I was wondering what prop trading firms offer a base salary in addition to the profits earned from trading. The only firms I could find were Heartland Securites and Triton Global. Thanks.
How do firms offer salary in this kind of market? What is the payoff...unless the training is so good that they expect your future worth to be much more which means you become a great trader. just curious. jc
Some firms have money flow agreements whith ECNs and make money by braking even. I guess they could afford to pay salary+insentive. But I dont know any such firm in my area(Philladelphia). Does anyone knows? Agras agras@hotmail.com
huh? What do you mean? Most institutional places offer such deal but the barriers to entry are rather high(top school grads, phds even, great credentials,etc.). Though as I said repeatedly, those are NOT necessarily the skills that make a good trader. but that's how the game is played. i know several wall st firms(gs,bear,ms,etc.) that had prop trading desks. they usually pay you a base of anywhere from 100K-250K depending on how senior you are and then a cut of profits. The cut varies. Probably as low as 7% and as high as 15%-18%. obviously, the payout is a lot lower than the typical prop firm. so would you rather get 50-80% of a few hundred thousands to a mil max doing intraday trading OR would u rather get a base of at least 6figures and a cut of 15% of maybe 20-30M? just to let you know. it's not ridiculous to assume there are places with base + cut. but they have slightly different requirements.. good luck trading! trader99
all the top firms still have thousands of prop traders. It takes credentials and personal connections to get in, a track record isn't good enough. They would rather hire 10 harvard MBA's knowing that 7 will blow out of the biz than hire 10 experienced traders with good track records. Its crazy but true, part of the old boy culture.