Why is the trading industry looked down upon? (Hi frequency , prop shops etc.)

like
Posting as :
works at
You are currently posting as works at

It has dubious value to the overall economy. Like certain types of lawyers

like

Dunno, I've always thought that if you're truly smart and only following the money, trading is the place to go over IB. Regular hours and 6-figure bonuses if you're good

like

Very seedy and hard to cut your teeth in. A lot of turnover and a lot of places require you being your own capital

Much more blue collar than IB, best exit is really execution trading at HF

@PwC I think bros and floor traders are the blue collar traders, HFT guys tend to be super quantitative. Also, limited sample size but most of my trader friends basically made a quick million by their mid-twenties and left to form their own startups (often times leveraging the quant/machine learning skills that served them so well in trading)

Turnover...I have a friend fired 6 months in and another making 200k 2nd yr

So why is it looked down upon?

Compared to what?

In general people don't like traders and the industry

See my post. They are looked upon as leaches on the economy

That probably goes to a general lack of understanding of finance and it's role in the economy. Consultants get the same rap for not "making" tangible things. Even tech doesn't get the same respect as making an actual physical product.

@D1 - I'm not an expert, but quants usually aren't executing the trades themselves. They build strategies, send actionable requests to execution traders who deal with institutions to negotiate these securities (buy/sell/put/short/etc.) ... So "traders" for HF are often times blue collar guys who have great institutional relationships where as Portfolio managers + Analysts are analytical.

Im talking about hi frequency prop traders. They are screen traders. Trade their firms money with super fast transactions for futuresx options, snp w.e . They can make 200k for their firm in a day of trading or lose that much.

@PwC1 HFT guys tend to come up with the strategies they implement, although they may additionally have quants. Depending on product, though, traders may have to deal with bro(ker)s, who are the real blue collar guys with nothing but their connections

Related Posts

Wake up tips ☺️

Post Photo
funnylike

Accenture Cognizant IBM

Currently I have CTC of 21 LPA. I am planning to buy a 2 BHK in Noida and rent it for secondary earning.

Is it a good idea?

Please provide me some good investment ideas.

like

What is going on with your productions during these days of coronavirus? Clients are postponing or canceling. What are you experiencing?

likesmart

Hello! I just wanted to give a rundown of my current career in the civil engineering field and wanted to know some good advice/wether I’m in good shape or not. I’m currently 21 years old pursuing a bachelors degree with a 3.2 GPA (summer courses should bring it up to a 3.4 about). I have 3 months of experience in Geotechnical and will be wrapping up 4 months of Structural Engineering. I graduate just about exactly a year from now and I’m thinking about pursuing a masters degree.

like

What's your date of Jalsa??

like

Anyone still playing destiny? The new season has some promising changes

like

Hey Folks, i joined yesterday - Optum Noida, how long will it take to get Sez and Id card? Till then what needs to be done?

What is the average package of Sde3 in delhi ncr?

like

Hi all,
I am holding offer from Infosys- 16 LPA, Mindtree- 11LPA, TCS- 9 LPA and VGL- 15 LPA as I will join the company in two weeks. I am not sure, which one I should join and should I ask with other companies for revised offer letter (if yes, please suggest me the process) or I should join Infosys or VGL?

Any help or suggestion will be highly appreciated, thanks for your help.

like

As the job market recovers and tech talent becomes especially sought-after, some job seekers can be at a crossroads.

Fledgling startup or a big, established company: where would you work?

Working at a startup helps you pick up new cross-functional skills, forces you to dig deeper into your reserves, and allows leadership opportunities.

Big companies typically have a more structured path for career growth, offer benefits and perks to employees, and are perceived as more stable.

Thoughts?

like

How long did the CIPP/CIPM take you? Was it hard?

like

What do you think about Oliver Wyman‘s acquisition of Booz‘s ME business?

like

Note to self pack a slip or some drier sheets cause this theory dress is staticy!!

like

What’s the worst thing you’ve seen at the office Christmas party?

like

How thorough is the academic background check?

There's a lady at work who's probably very smart and good at her job but i feel like she's so dumb sometimes because she always has ideas about how we can reduce our workload by moving it to another team offshore which is obviously great for the company because they have to pay less money for that work but it could mean that our jobs become redundant eventually. Our company has had these sort of transformations in the past and i just don't understand how she doesn't see this

like

Shana tova 💓

like

When you find out you’re getting promoted

Post Photo
likefunny

Here's a question: are you happy?

And why or why not?

likefunny

I just moved to another state. How can I find a recruiter? Any tip is appreciated. I have been applying but haven't heard back much.

like

Additional Posts in Consulting

Good books on corporate sales strategy

like

Time vs money...which would you choose and why?

like

Tell the truth: are you more productive at home than the office? How much more? How about your coworkers? Are they more productive in your estimation? And lastly, your whole team - is it more productive in a remote environment?

likefunnysmart

A bowl for "thirsty" consultants on travel a good idea or nah? Kind of like that movie about an elite hook up ring for working professionals who don't have time to date

like

Holy smokes, girl behind me in first class on AA just got carded for a glass of wine. I mean, tons of underage kids sneaking into first class on AA flights to get turnt on free booze?

like

I miss the corporate welfare of all my free mealz

Post Photo
likefunnysmartuplifting

Has anyone ever went the Brand name Firm -> Boutique route? Any regrets or insights?

like

Need to lose weight fast. Motivation is lacking. I realize I need to eat way better. Pro tips? Side note - I'm a vegetarian so all meat diet is out. I can low carb but find myself struggling post 5pm

like

has anyone extended a future leave to a personal leave before at acn?

like
like

Which firm has the best dressed consultants?

like

Joining Deloitte or PWC as Manager. Pros / Cons?

likefunny

Is there anyone who’s experienced helping their parents get health insurance? Specifically, they aren’t eligible for Medicare, make too little to qualify for ACA subsidies, and cannot get employer-provided insurance. Only option is to pay standard premiums - and if that ultimately is the case, fine. Not trying to find loopholes, but given their low-income, would be nice to know if there are programs I’m not finding in my rsch.

like

Hooked up w/ a couple individuals on the same account. So much fun, yet so dangerous.

like

Does your rubber Tumi handle peel and little rubber bits fall off? Like an eraser? What does one do to stop it?

like

Any recommendations on a good office chair below $500?

like

Rest In Peace and Power Chadwick Boseman...gone way too soon

likehelpful

Does anyone here find the headrest on their office chair super helpful? I've never had one, and can't imagine it's necessary as I shop for a new chair, but want to make sure there isn't something I'm missing.

like

Any EYers willing to help another EYer out? I know there has to be something out there other than AML...

like

Anyone else ever dealt with a severe „writers block“? Like not being able to produce a single slide? Full on anxiety and not sure how to push through this.

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal