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prop trading at DRW, SIG, Jane Street
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Date: November 4th, 2011 11:16 PM Author: cheese-eating spruce becky field equivalent to Morgan Stanley/GS Investment banking in terms of prestige ? (http://www.autoadmit.com/thread.php?thread_id=1799593&forum_id=2#19302141) |
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Date: November 4th, 2011 11:17 PM Author: sable wagecucks in terms of pure prestige, no. but they're more selective, and if you do well, you can make a lot more money. the problem with prop trading is that you don't have that many exit options. (http://www.autoadmit.com/thread.php?thread_id=1799593&forum_id=2#19302157) |
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Date: November 4th, 2011 11:20 PM Author: cheese-eating spruce becky field tyty. Can you explain a bit about the exit options they have? (http://www.autoadmit.com/thread.php?thread_id=1799593&forum_id=2#19302177) |
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Date: November 4th, 2011 11:22 PM Author: Red startling foreskin corner they can go work at other organizations doing quant trading strategies - it doesn't apply to typical hedge fund or banking stuff
they can also do it on their own, move into more traditional trading positions perhaps, or just get involved in something completely unrelated with the pile of money they've saved |
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Date: November 4th, 2011 11:22 PM Author: sable wagecucks most prop traders at these top firms stay. part of this is the money and another part is that the kind of person who goes to work there does not want to do anything else. if you're a quant you could probably move into a quant hedge fund, and if you trade rate/currencies/commodities you might be able to move into a macro fund. but it's not a common move.
do you have interviews at these shops? |
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Date: November 4th, 2011 11:26 PM Author: cheese-eating spruce becky field A friend of mine has some interviews. (http://www.autoadmit.com/thread.php?thread_id=1799593&forum_id=2#19302228) |
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Date: November 4th, 2011 11:20 PM Author: Red startling foreskin corner i'd say working at jane street > industry prestige (maybe not lay prestige) than sachs ibanking
if you're at drw or getco doing well, you're making ~500K @ age 26 working til 6pm and doing something that's objectively pretty fun; don't really need exit options -- there isn't anything that's better |
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Date: November 4th, 2011 11:23 PM Author: sable wagecucks if you're a hardcore math/cs geek who is fascinated by algo trading, then yes, you would not want to leave a place like getco.
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Date: November 4th, 2011 11:27 PM Author: Red startling foreskin corner there's also some extreme satisfaction in (1) not having clients/investors and (2) holding daily positions and getting immediate results/feedback on your work (http://www.autoadmit.com/thread.php?thread_id=1799593&forum_id=2#19302235) |
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Date: November 4th, 2011 11:41 PM Author: sable wagecucks how do you know getco guys are making 500k/year at age 26? (http://www.autoadmit.com/thread.php?thread_id=1799593&forum_id=2#19302330) |
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Date: November 4th, 2011 11:52 PM Author: Red startling foreskin corner guys at 26 have often been there long enough to be playing with real money - and they are a wildly successful bunch that get a % of earnings + a pretty awesome base salary (unheard of in all but a few prop shops), so your income in only limited by the amount of money you're responsible for and how successful your trading is
i've heard figures like $500K over on wallstreetoasis and know a couple alums working there who seem to support that ballpark
from what i hear the high end upside, on the other hand, is significantly lower than top hedge funds since they're ultimately gambling with less money |
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Date: November 5th, 2011 12:00 AM Author: sable wagecucks ok, that makes sense. i know that base at citadel coming straight out of college is $100k. i think jane street is the same as well. (http://www.autoadmit.com/thread.php?thread_id=1799593&forum_id=2#19302436) |
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Date: November 4th, 2011 11:29 PM Author: Grizzly dog poop dingle berry DB. You will have way more exit options than prop trading. (http://www.autoadmit.com/thread.php?thread_id=1799593&forum_id=2#19302251) |
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Date: November 4th, 2011 11:29 PM Author: Grizzly dog poop dingle berry Hopefully I won't be too old when I re-apply next year at age 31-32. (http://www.autoadmit.com/thread.php?thread_id=1799593&forum_id=2#19302256) |
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Date: November 4th, 2011 11:30 PM Author: Grizzly dog poop dingle berry Info sessions at top b-schools are much more civilized and useful. That's just one advantage of going to a top b-school. (http://www.autoadmit.com/thread.php?thread_id=1799593&forum_id=2#19302260) |
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Date: November 4th, 2011 11:31 PM Author: misanthropic round eye Are you a bot? (http://www.autoadmit.com/thread.php?thread_id=1799593&forum_id=2#19302268) |
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Date: November 4th, 2011 11:31 PM Author: Grizzly dog poop dingle berry lol, Ted Williams gets these posts (http://www.autoadmit.com/thread.php?thread_id=1799593&forum_id=2#19302274) |
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Date: November 4th, 2011 11:32 PM Author: Red startling foreskin corner about 20-30% of xo poasters are
this one's moniker-switching mechanism appears to be broken |
Date: November 4th, 2011 11:38 PM Author: jet-lagged stock car clearly, people at SIG/DRW/Jane Street are significantly smarter than ibanking bros
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Date: November 4th, 2011 11:40 PM Author: sable wagecucks absolutely (http://www.autoadmit.com/thread.php?thread_id=1799593&forum_id=2#19302328) |