Sales vs. trading side (trading careers)

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Mar 26, 2007 3:44 pm

I know this may not be the best place to post this since my topic relates more to securities trading careers rather than "financial adviser" or commonly called "broker" roles.  I figure there are plenty of experts here though, who can probably give some advice. 

I'm a recent college graduate, Finance major at a well-known university. I was recently given an offer to interview for an entry Equity Trader position at a NY-based financial firm.  From what I know, they offer a base salary + bonuses/incentives, and I would NOT have to put up my own cash starting out to trade. 

My concern is that I'm skeptical.  I always had the idea that these places only hire entry level traders if they come from Ivy Leagues or have PhD's and such.  Should I be?  Any reps here ever ventured into this side of the financial business? 

Any comments or advice would be great. 

Mar 26, 2007 4:43 pm

I traded prop for a while, got me my 7 but not much $$$.  If they are offering salary and you don't have to put up your own money it's worth a shot.  Do they let you trade your own strategies or insist on "their" startegies which usually involve high commissions and low risk for them and low profit and profitability for you.


Apr 5, 2007 12:24 am

i would consider, as long as they are funding ME to trade (at least starting out) not me funding THEM - i really can't afford that right now even if i was into that scenario



Apr 5, 2007 12:36 am
ExPropTrader:

I traded prop for a while, got me my 7 but not much $$$.  If they are offering salary and you don't have to put up your own money it's worth a shot.  Do they let you trade your own strategies or insist on "their" startegies which usually involve high commissions and low risk for them and low profit and profitability for you.




Any firm which "hires" you as a (prop) "trader" and then requires you to put down your own capital is a bucket shop day trading scam.....