This thread is a cesspool of Chimps with 1-5 bananas too lazy to do their own searches. prop trading firm ranking (Originally Posted: 07/22/2007). Prop firms tend to interview many people, but they bring on few, and weed out the weak individuals that can't cut it in their first 12-18 months. top shops and banks also have better access to information, counterparties, and capital. WebChicago Trading Company Proprietary Trading Est Annual Revenue: $100m+ Website Industry: Proprietary Trading jsmith@chicagotrading.com Social: See all DRW Proprietary Trading Peak6 Investments Proprietary Trading Trillium Management, LLC Proprietary Trading Belvedere Trading Proprietary Trading IMC Financial Markets Proprietary I interviewed with CTC, and I am looking for either a prop firm or market making firm that pays a base salary in Chicago. For the last three years I've been in-house corporate doing IT Audit. but in very simple terms, there are smart people at both places, but i would say without a doubt that JSC has a higher average intelligence.). No different from T3 except they didn't take any contribution. My area of interest is prop equity trading. i am, however, very pleased that there have been a few real traders that have responded to this thread to give their input on a list (like you did) and also the industry as a whole. Firstly, thank you for your valued input. I know quite a few traders who left because they were dissatisfied working there. I am trying to decide between two (internship) offers and would appreciate any opinions on the aforementioned firms in the context of algo trading. Related Searches:All Trader Salaries|All Chicago Trading Company Salaries. There was a thread a while ago on SMB, and one of the partners came on in defense of it. Et necessitatibus et veritatis facilis. Not many pros compared to other prop shops. I really don't have any cons. Somebody make a market on the percentage of posters in this thread that are actually in the prop trading industry. The salary trajectory of a Quantitative Trader ranges between locations and employers. WebApply for the Job in Options Trader at Chicago, IL. The management makes their money based on the long term revenue stream from a sucessful trader. Just because theyre under the radar does not make them bad. be wary of any firm that pays no salary or a salary significantly less than the street. Unlimited upside with "only" the fear of getting canned doesn't seem like much of a trade off at 23. Cost of living across the world varies a lot, so this data gives you a sense if there are significant adjustments for higher cost of living. It is very difficult to break into those funds coming from a bank/prop firm, or even less - coming straight out of undergrad. Whats the best way to have a lack of compensation and incentive conversation in your department? This is the prop trading equivalent of the ibanking rank the bank threads. Many choices are made well above the level of actual developers, and we end up with really poor tech choices picked by people who haven't written code in 10 years, without input from senior or principle engineers. Not to mention, the client dependent businesses will go through a slowdown as I mentioned happens with most downturns in the economy. I would be targeting technical analyst or strategist positions at IB's. 1 Salaries submitted $253,372 $164,121 | $89,251 $200K $327K Administrative Assistant 1 Salaries submitted $48,645 $45,605 | $3,040 $41K $58K Intern They offer a $ 2,000 deposit. Any help is appreciated. The big giants have been in the business for years and know how to cope not only with interns but also with incoming analysts. A friend of mine is currently working for JaneStreet and he admittingly regrets having picked it over GS. does prop trading have a future in the next 15/20 years? Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling. I'm currently a trader at one of the firms you mentioned and since I've been working in the industry for 5+ years, I've met and become friends with traders from just about every firm that you mentioned. Doloribus fugiat ea iure fugiat odio eveniet. Most of the people there are out the door before they make any decent money. That and some well developed poker skill will hopefully bring good EV. I know of a couple that do not recruit, and are virtually unknown to the public. If salary is over $300k, we still show the max # but cap the length of the blue bar not to throw off the scale for the other positions. They have a great company atmosphere and very competitive compensations structures. Arcades are the modern day bucket shops which basically are making their money based on the commission they charge you to trade in addition to any % of profits that they take. It's smallish but growing a lot. The good Options Market Making firms are more aligned with quant trading than traditional prop. I really liked the people there. Many traders tend to want to NOT jump to HF's because of the added stress and uncertain future of the industry. You also have two number 3's and no number 8. As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. He got long size in oil futures oil went down 6 bucks and he was fired that took all of six weeks. It was founded by guys who used to work at Citadel. I have a question for you of my own. I personally trade only FX and I could not find a prop company that would only trade currencies. Et ut sequi voluptatem minima. See you on the other side! I am very pleased to see the prop traders on wso starting to come forward and contribute more. Archelon Group For interns and other positions that are paid hourly, weekly or monthly, we have annualized their base salary for easy comparison based on a 40 hour work week and 50 weeks worked per year. Firms that "scalp" (which is very very short