More likely to recruit...?

As discussed before, I am looking for a non-grad position within a trading house/bank, which I hope will allow me after the necessary training and hard work to get onto a trading desk.

Various people on here have suggested firstly that I look out for adverts (I have only seen one which was on efinancialcareers.com, and this was closed). But also to obtain a list member companies from the LSE website and LIFFE website. Could someone please advise me as to whether I should go for the big banks e.g. ABN Amro/Barclays or the small trading houses? Obviously I will write to both but which should be my main focus? And also are these positions fairly rare?

Lastly, what sort of position would I be aiming for? I am right in thinking back office/settlements/dealers assistant are all suitable?

Any feedback will be much appreciated.

Cheers,
Steven.

Mate, sorry to break it to you, but non-grad jobs in banks don't exist. Not even for receptionists and secretaries (unless they have, you know, other advantages...

Even grads need to have exceptional academic records, come from top uni's and programs, and on top of that usually STILL need a bit of interest, either family connections or mates in the right places.

The pay-off is that, once you're on the merry-go-round, it's almost impossible to fall off unless you're hell-bent on self-destruction

it's cool no worries, I dont claim to know everything all I know is i've seen adverts for such positions and was wondering what companies would most likely to be recruiting.

soosta said:

it's cool no worries, I dont claim to know everything all I know is i've seen adverts for such positions and was wondering what companies would most likely to be recruiting.

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Shamu is probably right.

If I were you I'd save up a few grand to live on for a few months and target the arcades. Plenty of the names in the business have been discussed on the board. As a non grad, you'll need to convey a genuine interest in the markets to get off square 1. Reading relevant books on the subject is a good start. While reading alone won't teach you much about trading (nothing compares to experience), it will give you a frame of reference.

To begin with, the recommended books are the classics:

Reminiscences of a Stock Operator - Lefevre
Market Wizards - Schwager
New Market Wizards - Schwager
Getting Started in Futures - Lofton

For some good stories:

Liars Poker - Lewis
FIASCO - Partnoy

If you get a job as a trainee you'll want to read, amongst others :

Trading in the Zone - Douglas
Technical Analysis of the Financial Markets - Murphy

Hope this helps.
Best of luck,

AM

P.S. I don't think it would hurt to mention in your covering letters that you have the financial resources to live without an income for 6 months. It will convey planning, serious intent and suggest a greater chance of success in becoming a trader to the reader.

Thanks for the advice alpha. I take it futures are the way forward when it comes to the arcades? Also, all the ads i've seen for such positions within arcades require a degree, do you think I should apply to these anyway? I do genuinely have an interest in the financial markets which some grads may not.

soosta said:

Thanks for the advice alpha. I take it futures are the way forward when it comes to the arcades? Also, all the ads i've seen for such positions within arcades require a degree, do you think I should apply to these anyway? I do genuinely have an interest in the financial markets which some grads may not.

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Just apply and see what happens!!!! Why ask all these Q's.......If you are that dedicated to findinga career in trading then you should be able to find these answers for yourself......use some common sense and go out on a limb...apply....if you are good enough they will interview you....arcades do not require degrees......

One LAST question!!!

How do I distinguish arcades from other institutions on the LIFFE website!? Or is it just hit and miss!?

Try the following link posted by twalker on another string

http://www.liffe.com/access/how/access/bureaux/

Best of luck to you!