<p>There are less trading positions open. The top schools where traders come from are Wharton, UChicago, and MIT. Engineers and math majors at top engineering schools are heavily recruited with a few kids from other places here and there.</p>
<p>Dunkaroo-Have you actually gone through the recruiting process man? It doesn’t sound like you have any idea what your talking about.</p>
<p>Trader positions go to two types of people, those with amazing math backgrounds that go into structured products, bonds, and derivatives. The second group is people who are into investing and do it with their own money, usually end up in equities. Some ivy league football players will get in to, they will be placed randomly. A trading interview will consist of a couple of brainteasers and questions about the market. It ends up being a mix of jocks from ivy league schools, kids who watch the market all day from random schools, and engineering/math kids.</p>
<p>The kids from random schools are more likely to be close to new york or chicago. I know kids that have gone to bad schools in NYC get jobs because they were able to clerk during the semester as well.</p>