Financial trading is a notoriously competitive profession. People who make good traders tend to be really aggressive in their quest to make money from the markets, which implies somebody else, at the other end of the trade, is losing money. To encourage this kind of mentality, trading firms typically run competitive operations designed to let only the toughest and the best traders survive. It’s not unusual for such companies to hire 30 candidates, train them, but keep only the 3 best.
Fernando decided it made more sense to spend more time hiring only the best people to begin with. It’s more efficient because he doesn’t waste time paying or training the 90% of candidates whom he would wind up firing anyway. Raj Fernando founded Chopper Trading in Chicago in 2002. When he hires for the firm, he is looking to bring on people who will wind up retiring from the company. He doesn’t want turnover. That’s a highly unusual outlook in today’s economy. However, he does spend more time interviewing and working with job applicants to make certain they are the right fit.
They also have to fit in with the other people. He told Smart Business that it didn’t matter how good someone was if they made everybody else miserable. Therefore, after the trading day has closed, employees hang out and relax together playing table tennis or poker. Some of them wind down by lifting weights. After working hours, they go out together. The firm provides tickets to professional sports games. Fernando deliberately makes the atmosphere as pleasant as possible. The work is stressful enough, he says.
Fernando and his recruiting team go to job fairs held at the best schools in the country. They try not to come off as executives or sales people. They want to attract candidates who will be attracted to Chopper Trading as it is.
Raj Fernando’s family brought him to the United States when he was just a baby. He went to Beloit College, earning a degree in history and economics. He also studied at University College London. He started working for the Chicago Mercantile Exchange while still a student.
For more information please visit https://en.wikipedia.org/wiki/Raj_Fernando