Hi, I’m currently working in a front office role in an asset manager as an analytics analyst with the background in math (top 40 private school but lame gpa). I saw friends who work in tier 1 trading firms do earns like 3-5 times more than I do. And I’m quite fascinated by their interaction w/ the market and pricing strategies. As I’m still in early stage of the career, I’m thinking to make a change. Here are the plans that I thought: 1) CVN operational research/applied math (master) at Columbia and then apply through headhunters 2) full time master in math at top 10 institutes and then apply through new grad program. 3) PhD program in top 20 institutes and then apply through new grad program. I look at JS employees’ LinkedIn and feel like most ppl graduate from Bachelor degree as a prop trader. I wonder if there is still hope for me to get into a prop trading firm as a prop trader from my current stage. Thank you
What's your current annual TC?
Just 140K (~20K bonus )
Don't do a full-time PhD for the sake of prop trading. Even 5 years of casual poker will prepare you much better. Academic CS has zero relevance to actual trading.
Went through a few tier 1 prop shop interviews out of college, and have a few friends who joined. I’d advise you to really think carefully about this. The number of traders recruited into firms you’d want to join are way fewer than you think. And the guys that do get recruited are insanely mathematically quick and intuitive. They live, breathe, and eat Bayesian stats on a deep and fundamental level. And, tbh, a lot of them (not all) are arrogant dicks because of their success.
Quick, yes. Deep? Absolutely not. Most prop traders are nowhere near research level in stats or probability.
When I talk to ppl who work in prop trading firms in Singapore and Hong Kong, they are like they don’t hire many. I feel like they created an elite group that are surrounded by hard walls for us to enter
so ur friends... early stage in their career too... making 420-600k as analyst... i'm quite sure this is not possible lol
I don't see how long out of school OP is but that seems fairly reasonable for, say, 3-5 yoe at a top prop shop. Even a bit earlier than that for a top performer.
@sybS38 do you have any recommendations for my next step?
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If going to graduate school, do it in CS. You’ll be more attractive to prop trading firms and tech companies.
Will CS put me into a developer track than trader track?
It will put you on both tracks. Computer science is wildly over represented among traders. It’s also incredibly complementary to your undergrad education (a masters in math would be duplicative and wasteful).