Are traders at Proprietary Trading Firms paid a base salary? i applied to a financial positions (engineering looking for a career change) and got a response from one firm a few hours ago. It's a small trading company. There is no base salary and a minimum buy in, which is raising a bunch of alarms in my head. Is this standard practice? Do I have a reason to be suspicious?
best places have almost no guarantees but pay out the best %. if you are gonna gamble (since 99% fail) my as well have as much upside as possible that other 1%. my firm gives a stipend each month you later repay when you are profitable (or don't have to if you fail)- but then you get 50-60% of the profits you make trading their money.