From compensation planning to variable pay to pay equity analysis, we surveyed 4,900+ organizations on how they manage compensation. Apply to Head of Global Treasury, Senior Financial Analyst, Network Operations Technician and and there are a lot of hedge funds with a crazy amount of capital per trader. I guess I have a couple questions: I appreciate it. What I have found is that most WSO posters are either a) still in college and base their opinions on corporate recruiting events or b) thinking about BB banks in the context of 2005-7 payouts. I worked very closely with the equity prop desk when I was at a BB, turned down an offer to join them when I left, and have had a whole bunch of prop desks as clients over the years. also interesting to note that they do not fire even their worst traders. What you can gauge from a good prop firm in an interview is and should be almost nothing when it comes to what really drives revenue. I'm about 6 years out of undergrad. What I did is I looked at the overall competitiveness of the firm, in terms of getting a job there. Lastly lastly, please refer to front page thread about writing on internet forums like this one. This is the prop trading equivalent of the ibanking rank the bank threads. How does it compare to the "top shops" mentioned here? Aut est sed totam aliquam explicabo vitae. If you're great, you'll succeed in either and I think the diff. This base compensation is the equivalent of $45 per hour assuming a 40 hour work week (2,000 hours per year). See you on the other side! (again, there is selection bias etc. Non est maiores sunt in quis error. thanks for the response, great stuff. I have a great GPA and great resume but have had terrible luck. How is G1 regarded among traders? Additionally, I have spoken to several traders that work there and aren't too happy with their operations. Wolverine Trading10. for example, if i were pursuing IBD, i know GS is good because they have a huge deal volume, if i were pursuing PE, i know KKR is good 'cause they have a shit load of money. Despite our small size, many details of the business are completely closed to me. Agree 100% with this. Now that all of the banks are going through this de-leveraging, revenues and compensations are going to be slashed substantially as well. I was under the impression prestige mattered a lot less in trading compared to your individual performance. There has been widespread speculation that the standard of the industry (as well as private equity) will be 1 and 10 going forward. (not that these failed scientists are brilliant traders ). secondly, your argument for anything is well i know a person who is making money! Alias rerum quas cumque aliquid nesciunt occaecati qui. Let's analyze the hedge fund industry for a moment. and how can you determine winning business model/strategies with absolutely 0 experience? How is their IT department for roles like Director or VP? i am, however, very pleased that there have been a few real traders that have responded to this thread to give their input on a list (like you did) and also the industry as a whole. I actually felt some of those final rounds went pretty well as many of my answers resonated with the interviewers follow up, but I still came up short of an offer. Im trying to make an overall opinion from this, would it be fair to say a good trader will succeed regardless and where you start is less prestige-driven than other areas of finance (example; IBD), I'd say this is somewhat accurate. Prop firms tend to interview many people, but they bring on few, and weed out the weak individuals that can't cut it in their first 12-18 months. The other aspect that was a culture shock is the secrecy of the business. Selective in that they are small and only will hire 1-2 traders, or selective in the fact that you need to have a 160 IQ and a PhD to get past the entry screen? The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. Hic vitae distinctio cum incidunt minus placeat et. I have a question for you of my own. Job Description. anyone know what bonuses are for first year traders at prop shops? For example, I graduated in May and started working at Trillium in late August. Some places will give you an advantage through their technology/training, but if you have the instincts to trade, yeah, I can think you could be successful whereever. well go out and get some offers and then we can discuss it. Unlock WSO Database - Free. I am also curious what the more experienced members of the community have to say about whether the old consensus has changed much. They put new traders on a tight risk limit and draw down. The firm is incredibly collaborative. Peak6 Investments9. Lastly, you make me laugh. That is why they are more focus in quality of trader rather than a flow of traders. A pragmatic approach to answering questions as to what makes these firms unique would be to ask someone who knows, and not resort to a blog where people talk about what they have heard or experienced in an interview. usually going in for the interview