trading for banks/hedge funds/ market makers

Discussion in 'Prop Firms' started by NDQnCA, May 17, 2002.

  1. NDQnCA

    NDQnCA Guest

    I have been a successful daytrader for about a year since graduating college and now my firm has become a victim of consolidation and closed its local offices. I am exploring all options involving trading- prop firms, pro firms and also the more corporate side of trading-

    I am looking to get into trading for a bank/ hedge fund or market making firm (one of the big brokerage houses- GS, merrill, etc) and am having difficulty finding advertised trading jobs. What is the best way to go about finding and securing one of these jobs? I know it is kind of an "old boys network" and very tough to break into. I have the determination and am very young, hungry and eager to learn. I feel that once I get an interview that I will prove my worth, but the problem is getting an interview in the first place. Is it considered bad form among these institutions to send in my resume for an unadvertised position? Will I actually get anywhere if I call recruiting/ HR directly and inquire? Maybe someone that works for one of these institutions could provide a little insight into the hiring process/ requirements (feel free to PM me if you don't want to post your response). Thanks in advance for the help/ suggestions......
  2. liltrdr


    First check out You might meet an actual recruiter or employee of GS. If possible, attent an ivy league school. Preferably Upenn, Columbia or Harvard. If not that, then NYU or a top 10 state school. Ignore what I've said if you've already done that. Network like hell. Contact Alumni, friends and family. old frat buddies. I had friends who've gotten into ibanking from my unknown state school. Good positions too. You might be better off just trying for firms in chicago. Pay can fantastic, rent is lower and I believe taxes are lower too. Check out And They're actively seeking traders now. And of course there's worldco. I think sonic is still around too.
    I'm kind of in your position. I've been amazed at the opportunities outside of wall street. I'm pretty much blocked out b/c I don't have the background. But other firms are still offering me opportunities. I just had to open my eyes. Good luck. It's a tough hiring environment. But it can be done!
  3. It's very tough to get one of those jobs unless you have a connection somewhere. Use your alumni network, friends of friends, relatives, etc. If you had stellar grades and are a serious student of the markets and can show prospective employers that you understand fundamental/technical analysis and market making strategies, you might have a shot. It's ultra-competitive to break into those blue-chip positions. You're competing with some academic superstars from the Ivy League. Package yourself as a trading expert, research hedge funds and market makers and their strategies and how you can contribute to their success, and send customized cover letters to key decision makers at your firms of interest. It's all about the marketing! Good luck!