Associate hire in BB

Gekko21

HF

14y

Best Response

They take lateral hires (experienced hires on the banks website). Your best (and really only option) is to use any contact you have at a specific bank. Use old HS or college friends. Gain access to your college's (undergrad and masters) alumni database which lists their employer and job description (every college has one). The good news is that you are an experienced trader, so it should be relatively easy to switch as opposed to someone who does not trade. If you went to a non-target school or do not have contacts than getting an MBA is your best bet (you may have to leave the MasFin off your resume, too many questions would be asked, but do your own research on this). Also, if you have contact at the bank you don't need to wait to contact people as lateral hires can be interviewed/brought on whenever and is usually pretty group specific.

Also, where/what was your masters degree?

"Greed, in all of its forms; greed for life, for money, for love, for knowledge has marked the upward surge of mankind. And greed, you mark my words, will not only save Teldar Paper, but that other malfunctioning corporation called the USA."

Brady4MVP

HF

14y

Gekko21:
They take lateral hires (experienced hires on the banks website). Your best (and really only option) is to use any contact you have at a specific bank. Use old HS or college friends. Gain access to your college's (undergrad and masters) alumni database which lists their employer and job description (every college has one). The good news is that you are an experienced trader, so it should be relatively easy to switch as opposed to someone who does not trade. If you went to a non-target school or do not have contacts than getting an MBA is your best bet (you may have to leave the MasFin off your resume, too many questions would be asked, but do your own research on this). Also, if you have contact at the bank you don't need to wait to contact people as lateral hires can be interviewed/brought on whenever and is usually pretty group specific.
Also, where/what was your masters degree?

I'm in the same spot as the OP. I have about 5 years of work experience total, currently at a small hedge fund working for a group that trades equity pairs using a stat arb strategy. But I don't have a quant background.

From talking to people, it seems like banks really aren't hiring traders right now except campus recruits and very senior people. I'm considering reapplying to MBA programs this year because if I can get into a place like uchicago or columbia, I think getting a BB trading job would be almost guaranteed.

Authored by: Certified Hedge Fund Professional - 3rd+ Year AnalystCertified Hedge Fund Pro

hehehahi

ST

14y

Thanks for your comment, Gekko. I think it's a good suggestion to contact the existing network. Back to my original question, so I guess from what you said the answer is 'no'?

As for my background, I got my master in science from a non ivy but yet pretty decent (top 3 public) school in US, although personally I don't think where you go to school counts as much for experienced candidates as it does for fresh graduates, maybe I am wrong. I also considered lateral hires, but I am deeply frustrated, since normally lateral hires require more experiences, i.e. AVP to director level (5-7 yrs) and I still consider myself a junior level candidate and don't think I'm qualified for that. And that's exactly why I raised my original question at the first place.

Finally, if that's true that MBAs have a better chance, may i ask why? No offense, but personally I really can't see for a trading role why a fresh MBA has any edge over someone already with 2 yrs experiences in this business.