2007 - Qualifications for entry roles

[Jack o'Clubs]

Thanks guys i appreciate your input and some guidance. I also apologise to those guys who trade at home and who wouldn;t know about the career route. I will keep asking the questions and just go for a cert and try "knocking on the doors"!

I'll keep you posted on progress for others who are also interested in career routes...

thanks again chaps / chapesses!

cheers

Since you've asked for views... an IAQ is just going to give you a piece of paper that shows that you know some of the theory. Taking it outside relevant employment is probably not going to give you an advantage in an interview situation. If I were in your shoes I would look for roles that you think you might be suitable for (ie in smaller trading houses or IDBs), look at the agencies that are handling those smaller roles (most will be subcontracted to agencies because they get so many applications at junior levels that it saves their in-house HR from the filtering process), send off some applications and then (the most important bit) drill the agencies for feedback when you get turned down. From their feedback, you should be able to work out whether a particular qualification is useful, or a particular career direction more likely to work out for you. But as I said, I'd be very surprised if the qualification on its own opened any doors for you: it's the combination of theory (ie professional exam passes) and practice that they will generally want - theory on its own counts for little, but if you go down the exam route, Grantx's advice is as good as you'll get.

 

[grantx]

Greedy,

I'd go with mrsx's suggestion and look for a foot in the door, regardless of how lowly it may be. Once in, you'll gain experience and develop contacts. Studying for the exams at the same time will show determination. This has to be commendable.

Possibly also work on your diplomatic skills. A touch of humility wouldn't hurt either.

Grant.

 

[toxictrading]

i also believe that a real love of the markets is an essential requirement and without that you will get nowhere
going down the Back office route is a good option to get you in there, but you may be looking at 2 - 3 years before you get on a desk !, the time scale will be up to you
a lot of the companies recruit junior traders from inside, so yes i would agree with some of the other posts that a foot in the door is the first step regardless of what role you have to do to get that foot in
good luck

 

[Greedy32]

hey thanks for all the advice people. The thing is I know my academic background is not great and i have friends from Grammar School who got the perfect grades etc and are working in the City/CW and the 2 are linked. However, they do jobs like "Analyst" or "researcher" and hate their jobs as they work 16 hour days and have no interaction with anyone!
My main goals for work in the financial arena are interacting with people, selling, negotiating, meeting people, and NOT smashing graphs up with formulas all day long until my eyes bleed! So that is why i was looking at something a bit more soft and less Quant based.
In terms of the threads i posted in reply to people here I can be direct (a gift and a curse) but when you get an answer to a question that you never asked it does become frustrating... and i know the process for interviews/CV sending/ who to ask and what to say, so i lost my rag at that guy.
But on the back of that i have now got the advice i (and doubtless other people) needed to plan a route forward... it appears to go one of two ways... Back office and take a shot if one comes up... or Sales desk assistant... take a shot when one comes up...

Brilliant. thanks to all your threads/advice/info.

cheers

 

[Greedy32]

From what i can gather it is very similar to what i do here in Recruitment - look into areas of potential profit (untapped clients, underdeveloped clients) then research them to put together a sales strategy - maybe they should widen their risk, concentrate on one area more... diversify or consolidate interests, then you use this, cross reference with the products you have at your disposal and sell them the solution they never knew they needed but appears to be perfect for them...???

In terms of bashing the phone, no problems, and although my French/Spanish have not been tested in anger since school, I love languages and can meet and greet in about 6 languages...

What else would you suggest? I think the IAQ would be good to give me more depth thenif the Sales area fails i can go in to administration to "cut my teeth" then go from there? this is long term for me and i don;t expect to make a Million in my first year... or 5!

 

[grantx]

Greedy,

Last word from me, honest.

What about a part-time M Sc in mathematical finance or similar? Imperial College, for example. Maybe a bit "quanty" but doesn't mean you're heading for a quant position.

Then when clients question your rationale on a (dodgey) proposition, you can say, "trust me, I'm a quant".

Grant.

 

[Greedy32]

awesome again! thanks for your info. I have been liaising with a Fin Rec agent who is throwing stuff my way in small houses already... mostly sales initially... FX that type of thing. I have made a note of all the factual info here and will welcome anymore but am thankful for what i have.

thank you all so much... I owe you all a beer (and maybe 10%!)

cheers

 

[Jack o'Clubs]

Onw word of advice - don't get over excited by recruitment consultants dangling job prospects in front of you. Most of these people to be honest are totally full of cr*p - about on a par with estate agents imho. There are a few good ones, but it's not a profession that rewards sincerity and openness particularly. Expect to be disappointed a good few times before you land something. Personal contacts are usually better in my experience, but if you don't have any / many then you gotta do what you can.

Cityjobs and eFinancialcareers are good websites as well. Some of the job links lead you to direct ads, some to consultants, but it's a good efficient way of trawling for stuff. I actually saw my current job on there (was a direct ad rather than through a consultant).

Just being the voice of realism.

GJ

From personal experience, would endorse all of that.

Greedy - if still interested in IDB, you might find this article/salary survey interesting:

http://news.efinancialcareers.co.uk/NEWS_ITEM/newsItemId-11608