what route/career to follow?

I’m currently a quantity surveyor and live in Wales which is why I have never been able to follow my dream career path of becoming a financial player in the stock market (too be honest didn’t get the knowledge in Wales that opened doors to this environment), I earn decent money but it does not seem enough of a role I play, I am moving to bath in the next year with my wife who is an actuary (commutes to Bristol) and by moving we have decided that in a few years I can go and get my dream job (change career). I thought I would like to be a stockbroker however after reading up on this site about ‘the broker’; I actually have had the misconception that a broker was someone who predicts the share price (I now know differently). I love looking for the upper hand/predicting and believe I would thrive in a career that is ‘alive’ and constantly changing also making money is a massive drive for me and I can see myself working on the stock market and being successful. I know that I would have to start again and most deffinatly take a pay cut and go in as a junior analyst (if fortunate enough to even be considered), (is this the position you think I am talking about? An analyst? ).

I would be commuting from bath – I know it’s a long commute but it does not bother me in the slightest.).

Any guidance regarding the career path I should take would be greatly appreciated. I.e. exam routes.

I am looking to sit exams over the next 3 to 4 years that would help my chances to getting in at the grass routes. I am 27 years old now and I know it would be late to start at 30 but I have not had the option to start any earlier… I would like to give my ‘dream career ‘ a shot and not be old Senior Q.S who was financially ok (but never wealthy) wishing I had given it a go.

Thanks

Lewis

lewismorgan said:

Thanks

Lewis

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Since you've mentioned that you'd be a few years away from a career change anyway; I'd suggest spending that time browsing this forum and learning as much as you can about the markets and trading in general in your spare time; then start playing around with ideas on a demo account.

All the information you need to be successful is dotted around within this forum and on a few other sites. You don't have to work for someone else to be involved in the markets

yes , i will be doing that, and investing when i know a little more and save up enough to be worth the investment.

So you do not think i will be overlooked as a 30 year old looking to become a junior analyst/ etc

Have you got a 1st class degree from oxbridge?

no

Do you even have a degree?

I don't but am currently doing a part time one which will finish in 3 years(it is not needed in my profession at the moment, but thought best get it for the future)

Sorry to sound negative, but I really doubt you'll get a job as a junior analyst at an IB. They generally take the best maths / science/ engineering grads from around Europe. Do the part time degree, but do it for its own sake as -to be blunt- you won't fit the profile the HR department have been told to look for (probably 1st Class or 2.1 hons from top universities). However, that's not to say you can't break into stockbroking. How are you at sales? Stockbroking is more about building relationships with clients than research whether in penny share bucket shops or private banks. You get given the research, and have to spin it to the clients, along with some market flavour.

Yes my wife was of the same impression.

I do have a mate who is involved in the banking sector and was hoping he could forward my details through the right channels avoiding the hr department.

At present my knowledge is too little to say i could be a good selling broker, i will answer the question once i have learnt more about the market place.

thanks for all the advice

lewismorgan said:

I would be commuting from bath – I know it’s a long commute but it does not bother me in the slightest.).



Thanks

Lewis

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Just a thought: you say you would be commuting from Bath but to where. Be advised that this job is long hours so any commuting would have to be put into your working day. Dont forget you have a wife and also a life and dont forget to sleep (but not whilst driving of course).

I am used to the long hours being involved in construction about 12/13 a day (she is also in her profession) I am not going to hinder anyhow and going to at least try and achieve my goal. I have a long time(3 years) before i actually try and enter this new career.

I know also that its a long shot, but am one of those people who try to beat the odds and wont be happy until i have tried.

Im going to sit exams IFA/CMA also, as it can only better my knowledge for my own trading, and if the opportunity ever does arrive - i will be somewhat prepared.

Might even move to London if things go well.

Personally, I would forget about getting into Goldman Sachs et al - if they're still trading in 3 years anyway. Have a look at how trader_dante 'made it' - I may be wrong but I think he came from a similar situation ie no degree and similar age. Having said that from what I recall, the guy has put in years and years of hard effort.

thanks will look Trader_Dante up. Thanks

don't let what i'm about to tell you put you off your dream lewismorgan...

here's my experience;

if you want to be trading in the City, 99.999% have annual intake on grad recruitment programs only - and these are for junior trader positions paying a pittance - around the 24k mark

one place I w*rked, 99.9999% of the junior traders were PHd, many had two MA's in different disciplines

working hours are 08:00-21:00 with plenty of beers at lunch and afterwards - so you're day is more like 05:00-23:00

if commuting from Bath via train - you're kidding yourself. I was commuting from the country (a lot nearer than Bath) to square mile every day for a while which is around 1.5 commute on the boards - with tube and train delays and trains arriving packed solid, my commute usually took 2+ hours.

Ended up getting a crash pad locally.

best advice I can offer if you don't have the academics, is to join a temp agency at The Wall or around Bank area and get in as a bog standard admin - pay is usually around 10-15ph, so probably won't subsidise your commute - you're much better off renting a room in the SE London area which has good connections to canary wharf or town.

once you're in, get to know as many people as possible - once your in the door and feet under the desk - if you have a spark of talent, you'll get a transfer or secondment

best of luck...as that's what you'll need

and lastly, remember; opportunity favours the prepared mind

lewis NO

thanks theSheik, advice taken on board.