Where to go?

[ashbrook]

Hi all,

This is my first post on here. I came across the site via a Google search relating to the qualifications needed for trading...but more about that later.

Basically, I've just finished the 2nd year of a degree in Finance & Investment Management (at Northumbria University) and I'm averaging a first which is an unexpected but pleasant surprise to say the least. I've resorted to using the web as a source of career information since our "careers department" is a joke to say the least and thus have no idea about or experience of the City environment.

I've got nearly 4 months of sitting around now that I'm finished and so I'd like to do something productive with my time with regards getting prepared for employment upon graduation.

I'm thinking of doing industry qualifications to make myself more employable when I start applying for jobs in September onwards...is this a good idea?
Also, my head tutor is able to teach the PRM qualification. Does anyone have any experience of this. As in, is it a useful qualification to have etc.?

With regards jobs, I'm keen to get a job in trading but I fear my lack of maths skills (i.e. no formal qualification in maths beyond GCSE - apart from a stats module in my first year at uni) will hinder me. That said, I am mentally sharp with figures and analysing situations.

I'm looking for some advice concerning what people feel is the best route for graduates to follow in order to get a job in the City - preferably tailored to trading but general advice will be more than appreciated.

P.S. - sorry for the length of the post!

Cheers

 

[cr6196]

Why you want to trade as opposed to anything else?

SII exams are good, am thinking of doing them myself...maybe...dunno what PRMs are.

As regards to maths, it depends what kind of trader you want to be i suppose?

Not to discourage you...the degree is good but if your looking to get a job in an investment bank...it might be quite hard...

 

[ashbrook]

I'm attracted primarily by the money...as I suspect just about everyone who enters the industry is. I'm pretty much driven by a desire to get out of the rut that is the North-East and earn good money and experience a life where decisions I make matter as opposed to working in a call centre until I'm 70.

Sorry - the PRM is the Professional Risk Managers exam (http://www.prmia.org/certification/cert.html).

Well that's the issue I'm faced with; I don't know what exact skill set each type of trader needs. I've only just started looking into employment in the last few days.

I understand that getting a job in the City will be hard, particularly with my degree being from Northumbria as opposed to a red-brick uni but I'm certainly going to do as much as I can to get one.

 

[ashbrook]

Yeah I've read ( and heard ) numerous stories about the ridiculous hours but the way I see it is I'd rather work long hours and earn a bigger amount of cash than work fewer hours in a ****ty job in a call centre in the North-East.

I've got a genuine interest in the markets etc. (hence I turned my back on a plumbing apprenticeship to go back to college and uni) and I think I'd be able to handle the long hours and what have you. Problem is just getting the chance to experience it and as you say, find out for myself!

 

[cr6196]

I agree, but the jobs will be essentially similar...all day spent on the phone staring at a computer...but for the same amount of money...well probablly not, i know they aren't the same at all but a career in finance isn't what is made out to be, for example, grad job with aldi...40k a year with a car after 2 years that is up to 60k...essentially an easier job, far less stress, far less competition, far less chance of losing ur job, u have to put it in perspective.

Best way to get experience, is trade...this isn't easy either, i couldn't see myself learning again, is easier if you get someone to teach you but...finding someone willing to do that...lol.

Best way for the industry is an internship, is reli essential you get one, otherwise the only other option is the back office...

If you have any more questions PM me. But good luck to you, ultimately if you want to do it you will, but you shouldn't get blinded and think it is something it isn't, it isn't freedom, its a job, essentially the same as any other.

 

[arabianights]

4 months off you say? Why not apply for a prop firm (by which I mean the arcade type incidentally) now and have a go for a couple of months... if you're doing very well and enjoying it then just defer your third year. You'll definitely get an interview from a couple of places based upon what you've posted.

And if you aren't enjoying it/doing well then you'll have been living in the city and will have a much better idea about the trading roles than anything you can pick up from a forum.

 

[ashbrook]

That's a fine point. What do you mean by the arcade type? Sorry I'm not entirely up to speed.

I did think about applying for jobs on the basis that you have described but to be honest, I spent hours almost obsessively looking for jobs but found very little. I think that's probably down to the ongoing crisis - either that or I'm looking in completely the wrong places?!

If you could suggest some sites to look at, that would be tremendous and very much appreciated!

 

[cr6196]

efinancialcareers.com...or.uk

 

[arabianights]

There is a list of arcades on this website but it's very out of date - you're best off just phoning around and asking, applying speculatively.

One obvious one that comes to mind is Schneider.

 

[ashbrook]

Ok thanks very much guys, you've been more than helpful! That link is particularly useful - I've never seen that site before! I think my Google searching skills may need to be downgraded quicker than US earning forecasts!

 

[arabianights]

Oh, and anyone that asks for money/payment of any kind is a con.

However a place that will not pay you anything is not necessarily a con.

 

[Claudia123]

Don't totally agree with Arabian - you pay to go to uni (student loans etc) so why not pay to learn to trade. Go trading by yourself and you will lose - whatever way you go there is a price to learn.

Talk to one of the prop shops like futex - go down the interview road with them whilst you got time. You will meet traders and should give you a better insight into the industry than you have.

Just my thoughts - but good luck whatever you choose.