$ Traders, C++ Developers at Capital Mngmt firms?

Discussion in 'Professional Trading' started by INChicago, Oct 3, 2005.

  1. I briefly saw a financial statement on a 34 yr old fellow who was a trader for -?- Capital Management. He had a salary of $100+k and earned $200+k in bonuses. He has a couple million in net worth, and his job title is simply a "Trader" for a Capital Management firm. The firm he works for, as well as many others firms, have system developers who use C++, Linux/Unix programs in order to build system trading strategies.
    I briefly worked for a Commodity Brokerage firm in Chicago, and also spent a short time as a Financial Advisor for Merrill Lynch. However, I've come to the conclusion that I'm not good at bringing in clients, because I don't have the people personality, but rather more of an analytical/mathmatical mind.
    I presently hold my Series 7, Series 3, 66, and 30, and I'm obtaining some C++ and Linux certifications in order to apply for some positions with some Capital Management firms. I'd like to speak with those of you who may have quality information regarding these type of Cap mngmnt firms. I'm not necessarily interested in Prop trading firms, because it sounds like props bring you on board, rush you through their in-adequate training programs, stick you at a desk, then flush you out of the company at the first sign of a capital drawdown.
    On this forum, are there any traders or developers affiliated with capital management firms, or are most here self traders? Feel free to share any quality information you may have to offer on positions/employment details with cap mngmt firms.

  2. I guess no one here has experience or quality advice regarding Capital mngmnt firms. As a daytrader or prop trader, of course it is difficult, because you are relying solely on yourself to create a strategy, do the research, make the trades, and so on. With the mngmt firms, they have more than one trader, more than one guy doing the research, more than one guy developing the strategy/system. Basically, you have several minds working together to trade and be profitable on one huge account. This to me makes sense, whereas going it alone is very very challenging, hence the 95% wash out rate.

  3. As someone who has pretty much worked in all possible positions in this field, I think I can provide some insights in this area.

    How good are you in terms of the C++ programming you said you have some qualification on.

    It is very important that if you are not "trader" material, than you got to be a wiz kid in coding with in-depth knowledge in the financial data processing area. Wiz-kid are always in demand because someone who can code an arb program are good and can land a job, but a wiz-kid with ability to code an arb program that beat the rest by 1/2 sec are hot.

    If you are somewhere in between, then you better think it over about your edge and look for a job outside of the cap mgnt world.

    Your knowledge acquired so far is invaluable for other less competitive firms, as long as you are willing to settle for that.

    Take the time to sit down and think it through. Understand who you are and work from there.

    Good luck.
    beginner66 likes this.