I kind of want to apply for one. I can write an algorithm that just prints hundred dollar bills out of the market all day long. Being equipped with that, and an “f you” attitude, how hard would it be for me to get through the doors at someplace like citadel and get seeded with $100K? I heard you have to come up with a little of the capital yourself - but okay fine, I happen to have $20K laying around.
Is it true these jobs exist and you can keep 70% of the profits?
super easy man…I know a dude who was offered $150M from some fund and he could keep 95.98% of the profits. But he declined because he wanted to go into professional sports…His highlight moment of his career so far (as a pro athlete) is when he:
he hit a grand slam at the last super bowl against the NY Rangers while trailing by 3 shots with one second on the clock.
You’re not going to get a job like that at Citadel or any other name brand companies unless you have a math degree from MIT or something (in other words, if you have to ask if you’re qualified, you’re not).
Most payouts for this sort individualistic position (and I am not sure if Citadel even has this sort of plug and play job) are around 10% - maybe more in special cases. What you might want to look for, if you are interested in this sort of thing, are smaller, more independent market making firms. They tend to burn through a lot of noobs and are more liberal with new hires.
Also, if your goal is to just start with $100k, you should just get a job… any job, and save that money in a year…
Ond of the crowd sourcing trading platforms picks people with the best algorithm and pays them