Broker Advise

[villaman84]

Hi,

After a few years in operations/sales i decided to start a career in brokerage and have recently been offered two positions as a "trainee broker" which in the current climate im very happy with but also struggling to make a decision....

Company A) Old fashioned Stock Brokers, mostly private client but put you through exams etc

Company B) Top 5 commodity broker on oils desk.

I know this is a trading site but just wandered if any of you guys had an opinion/ what these paths could lead to etc

Much Appreciated

AK

 

[Posca]

Both sound great! - I take it these are the CISI exams they have offered to put you through?

 

[villaman84]

Thanks, yeh both CISI....the inter dealer broker is appealing more but then again not sure if i should specilaise so soon and will kick myself if its one of those trigger happy hire/fire firms! Private client just looks slightly boring but could be a good grounding......

 

[ThinkForexJB]

There is nothing but positives associated with these options and you can't go wrong either way. As it seems like you are just starting out your career, you will likely change your opinion of the positives and negatives associated with each as your career progresses.

Just from your second post I'd say you are leaning towards the interdealer position. IDBs are making huge strides in emerging markets right now. Some IDBs lack the sizzle of the larger investment banks and can be looked down upon. Being biased, I tend to think that specializing is the way to go.

It doesn't matter if you are an athlete, teacher, stockbroker, doctor or garbage collector. If you learn your craft inside and out, you can add nothing but value to your company, your career and your frame of mind. Somewhat unrelated, but check out Fred Factor by Mark Sanborn if you haven't already read that. I think that a lot of people starting out their careers should read that to get a good idea on how to make the most of a career.

Best of luck in whatever decision you choose and keep us posted!

Justin

 

[welco11]

Mate that's the equivilant of saying do you want to earn minimum wage or be a millionaire.Take the oil broking job all day long the pay at private client brokers will not even come close even to a successful institutuional oil broker.

 

[majicka]

Oil broker - no question. As has been said, the pay in private is a LOT less and the role is less challenging.

I work in private client broking, so I'm talking from experience!

 

[villaman84]

Cheers guys,

Actually took the stockbroking job as the oil broker was messing around with contracts etc.

Thing is they finally got their act together and now want me to start on the Fuel desk in May and for the life of me i cant decide whether to jump ship already.......am starting to get impression pay is shi* and its boring here so i suppose its a no brainer!