job choice help! Goldman Sachs or Trading Firm???

Discussion in 'Commodity Futures' started by carl1111, Jan 27, 2006.

  1. tomcole

    tomcole

    You claim to have a top degree, with honors, from a top school, yet cant differentiate between GS and some unknown trader. Did you learn anything in college?

    I dont believe your story and if it is true and you come to this board and are asking for serious advice, I'd suggest you talk to your school job counseling center and your parents.
     
    #11     Jan 27, 2006
  2. GS for 10 years...

    After 10 years....then go it alone.......
     
    #12     Jan 27, 2006
  3. MTE

    MTE

    I agree, having a degree from a top school and not being able to separate a GS offer from some trading firm is showing serious lack of common sense, but maybe they don't teach that in top schools.
     
    #13     Jan 27, 2006
  4. Let me reply in a different way, you posted about this very topic almost 3 months ago now. I will discount the thinking that no job offer will be open for that long. But what is troubling is the fact that you have trouble making up your mind. I apologize if this sounds harsh, but this indecisiveness is absolutely deadly to a trader, even to a lesser degree, an ibanker (let's say when you are competing for deals).

    You probably heard the saying that trading requires "balls", to interpret that means you will have to make gutsy decisions *every* time you enter the market, especially if you are trading some size. It is a gamble, there are absolutely no sure things. The last thing a trader should do, is staring at the screen, and thinking for 10-15 seconds and let the trading opportunity slip by, the time to act is *now*, assuming you have some evidence (model, etc), but it is still a big gamble after all For instance, I run an *automated* trading system, which means I can be indecisive (and I am an academic, so I can agonize over every little decision choices), right? No, I make educated (and some non-educated) guesses everyday, do I make stupid mistakes that cost me money (and sometimes a lot of money), absolutely, but that's the cost of making a real decision.

    Life is about choices, yes, in an important one like taking a first job, it pays to look at all the career pathes, get some advice, try to make an informed decision, etc. But make a decision, be clear to either firm, "hey, I am coming, and I am ready to plunge head first into a career with your firm, what can I do to prep myself further?" Be aggressive, make a commitment.
     
    #14     Jan 27, 2006
  5. #15     Jan 27, 2006
  6. esmjb

    esmjb

    why are you posting this question again? you just did this a few months ago. make up your mind already.
     
    #16     Jan 27, 2006
  7. I think this so-called "choice" is a no-brainer, if ever there was one.

    Unless perhaps you were trully allergic to the i-banking lifestyle... which I assume you are not, based on your summer internship.
     
    #17     Jan 27, 2006
  8. jrsteine

    jrsteine

    I was in your shoes 5 years ago after graduating from a top tier law school. Firms know you're broke, and flash a lot of money, take you to expensive dinners, pay for the best hotels, and show you how life would look if you joined their firm. It was tempting - especially with student loan debt. I gave it a go for several years, made a lot of money, built a rolodex of contacts, traveled nearly 90% of the time (sometimes a month at a time), and then made my choice to get out the corporate/commercial finance area.

    Looking back, I might have some remorse if I didn't give the finance area a shot. I loved the intellectual pursuit, though I made my choice to exit because I completely lacked a personal life. Life was one big business day and another new deal.

    The money should be a minor factor in your choice (unless you must face the debt demons). I saved most of the money I made because I didn't have any time to spend it. When I had time, I was sleeping or mentally exhausted.

    Follow your aspirations; money will follow. (Aspirations NEVER follow money).
     
    #18     Jan 27, 2006
  9. carl1111

    carl1111

    I appreciate the advice thus far. I would like to add a couple of things. First, this firm has an extensive training program which rotates you through both their trading team and information and news analysis team. After one year, you are placed on a trading team as you continue to learn and develop. You trade only the firm's capital as well. This position was posted at each ivy league school this year and they probably received a few hundred resumes for 3-4 positions. That being said, Goldman is no easy gig to land either. Does this change your opinion in any way?
     
    #19     Jan 27, 2006
  10. I imagine the trading firm is First New York Securities?

    Go with Goldman no question. As far as trading goes remember that Goldman does a huge amount of trading.....why not work there and try to make contact with some of their traders? You could end up trading for Goldman and have the best of both worlds.
     
    #20     Jan 27, 2006