An informative article on the career opportunities at proprietary trading houses was published at eFinancialCareers today. Drawing on information gleaned from contact with senior executives at houses like TCA Futures and Met Traders, the author describes the pros and cons, training and development opportunities, and of course, the financial benefits from going on such a career track.

However, more interesting to me was the first comment on the article:

Anyone who considers getting into a trading house must understand such a career decision at an early stage of a graduates career would be a CV “Buster”. If one is considering going into an Investment Bank after starting his career at a prop trading house, well you must realise that banks will immediately throw your application into the bin once they see prop trading work experience.

The comments after that argue the case against this, but personally, I’d have to say that the initial comment wasn’t descriptive enough to state anything definitively. Are we talking about entering prop trading divisions? Or are we talking about other IB divisions? If it’s the former, it is hard to see objectively why prop trading house experience is detrimental. After all, trading experience and flair, plus the necessary attitude are certainly the most crucial determinants of a good trader regardless of where you go. The only thing possibly detrimental could be the working culture, where it may be possible that teamwork is less emphasised at prop houses compared to investment banks.

But well, it’s just my opinion.