Tough Decision
I went to a non-target polytechnic school where only accounting firms recruit. I want to be in trading, I'd prefer buy side but I would pick any. My school did not concentrate on quantitative subjects such as calculus, just accounting math which is just glorified arithmetic. I am less than a year away from getting a Bachelors in Accounting. I worked at a small discount broker for a year when I was 20 and was licensed to execute trades for retail clients.
As of now, I have dropped out of that program (left my job as well) and am in the process of transferring to UBC where I would pursue a Econ/Math degree (no transfer credits, 4 years; will probably finish it in less). Don't want to do a BComm. I'm 21.
From the outside looking in people might think I'm crazy for starting over. But given how difficult it is to get in trading I think I don't really have a choice but to go back and gain quantitative skills. And have a university degree so I can be in a position to get a good masters. To add, I live in Vancouver so I really could use a known name university on my CV.
I am inclined to believe that a CPA is the last thing a firm wants to see on a CV for a trading position. Am I justified in saying that? I could have my CPA in 3 years eagerly wanting to get the hell out of any accounting firm I get hired at.
What is your opinion on my decision to go back and do a more quantitative degree because I f*k'd up and chose the wrong school given my ambitions.
Thank you to all who responded constructively.
My $0.02:
This is insane. The quantitative skills you need for trading (unless we're talking about prop shops like D.E. Shaw or something with have insane math tests) are just basic math skills (e.g. how quick can you multiple 27 x 27 in your head, etc.)
CPA's will not get you into trading, but they certainly aren't a negative. Plenty of people move from accounting to the buyside (not super common, but I know people who have done it). Frankly, I think you either have the ability to do the math (or at least it to yourself on your own without school) or you don't. Networks can be built from scratch at any time.
I wouldn't have started over...
Starting over is ridiculous. One of the biggest misconceptions in this forum is that you need to be a math genius to be a trader. People in my floor have degrees like philosophy or medieval history. I know a structurer who is a lawyer. I really don't understand the logic behind what you are doing. Why not get a Master's in something more finance to get a good school name?
thank you for your responses.
having that said. the only job that I can get that will add any "prestige" to my resume if you will is if i go through the CPA recruit and get the designation. have you ever come across a trader on any desk where he/she has had an accounting designation or background. is there any bias toward accountants in trading?
thank you for your responses.
having that said. the only job that I can get that will add any "prestige" to my resume if you will is if i go through the CPA recruit and get the designation. have you ever come across a trader on any desk where he/she has had an accounting designation or background. is there any bias toward accountants in trading?
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