Is it hard to get a BO job right now?
Assuming one wanted to get a job doing something along the lines of trade settlement (not for the purpose of trying to move to the FO, just because they thought it was an intrinsically desirable position), are such jobs becoming increasingly scarce as trading jobs themselves are being cut and trading volumes decline? Even if the number of BO jobs is remaining stable, is it likely that recently laid off traders are flooding into these jobs in the hopes of networking their way back to the FO? Oh, and one more question (because I'm a noob), are entry level BO jobs only available at banks, or do hedge funds also hire entry level BO employees?
Any insight on this from the people in the trenches would be greatly appreciated.






I'd say it's a litle more
I'd say it's a litle more difficult than usual to get any job @ a BB right now. A lot of BBs are going the contractor route for BO jobs (aka hiring workers on 3-6 months temp to perm contracts with no benefits and hourly pay). It's less risk on their part in a time when they don't know where the markets are exactly heading.
You talk about trade settlements as if it is a major part of BO jobs @ BBs, while actually it is only a small part of the BO/MO. There are a plethora of compliance, paper pushers, and adminstrative related jobs that all fall into BO. From what I have seen, it is extremely hard to get a BO job that involves being on the trading floor if you are entry level (such as trade support/trade settlement). And yes, HF hire trade support guys but they usually prefer at least 1 year of experience @ a BB on the trading floor. The alternative is knowing somebody @ a HF.
And no, I don't think traders are taking BO roles. I just don't see it happening. They'd rather go trade their own capital or go consulting than stoop down to a BO job. Once you work FO, I don't think you every really go back to working below that (unless you're nuts).
rothyman wrote: Once you work
Once you work FO, I don't think you every really go back to working below that (unless you're nuts).
...or if you go from MM FO to BB BO and capitalize on the fact that they'll pay for masters degree / law school at night and save yourself a small fortune while getting paid :) ...that's one of the angles I'm working on at least.
I just had my first UFO experience.
I called my wife fat while we were making dinner.
Flying saucers everywhere XD
UFOinsider wrote: rothyman
Once you work FO, I don't think you every really go back to working below that (unless you're nuts).
...or if you go from MM FO to BB BO and capitalize on the fact that they'll pay for masters degree / law school at night and save yourself a small fortune while getting paid :) ...that's one of the angles I'm working on at least.
Genius. :)
rothyman wrote: UFOinsider
Once you work FO, I don't think you every really go back to working below that (unless you're nuts).
...or if you go from MM FO to BB BO and capitalize on the fact that they'll pay for masters degree / law school at night and save yourself a small fortune while getting paid :) ...that's one of the angles I'm working on at least.
Genius. :)
UFO, I always thought you did Ibanking and moved in to P.E? Ur currently working at MM IB FO role and want to swtich to BB B.O so they wold pay for ur law school? I thought u started out B.O and moved to F.O..
Also to the O.P, B.O jobs are
Also to the O.P, B.O jobs are hard to come by...I go to a non-target and my school places very well in B.O and M.O and only three banks, UBS, MS AND JPM recruited for B.O...MS upstate NY and UBS AND JPM in NYC.. Didn't hear back from anyone...
rothyman wrote: UFOinsider
Once you work FO, I don't think you every really go back to working below that (unless you're nuts).
...or if you go from MM FO to BB BO and capitalize on the fact that they'll pay for masters degree / law school at night and save yourself a small fortune while getting paid :) ...that's one of the angles I'm working on at least.
Genius. :)
You guys hiring?
For real: I'm looking for a two - five year committment and grad school covered. You'll get every penny's worth out of me as far as work ethic goes.
Only thing keeping me where I am is reading about a thousand people laid off from the bigger firms every week or so...
I just had my first UFO experience.
I called my wife fat while we were making dinner.
Flying saucers everywhere XD
TheKid1 wrote: rothyman
Once you work FO, I don't think you every really go back to working below that (unless you're nuts).
...or if you go from MM FO to BB BO and capitalize on the fact that they'll pay for masters degree / law school at night and save yourself a small fortune while getting paid :) ...that's one of the angles I'm working on at least.
Genius. :)
UFO, I always thought you did Ibanking and moved in to P.E? Ur currently working at MM IB FO role and want to swtich to BB B.O so they wold pay for ur law school? I thought u started out B.O and moved to F.O..
I'm MM AM and would go to a BB's back office if they paid for law school / masters. My firm covers 50% but I want to go to NYU / Columbia and they are expensive: I'm not working my balls off for the next 3-5 years while paying for education, I did that in college, fuck that. If a firm doesn't pick up the tab, then I'll go full time and take out loans. Working full time and paying for my own part time degree is not worth it in my case as I'm trying to either A) establish myself in a large company or B) use grad school to reset the recruiting options. My current job is a stepping stone and I'll have moved on within a year or so
My options as I see it are:
Part time at night with 100% paid for by employer OR
Full time and I borrow money to pay for it
Long story short (and I'm truly sorry that I'm thread jacking) is that my two years are up in a month and I'm putting my soul back on the auction block. Who wants a piece of the action?
I just had my first UFO experience.
I called my wife fat while we were making dinner.
Flying saucers everywhere XD
Man carefully research that
Man carefully research that shit before doing this whole school thing. Who knows what kind of clauses they have to retain you and make sure people don't try to do what you think is so easy to do. You will either be stuck there or you will be put on some kind of a vesting schedule and be forced to pay back some of that tuition.
Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.
rothyman wrote: You talk
You talk about trade settlements as if it is a major part of BO jobs @ BBs, while actually it is only a small part of the BO/MO. There are a plethora of compliance, paper pushers, and adminstrative related jobs that all fall into BO. From what I have seen, it is extremely hard to get a BO job that involves being on the trading floor if you are entry level (such as trade support/trade settlement). And yes, HF hire trade support guys but they usually prefer at least 1 year of experience @ a BB on the trading floor. The alternative is knowing somebody @ a HF.
Interesting. Do hedge funds also hire for the "plethora of compliance, paper pushers, and adminstrative related jobs that all fall into BO"?
Flake wrote: Man carefully
Man carefully research that shit before doing this whole school thing. Who knows what kind of clauses they have to retain you and make sure people don't try to do what you think is so easy to do. You will either be stuck there or you will be put on some kind of a vesting schedule and be forced to pay back some of that tuition.
shit, good call
I just had my first UFO experience.
I called my wife fat while we were making dinner.
Flying saucers everywhere XD
UFOinsider wrote: Flake
Man carefully research that shit before doing this whole school thing. Who knows what kind of clauses they have to retain you and make sure people don't try to do what you think is so easy to do. You will either be stuck there or you will be put on some kind of a vesting schedule and be forced to pay back some of that tuition.
shit, good call
There will be a prenup.
Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.
UFO, I am a senior in
UFO, I am a senior in college, but I have heard that most companies that pay for your tuition will require you too say for a few years before you could leave or you would have to pay it back. If your looking to get back in recruiting from NYU or Columbia, i would go full time and take the loans. I am pretty sure if you decide to go into banking or consulting you will make enough money to pay your loans back in no time..
TheKid1 wrote: UFO, I am a
UFO, I am a senior in college, but I have heard that most companies that pay for your tuition will require you too say for a few years before you could leave or you would have to pay it back. If your looking to get back in recruiting from NYU or Columbia, i would go full time and take the loans. I am pretty sure if you decide to go into banking or consulting you will make enough money to pay your loans back in no time..
Definitely. I guess I'm just go through every option with a fine tooth comb.
Back to the original conversation: hiring in BO / MO
Hiring is mostly over for this year and there were slim pickings. One of the newbies where I work came from a BB BO contract position and he really isn't a very impressive candidate. Try for a temp position and work your butt off, and it's likely they'll keep you around...then start networking and go for the jump to FO if that's your goal.
I just had my first UFO experience.
I called my wife fat while we were making dinner.
Flying saucers everywhere XD
Back-office jobs are very
Back-office jobs are very hard to get right now, just like all other finance jobs. Firms that are firing massively in the front office generally dont go on back-office hiring sprees. Also, benefits such as education payment become much more difficult in this environment...no firm is going to let you game them by running up a huge education bill and then leaving. I am not sure that ever really was possible but especially not now.
I know one guy moved from BO
I know one guy moved from BO to be a trader and he has been working in the BO for 2-3 years. It is definitively possible. Good luck!
I work in the BO of a BB so
exhausted][quote=rothyman
I would say that it is
trailmix8 wrote: I would say
rothyman wrote: trailmix8
BO is getting outsourced and
trailmix8 wrote: I would say
Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.
OP here. Thank you all. This
Absolutely difficult to get.
We hire temps from temp
rothyman wrote: Once you work
design wrote: rothyman
design wrote: rothyman