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That definitely was too much, just for an interview. A couple times, I had someone ask for a consulting project as a coding test, like the guy who asked for a

by fsk 12y ago

That definitely was too much, just for an interview. A couple times, I had someone ask for a consulting project as a coding test, like the guy who asked for a program that connected to Interactive Brokers and executed VWAP trades. That test project was too specific and detailed. My rule now is that if the pre-interview coding test takes more than 15 minutes, I just pass. A lengthy pre-interview coding test has many issues: - you could do it and not get an interview - you could do it, and they turn out to be douchebags (likely, because they're insulting your time with the test) I just pass on almost all pre-interview tests now. How do you know it's worth your time until you meet them?

chad_strategic 12y ago
VWAP isn't a common term around most programmers. (Don't worry, I know all to well what it means.) Is there a site the specializes in programming/trading/finance? or do you have to be in NYC or Chicago?
- fsk 12y ago
  Most of the banking/trading jobs are in the big cities. It's mostly NYC and Chicago, but a little for other cities. (with Chicago being more options and futures) Like you mentioned elsewhere, it sucks as you might imagine. Why would a big bank need good software when they can get trillions of dollars in bailout money from the government? (and the losses by Knight are still a rounding error compared to the government subsidies the financial industry receives) For example, 0% interest rates are a massive wealth transfer to the financial industry, because they can borrow at 0%, buy stuff, wait for inflation, and profit (and get bailed out when they're wrong). Financial software is shockingly low quality. Like most things, you need previous financial/trading experience. I haven't done it in a couple of years, so I wouldn't be seriously considered now.
  - chad_strategic 12y ago
    Yeap, that is our financial system in a nut shell... Thanks Grandma Yellen for continuing to bail out the banks.

by fsk 12y ago

chad_strategic 12y ago

VWAP isn't a common term around most programmers. (Don't worry, I know all to well what it means.) Is there a site the specializes in programming/trading/finance? or do you have to be in NYC or Chicago?

fsk 12y ago
Most of the banking/trading jobs are in the big cities. It's mostly NYC and Chicago, but a little for other cities. (with Chicago being more options and futures) Like you mentioned elsewhere, it sucks as you might imagine. Why would a big bank need good software when they can get trillions of dollars in bailout money from the government? (and the losses by Knight are still a rounding error compared to the government subsidies the financial industry receives) For example, 0% interest rates are a massive wealth transfer to the financial industry, because they can borrow at 0%, buy stuff, wait for inflation, and profit (and get bailed out when they're wrong). Financial software is shockingly low quality. Like most things, you need previous financial/trading experience. I haven't done it in a couple of years, so I wouldn't be seriously considered now.
- chad_strategic 12y ago
  Yeap, that is our financial system in a nut shell... Thanks Grandma Yellen for continuing to bail out the banks.