Hi, I am going to graduate from a top undergrad business program in December. I worked at a hedge fund in Boston last summer as an analyst and I am currently seeking a buy side role in Boston. I have been following the stock market as a personal interest for years and I think prop trading would be really fun. I have a couple questions that I would really appreciate some responses to: 1) Is it worth taking a chance on prop trading right out of school? I don't know if trading would really show future employers that I have gained skills since school. Should I just go for a typical buy side career path and start as an analyst? Has anyone else faced this decision? 2) What are some prop trading firms (or desks) in the Boston area, or how could I find some? Any advice would be greatly appreciated. Feel free to email me at bostoninvest2@yahoo.com. Thanks!
http://boston.craigslist.org/acc/ Search here I saw some good entry level opp. in here one time. Good Luck.
Hi, I'm not sure and each individual's situation is always different... but I asked myself the same question right out of college... I think it might be helpful if you read my posting on the Paid to Trade thread about my experiences... I don't have specific advice but hearing about how I handled a similar dillemma might help you decide... Just a thought =)
Trading IS fun, but first and foremost, it IS a serious business. No one goes into prop trading for a resume builder. It is a risk that only the true entrepenuer should take. If you are looking for a steady paycheck and job security, prop trading is not for you. Be prepared for little or no earnings for your first year+, even longer if you dont have a good mentor. If you do choose to go the prop route, make sure you are 100% commited to the task and that you love what you are doing. Otherwsie it may not be worth it.
if you wanna meet alot of people, you should trade. i've met at least a hundred 22 year olds, seen them come and go. when it seems like there's no progress in your career, see if you still wanna trade. if so, dump your job and your girlfriend and expect to spend the next two years going thru the biggest emotional ups and downs you've ever known. if you come out alive and profitable, ask yourself if you're willing to spend practically all your waking hours on the markets. if you're complacent to making the sub 6 figure wage-like salary you were making, don't bother. you'll get burnt out real quick. i met at least another hundred 30 year olds who just gave up not because they weren't profitable, but cos their pay simply did not justify the time and stress. if you don't wanna do any of that, that's ok. trading isn't for everyone. btw, there are people making millions a year trading.
A few questions: 1. As an analyst, are you Fundamental, Technical, or other? What is your framework? 2. Why December? Are you graduating early? or late? 3. Why not an MBA?
Hi, Thanks for the responses so far. Please keep it coming. 1. I am familiar with both technical and fundamental analysis and am comfortable with both. Personally I believe in both. 2. I am graduating 1 semester early this Decemer. I have taken enough classes and I would like to start my career sooner. 3. I may consider an MBA after working for a few years, but MBA programs typically do not admit people straight from undergrad.
I am not surprised that trading has high turnover. The career concern bothers me. It seems like trading may not help advance my career much if at all, so if I quit I would basically not gain anything but also not lose anything other than time. All waking hours on the markets? I thought the markets are only open for 7.5 hours a day, 5 days a week so what are the other hours spent on? Isn't it pretty flexible since, if you have no positions, you can leave the market for a few hours?
I think he meant that once you get into the depths of trading, that more or less becomes your life. Even when the markets close for the day, your mind may still continue to think shop for the rest of the day.