Just How Many of You Guys Made the Move from B/Office??

[MintyB]

Hi There,
Just curious really about how many of you, now trading, made the jump from back/middle to front office (in any capacity!!)?

I had the "unfortunate"** experience of leaving uni and going straight into a front office environment (I was part of the ill-fated Nymex Europe set up -trade reporter in the pit) only to be let go when it collapsed and have since moved to the back office of an investment bank, trying my best to network and endear myself to all around me in the hope that an internal vacancy in f/o pops up!

** I say "unfortunate" due to the fact I believed Nymex would work and it was my ticket from reporter to clerk to jnr trader to, well you get where this is going....
Only for it to blow up in my face, dream dead/supressed-for-awhile
God I miss the banter of the floor!!!!! :cheesy:

 

[celtictrader]

Have you looked at any of the prop firms .Its usually alot harder to get a trading position in a blue chip bank. Might be worth considering. Your experience to date will stand to you.

 

[fcmisc]

I went from back office IT monkey (looked after the worthless fools who ran the internal websites at an IB) to a prop firm.

I have a friend who went from a similar IT role, to a spreadsheet developer role on a trading desk, to trader.

 

[A Dashing Blade]

to a spreadsheet developer role on a trading desk, to trader.

Know several guys who made that move

 

[MintyB]

Haha "IT monkey" doesn't exactly inspire pride or confidence in my current role!!!

Thats good to know though, so many thanks to all! I appreciate your time...
The current bank I work for ask for 18 months in one department before looking for a move anywhere, I've done 9 so I might see where it gets me in a years time, see is there any junior roles going in the lofty heights of f/office and chance my arm!!

Just a note as regards a prop firm, am I right in thinking its market speculation as opposed to filling client orders? Using a large pool of the firm's money?

And secondly, though I was enthused to hear my current experience will stand to me, if I wait a year (bringing my b/office experience total to 2 and a half years in all) do you think there's a chance prospective employers may pigeon-hole me as Ops-only? Or do you think it further enhances my chances?!?

(Just looking for opinions as opposed to answers!! I know few of you are in a position to give me definitive yes or no's!!!)

 

[enterthe]

The current bank I work for ask for 18 months in one department before looking for a move anywhere, I've done 9 so I might see where it gets me in a years time, see is there any junior roles going in the lofty heights of f/office and chance my arm!!

If your're on the grad scheme at a Suisse bank, don't believe what HR are telling you.

 

[RichieE]

I went from back office IT monkey (looked after the worthless fools who ran the internal websites at an IB) to a prop firm.

I have a friend who went from a similar IT role, to a spreadsheet developer role on a trading desk, to trader.

I have been told several times that the route of front office spreadsheet developer to trader is well trodden path. I am an ex-Bloomberg Excel/VBA/VB6.0 specialist and was considering that route. However, I am currently at a prop shop at the moment doing a bit of both.

 

[fcmisc]

Do you get paid to Excel monkey, and trade your own account, all at the same time?

Or do you do the Excel monkeying for your own personal projects?

I have been told several times that the route of front office spreadsheet developer to trader is well trodden path. I am an ex-Bloomberg Excel/VBA/VB6.0 specialist and was considering that route. However, I am currently at a prop shop at the moment doing a bit of both.

 

[Lucky_81]

With 2 years BO experience you will definately be pigeon holed for back office only, especially by agencies. An agent will look at the easiest way to secure you a new role and secure their commission!

I'm not saying it's not possible, I made the move from corporate actions to trading, but I found the best route was direct to the banks/prop firms rather than through agencies.

 

[RichieE]

Do you get paid to Excel monkey, and trade your own account, all at the same time?

Or do you do the Excel monkeying for your own personal projects?

I do the Excel stuff (and VB.NET) for myself and trade my own account (well, a house account that has been given to me, it's not my money!) I have the freedom to do what I like for my own book in terms of programming but will have to demonstrate that I've done my due diligence before I try to trade any ideas since I'm a newbie.

My boss generates the trade ideas that I am modelling and will distribute to the team. There is a separate financial arrangement where I will get paid for the grey boxes I'm creating.

(I've tried to trade and program at the same time... my advice is don't do it! It's extremely difficult to do either without your undivided attention and you'll mess both up).

 

[fcmisc]

Interesting stuff. Your role sounds very similar to mine.

I have to disagree on the trading and coding thing though. Coding helps me to let profits run, as it stops me cutting my positions too soon.

I do the Excel stuff (and VB.NET) for myself and trade my own account (well, a house account that has been given to me, it's not my money!) I have the freedom to do what I like for my own book in terms of programming but will have to demonstrate that I've done my due diligence before I try to trade any ideas since I'm a newbie.

My boss generates the trade ideas that I am modelling and will distribute to the team. There is a separate financial arrangement where I will get paid for the grey boxes I'm creating.

(I've tried to trade and program at the same time... my advice is don't do it! It's extremely difficult to do either without your undivided attention and you'll mess both up).

 

[RichieE]

Interesting stuff. Your role sounds very similar to mine.

I have to disagree on the trading and coding thing though. Coding helps me to let profits run, as it stops me cutting my positions too soon.

Well that would've been a nightmare today as the Alaskan earthquake caught me unawares as I was putting on a fly and completely ruined my day At least I kept my eye on the Bloomie... even if it was late reporting it...