Tough Choice..

I joined the site to get some advice on my future career in the markets. I just finished my masters reading mathematical trading and finance. I currently have two job offers. One is in brokering for a large house. The starting salary is really good and is a well established name in the field. However I really want to find my way into trading. I have an offer at an unusual firm trading FX. It isn’t an arcade however the first 2 months are training (unpaid) and if you pass the requirements, you will join a successful trading team, with good limits and a base salary. It’s a risk because of the unpaid training and off course there is no guarantee you will be selected.

It is a trade of between a stable grad scheme and the riskiness but reward of prop trading. I am just out of uni, have high debts and running out money. So any insights from brokers and traders would be appreciated.

Cheers

Take the paid job.

The choice isn't tough at all.

You'd be mad if you turned down the large-house brokerage option for something that you don't know you'll even be selected for. Unless you really, really don't want to be a broker. An increasing amount of brokers' time is inputing trade ideas into automated alpha-capture systems for clients, so you get to run a bit of a prop book anyway (assuming you're talking about equities broking).

fx101 said:

I joined the site to get some advice on my future career in the markets. I just finished my masters reading mathematical trading and finance. I currently have two job offers. One is in brokering for a large house. The starting salary is really good and is a well established name in the field. However I really want to find my way into trading. I have an offer at an unusual firm trading FX. It isn’t an arcade however the first 2 months are training (unpaid) and if you pass the requirements, you will join a successful trading team, with good limits and a base salary. It’s a risk because of the unpaid training and off course there is no guarantee you will be selected.

It is a trade of between a stable grad scheme and the riskiness but reward of prop trading. I am just out of uni, have high debts and running out money. So any insights from brokers and traders would be appreciated.

Cheers

Click to expand...

The fact you're asking this question means you should take the broker job.

Your position is that you have debts which will grow, you have just finished as a student, 20% of 16-24 year olds are unemployed, and your next few years will probably be vital to your future career and what future employers think of you.

You have option 1: Job now, well paid, well known firm, debts will disappear, CV will look good, you'll learn about trading

option 2: No job, np pay for 2 months, debts will increase, CV will look like you've done nothing for 2 months, at the end of the two months, you probably won't have a job because likely you won't be able to make a career out of tradng, you won't get paid, CV will now have a bigger hole in it, and you'll have joined the unemplyment %'s. Future employers will wonder why you d***ed around for so long and not be impressed.

Options 1 is available now, but perhaps not in the future. Option 2 will very likely always be available to you.

If you can't weigh those up yourself and come to the right conclusion...well JRP beat me to it

Thanks guys,

Really appreciated, ive got a week to decide. The grad brokering is for the CDS desk, so just wait for the contract to come through...