Hello, This coming week I have three IB analyst interviews in NYC. They are spread over three days, and so I thought to make my trip as useful as possible, why not try to cram in as many things as I possibly could. I was looking into trading, on CL among other places, and they seem like scams. Most of them advertise things such as, “Highest paid trader last year made 700k!” or other shock-statements. And, all of them are commission only. I make close to 80k right now, so I don’t think I will move to a new city to make $0. I was wondering if any traders here, can shed some light on entry level trading. I have already scheduled two trading interviews, and they seemed more eager to meet me, than any of my IB-interviews. If I told any of the IBs I couldn’t make it, I have a feeling they wouldn’t reschedule, but the trading guys seem almost desperate. Are all trading positions commission only? Should I be critical of any sectors or style? Swing, option, day…etc. Which is the most lucrative? Small unknown trading firms versus large? I will be in NYC for almost a week, so why not get as much info as possible, right?
Hello. There are many different kinds of trading jobs. Which specific types are you interviewing for? Job descriptions would be helpful.
if the trading guys seem desperate AND they want you to put your own money to work, what does that tell you? Surely as a law student, however miserable you may be, might be able to put two and two together. My personal advice is that if you cannot secure a role at a reputable bank or shop on the trading side, you’d be much better off starting your career in IB where possible. This is especially true if the trading shops you’re interviewing with want you to front all your dough.