Hi there! Would love to get some advice from people who are in the prop / quant trading industry; specifically what skills I should work on in the next year and if I need a masters degree to break into the industry. Some background: I just received my bachelors degree in Finance and moved out to Chicago to take a job with Schwab on their derivatives team. More specifically, I am the broker / rep for more sophisticated retail clients that are active options traders. Schwab is fantastic and I’m really enjoying working for the company, but my long-term dream is to be a trader. In five years I would really like to have secured a Senior Trader position at a top prop trading firm like Belvedere, Valkyrie, Akuna, etc. My question to those in the know is: what skills do I need to acquire within the next year or so to make me a qualified candidate for an entry level / junior trader role? I am worried that I just do not have the mathematical / computer science background to make me an ideal candidate. I have picked up some limited python skills from coding algorithms in QuantConnect to backtest some of my personal options trading strategies in my free time but I think a lot of the mathematical / statistical models these firms use might elude me. Do I need to go get a masters degree in applied mathematics / financial mathematics / computer science or can I develop these skills on my own? I have thought about possibly applying to U Chicago or DePaul next year if I’m not able to secure a junior trader role. What do y’all think? Thanks in advance. #trading #finance
Most of the traders I know had either an engineering or stem background in undergrad or a masters fwiw
Don't have an answer to your question but as someone also thinking of going into trading, wanted to ask: how do you know which prop trading firms are doing well? What made you mention the three that you did?
TC please
70k base. 8k bonus. I’m not salaried though, so I’m eligible for overtime and Schwab is generous with it. Time will tell but I believe I will be able to get a TC of a little over 100k.
Thanks! All the best