Career Opportunities
New Equities Trader | Experienced Trader | Groups & Group Leaders
New Equities Trader
Core value: Earning superior returns in any market
A typical Variance trader obtained a college degree or higher from a top university and is focused on trading as a full-time career. These traders are offered the opportunity to be rewarded based on their consistency and goal achievement.
Training
Training at Variance Trading begins immediately, and within two weeks new traders are responsible for actively managing small portfolios. If hired, new traders immediately join the experienced traders as members of the Variance team.
More about our training program
Qualifications
Variance Trading consistently seeks out some of the most ambitious and talented minds in the Northeast. A typical Variance trader possesses a bachelor's degree in the area of business & finance, and is focused on the financial markets and trading as a career.
Characteristics
Common characteristics of the traders we are looking for include:
- Self-Motivation
- Entrepreneurial spirit
- Desire for financial independence
- Exceptional analytical and quantitative skills
- Competitive
- Ability to thrive under intense pressure
The traders we hire are offered the opportunity to be rewarded based on their consistency and goal achievement. If you are interested in a new trader position, please apply online.
For information on how to become a trader at Variance Trading, please fill our online application or send your resume to  . For any additional question, contact us @ (212) 655-9668.
» New Trader FAQ
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What license do I need to begin my trading career at Variance Trading?
As a proprietary trading firm, we require Series 7 license before you can begin trading. Series 55 is required in order to trade OTC securities.
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How do I get these licenses?
Variance Trading sponsors prospective traders who successfully complete the interview process for all licenses, including providing you with all study materials. In addition, we have computerized testing training in our midtown trading room.
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How long does it take to get licensed?
Most new traders spend several weeks - up to approximately one month, studying for the exam. Results of the exam and receipt of the actual license usually takes just a few days.
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How long is the training at Variance Trading?
Training is an on-going process. There are two parts in Variance training's program. The first part involves developing a basic understanding of U.S. capital markets and a mastery of our execution software. During the second part, a new trader is assigned to a trainer who teaches him/her strategy and supervises them as they begin to trade live and independently. More about our proprietary trader training program.
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Can I start the first training phase before passing the Series 7?
Absolutely. The learning for the Series 7 Exam is parallel to the first phase of the training. You will be able to practice on our sophisticated trading platform, trading demo account and learn from one of our trainers.
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Do I need to have experience to be a trader?
Trading experience in not necessary, but a knowledge of the financial markets is very helpful in acquiring a position with us.
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What are the hours?
Pre-market trading begins at 7:30am ET Monday through Friday; our traders are usually in no later than 8:30 to begin preparation for the trading day. Most of our traders have concluded their post-market trading and evaluation and are ready to leave by 5 p.m. ET. Aftermarket trading is available.
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What is the base to my salary?
The pay structure for traders is based 100 % on performance. There is no base salary.
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How are traders compensated?
Trading gains are split between the trader and Variance Trading according to a payout percentage formula for each trader's performance. The payout rate is usually between 80%-100% for the trader - one of the highest payouts in the industry.
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Do I need capital to begin trading?
Though we are a proprietary trading firm and provide access to the capital needed to be successful, most new traders will be required to make capital contribution to their trading account (usually $5,000).
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Do I need another job to cover expenses at first?
Trading can be a very rewarding career although it can be difficult to learn and even harder to master. As in any performance-based income venture, it takes some time before an income stream is secured. For this reason, we highly recommend that new traders have another source of income to relieve the stress of paying bills while learning to trade profitably.
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Is pre- and post-market trading offered?
Traders do trade pre and post market, especially during earnings periods. New traders are discouraged from doing so because of the lack of liquidity during such times.
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Do I need a college degree and, if so, in what major?
A degree is not mandatory, but it is helpful. Individuals with an interest in the financial marketplace are usually attracted to trading.
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Where is Variance Trading located?
Our trading floor is in midtown Manhattan, New York. For map and directions, click here.
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What is the dress code at Variance Trading?
Variance Trading has a casual dress policy.
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What skills will be helpful to becoming a successful trader?
Successful traders are able to process large amounts of information; are quick and accurate on the keyboard; are able to bounce back from adversity; and are disciplined and calm under pressure.
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What type of technology is available at Variance Trading?
We have our own trading platform, and other licensed quoting & charting software packages, like eSignal. We are committed to providing a technology edge to our traders and have a robust technology development program underway.
More about proprietary trading at Variance Trading:
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