If you are really serious about trading, then best to get in asap ie. straight after uni even if your not paid too well intitially the trainign is extremely helpful and with the right mindset you can be earning reasonable money. Think about it in some countries degrees last till your 23 and in the UK, you have to pay a good few thousands to study for a masters which may do sod all for your job prospects. Here you get abit of money & relevent, professional training, so grab it, unless you find something better. It beats doing a job which pays but offers no career progression.
Hey Guys,
I believe Mettraders are doing another round of hiring at the moment. I have an interview with them next week anyway. Any1 else interview with them recently? Mine is with two traders. Just wondering if they grill grads on their market views or should I expect to be asked moreso on my cv and so on?
Also I believe there is a numerical test. Just a standard 20 min 20 questions with shl?
I believe Mettraders are doing another round of hiring at the moment. I have an interview with them next week anyway. Any1 else interview with them recently? Mine is with two traders. Just wondering if they grill grads on their market views or should I expect to be asked moreso on my cv and so on?
Also I believe there is a numerical test. Just a standard 20 min 20 questions with shl?
traderboi29
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Hi smithe7. How did you get on?
I had a numerical test and interview with them recently and have been offered a place. I need to make a decision in the next few days and am pretty sure I'm gonna take it. If anyone has a good reason why I shouldn't, speak now or forever hold your peaceThe only thing that was a slight turn off is the lack of salary for the first 3 months...but I guess that is gonna be the same anywhere and is probs worth the struggle if I am making decent commission after training period is over.
Re: pay...there is an article on the efinancialcareers.com website in which Danny Kessler of Met Traders says that there are 23yr olds at the firm making half a mill a year. Altho these traders may not represent the norm it does show that such earnings are possible at MET. Does anyone have any idea on what the average trader might be earning in their first year trading STIR futures (on 50% commission)? Thanx
they may be making 500k a year but they forget to mention that most prop traders are self employed unless you work for a bank. so that means you have to pay VAT and your own tax bill which is 40%, so they could be making £500k but more like taking home £300k after deductions, still good though!
NetTecture
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Why exactly are they paying VAT? I see no reason why they should pay any VAT. do not live in the UK, but europe, and the VAT system is the same all the way.
Even IF (!) (and I doubt) they would have to add VAT to the invoices, it would go to the arcade's side (i.. they charge x + VAT), and the VAT would then reclaim the VAT from the government, as they have no VAT income (obviously). Now, do not say the government does not pay that Mine does - I have a small business and zero VAT income, because all our customers are out of country VAT deductabale businesses, so we do not write VAT on the invoice, and MY government happily refunds me the money
Also, do not forget that as independants they can actually deduct possibly a LOT of expenses. Business meetings, business car, allowance for spending etc. Being creative, without lying etc., can help you not exactly saving money, but funnelling some of that money into things that you enjoy (like a nice car).
That said, I am happy to live where I have a choice to tax "income from business activities and capital gain" with a flat 19%
Even IF (!) (and I doubt) they would have to add VAT to the invoices, it would go to the arcade's side (i.. they charge x + VAT), and the VAT would then reclaim the VAT from the government, as they have no VAT income (obviously). Now, do not say the government does not pay that
Mine does - I have a small business and zero VAT income, because all our customers are out of country VAT deductabale businesses, so we do not write VAT on the invoice, and MY government happily refunds me the money Also, do not forget that as independants they can actually deduct possibly a LOT of expenses. Business meetings, business car, allowance for spending etc. Being creative, without lying etc., can help you not exactly saving money, but funnelling some of that money into things that you enjoy (like a nice car).
That said, I am happy to live where I have a choice to tax "income from business activities and capital gain" with a flat 19%
arabianights
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They are not paying VAT (financial companies aren't even allowed to register for VAT afaik) and locals on 500k per annum are usually (not always mind) more sensible than to remain a sole trader and pay 40% income tax/CGT on their earnings... see an accountant/make up your own cunning scheme!
tripleogstar
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these prop firms, from what i've heard, they place a lot of emphasis on technical analysis
amargathani
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hello guys,
Has anybody finally accepted the offer.How was the numerical tests ?????please do share the experience
Has anybody finally accepted the offer.How was the numerical tests ?????please do share the experience
Hi all,
I have just received an email inviting me to an interview, has anybody recently had a successful interview with MET? I would be grateful if you could let me know what kind of numerical test they will give and possible interview questions to help me prepare.
I have already read the previous posts, but just wondering if any of the processes may have changed since 2007/8.
Many thanks
I have just received an email inviting me to an interview, has anybody recently had a successful interview with MET? I would be grateful if you could let me know what kind of numerical test they will give and possible interview questions to help me prepare.
I have already read the previous posts, but just wondering if any of the processes may have changed since 2007/8.
Many thanks
Hi sabotarj, did you go to the interview? How did you find the test? Was it similar to an SHL test?
