u/Endorian_

Hey everyone, looking for some advice on my first industry offer.

My Background:

• 29 years old, strong background in Machine Learning.
• Currently working as an ML Scientist in algorithmic pricing for an eTravel company.
• Solid math/ML nerd: I have publications, personal trading experience, and actually won the Optiver Traderhack competition.
• Currently making 51k CHF (~55k-56k EUR) but working a strict 36 hours/week. Never a minute more. Very comfortable work-life balance.

The Offer:

• Firm: Small prop trading firm based in the EU (doing market making and not only).
• Role: I will get my own book and mostly decide what to do.
• Base: 52,000 EUR
• Bonus Formula: 0.25 * (NTI - 262,000) - 1,000 (where NTI is Net Trading Income, post exchange fees, etc.).
• Non compete: 9 months paid 50% of base per month.
• Breakeven for Bonus: NTI = 266,000 EUR.
• Expectations: I was told to expect a margin of around 50k - 100k EUR in my first year.

I'm finding it really hard to view this as a "good" offer. It seems pretty much impossible to get a bonus in the first years am I write or i am reading something off? Sorry but this is my first offer from the industry and I feel i need help to understand.

I am still in the negotiation/contracting phase.

My Questions for the sub:

1. Is a 52k EUR base normal for a small EU prop shop?
2. Is a 262k hurdle rate (desk costs + base cover) standard for a seat at a smaller firm?
3. What specific questions should I be asking them right now before I sign?

Appreciate any harsh truths or guidance. Thanks!

PS: post written with the help of Gemini (just to improve the quality)

Hi. I got to find Cross Options Group, which is a boutique firm which seems to be active since late 70ies. That s pretty crazy (older than optiver imc).

Do you know anything about this firm? Is it good/bad?

Hi,

basically the title. I provide my cv here:

1st Page

2nd page

I am really attracted by the MM industry but unfortunately I was not able to join it due to preparation lack in the past. Reached last stage both with Optiver and FLOW Traders a couple of years ago.

My profile is very research oriented, despite working in the industry.

Question: I am 29 with no real prior experience on MM, despite knowing very well how the industry works (at least from the outside). Do you think I can join the industry? Should I apply for graduate position or not?

Thanks a lot.