if you go to GS ib you will not be able to trade your own money like some said. every time you make a trade, you'll need to fill out a form beforehand and have your managing director sign off on it, then maybe somone at the compliance department too. there will also likely be a holding period requirement (like you can't buy and sell the same security within 30 days). this is true for pretty much all the ibs. so if you take the GS offer you can forget about trading in the traditional sense.
true but it doesn't matter since there are hardly any real traders left at GS and at most IBs anyway, the great majority of their 'prop' guys simply trade off the tips from their sales desk... iow, they just front-run client orders... and u know why... because their best guys have long realized they don't need GS or the other IB's overheads, they can raise cash and get the infrastructure to trade without all the hassle... yaawwwnnn... anyway... u guys have a good week-end ;-)
Maybe I can say the following. Imagine you stand at a crossroad. Previously you were walking down a path. Smoothly. Everything went fine, you were a good trekker. You were happy. Then u see 2 pathways in front of you. You stand there, undecided which path to take. As you look closer, one path has a signboard with a town name u know. You know it's a big town where u can get supplies, buy new equipment. Then you look at the other signboard. It's a new town u've never heard of. But nicely promoted. The signboard is full of colours u like. It lists all the equipment u can get. Now u think u like this new town too. u don't know whether u should take the left path or the right path. Ur heart want to go to the right, to new town. It seems exciting. Doubts come to mind. But u thought u were a good trekker so far anyways. You believe u can handle any problems there. But u'r thinking should u? Left path seems too good to overlook. u'r undecided. So u try to ask for some guidance. You make a call from ur cell phone. To other people. Asking should you take the left path or the right path. All the people u call know the big town you told them. They advised u to go left. They don't know anything abt the new town. They said you shouldn't bypass such a big town. You told them the nice colours and long list of goodies in the new town u read from its signboard. Still they said the same thing. Go left. They said only a select few of trekkers can reach and enter that big town. It surely is better than any new town. If you bypass it this time, the seasons change and u may never have the chance again. Its path may be blocked by heavy snow. So they said. So u keep making calls. All the people u call say the same thing still. Some now say u'r stupid, make ur move already to the left. You hang up ur cell phone. You think....... You look again..... at the 2 paths in front of u..... and their signboards.... You have made up ur mind now. You then take that path. That path is the.... (to be continued) (only by you).
^dumb analogy. People here already know the big town (GS) and what the new small town (trading firm) is about.
No....not that point.....it's for him so he can decide, based on his personality.....it's a story to help him......
take the goldman job. trading requires you to make decisive decisions, often in a short space of time. the fact that you cant make up your own mind and would rather get the feedback from a bunch of people you dont even know says a lot about your make up. corporate america needs yes men like you who have lost their ability to think and make decisions for themselves. besides - i think most traders would take the goldman job anyway. it pays more guaranteed in the first few years and is risk free. so its a better trade. the markets will always be there if you leave. the fact you didnt suss this is a worry!
Re: trading or goldman sachs? I highly recommend not taking the trading firm job at this time. You need about 2 years of experience on your own trading before you will begin to see the good trades to take. You need to learn good directional analysis first, so you can see tops and bottoms forming. This is more important that the gamma, delta, theta discussions that are very confusing for new traders. I have never looked at any of those types of things. I don't believe them to be necessary to continue my success. Once, you can recognize tops and bottoms and have developed strategies to get out (having an out of the money long option, buying the underlying etc), then you may be ready to trade at a firm. The 150K salary will give you the grubstake needed to start your own personal account while learning. Trading is very simple contrary to most of the posters here, but it is only easy after you learn and have failure for a period of time. If you take the trading firm job now, you will most likely be terminated in a short period of time. I have no idea about whether or not GS would hire you if you didn't succeed at the trading firm --Don't take that chance--Right now, I think the fact that you are asking this question points out that you have a bit of gambler in you and you are in no position right now to make clear decisions in trading. --The 26 yr old was probably lucky and most likely overextended the firm's money. He may find himself out of a job at some point. Thanks for asking me these questions and write any time--
Do not call GS---this will tip them off that you may not have the correct attitude/discipline right now for what they are looking for