I will be graduating from an Ivy school in the coming months and would like to pursue a career in proprietary trading. I was actively recruited by a firm called Hold Brothers in Jersey City, NJ for their Prop. Trader Trainee Program. They made the program appear very enticing through through the use of future pay projections. Is this a reputable firm/program? Are salary projections of $200-400K possible for 2nd yr traders? Please help!!!
Hi. I heard of the firm. But I think they are pretty new. As for the money, I think it's all up to you!!!! Do you have to put in any money??? What's the payout???
Capital is supplied by the firm. Payout is based on a hierarchical structure of profits with max payout of 85% and option of becoming a customer with 100% payout. Past/present employee opinions would greatly be appreciated!
If your GPA is very good, I'd recommend that you contact Goldman and some of the other top financial institutions. Your earnings potential at those place is astronomical if you are good and willing to work hard. 2nd and 3rd tier places often have to offer better compensation packages to attract good talent, so make sure you don't get to focused on potential income the first year or two. That being said: if you like Hold Brothers - go interview with them. If you like what they offer and they like you, accept their offer. If it doesn't work out, you're young and can probabaly afford to make a mistake or two before you find a good employeer.
$200-400/year is possible for maybe 2% of people. Do yourself a favor and don't waste your Ivy degree. Get a real job at Goldman, and $200-400k is almost guaranteed in 3 years. Self employment is highly over-rated.
some other place. If you have any special expectations from a "training program" you will be dissapointed. If you have a decent brain (and you should after all you have a decent college degree) try wall street if they turn you down which is entirely possible go try to raise some money from family and play the market. If you don't or can't - try these guys if they will fund you, fine. Wall street has many jobs that are different from traders and even if your title say sales "trader" or some other rendition of it you will not have the independence that you may seek in this profession. This is a the trade-off of being "secure" with a big paycheck or putting your balls on line and not eat if you don't "produce". Best of luck whatever you do !!! Cheers