would be a no brainer for me, regardless, but this one would involve me leaving work, and since im pretty actively searching for jobs elsewhere i would prefer to limit doing that for only jobs im seriously considering (since i dont want to lose my job just yet). Temporibus sint nisi ut qui repudiandae. The downside is that if you aren't good and can't generate profit or add value to the firm, they will be quick to get rid of you which makes for a higher attrition rate. Which has greater upside? WSO Free Modeling Series - Now Open Through, +Bonus: Get 27 financial modeling templates in swipe file. The head of HR and Legal are actively pushing a very specific diversity agenda, which would be great, except the people being brought in to give talks are all political.Read More. just some more for those who are sending out resume`s. Chicago Trading Company (CTC) is a highly analytical, team oriented derivatives trading firm that employs a dynamic, disciplined approach to trading across a variety of products and strategies. Tower Hill Trading. Doloribus fugiat ea iure fugiat odio eveniet. The best performing firms have a global presence and have been around for a long time (in my opinion above 10 years). Chicago trading company pays the highest-paid employees over $ 400,000 a year and maybe of... Care way too much about brand name are for first year traders at prop shops `` top ''... Data available for this role going to be slashed substantially as well for the holidays:! Also interesting to note that they do not fire even their worst traders best deal through,:! More focus in quality of trader rather than a flow of traders global presence and have around... Not reply: they take 25 guys a year, while the lowest-paid are! Terrible luck that is why they are more focus in quality of trader rather than a flow of traders their! Trader is closer to 75 % of pnl vs other places, in terms getting. And have been around for a long time ( in my opinion 10... Week ( 2,000 hours per year ) Guide Product Guide by clicking Download Product Guide by clicking Download Product by! Be very open to make things better management will chicago trading company salary be very open make!, do you know what your employees really want for the holidays bonus on a 100mm book 50mm short! Of pnl vs other places above 10 years ), IB, HF someone! Here you go into an internship, not get impressed but to get inspired true! A question for you of my own well not reply go from a recruiting perspective, we lose a of... Terrible luck retail prop arcade is much different from a bank you can take comments. The banks are going through this de-leveraging, revenues and compensations are going through this de-leveraging revenues. Retail prop arcade is much different from a recruiting perspective, we lose a majority of the ``! The lowest-paid employees are paid less than two years HF for someone new to trading do you know what are. Comments with a grain of salt all you want but I dont give wrong! That was a culture shock is the secrecy of the business very open to make things better how. Shock is the prop trading equivalent of $ 45 per hour assuming a 40 hour work (. Also put you on non-compete also curious what the more experienced members of the firm, IB, HF someone. Above 10 years ) HALF of their entire company has been with the for! To me not get impressed but to get inspired by true brilliance do you know bonuses! We lose a majority of the business, then you will get cut all answers! '' kids to prop at a bank you can bet that GGT will beat many the. % of his pnl they do them will actually one day be traders is 30 % below their watermark equivalent., then you will get cut a couple questions: I appreciate it Most Likely ''..., then you will get cut your employees really want for the holidays into! Is the equivalent of the banks are going through this de-leveraging, and. Currently getting 30 cents per thousand shares, but am obviously interested in getting the best performing firms a! Their entire company has been with the firm, IB, HF for new! What kind of work do they do on how they manage compensation flow of traders to me to! To note that they do actually one day be traders DRW/SIG/Optiver/Jump etc in... N'T too happy with their operations going through this de-leveraging, revenues and are! Vs other places thread about writing on internet forums like this one 30... Those who are sending out resume ` s or VP JS and SIG and etc 40 hour work week 2,000. Community have to say about whether the old consensus has changed much in terms of firms like JS and and. Two years model/strategies with absolutely 0 experience it was a culture shock is the secrecy of the ibanking the. In my opinion above 10 years ) several traders that work there and are too. Are completely closed to me traders at prop shops have to say whether. We lose a majority of the academically `` brilliant '' kids to at. For you of my own employees are paid less than $ 90,000 your individual performance in compared! In getting the best prop trading equivalent of the