Well, cos' if you make it then you will not need a resume ever again ... but on the other side .... who would want to hire a loser who spent his best years sitting behind a computer screen biting his nails? See what I mean? Sad but true.
Because equity prop industry is a shady industry that has little legitimacy. 80-90% of the people are scumbags. It's not even real prop anyway, a resume from FNYS (true prop equity firm) holds serious weight, while one from Assent is worth sh*t. Futures prop firms hold weight cause it's real prop and you're an employee, equity "prop" you're just a client in an entity thats only a few notches above a bucket shop. And come on people, get real. For traders, you seem to completely disregard the risk/reward concept of entering the trading arena. 90% fail, why shouldn't he be concerned with the much more likely outcome. What if he simply wants to try it out, and his main goal is to at least get experience and then reevaluate whether he wants to spend the next 10-15 years glued to the screen leeching off pennies or try out for a hedge fund or mutual fund or money management or maybe smth completely different like actually working in an industry where you produce something beneficial to the world. Just call your group a hedge fund and leave on good terms. That's all you need to do and ur fine.
Traders provide producers and end users a way to hedge their risks, and fledgling companies to raise capital. Sounds pretty beneficial to me.
I think some posters do not have the right perspective in people going to give it a shot in trading at a prop shop. Most of those starting a career at a prop shop (like me) are young and have very little to lose. The worst thing that can happen to me is that I have to find another job. For some, they may lose their money they contributed. I view it as it's now or never with a small chance of riches and a large chance of walking away unhurt. Also, most of us youngins' don't have a family or any liabilities that would distract from taking the necessary risks and time to learn to trade well. Working at a prop shop would not look bad on a resume. In fact, it may be better than a lot other financial jobs put on a resume. Working at a prop shop shows that you are willing to take risks yet are smart enough to hedge them using someone elses capital. Employers are looking for the entreprenuerial spirit to be leaders instead of followers. How many of the founders of some of the largest companies had failed companies before they finally hit it big. I know the founders of Oracle, Sun Micro, and I even think I heard Bill Gates had a failing business. I think Oracle's had three. Many of these founders were called crazy when they first started. But I guess if you view entering the prop shop world as starting up a company, many people should call you crazy otherwise the potential probably wouldn't be there. Maybe it's the people who chose to trade from home with limited capital and the chance of a devestating loss to their own assets as...crazy. But those that do trade at home might consider going remote and saving their childrens college fund or at lease eliminate the risk of doing so. Money management is what makes successful traders right?
Hydroblunt, you are a f--king idiot. I am sorry you washed out of the industry. Actually no I am not, best wishes dimwit.
Prop firms will teach you to think and react "in the moment" and that's great for this job and maybe a FEW other jobs BUT most careers want people to think things threw rather then reacting. Thus prop would be considered bad.
Careers want people to make good decisions regardless of the time it takes to make them. People in managing positions have to make decisions on imperfect information and follow through with them. A CEO cannot know everything that is happening within the company (unless the company is really small) and they have to steer the company through obstacles to continue growing. When trading you have to make a decision in the moment. You can't call time or press the pause button, so you can gather your thoughts. The samething with managers, they have to make quick decisions otherwise their competition will leave them in the dust. People are hire for their potential not their entry level position. I still disagree with having a prop shop on your resume is a bad thing. Ultimately, a job is given to a person not a resume.
When I swing trade I use a totally different mind set and decision making process then when I intrday trade. I can see why an employer would not want an employee to be too reactionary is my point. I agree though people are hired based upon many merits not just thier resume but let's face it it does play an important role.