The new SMB 5-year career path program

[Avn_0903]

If you have been looking for trading jobs at SMB Capital, you would probably notice their ad about their new job. It's a 5-year career path that train u for 6 months, let u trade for 5 years and then at the end of it u have the chance of trading their 10mm-30mm hedge fund. I was accepted to to this new program. However I was asked to pay $7,000 for the training. The original cost of the training is $10,500 and I got 3,500 in scholarship. When i asked them why I had to pay for training even when i was a recent college graduate, they said their old policy was that college grad didnt have to pay for training but now when they have combined with T3 for the training program all applicants have to pay the cost.

What do you guys think about this? Is it worth the $7,000? Are there any1 in the same boat as me?

 

[pboyles]

Its not a job if you have to pay them to do it.

 

[socaltrader]

If you have been looking for trading jobs at SMB Capital, you would probably notice their ad about their new job. It's a 5-year career path that train u for 6 months, let u trade for 5 years and then at the end of it u have the chance of trading their 10mm-30mm hedge fund. I was accepted to to this new program. However I was asked to pay $7,000 for the training. The original cost of the training is $10,500 and I got 3,500 in scholarship. When i asked them why I had to pay for training even when i was a recent college graduate, they said their old policy was that college grad didnt have to pay for training but now when they have combined with T3 for the training program all applicants have to pay the cost.

What do you guys think about this? Is it worth the $7,000? Are there any1 in the same boat as me?

I'm considering their offer as well for a career change. They also offer remote training if not in NYC. Their training to "read the tape" seems interesting. I haven't decided what to do yet. Any suggestions?
Thanks,
Mitch
[email protected]

 

[vvv23]

I'm considering their offer as well for a career change. They also offer remote training if not in NYC. Their training to "read the tape" seems interesting. I haven't decided what to do yet. Any suggestions?
Thanks,
Mitch
[email protected]

HI
what did you end up doing?
was it worth it? you made your money back? in case you accepted the offer.
thanks

 

[aridavidpaul]

Very, very, very few people make meaningful money "reading the tape" in liquid products. Successful traders have exceptional edge. Sources of edge:
The very best technology in the world (e.g. working at GETCO with super low latency)
Seeing customer order flow (e.g. working at a big bank)
Market making a product with a wide bid/ask spread (e.g. options market making at SIG)
Having a deep understanding of a market with good connections to gain specialized information (e.g. distressed debt trading at DE Shaw)

"Reading the tape" is not an objective skill and no one will value the education you're paying for. There are a small minority of individuals with a special intuition for tape reading who may benefit from a formal program, but they are few and far between.

 

[virtuoshi]

If they can really train your as a competent trader, it's certainly worth $7,000. I'd pay even $70,000 to be trained a successful trader. But it is not done in the form of a "job".

 

[anley]

let u trade for 5 years and then at the end of it u have the chance of trading their 10mm-30mm hedge fund.

Yes, sure that's going to happen. Have they actually got that money deposited for starters, or are they just saying it? I'd bet on the latter.

Looks to me like just another wheeze to get people to pay for training, ie a big fat carrot in front of the donkey.