metals_trader
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Just a quick question I have been asked to check, regarding a trading assistant for a hedge fund what sort of salary would be the average amount that they would offer.
Trading Assistant Salary
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More details required.
Hedge fund? Established or start up.
Trader assistant? That job title can mean anything.
metals_trader
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A Dashing Blade
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Agree with D70
metals_trader
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thanks for you're replies guys. As you said he has no experience in this and one of the questions they want him to answer is the good old salary expectations. from a commodities house i know the average is normally between 35-40k, i just wasn't sure if it was the same at a fund.
metals_trader
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I can understand what you're saying. As you said in this market you can't be picky but then again i have heard places look down on answering with a lower salary just "to get the job" in the way you should know how much the position pays and not undercut yourself in business. I have always been led to believe that even in this current economic climate an established fund still in these conditions the pay would be a minimum 30k for a trading assistant. I know the pay is still holding up in commodity houses for an example. Thank you for your answer.
Magos
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Ok best hedge funds: job description. Trading Assistant with 2 or 3 years trading?
Where are you going to get trading experience + there is no min in this market condition... if you are unemployed and you need a job they will try to hire you for peanuts
Abercrombie
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I just wanted to ask, to be a Traders Assistant, do you have to have any experience? and could a fresh graduate become one? I was looking on efinancial careers and it said they want like 2-3 years experience.
Also what is the chances of become a Trader in a year or two time? I ask because I am looking for alternative routes into a career into Trading.
Also what is the chances of become a Trader in a year or two time? I ask because I am looking for alternative routes into a career into Trading.
Hi Abercrombie,
To be a trader assistant you dont have to have any experience. They do hire fresh out of graduate school when the head count / cost ties up.
Chances of becoming a trader are very slim and are getting slimmer. Sorry to be the bearer of bad news.
If you have a good degree, apply to all the banks for the graduate scheme. If you fail, do a masters and apply again. If you fail, do a phd and apply again.
.
To be a trader assistant you dont have to have any experience. They do hire fresh out of graduate school when the head count / cost ties up.
Chances of becoming a trader are very slim and are getting slimmer. Sorry to be the bearer of bad news.
If you have a good degree, apply to all the banks for the graduate scheme. If you fail, do a masters and apply again. If you fail, do a phd and apply again.
.
Abercrombie
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Thanks for the reply D70,
I thanks for the advice, I was just asking because in the worst case scenario, I won't be able to apply for graduate schemes because i will have a 2.2. In the best case scenario i will have a 2.1 from the LSE then i guess i can follow the traditional routes into Trading (i.e. through BB applications etc.)
Also, I was just wondering, what is the point of all the education though? other than a safe option does it really add that much value? Most firms have their own training scheme anyway and my degree covers a lot of Financial material etc.
Thanks.
I thanks for the advice, I was just asking because in the worst case scenario, I won't be able to apply for graduate schemes because i will have a 2.2. In the best case scenario i will have a 2.1 from the LSE then i guess i can follow the traditional routes into Trading (i.e. through BB applications etc.)
Also, I was just wondering, what is the point of all the education though? other than a safe option does it really add that much value? Most firms have their own training scheme anyway and my degree covers a lot of Financial material etc.
Thanks.
Hi Abercrombie,
The subject of your degree matters not.
If you get a 2.1 you should (asssumnig you interview ok) be able to get onto a grad scheme. If you get a 2.2 you will struggle but given your school, lse, you will still have a chance with the lower tier banks and if you have some other exceptional items on your cv / application.
Point of education? Geez. Talk about a BIG question.
Good luck with your result.
ps. I saw you posting about prop shops. Try not to take this route if you can.
If you got into lse, you can get into a bank / fund / paid employment.
.
The subject of your degree matters not.
If you get a 2.1 you should (asssumnig you interview ok) be able to get onto a grad scheme. If you get a 2.2 you will struggle but given your school, lse, you will still have a chance with the lower tier banks and if you have some other exceptional items on your cv / application.
Point of education? Geez. Talk about a BIG question.
Good luck with your result.
ps. I saw you posting about prop shops. Try not to take this route if you can.
If you got into lse, you can get into a bank / fund / paid employment.
.
Abercrombie
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Morning D70,
Yeah a lot of students at my school get multiple offers etc. i think i would feel safer if i did get the 2.1.
well given what you said about the degree subject doesn't matter, more education would have a very low marginal increase right?
