Lerner Trading Group

Discussion in 'Prop Firms' started by ndlarryj, Mar 23, 2004.

  1. ndlarryj


    Anyone know anything about Lerner Trading Group? Options trading co. in chicago?
  2. trying to find info as well. if anybody knows anything about this group please let me know. thanks
  3. i knew a rich lerner from the cboe floor...

    haven't seen him in a couple of years...
  4. Alright, I can tell you more now. I had an interview with them yesterday for a position as an options trading assistant (eventually an options trader). They are a small firm of 10 or so floor traders on the CME that build traders up from assistants.

    David seemed to space out during the interview; not very coherent. He couldn't provide me how the progress of the assistant trader is gauged to become a trader. I imagine there is some qualitative or quantitative properties aka milestones to know how you are doing as a assistant trader but he wouldn't give me any insight. It was my impression that something was shady with the him after the mid-way point and I walked out of the interview.

    I hope this helps to answer your question but good news; I got a job at another firm this week.
  5. I interviewed there about two years ago. I got to the final round, didn't get an offer, but eventurally found an offer at another larger firm. The pay for the clerking job is so-so (35 I think, I can't remember exactly), but that shouldn't deter you if you're looking for a start in the business. Many of the guys that trade at Lerner seem to be very good and probably make a lot of money.

    His group is small but well known on the floor. I think there are about a dozen guys now (I heard a few guys have been there for 10+ years, which is forever in this business, but I can't confirm that), plus a whole bunch of guys that trained there, traded for a while and went on to other firms.

    The main guy, David, if you interview with him, can be really difficult. He quizzes you, tries to break your concentration, etc. Now that I trade myself, I realize exactly what he was doing and why.

    The company is totally legit, the main guy is supposed to be a real ball buster, but that's the business.

    Good luck in your interview, you'll need it.
  6. cmac8133


    I have a group interview next week. Can you share what the group interview was all about and what he "tested" you on? Also any tips for me? Thanks.
  7. cimags39


    See you there cmac hope he's hiring more than one person. haha
  8. cmac8133


    Hey cimags, I actually accepted a position at a different company so I won't be there but please let me know how the interview goes, never hurts to have more information and who knows one day I might go to an interview, good luck with it.