Hi to everybody,
First of all, I would like to say thanks to this wonderful forum, since it is helping me a lot in understanding more about the the opportunities within prop trading. I've been always interested in trading, but always have seen the ibanking world as the only objective to reach. I know that this is a discussion which has already been touched many times (ibanking vs prop trading house) but my situation is somewhat particular so I wanted to get an opinion from you guys (since I also saw that there are many people who are actually already working for (or even are foudners of) prop houses).
My situation: I got a full time offer from a top US ibank after the summer internship programme but am starting to know better the world of prop trading houses. The offer I have is in a quant desk which works for hedge funds, within prime brokerage - where my duties will however also be to assist traders (eg in index arb trading) and do some trading related things. point is that i think i really am suited to trading and don't know whether, with an offer in hand, to try to do applications for prop trading houses (because i wouldn't move to any other ibank) . Do you think that actually it would be a wise idea to first start out in the graduate programme of the ibank and then maybe apply to a top trading house after 1 year experience or should i try this year and then potentially reject the full time offer i already have from the bank. Which are the really top prop houses in your opinion which have offices in London and for which taking the risk of rejecting my offer may not lead to repent? Moreover, since it is not so difficult to move within the ibank once you're in and I already know most of the traders on the floor thanks to the summer internship programme, would it instead be better to move to the trading floor of the ibank (and here the question of "trading in an ibank vs trading in a prop house" comes out).
Also from the perspective of applying to a prop trading house this year: what happens if in the end of the whole selection process I still decide to work for the ibank? Is it possible to try to go back to the prop house a year later if I see that indeed I would have preferred that type of environment?
The problem is that my dream has always been to arrive in the position that I am now, and now that I've achieved this I do not know whether I should abandon it.
Anyways, what I also wanted to know is whether applying to a top trading house after a 1 year experience in a top ibank is actually an advantage or not - since maybe prop houses prefer to have really "junior" staff instead of people that are somewhat already trained by the ibank community.
A quick overview on my skills:
Bachelors and Masters in Quantitative Finance
750 GMAT
Exchange abroad in Canada
2 Summer Internships in two different top Ibanks
Spring Programme and Autumn programme in another top ibank
My interests would be: Equity Vol Trading (preferably Indices), IRP Vol trading (Swaptions etc)
Thanks a lot for the help
First of all, I would like to say thanks to this wonderful forum, since it is helping me a lot in understanding more about the the opportunities within prop trading. I've been always interested in trading, but always have seen the ibanking world as the only objective to reach. I know that this is a discussion which has already been touched many times (ibanking vs prop trading house) but my situation is somewhat particular so I wanted to get an opinion from you guys (since I also saw that there are many people who are actually already working for (or even are foudners of) prop houses).
My situation: I got a full time offer from a top US ibank after the summer internship programme but am starting to know better the world of prop trading houses. The offer I have is in a quant desk which works for hedge funds, within prime brokerage - where my duties will however also be to assist traders (eg in index arb trading) and do some trading related things. point is that i think i really am suited to trading and don't know whether, with an offer in hand, to try to do applications for prop trading houses (because i wouldn't move to any other ibank) . Do you think that actually it would be a wise idea to first start out in the graduate programme of the ibank and then maybe apply to a top trading house after 1 year experience or should i try this year and then potentially reject the full time offer i already have from the bank. Which are the really top prop houses in your opinion which have offices in London and for which taking the risk of rejecting my offer may not lead to repent? Moreover, since it is not so difficult to move within the ibank once you're in and I already know most of the traders on the floor thanks to the summer internship programme, would it instead be better to move to the trading floor of the ibank (and here the question of "trading in an ibank vs trading in a prop house" comes out).
Also from the perspective of applying to a prop trading house this year: what happens if in the end of the whole selection process I still decide to work for the ibank? Is it possible to try to go back to the prop house a year later if I see that indeed I would have preferred that type of environment?
The problem is that my dream has always been to arrive in the position that I am now, and now that I've achieved this I do not know whether I should abandon it.
Anyways, what I also wanted to know is whether applying to a top trading house after a 1 year experience in a top ibank is actually an advantage or not - since maybe prop houses prefer to have really "junior" staff instead of people that are somewhat already trained by the ibank community.
A quick overview on my skills:
Bachelors and Masters in Quantitative Finance
750 GMAT
Exchange abroad in Canada
2 Summer Internships in two different top Ibanks
Spring Programme and Autumn programme in another top ibank
My interests would be: Equity Vol Trading (preferably Indices), IRP Vol trading (Swaptions etc)
Thanks a lot for the help
