Career in Banking vs Trading

[jtm23]

Hi There.

I was fortunate enough to get a job as a broker for a firm in London in November after finishing school in Australia. I'm returning to Australia next week to work for the same firm there. But I've been considering my career options.

Since I was 12 I always wanted to get into the finance world either as a day trader or an invesment banker. But I don't know anyone who works in those industries so it's hard for me to get advice off anyone. I'm considering studying a degree in economics through the Open University whilst continuing to work full time, but I've also considered quitting work and studying economics full time at a university in Sydney.

Which path would you recommend for me to take to pursue a career in day trading / investment banking?

Any comments or assistance would help me a lot.

 

[BeginnerJoe]

You don't need a degree to get into gambling. But getting a degree will allow you to get into most things. So degree come first. Gambling can come later.

 

[ordinaryguy76]

I love your thread title - Career vs Gambling. If you have any chance for a career - go for it. You will then be able to gamble some of your income to your heart's content.

 

[jtm23]

You don't need a degree to get into gambling. But getting a degree will allow you to get into most things. So degree come first. Gambling can come later.

So which option do you feel is better, degree through open university whilst working or commit fully to a degree and attend a uni?

 

[BeginnerJoe]

So which option do you feel is better, degree through open university whilst working or commit fully to a degree and attend a uni?

Neither matters so long as you get a degree. Life then becomes easier. Otherwise a lot of doors will be closed to you - in that case you are more than likely end up in a casino.

 

[ffsear]

Talking generally,If its a proper degree then yea. Otherwise its experience that counts these days. No point in degrees such as marketing.

But if you deffo want to go into investment banking, then you need a 1st in economics most likely

 

[jtm23]

Talking generally,If its a proper degree then yea. Otherwise its experience that counts these days. No point in degrees such as marketing.

But if you deffo want to go into investment banking, then you need a 1st in economics most likely

Thanks a lot, I'm planning on doing Economics through the open university so I can continue to work.

 

[jtm23]

Neither matters so long as you get a degree. Life then becomes easier. Otherwise a lot of doors will be closed to you - in that case you are more than likely end up in a casino.

Aha thank you, well I'm going to go for the degree

 

[ffsear]

Thanks a lot, I'm planning on doing Economics through the open university so I can continue to work.

To be honest, they will probably over look an application from someone who studies at the open university . Investment Banks have thousands upon thousands of applications for just a handful of jobs, they can afford to only look at applications from only those who go to a top 5 university. The rest go in the bin.! This comes from a friend of mine who work in HR at Deutsche Bank.

 

[BeginnerJoe]

To be honest, they will probably over look an application from someone who studies at the open university . Investment Banks have thousands upon thousands of applications for just a handful of jobs, they can afford to only look at applications from only those who go to a top 5 university. The rest go in the bin.! This comes from a friend of mine who work in HR at Deutsche Bank.

I was in Deutch once. I told them I was getting nothing out of it and left.

Obviously having a degree from good universities helps. But I don't believe it is critical. It is not what you got, but how you use it. Nevertheless, it's much better to have got it (wherever it may come from) than not.

 

[ffsear]

I was in Deutch once. I told them I was getting nothing out of it and left.

Obviously having a degree from good universities helps. But I don't believe it is critical. It is not what you got, but how you use it. Nevertheless, it's much better to have got it (wherever it may come from) than not.

Yea i don't believe you need a degree at all to work in investment banking. But you do need one (a good one) to get an interview in the first place.

 

[jtm23]

That being said, I have friends you have studied at Oxford and gone on to have interviews at JP Morgan but never got offered a job, so I think a degree is important but also experience. True?

 

[tommac]

Back door route---go meet and mix with the right people---I made " friends" in the city to bypass HR and straight in to the IB dealing room.Trainee board boy -lol-- to AVP (forex) without a formal interview or CV Its probably different now -good luck

 

[ffsear]

Yea just try and get your foot in the door somewhere. My route into trading actually started as Client Services for a sports spread betting firm, then moved to the financials side, then onto the dealing desk.