Career advice needed - Interdealer broking as a Grad
Hello all,
Long time lurker, first time poster.
Anyways I am a student and I am about to finish my final semester.
News headline have stated that the job market in my country will face a much greater squeeze in 2013 and are expected to get "worse"
Recently I sent my application for an interdealing company for a Grad position in Electronic broking and have an interview coming up. At first I wasn't sure what sort of "responsibilities" it would entail working there but upon reading around forums and thus "ideal candidates" should be outgoing etc etc, I def realize that this area is not for me.
I am a self confessed nerd who likes to sit infront of the screen analysing data that flows to my desk and thats about it.
However, given the condition of my country economy, my mates said to me that i need to compromise, that is, "take what is given to me". Hence, suppose i turn down the offer from the IDB, there is a chance I might not find another job again. But i know that working in IDB there are NO EXIT OPPS, i will learn nothing on the job (from what I read). Is this true?
Should I take up the job once they offer it to me?
Thanks guys
If you have no other offers, why not take it?
Thanks for your reply!
True, but I thought about using recruiters, not the most efficient but my last job was at a back office which was OK. And I have seen people progress to wealth management and to the front office in trading but the degree of difficulty in making the transition is somewhat vague to me.
I dont wanna sound "arrogant" or "snobby", but my degree was in finance and mathematics and i think i am somewhat selling myself short if I took up the IDB job.
I enjoy working "with" people or on my own, but I am not only that I am not the sort of person who goes out there way to "groom" my clients for business. It feels so "degrading"
100% take the job, if anything you can re-neg.
Definitely not true about 0 exit ops. It is what you make of it, you'll have clients to talk/network with. E-Brokering seems to be the future and is what many products are converting to.
Job security is pretty good, especially in this environment. Trades happen no matter what, the crisis was actually good for alot of broker shops when volatility was high. 100% take the job, its way better than something like OPS/back office, until you get something you really want.
Thanks for the reply!
In my country, there is a lot of emphasis on skills and work experience. If I was to put down the IDB on my resume, I am not sure what skills I have learnt. Its def not cash flow valuation or option pricing or anything related to the fancy schmancy FO responsibilities. Hence, networking is a mirage, its not like America or Europe where you know someone on the inside means there is an "advantageous" gain, its all about experience experience experience which really irritates me.
Not only that the E-brokering requires me to ensure the clients are utilising the company's e-brokerage software but I have to go out there and "sell the software" myself. Tbh, I am not the salesy sort of person and as mentioned above, I am not a "sociable" individual, ie, I put my head down and just do my work.
one of my friend recommended me to apply for the public sector which sounds pretty appealling but yet, i feel like i am selling my self short since my degree is focused on finance and maths. But yes I do acknowledge the fact that "beggars cant be choosers" during this economic environment
But what happens if the economy picks up?
What can I do if i "quit" the job?
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