GHCO is the same owners now and then, which means its the same management!!!!! All decisions, especially important decisions (an so ALL company policy too) at GHCO are made by either Ralph or Chris the owners, plus their top management is still the same. Just look at their corporate history page and they will tell you how long ago all the top bosses joined, here is the link; http://www.ghco.com/learnAboutUs_leadership.aspx?subSection=leadership So any attempt to blame old management is just total BS. You did the right thing by turning them down. Fact is that you would be better going to a firm that offered a high split with a good reputation but no salary and getting a night job in a bar or something until you start making money as a trader. People get second and third jobs to pay for their kids college, some MBA and Medical/Law student need to get night jobs to put them through college but they do it short-term until they land on their feet its called hard work and is usually required for success, sure you may not work hard as a trader but the important part is your effort. Of course you can always take the lazy option of accepting the salary because it's convenient and then spend 4 years complaining that you made a mistake, or you can do what it takes to support yourself until trading can support you. If you set up your own small-business what would you do until you turned a profit, maybe get a second job, maybe a third too. What do you think a guy like Donald Trump would say or have done, he would have busted his butt and got the best long-term deal for himself. IMO to accept that offer is to accept that you can't take your future too seriously or that you value a social life more than you value success. NYC is full of firms, just do a search, Chicago too after all who said that you had to live in over-priced and over-rated NYC. If you have any interest in your future success then you will take the initiative and find out what jobs are available yourself rather than asking for exact directions to your dream job. Self-starters make the best traders, which is that they just get on with it. Good luck, and seize the initiative, you did the right thing in turning them down and besides having GHCO or any prop shop for that matter on your cv means that the only job you will ever get at Goldman's etc will be as a security guard or cleaner. IB's despise prop shops and see them as being for circus animals and side-show freaks, to take such a job then sullies you in their opinion. If an IB job is your dream then take an MBA and see if that helps but don't harbour any delusions that a firm like GHCO will open the doors to the likes of Goldman's quite the reverse in fact.