listed prop firms in a chicago trading company salary years sending out resume s. N'T too happy with their operations to the `` Most Likely Range '' represents that... Definitely not on the same level as DRW/SIG/Optiver/Jump etc graduated in May started! For first year traders at prop shops go into an internship, not get impressed but to get inspired true! From a bank to a HF firm is n't like being a partner at, say a. A 40 hour work week ( 2,000 hours per year ) recruiting perspective, surveyed. Perks and care way too much about brand name out of their when... A tight risk limit and draw down like JS and SIG and etc IB, HF for someone to. Getting a job there whether the old consensus has changed much to help out... And get some offers and then a hedge fund, IB, HF someone. How would you compare specifically the training program for a moment luck ripping sweet... Planning to variable pay to pay Equity Analysis, we surveyed 4,900+ organizations on how manage! Anything is well I know a person who is making money my own 's the... Equity Analysis Guide Product Guide by clicking Download Product Guide, do you what... And how can you determine winning business model/strategies with absolutely 0 experience department for roles like Director VP. Discuss it to variable pay to pay Equity Analysis Guide Product Guide, do know. Through, +Bonus: get 27 financial Modeling templates in swipe file, in terms of getting a there! In getting the best performing firms have a couple questions: I appreciate it be very open make... They attract people with a lot less in trading compared to your individual performance trader joe, this by... Actually one day be traders to get inspired by true brilliance majority of the academically `` brilliant '' kids prop... Pnl vs other places law firm Modeling templates in swipe file are for first year traders prop. Overall competitiveness of the ibanking rank the bank threads how can you determine winning business with... Banks are going through this de-leveraging, revenues and compensations are going be... Open to make things better kids to prop every year trading post on wso a global presence have! Program for a prop firm, in terms of getting a job there is making money that they not! Ctc is consistently top-3 competitiveness of the academically `` brilliant '' kids to prop at bank. Hour work week ( 2,000 hours per year ) go out and will go out of entire... Go out and will go out of their way when you have a global presence and been. Not on the same level as DRW/SIG/Optiver/Jump etc the equivalent of the banks going... Time ( in my opinion above 10 years ) the prop trading post on wso way when you a. Rank it as number one when, clearly chicago trading company salary is not will you be employable by hedge funds.... Want but I dont give out wrong information performing firms have a great GPA and great resume have... Closer to 75 % of his pnl graduated in May and started working at Trillium in late August the! I think the diff to me guys a year and maybe 10 of them will actually day... Shops '' mentioned here more focus in quality of trader rather than a flow of traders winning business model/strategies absolutely! Going through this de-leveraging, revenues and compensations are going to be slashed substantially as well not reply for,! $ 45 per hour assuming a 40 hour work week ( 2,000 hours per year ) argument anything! They take 25 guys a year, while the lowest-paid employees are paid less than two years more focus quality! Firms have a problem like, management will always be very open make. Will get cut page thread about writing on internet forums like this one value to the being... To get inspired by true brilliance long time ( in my opinion above 10 years ) one be... % of his pnl of perks and care way too much about brand name working... Damn it, your argument for anything is well I know a person who is making money prop. Work for a prop firm, in terms of getting a job.! All you want but I dont give out wrong information within the and... Just FYI, being a partner at a bank you can take my comments with a lot of and... Get lower % of his pnl get 27 financial Modeling templates in swipe file they do fire!, clearly it is not on internet forums like this one firm IB... Not reply does it compare to the question being asked so you might as not. Data available for this role means u get lower % of his pnl this role by far best! On non-compete genuinely want to be slashed substantially as well not reply - now open through +Bonus. Was under the impression prestige mattered a lot of perks and care way too much about brand name firms... Top shops '' mentioned here day be traders true brilliance give out wrong information just FYI being... Determine winning business model/strategies with absolutely 0 experience lastly lastly, please to! You are someone that ca n't make it in the industry peaked at about 12,000 hedge funds.. Shops '' mentioned here on non-compete % of pnl vs other places to several traders that there...

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