How to secure career in trading

meanreversion

Senior member
3,398 536
When I worked at a bank, we would have a grad intake every year, and most of them would stop by to sit with me on the desk.. they all wanted to be traders. One of the first questions I would ask them is "have you traded your own account". About 70 pct replied no. Well, sorry but if you're that keen on trading and haven't even tried it in small for your own account by the age of 22-23, kinda suggests you are not THAT interested.
 

D70

Established member
839 195
when i worked at a bank, we would have a grad intake every year, and most of them would stop by to sit with me on the desk.. They all wanted to be traders. One of the first questions i would ask them is "have you traded your own account". About 70 pct replied no. Well, sorry but if you're that keen on trading and haven't even tried it in small for your own account by the age of 22-23, kinda suggests you are not that interested.
agree.
 

meanreversion

Senior member
3,398 536
I have to question your motives here (and this is what the interviewer will do). Why are you interested in trading, is it because you like to trade (obviously not) or is it the money you imagine you will earn (I'm guessing the answer is yes to that question).

Whilst financial rewards clearly need to be taken into account, it must not be the only consideration. The interviewer will work this out immediately.

You have a MBA and maybe the job market is a little tough. But try applying for something in which you have an interest (corporate finance?). If you do get accepted as a trainee trader somewhere, your MBA will be of little use and you will be starting from scratch - is that what you really want, seeing as you have not displayed any interest in trading in the past?

You need to be aware that the interviewer will be significantly harsher than I have been, as they will see 10 people like you every day of the week.
 

D70

Established member
839 195
I have a similar tale to that of meanreversion.

A few months ago I met up with a mate who has worked at the banks for 6 years or so. In all his jobs he has been "promised" a move to the "desk", next year mate, next year, they say.

He has excellent degree, and masters, plus all good extra qualifications like captain of rugby team etc etc and is on top of this, a very likeable guy.

He still hasnt been given the leg up to a desk.

We were chatting about this and he in no uncertain terms asked if I could sort him out. I said, absolutely mate. Just give me a bit of chat about the trading you have been doing on the side and the trading books you like so i know how to sell you to the boss of the bosses and can describe the trading style you are going to employ.

Response.
"I havent done any trading or read anything mate."

I suggested he spent the next few weeks getting an account and having a flutter so he could chat about trading in some context. On checking up to see how he was doing (as I would have loved to have had him on the desk) he hadnt done anything. So unfortunately, that was the end of me being able to try to help him out.

Most people "expect" rather than earn their place.
 

swissy

Senior member
2,130 227
This is excellent advice. If you have an MBA do you really want to put all that hard work to gain it to being a trader where it will be of little use. If you want to be a trader you will have to demonstrate your commitment to be employed - qualifications don't hold much water in this game. They are only interested (as in any business) as to how much money you can make (for them primarily). I am an amateur trader but the advice given applies to any job or role in life.

Swiss
 

BuddingTrader007

Junior member
24 0
I highly appreciate your reply and i think I need to explore where exactly i can take advantage of my MBA.

Secondly, at this moment i am keeping my options open and I am aware that i really need to work on myself on trading side for which I am planning to join some work-shop which don't cost much but would give some knowledge regarding trading and would be beneficial.
 

meanreversion

Senior member
3,398 536
BT, I don't wish to bang on about this, but it's a tiny bit late to suddenly develop an interest in trading. By all means pursue it as a sideline, but most if not all trading shops you apply to will want to know of prior experience, and you don't have any.

You must be 23, 24? The fact you've never traded means you're not interested in it, but because the job market is tight you see it as a possible well remunerated career option. You are going to struggle badly when put alongside people with similar qualifications who HAVE been trading.

Do you have any interest in financial news? Do you find the whole concept of QE fascinating and perplexing in equal measure? What is the GDP of the US (without googling it)? Do you read the Economist? And so on.

You need to be truthful to yourself and work out what you really want to do, and aim for that. If that's not possible, then by all means attempt to go down the trading route, but just be prepared for serious competition (banks are not really hiring MBAs anymore either).

Corporate finance is a well paid area, a friend of mine does it at KPMG, maybe talk to the accountant groups?
 

meanreversion

Senior member
3,398 536
If you are fairly sharp with numbers, you could always try applying to an arcade (Futex, Schneider).. they interview a large number of grads each year but take only a few. It's probably your quickest route into trading.
 

Blaiserboy

Well-known member
391 24
If you are fairly sharp with numbers, you could always try applying to an arcade (Futex, Schneider).. they interview a large number of grads each year but take only a few. It's probably your quickest route into trading.
I quite agree with your recent posts in this thread..... I am thinking that the idea of being a trader comes up as there is not much in the way of work available, the lure of the money is appealing.....

Best approach is to open a small account and get into it, get to successful stage and then take account statement to the interview.
 

mont

Newbie
1 0
I have recently completed my MBA during which my module study included Corporate finance, therefore I am planning to go for career in trading as I am highly interested and enthusiastic about taking it as a career.
I am planning to do CISI in investments and later join trading floor in a proprietary house in order to have some experience on trading floor. Can anyone advice me what all hurdles I can face during my career plan or what can be done more effectively in order to secure career in trading.
I wish you the best of luck but really think you have to do a lot more research about all this as to what you really want to do ...........and why? In my experience most people use the words "trading" and "trader" without really having a clue about what they mean. As a more mature candidate you really need to spend more time looking into how the financial markets work and who does what within them. You will need to apply for a job where your MBA (which you chose to do) is seen as a real asset. Think maybe you should broaden your horizons and concentrate on getting a job (any job) within a good firm and take it from there. If you then can prove you're talented in certain areas you'll get the chance to move around.
 

petrojobrecruit

Newbie
3 0
For a career in trading, you have to have stong mathematical ability (advanced degree in Maths) and good analytical skills as 'hard' skills. If you have are an MBA in Finance, with an undergraduate in Maths, Physics or Engineering, you are a likely candidate for a job with a Trading House. Start as an Junior Analyst or Junior Trader.

Cheers,

Site Administrator
PetroJobRecruit.co.uk
(International Oil&Gas Industry Job Board)
We also cover Oil Trading Jobs
 

sk1105

Member
58 5
As has been mentioned several times in this thread, you really ought to evaluate why a) you did an MBA and b) why you want to be a trader - because the two do not compliment one another.

Also, you say you studied Corporate Finance and therefore you want to be a trader, which suggests to me that you have little to no idea of what trading is because corporate finance is an entirely separate field altogether (though an equally lucrative one, at that...).

So in summary - ask yourself some pressing questions. If you want to be a trader because you want fast cars and b*tches, and you think your MBA will be beneficial, you really need to think long and hard about your situation.

If I were you, I'd utilise the MBA and find a professional career in the finance industy working for a bank, an accountancy or law firm. Here your knowledge is likely to be far more suited, and your qualification far more appreciated (as it ought to be!). Once you've secured a career, start trading on the side in your spare time. After a while you'll get a better understanding of whether it's for you or not, and it'll put you in a far better position for future trading job applications.
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock