Typical trainee trader compensation package at a prop firm

K

KnifeEdge

Junior member
Messages
26
Likes
0
Hi guys, I have an interview in a couple weeks with a European prop trading firm in Hong Kong for a trainee trader position (i'm a fresh grad) and was wondering if anyone could gimme any info in regards to typical compensation for this type of position. I was asked to provide an expected salary during a preliminary screening phone call but i postponed it till the face 2 face since I didn't have enough information.

The firm I am interviewing with is similar to IMC, Optiver, All Options, and Tibra. As I am also looking at the bulge bracket banks I provided a range of 30-50k HKD/month which at the current exchange rate works out to about 46-77k USD/yr before bonuses. I know that typical prop firms would have a much lower starting salary and greater emphasis on performance based compensation.

Please if you have any experience with a comparable firm or just know anything about this topic please post as I am sure other members would appreciate this information as well.
 
... really any help would be appreciated

I'm not trying to just get free info without doing any work. I've just reached the limit of what I can find out on my own. I've heard of people who claim they've gotten a 100+ k/yrd b4 bonus position with Optiver but obviously that's not the norm. The reasonable range I've got it to is 46-77k USD/yr and was just hoping to find a few more data points.

If what i'm trying to do is frowned upon on this forum please let me know and I'll edit my posts but if you're gonna reply please reply in such a way that its constructive.
 
I don't think it's frowned upon, I just think it's pretty funny that someone applying for a role as a trainee would describe their pay as a 'compensation package' - unless you're expecting health insurance and stock options to be part of the deal, just call it what it is - how much you're going to be paid.
 
Ah, I'm sorry I misinterpreted you. What I meant by compensation package was salary + bonus which is as far as I know customary in both bulge bracket banks and prop firms. I wanted an idea of what the total pay would be at a prop firm on average given you're not losing ****-ton of money or one of those 1 in a million star traders.

I really just want a shred of real world evidence ... even if it is anecdotal so that I'm not entering negotiations blind. I know that it's good to be paid at all as an entry level trader as a lot of new hires aren't up to the job but I don't wanna get totally screwed either.
 
Ah, I get you. In that case I know a few guys in trader roles at these kind of companies, and I know that the base isn't mind-blowing, but the bonuses for people who perform well can be chunky. I'll probably be able to get some specifics tomorrow.
 
FWIW I'd reckon that your range for a base of 46-77k would be on the high side of what you could expect, but I can't base that on more than a couple of companies. I'd say anything over 50 would be very, very high for a brand new grad trainee. Could well be wrong though.
 
Yeah, that's just my extrapolation from what I know to people have gotten in trading roles at big investment banks in Hong Kong in the past 3-5 years. A friend of mine gets 60k USD b4tax in the banking side which I know to pay pretty similar to the trading side at grad analyst levels.

I don't expect the prop firms to match this level so realistically I'm thinking something between 40-55k USD which is fine by me especially with Hong Kong's low tax rates AND the fact that these prop firms don't have the same caps on bonuses as the ibanks (not that i'm expecting to be hitting a 1000% bonus anytime soon)

All i'm interested in right now is learning as much as I can and making enough money that I'm not sucking up my family's resources like i've been for the past 22 years.
 
Being a trader can land you an FHM girl !?!?!

Lol

Haha I'd be lying if I said i wasn't motivated by money (and aforementioned girls and Ferraris). But I'm also realistic enough to know that not everyone who gets into the business becomes a millionaire and that for the most part it requires a lot of skill, instinct, and luck ... a lot of which can't be taught or learned.

I want to get into trading because i really enjoy the analytical aspect of it AND the competitive game/sport nature of it. I understand that as much as I've learned in school or taught to myself ... trading is a hands on thing and that you need to do it to truly understand it. I just don't wanna have another "what if" in my life.

Hell, I only happened upon finance by accident, if I could do it all over again I would have entered into an engineering program from high school but I count myself lucky to know what I want to do now coming outta school and having studied at least something close to it.
 
lol yeah, just tell them you're a footballer, otherwise they'll think you've made tons of money selling fruit and veg.
 
shawn

I know it its very common that a large percentage of compensation is derived from performance based bonus' but firms like IMC, optiver, and all options do pay a fixed salary in addition to this

if anyone has experience with these firms or know individuals who do can you please share any information you may have, thank you
 
You must log in or register to reply here.

Similar threads

A
which prop firms offer a salary in u.s.?
Replies
16
Views
10K
guardiangel
G
S
Trader turned teacher at prop firms
2
Replies
23
Views
5K
Seenitallbefore
S
D
Market making firms - Comparison
Replies
2
Views
2K
arabianights
arabianights
A
Any Prop firm to recommend
Replies
2
Views
4K
robinjohn
R
L
Is a good track record enough for market maker prop firms/hedge funds?
2 3
Replies
49
Views
29K
tradedoctor
T
Top