First New York Securities LLC Reviews | Glassdoor

First New York Securities LLC Reviews

17 reviews

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2.7
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Thomas Donino
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17 Employee Reviews

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  1. "Former Trader"

    Star Star Star Star Star
    Former Employee - Trader in New York, NY
    Former Employee - Trader in New York, NY

    Pros

    You can trade size. Company is well-capitalized.

    Cons

    Limited training for newbies. Expected to hit ground running.


  2. Helpful (1)

    "Not a great place to start in securities business"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Assistant Trader in New York, NY
    Former Employee - Assistant Trader in New York, NY
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    You can earn your series 7 license.

    Cons

    Long hours, short pay, high stress environment.

    Advice to Management

    None.


  3. Helpful (2)

    "partner"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Trader in New York, NY
    Former Employee - Trader in New York, NY
    Recommends
    Positive Outlook
    No opinion of CEO

    Pros

    if you know what you are doing, you will make a lot of money. there are no entitlement programs at fny. if you want to make some money , you must work for it.

    Cons

    not a lot of good places to get breakfast or lunch

    Advice to Management

    stop hiring kids with no experience except for their place in the hamptons


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  5. "amateur hour, lots of useless talent"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - IT in New York, NY
    Current Employee - IT in New York, NY
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I have been working at First New York Securities LLC full-time (More than a year)

    Pros

    no dress code, do as you please, decent coffee. well paid.

    Cons

    Working in IT, upper management is non communicative, totally shut in, there are several individuals who are a total waste of space and should of been let go years ago. Senior managers play a lot of locker room antics and have their favorites. Highly disorganized environment. there is no real career advancement.

    Advice to Management

    Fire the dead weight, become more open with your communication, have work outings, provide mentor-ship.


  6. "FNY portfolio manager"

    Star Star Star Star Star
    Former Employee - Portfolio Manager in New York, NY
    Former Employee - Portfolio Manager in New York, NY

    I worked at First New York Securities LLC full-time (Less than a year)

    Pros

    a good amount of flexibility in trading ideas/execution

    Cons

    6 months trading of flat returns and I was out the door. High cost per transaction on equities trading

    Advice to Management

    be more selective in hiring and give a longer do or die period


  7. Helpful (4)

    "disorganized and penny pinchers"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Portfolio Manager in New York, NY
    Former Employee - Portfolio Manager in New York, NY

    Pros

    freedom to run book how you want (in theory), can take vacation, new mgmt might be better

    Cons

    they'll try to hit you with a lot of fees to pay you a smaller cut; not an ideal set up if you come from traditional hedge funds

    Advice to Management

    you need to pick where this business is going. if it is a day trading shop, make it a day trading shop. if you wanna run long/short and recruit credible long/short pms, you cant stand over a guys shoulder every time a $60 stock moves 30 cents.


  8. "Eat what you kill exemplified"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Trader in New York, NY
    Former Employee - Trader in New York, NY
    Recommends
    Negative Outlook
    No opinion of CEO

    I worked at First New York Securities LLC full-time (More than 3 years)

    Pros

    Control your own destiny and compensation is cut and dry based on returns. Not a bad place to learn trading. Just understand that they tend to favor quick trading rather than investing.

    Cons

    Limited rope if things start going against you. It is a total return shop so risk is constrained if you obtain any losses - which is bound to happen eventually even to the best of traders and risk managers.


  9. Helpful (3)

    "Office Politics."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Junior Trader in New York, NY
    Former Employee - Junior Trader in New York, NY
    Doesn't Recommend
    Disapproves of CEO

    Pros

    good pay and health benefit, good capital to play with, and potential to make quite a bit money for urself early on

    Cons

    Suggestion for future employee:
    1) keep your mouth shut
    2) do whatever the management ask u to do
    3) learn as much on your own, bc noone is gonna teach u, basically learn by watching
    4) Most importantly, dont show threat to the guy who runs the training program (not gonna name name here), bc even if u made money, u'll still likely to be let go if u pose a threat to his authority.

    Advice to Management

    do something to solve the office politics


  10. Helpful (2)

    "1-100 make it, and that has nothing to do with FNY"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Assistant Trader in New York, NY
    Current Employee - Assistant Trader in New York, NY
    Doesn't Recommend
    Approves of CEO

    Pros

    -solid company name
    - A few partners there make money
    - when you end up not making money, you might find a job with the firm name attached

    Cons

    zerop effortin developing new traders.

    Advice to Management

    get real technology. the tools are behind etrade. Try to develop your traders, stop listing to the oldest guys in the room that just care about their partner checks.


  11. Helpful (2)

    "A complete madhouse for anyone who is not trading on a desk, not worth the pain."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in New York, NY
    Former Employee - Anonymous Employee in New York, NY
    Doesn't Recommend
    Disapproves of CEO

    Pros

    If you are a trader and want freedom to make your own decisions with minimal risk management or oversight, you are in.

    Cons

    The professionalism is non-existent. I would describe this place as worse then any I have ever experienced with more politics and lack of management then most.

    Advice to Management

    Respect. Give it and understand it if you want quality work from those supporting your core businesses.


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