Interviewed with DC today... Here are some of the things I heard... "A guy who has been here 2 years is making 650k." "One guy works here 1 month a year...trades remotely, comes from Brazil to collect his checks and goes home." "4 out of 3000 resumes were hired last go around." "Most people working there are coming from Ivy League schools...all 3 owners are either from Yale or Cornell." "Offices for the company are in London, Japan, just opened one in Dubai..." Also, a lot of talk about hardly having to work at all, most people take 3-4 months of vacation. What's the deal...? 4 out of 3000 hired? How can i not be being lied to here?
Floor traders dont exist anymore man if you want to work for a IB on a desk you need to come with proper paper ie. MBA from University of Chicago or Wharton.
Simple, you ARE being lied to. My personal favorites... "4 out of 3000 were hired"-- How can you be "hired" if you're putting up capital? Anyone with a pulse and 5k can get "hired". "Most people take 3-4 months of vacation"-- Any shop where traders were taking 3-4 months vacation last year is a joke. Serious traders were CANCELLING vacations last year due to all the trading opportunities.
lol...it's amazing how many scumbags there are out there...shameless. i do believe there are people there with a lot of money, but they are silly trust fund babies. for everyone else (like us) who they try to pull in, there's a revolving door for the $5k candidates...it's essentially a pyramid scheme. i have an interview with merrill on friday. i have also worked at lehman doing temp work for 4 months and am pursuing an entry level position there as well. lehman is so incredible. i am gonna stick to the real deal and pursue my cfa and mba and learn the industry from people who know it. if the guy calls me back tonight to ask me if i have decided to drop another 5k into his grubby fingers, he's gonna get an earful from me... maybe the 4 out of 3000 wasn't a lie...except the 4 people were picked because they were the only ones dumb enough to stick around long enough to be "hired." Man, sometimes this world makes me sad...people these days...
you guys are confusing me. I thought prop firm is just a place that you open an account with to get leverage and their trading software, so you can trade? Now someone is saying some pay base salary? why would they pay base salary to hire you? I thought the whole point was similar to a client/brokerage type relationship.
Who are they hiring in Dubai? Are they hiring Asians and re-locating them to Dubai? I ask because there are several firms opening office there. Living there is damn expensive and the native arabs are dumb as a rock, not to mention extremely lazy. The entire place is run by foreigners, esp. asians.
Just had an interview with DC.... they tell me they are very selective... LOL so what does it mean? if I have well understood what you all said, I'm likely to get the job if I can give them 5k USD? ahuuummmm.... EDIT: Here is what the recruiter told me: They justify the 5k deposit by the fact that they are afraid the new junior traders might want to leave the company before 3 months.... in that case they take the 5k. But after the 3 months you're free to go if you wish so, and they give you back the 5k. Also, any single USD you lose on behalf of the company is going to be deducted from the 5k.... [But heeeey.... why would they have to do such a measure..... are there so many people who want to leave the company? Sounds suspicious to me but anyways....] So considering you do not leave before the 3 months and do not cause the company to lose money, you'll get your dough back... I will get the answer from the recruiter around the end of the week.... So what do you guys think? Thanks!
"uote from toaster22: Interviewed with DC today... Here are some of the things I heard... "A guy who has been here 2 years is making 650k." "One guy works here 1 month a year...trades remotely, comes from Brazil to collect his checks and goes home." "4 out of 3000 resumes were hired last go around." "Most people working there are coming from Ivy League schools...all 3 owners are either from Yale or Cornell." "Offices for the company are in London, Japan, just opened one in Dubai..." Also, a lot of talk about hardly having to work at all, most people take 3-4 months of vacation. What's the deal...? 4 out of 3000 hired? How can i not be being lied to here? " You ARE being lied to. They will offer u a "job" if you know how to write a check. Just go there, dont bring your resume and carry your checkbook instead. You will be "hired"
What are you all discussing here. Its just prop firm like any other, who ask for deposit. Nothing like job, its just like investing in somth. and trying to earn some money. The only lie is that they hire 4 out of 3000. Anyone, no matter if you are harvard graduate or even havent attended any school at all with 5k will be given opportunity to trade. And not sure if anyone at DC making 650k.