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June 30, 2024
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doesnt this firm not pay a salary beyond the first 2 years? realistically, do you think its on par with firms that do....think about it. and this tactic of - we need an offer asap - thats a red flag - the firm that did it to me when i went thru recruitment was basically afraid i was going to get hired by someone else. they were dead on.
and remember, its employment at will. ur gonna be a trader, get some balls - accept and reneg later. u wont need these guys for FT if u get in at a HF or bank.
i kno someone who made a few mill with them after starting off for a few years... you take home half of what you earn... the potential to make that kind of money is there.
did NOT say they dont make money. that was not the point. there are shops where u can make a high base and a generous bonus - why the hell would he want no base? its called job security and he's young. i also know a 24yo who has made a lot of $$ and guess what - a decent chunk of it was in his base as he was promoted up to VP level.
i mean this ur personal P+L right? ie u rnt organized into desks or groups?
And how many products do they have? or do u just get exposure to equities and maybe options?
Essentially what you need to determine is whether or not you want to be a trader.
If you want to do analyst work at a BB then obviously don’t take it.
If you want to be a trader take it, the firm pays the same base as an Analyst would get at a BB.
Thank you for all of the advice everyone.
what?? He can be a trader at a BB - banks are not just for ibanking. and the base is actually slightly under, JC... if u get an SA offer in trading at a BB take it!
fafa do you have something against First New York?
Omega, could please discuss the hiring and interview processes at First New York? Thanks
They have a few senior partners ask questions about your cv and knowledge of trading - no brain teasers.
Are traders allowed to trade using whatever strategies they want, or do they have to use 'the firm's' strategy?
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