term trading) are usually day trading firms and not very good long term career choices. "8) thanks for your reply. just wanted to say that i did NOT interview at all of those firms and i never said i did. The estimated total pay for a Software Engineer at Chicago Trading Company is $156,222 per year. We leverage highly sophisticated, internally developed systems to implement our trading strategies and maximize our short-term opportunities. Opens the Fishbowl by Glassdoor site in a new window, Experienced hires all say the same thing: the, are good in politics but not necessary on about how software development process works, Coming soon! That is why they are more focus in quality of trader rather than a flow of traders. Yes, it is possible to start off at one of these firms and later trade at either an IB or a HF. just some things to consider from someone who has experience with a bunch of thse places and has taken a break from this game after killing it last year thanks to vol. GETCO is a very large market maker, theyre also DMM at NYSE, they bought 350 slots at NYSE from Barcap. Wolverine Trading10. You should search for it. Looking at the WSO data, the city with the highest average salary is Chicago, where employees earn an average salary of $155,000. Doesn't matter if you make it at GETCO or if you do it at a sweatshop. Seriously? The risk averse thing to do (assuming your interest is prop trading) is join an S&T division of a big bank. thats about what i expected. Knight Capital Group is for sure the largest market maker (under prop firms) in US. is it worth pursuing for a younger kid in school? Pure spec on my part: It is what it is. Web37 subscribers in the ChicagoTechJobs community. The firm is incredibly collaborative. about HALF of their entire company has been with the firm for less than two years. But then again, if you are a good enough, quick enough trader (and lucky to some extent, of course) it is the right firm for you. Optiver5. where do they fit in? Can anyone share any Prop Trading recruiter names or guide me to an appropriate forum. Every firm on the list is a very good firm but just trades slightly different strategies or slightly different areas and products. SMB has a recruitment video on Wall Street warriors: http://www.youtube.com/watch?v=xJDEAMKKq5k. "5) If there was one of these places in Chicago that you guys would say stands out, what would it be and why?". Alias rerum quas cumque aliquid nesciunt occaecati qui. As with everything, there are trade-offs for anything. In addition to this, why would hedge funds that survive - the 10 billion dollar AUM funds - want to hire from banks when there are plenty of talented experienced professionals that went out of work through this massive consolidation in the industry? do they pretty much invite anyone who applies to these interviews or does making it this far mean they are actually serious about you? I'm currently getting 30 cents per thousand shares, but am obviously interested in getting the best deal. Full database access + industry reports: IB, PE, HF, Consulting, 25k Interviews, 39k Salaries, 11k Reviews, IB, PE, HF Data by Firm (+ more industries). http://www.mntrading.com/, anyone know transmkt's salary (specialty in terms of style of trading as I see they're ranked really well on this forum. With the exception of First New York Securites (since they use derivatives to hedge, and also trade options, fx, rates, commodities, and equities, which essentially makes them a multi-strat hedge fund), I don't think equity day trading is a good long term career move. Use our tool to get a personalized report on your market worth. WebCompensation at Chicago Trading Get Paid, Not Played We've negotiated thousands of offers and regularly increase offers by $30k+ (sometimes $300k+). Good points - I realize my perceptions may be wrong and I stand corrected. - dude, you do know that they are HUGE MARKET MAKERS right? The average salary for a Trader is $106,526 per year in United States, which is 68% lower than the average Chicago Trading Company salary of $333,326 per year for this job. "From a recruiting perspective, we lose a majority of the academically "brilliant" kids to prop every year." Opens the Fishbowl by Glassdoor site in a new window, Chicago Trading Company has an overall rating of 4.2 out of 5, based on over 102 reviews left anonymously by employees. Here is how I would shape up a top 10 list, and I did this based off of firms globally, since the best firm is in NYC, not Chicago. Should I stay in my role in a niche market? So, he is probably the exception this didn't go well for him. Since prop firms don't disclose returns, it is tough to rank them unless you know a lot about them or have worked at multiple firms. At the best firms, however, starting compensation is on par if not better than the street. I'd say that very few people have the stamina to stay fully committed to this industry over longer time horizons. Job Description. Chicago Trading Company; Infinium Capital Management; Wolverine Trading; Tower Hill Trading; Honorable mention for firms outside of Chicago: no base salary assuming the same level of experience as the bank trader 10mm book to actively manage. But then again, if you are a good enough, quick enough trader (and lucky to some extent, of course) it is the right firm for you.". prop guys at banks manage very large books. $ 156,222 per year. anyone share any prop trading industry to industry... Implement our trading strategies and maximize our short-term opportunities me to an appropriate forum trading recruiter names or me. Thread is a very large market maker, theyre also DMM at NYSE from Barcap good EV and competitive... This far mean they are actually in the prop traders on wso to. 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