Hope it went well for you.
bobdiamond
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Its really hard to find info about MET on the internet so ill give my 2 cents.
I applied online through a third party website which only required my CV. I got a phone call a few days later inviting me for a numerical test. The offices arent in central which is a bit annoying to travel to, but apparently they are opening new ones in canary wharf soon.
The offices are nice enough, everyone has about 6 six screens and it seems quite chilled.
Anyway the numerical test is just simple maths questions, 20qsns 10mins or 20 mins i forget, like 34x324 = ? Not like SHL in which they try and catch you out with graphs and crap like that. The pass mark is 80%.
After the numerical test I was given a financial test. Apparently this test doesnt impact your chances of getting an interview. they just want to see how much you know. The questions are qualitative and quite easy.
After i finished my tests i was notified of an interview. The interview was with the head of training programme. Seemed like a very clever guy. The interview is KILLER. prepare to die. I think they want to see how you perform under pressure. not so much how you answer the qsns. I recall being asked 3 questions at a time at one point, like 2 maths qsns and one personal qsn so your brain starts to hurt.
I was invited back for another interview with the founder of the firm, it was quite informal and grilling again. he was working while the interview was taking place so its quite odd.
I got an offer the next day. Any questions please dont hesitate to ask. I will be reluctant to answer any question that helps identify me, you know how it goes...
Apologies for any grammatical/spelling errors.
I applied online through a third party website which only required my CV. I got a phone call a few days later inviting me for a numerical test. The offices arent in central which is a bit annoying to travel to, but apparently they are opening new ones in canary wharf soon.
The offices are nice enough, everyone has about 6 six screens and it seems quite chilled.
Anyway the numerical test is just simple maths questions, 20qsns 10mins or 20 mins i forget, like 34x324 = ? Not like SHL in which they try and catch you out with graphs and crap like that. The pass mark is 80%.
After the numerical test I was given a financial test. Apparently this test doesnt impact your chances of getting an interview. they just want to see how much you know. The questions are qualitative and quite easy.
After i finished my tests i was notified of an interview. The interview was with the head of training programme. Seemed like a very clever guy. The interview is KILLER. prepare to die. I think they want to see how you perform under pressure. not so much how you answer the qsns. I recall being asked 3 questions at a time at one point, like 2 maths qsns and one personal qsn so your brain starts to hurt.
I was invited back for another interview with the founder of the firm, it was quite informal and grilling again. he was working while the interview was taking place so its quite odd.
I got an offer the next day. Any questions please dont hesitate to ask. I will be reluctant to answer any question that helps identify me, you know how it goes...
Apologies for any grammatical/spelling errors.
bobdiamond
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Cant answer your qsn Pi3141 sorry.
Most people are from a finance background. I think it may be difficult to get the inital interview if not from such a background, only because of the number of applications received. I think they understand that being a successful trader isnt really dependent on your level of financial knowlege before joining the firm. There is an extensive training period to get everyone upto speed.
Most people are from a finance background. I think it may be difficult to get the inital interview if not from such a background, only because of the number of applications received. I think they understand that being a successful trader isnt really dependent on your level of financial knowlege before joining the firm. There is an extensive training period to get everyone upto speed.
lucianstone
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Hi there,
I've recently been invited to test and interview with MET and was wondering if you could answer a few questions from your experience.
I'm assuming the numerical test is the generic 'trader test' - rapid mental maths style questions?
With regard to the interview, will I need to do some brushing up on futures/general technical aspects of the role, or is it focused on learning about me and how I cope with pressure?
I've recently been invited to test and interview with MET and was wondering if you could answer a few questions from your experience.
I'm assuming the numerical test is the generic 'trader test' - rapid mental maths style questions?
With regard to the interview, will I need to do some brushing up on futures/general technical aspects of the role, or is it focused on learning about me and how I cope with pressure?
Hedge Fund Wizard
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lucianstone, what is your academic background and what work experience do you have to date?
lucianstone
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BSc Mathematics and just finished an MSc Financial Management.
In terms of relevant work experience, none beyond a week in Private Equity Ops and some brief daytrading of my own.
In terms of relevant work experience, none beyond a week in Private Equity Ops and some brief daytrading of my own.
I've never really met many traders except myself, but something tells me, they're awesome
They're not awesome by any stretch....just regular
guys and girls trying to make a living independently. Nothing separates them from a shop owner, stall holder, car salesman etc, other than the fact that it is sold as a glamorous job by the media. The fact is very few make a decent living out of it, and by that I mean making upwards of £75K. For the record, I didn't make it trading and feel no shame or bitterness in it. But does that make the ones that do awesome? I'd say not. Does it mean they've got great discipline and money management skills? Yes. To make it as a trader is an awesome accomplishment and I tip my hat to anybody that has, but as a person, all they are is a successful businessman/woman. No more, no less.