I scheduled an interview today and on the phone the lady that I spoke with said that there will definitely be an initial capital contribution required (a few thousand she said). My understanding was that this is not always the case their, that is that they make these decisions on a case by case basis. So if they told me upfront that I will have to put up money do you think it is for sure. It might seem like the answer is obviously yes but she also told me I will have to pay for the licensing exams (by the way do you guys know how much these are, the 7 and 55) but I have read on this discussion board that if you argue about this point they may pay for it. This leads me to belive that it's possible the contribution is negotiable too? Or is it. Any response appreciated.
What percentage of people who send them a resume do they invite into the firm. A small percentage a large percentage or is it 100%?????????????Just curious what the situation is.
Is WorldCo your only alternative? There seem to be a lot of low capital contribution deals around with better rates and better software than your going to get there. At the very least when you go into that interview you want to be able to drop names of other firms and have a good working knowledge of what the current environment is like. (if you don't know the details don't worry....you get PM'd. ;-) LOL. Best of luck. Avalanche
If your that guy that was really good at Chess....definitely talk that up. Those of us that know would consider that a lot more important that your GPA or whatever junk you took in college. Cheers.
Well what they look for is exactly what your nickname says. Young and Ambitious. You shouldn't have a problem if your GPA was decent. As for not bringing in any money... Thats usually only for guys with very high GPAs(3.8+) from Top Schools. But hey it all depends on your negotiating skills. Lil trick...If they ask for 5,000, say you can't afford it. Say you can afford 1,000. A measely few thousand dollars doesn't mean squat to them. You are going to lose that money most likely anyways. They just want you emotionally involved. There are a lot of guys who go to firms like Worldco get smoked and then go to another firm.
I know that worldco used to accept people with no contribution. But I've recently read that given the tough market conditions you either have to be experienced or commit capital. Can't lack both.
I never went there but I almost did when i was interested in daytrading. (I decided to stay retail as a swing trader and continue working for a living ) Basically everything is negotiable, so don't just settle on them. Most likely you will lose any money you put up, going to a place like worldco is mainly an experience builder IMHO. Knowing a lot about gambling and/or strategy games will help you.
Everything is always negotiable. If the decision maker there likes you and wants to give you a chance without a contribution, he will. However, if you make no contribution it is fair for you to accept tighter limits, and higher fees.
These jokers are the slimiest of the slime. They will first try to take advantage of your naivete when negotiating and then will nickel and dime you on everything conceivable. Then, if you ever get near being net flat (not gross), you will be asked to contribute more capital. These guys are real sports. Enjoy!