Prop shops are literally investing with your own cash right? i thought prop shops were using the banks money to invest i.e. a prop division of an investment bank say? then i saw some people interviewing for a company for STA which just recreated the trader environment (Arcade?)
Yeah a lot of students at my school get multiple offers etc. i think i would feel safer if i did get the 2.1.
well given what you said about the degree subject doesn't matter, more education would have a very low marginal increase right?
Prop shops are literally investing with your own cash right? i thought prop shops were using the banks money to invest i.e. a prop division of an investment bank say? then i saw some people interviewing for a company for STA which just recreated the trader environment (Arcade?)
More education would have a massive increase to your value. Most top end jobs, at top end firms dont look at you if you dont have a masters or phd. Why? Because there are plenty of applicants with a masters or phd.
Prop shops: yes, some will back you but the common business model is for you to back yourself to some extent.
Prop in a bank: is completely different - they use the banks money to "invset".
An "arcade" is a "prop shop".
Hope that clears up your queries.
ps. why didnt you apply to the grad schemes before Christmas?
.
Prop shops: yes, some will back you but the common business model is for you to back yourself to some extent.
Prop in a bank: is completely different - they use the banks money to "invset".
An "arcade" is a "prop shop".
Hope that clears up your queries.
ps. why didnt you apply to the grad schemes before Christmas?
.
Abercrombie
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I thought that people chose additional education because of security.
Well in my second year, i applied to many banks, and i had many interviews, but in the end i didnt get anything, and i think that the whole interview process was a major distraction in my head as it took a lot of time to prepare for them and the psychological effects it had on me was bad when i recieved a rejection.
I decided not to apply this year because i have a 2.2 at the moment, and at LSE if you get 5 of the same grade, then that is your overall grade. for me to get a 2.1 i need to get an average of 60 this year. i wanted to put all my efforts on getting my 2.1
thanks for clearing that up. Prop shop sounds like its for the professionals as they take quite high fees. I am startin gto think about trading a little myself (not to make money, but just to be active in markets)
do you trade yourself careerwise? or a day trader?
Well in my second year, i applied to many banks, and i had many interviews, but in the end i didnt get anything, and i think that the whole interview process was a major distraction in my head as it took a lot of time to prepare for them and the psychological effects it had on me was bad when i recieved a rejection.
I decided not to apply this year because i have a 2.2 at the moment, and at LSE if you get 5 of the same grade, then that is your overall grade. for me to get a 2.1 i need to get an average of 60 this year. i wanted to put all my efforts on getting my 2.1
thanks for clearing that up. Prop shop sounds like its for the professionals as they take quite high fees. I am startin gto think about trading a little myself (not to make money, but just to be active in markets)
do you trade yourself careerwise? or a day trader?
My opinion is that people go as far as they can in education because it shows what you are capable of and that you have an aptitude for learning. Job security comes with being good at your job.
If you have a chance of upping your grade to a 2.1 this year. Go for it. As you say, drop everything to achieve it. Then the world is your oyster.
Best of luck.
.
If you have a chance of upping your grade to a 2.1 this year. Go for it. As you say, drop everything to achieve it. Then the world is your oyster.
Best of luck.
.
Abercrombie:
I tell you that trying to get a position to start with is near ****ing impossible... I say nearly as some people make it. Seems to me you have to be determined, passionate, smart, determined (Again to get past the first lot of rejections), smart and if you can be Lucky!
I graduated last year, I got the 2:1 I work in an FX brokers so I get my day-to-day exposure, but would work for peanuts for the opportunity to get in a trading boutique!! I wouldn't so much worry about how much they pay initially, look at the long term opportunities....
In this job market as a grad with no experience it seems like the sun aint shining unless you want to work in the world of recruitment!!
I tell you that trying to get a position to start with is near ****ing impossible... I say nearly as some people make it. Seems to me you have to be determined, passionate, smart, determined (Again to get past the first lot of rejections), smart and if you can be Lucky!
I graduated last year, I got the 2:1 I work in an FX brokers so I get my day-to-day exposure, but would work for peanuts for the opportunity to get in a trading boutique!! I wouldn't so much worry about how much they pay initially, look at the long term opportunities....
In this job market as a grad with no experience it seems like the sun aint shining unless you want to work in the world of recruitment!!
