If you are truly getting hired by a bulge bracker firm at 18 to take prop positions in the billions, then it's GREAT for you! Go for it! But I'm not sure what country you are in. Here, in the US, the recruiting process is rather competitive and very selective. A bachelors is just the bare bare min. at most bulge bracket firms. And not just any bs, but from preferably a a top 20 school and good GPA, SAT, extracurricular activities, etc. etc. Good interviewing skills. Good analytical and problem solving skills since they ask those types of questions to filter people out,etc. If you somehow found a shortcut to going to a top university and work your ass off to get a top grades and jump all the hoops(3 rounds of interviews at least at most American ibanks) then you must have found the greatest loophole ever! hehe. good trading! -99
I guess its a lot different over there in Europe. Prop trading at 16? Over here, its mandatory to have at least a bachelor's degree. And even that is useless unless its from an Ivy league school. I have a fairly high GPA from a decent university and most firms won't even look at me because I'm not Ivy league. Hey, come to think of it, maybe I should be applying to firms in the U.K. Can you hook me up London? Axe
Yep. Maybe you should. Not to say anything, but I went to a top Ivy League school. And even then, GS, MER, MWD, etc. all had like 3 rounds of interviews before they give an offer. So, they are trying to get the cream of the cream from an already good pool of students. But, of course, like I said before, none of this really determines if you will be a good trader or not. It's just a process of jumping through hoops.
Much worse in Europe. Companies are more bureaucratic and labor laws make it very difficult to fire employees so employers are even less likely to take a chance with somebody who doesn't fit the profile.
I have spent a year and a half just to get trial periods! Obviously I can not trade at 18 years old they wouldn't allow that but they have said within a year or so if you show you have the goods then it can be done, where I interned there was a guy of 24 who entered with a degree at 21 and in three weeks of finsihing classroom training was proprietary trading, he is a long term prop trader very good indeed. I had 17 phone calls to one firm alone and a few interviews with banks it certainly was not easy to say the least, but I did research what was likely to come up in interview, I did numeracy and psychometric tests so they were not a shock although the numeracy was easy, the reasoning and logic crap wasn't so easy, the guys I referred to who went in at 16 went in in the 80's when people worked there way up the traditional way, by starting in the back office just writing out deal tickets as they were manually written then, they would work their way up to position keeper, then asistant trader, then market maker, then prop trader, although most didn't make it past market maker even out of back office. In the 80's in London trading and brokerage just was not a sexy job, traditionall it was Essex wideboys who went in with no education they had left school at 16 some had A-Levels and left school at 18 like me to pursue a career in the financial markets trading or voice brokering. I decided a year and a half ago that I did not want to go to unviersity but I knew I wanted to be a proprietary trader so began learning about the job and have sent out over 200 curriculum vitaes and covering letters to head traders. global heads of fx etc. I may take a few year to reach prop trader but I am prepared to stick at it although I don't think it will be more than two years, my internship went very well. In regards to having the extra curriculars, I have represented my ocunty in sports and have over thiryty trophies and certificates from school in various contact and racket sports, so I was ohright there, I have travelled and keep various exotic pets(piranhas, mantids etc) done expeditions walking 30km in shit weather etc, it all added up as they discussed these things at iterview so I guess they were worth doing, they were quite enjoyable as well. Please don't think I am some arrogant thing who expects to stroll in and prop trade billion dollars at 18 that's the stuff dreams are made of, I have been a year and a half just to get an opportunity with a large bank, this is only the beginning I expect a hell of a lot more shit before I finally get the right seat!
"I have travelled and keep various exotic pets(piranhas, mantids etc) done expeditions walking 30km in shit weather etc, " allright "Bud Fox" Segrue we all know it's you now! That was entertaining rofl !