Available Jobs at Prop Trading Firms
The main jobs at prop trading firms are:
- Trader – You buy and sell securities and manage risk, either based on a model/software/automated approach or intuition and judgment… or a combination of both.
- Quant Researcher – You come up with the mathematical models for trading algorithms and strategies.
- Developer – You implement the researchers’ models and write and maintain the code that lets the traders do their jobs.
And then there are also back office and support functions, such as operations, finance, compliance, and HR.
We’ll focus on the first category – Traders – in this article because the others could be completely separate articles.
Some firms also divide Trader roles into “Discretionary Trader” and “Quantitative Trader,” while others combine them or offer only “Quantitative Trader” roles.
The line between these jobs has become blurry, as Traders increasingly need to know programming to work with Researchers and Developers.