Can anyone help me determine the salary range for a straight out of college, no relevant experience, options trader in a major city? Also any advice on preparing for a second round interview? First round included a written logical reasoning test and an interview with behavioral, job awareness, and finance questions, as well as some brainteasers and guesstimates. First interview was so tough that I have no idea on what to expect. Thanks for any help or advice.
I think you shouldn’t worry about your salary very much because if you are good you will do fine with bonus. If you are a good enough option trader, you will never have to worry about income. Second interview will be more about how will do you fit into the company and not likely as stressful (although I guess that depends on what you find stressful).
Tell us how it goes
my friend interviewed with a trading group last year with the VP of that group and the whole interview was “Tell me about yourself.” everytime he pauses, the interviewer would say “and?” The interview lasted about 45 minutes, and my friend got the job. so it has a lot to do with the style of the interviewer.
Base salary right out of college as an options TA would be anywhere from $30k-$55k, depending on size of the group and location. Depending on performance, bonus can easily be over 100% of base for a TA. If they didn’t ask you any options questions on the first round they may ask you on the second round. I’d brush up on some basic stats, expected value and Options Pricing and Volatility by Natenburg.
Thank you all for your input. The only options question I got during the first interview was: “Tell me what you know about options.” The second interview is tomorrow. Are there any specific option related (or not) questions I should expect, given that I don’t have the time to buy and read the whole options pricing book? And, yes. I will let you know how it goes.
Just say things like “volatility skew” and “pin risk” and he’ll think you’re cool.