Prop firm interview?

Hey guys. I'm interviewing for a trading job at a prop firm and I'm coming straight out of college. What are the sorts of things I should be expecting in an interview? Any advice from both prop firms and individuals who've interviewed from them would be really appreciated!

 

Math, and lots of it. Be able to answer 75 questions in under 8 minutes at 90% correct. If not, don't even bother applying.

 

I've already gotten past that stage, thankfully.

 

Might check out the book "Heard on The Street"
http://www.amazon.com/Heard-Street-Quantitative-Questions-Interviews/dp/0970055269/

 

Ah, I'll see if I can find this and read it this weekend. Thanks.

 

Try vault.com for some good information on S&T.

Good Luck!

 

I've had 4 thus far, all with no math questions.

It all depends on the type of prop shop though. If it is more quantitative (usually those with salary, ala Jane Street, etc), expect math.

In most other cases, have a good story of why you want to trade- very important. What characteristics make a good trader. Obviously know what prop trading is, failure rate in trading. Where you expect to be a few years down the road. How will you support yourself during the first few months or longer when things are rough. If you have past skills that will translate well to trading. High pressure situations you have been in. What you have done to get an overview of trading.

Also, keep up to date with big market news and such. But that should be a given. You should enjoy watching CNBC/Bloomberg, because that is what you will be doing all day as a trader in most cases. One interview a few months ago, I had past market news down cold as well as current events. But I got dinged for not having a good outlook for what will happen in the future. Big mistake, and that is when I ordered the WSJ and kept more up to date


Best of luck

 

The position is salaried with a movement towards weaning you off of that within 12-24 months I believe (although obviously I haven't had an offer letter).

 

Interviews for a prop trading position are a total joke. Don't sweat it. If they want traders, you will get in, unless you have no money, then you'll be at their mercy to get the scraps from the table.

 

Why do you want to be a trader?
Do you have any experience trading?
Where do you think the market is going right now?
Where do you see the market in 2 years?