Truth about Trading

I keep hearing two different progressions in trading. One is that everyone starts in back office and works their way up to eventual trader or front office. I also hear that once you are in back office, you are stuck in back office unless you get lucky.

Which is it? Is it different for different firms?

 

Depends, but I would say more towards the second. At least at BB's, i know most people in FO get hired into their, as with BO. There are certain people that move to front from back, but from what i've seen it's kind of rare unless you really want it for a while and/or get lucky there's an opening, especially now. However you might find it's different at smaller or prop firms. just my 2 c.

 

People can make it from the back office to the front office much easier. A lot of people start as a sales assistant/trading assistant which is basically a probational trainee and then if you are smart enough and skilled you can work your way up as a sales trader or possibly as an execution type trader.

 
Best Response

I think it can definitely happen, but it is pretty rare. From what I've seen almost every single person in sales, trading, or structuring was hired directly from ugrad or grad school, or from a front-office position at another bank.

Like everyone else, I've heard stories, but I've never personally met anyone who did it. And I can personally attest that on most of the desks I've been on (either working full-time or rotating during summer and full-time internships) I don't recall anyone who made that transition.

That said, like everything else this could very well change as a result of the crisis....

 

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