How to network with traders?

How do you network with traders, specifically ones at smaller prop trading firms? Are there like trading symposiums that you can go to? And what about for firms that don't recruit on your college campus? Is it just cold emails/cold calls, like it is with IB, or is there another element to it?

Also somewhat unrelated, but is it worthwhile to get into simulated stock trading? Just those little online simulators, no real money.

 

Try going to ST conventions and job fairs. Cold calling works as well, but you have to know the right times to call because you could get docked or hung up on if you call when they are busy.

Simulators are stupid and a waste of time as they are unlike the real trading experience and they build shitty habits, instead read books on what you would like to trade in the future (derivatives, fixed income, options, vanilla equities, etc.) and consider putting a small amount of real money into the market to trade off of just to get some practice and a feel for the markets. Make sure you put in only what you're willing to lose, because odds are you will lose most/all of it when you first start trading short term.

"Well, you know, I was a human being before I became a businessman." -- George Soros
 
monkeysama:
Yeah....don't really want to hang out at bars and strip clubs. The MTA thing might be cool.

Cheaper to go to bars though...by a long shot. MrFuture and I were just talking about this actually. The MTA event in NYC is 600 bucks if you aren't affiliated or already a member. Think long and hard about not wanting to have a few beers. Better yet, have a few bottles and get some enjoyment out of that 600 bones.

If I had asked people what they wanted, they would have said faster horses - Henry Ford
 

The Regional MTA seminars are free and a great networking opportunity. I met quite a few people at the ohio meeting. I'm heading to the charlotte and boston ones in 2011.

free membership for students also makes it nice

 
Best Response

The answer is actually kind of the opposite of what you're thinking based on what you're saying.

Less is more. As a trader, the one thing I can tell you that annoys me the most is having a discussion with someone who is forcing it. This guy doesn't expect you to know how to write mathematical models, develop a fully integrated algorithmic trading system, etc. so don't pretend like you know how to do any part of his job.

Ask him about his career. Where and how did he start. What would he do differently if he could go back. What would he do in your position. How can you best position yourself for an internship. Etc. Best of luck.

 
EnergyHOU:

The answer is actually kind of the opposite of what you're thinking based on what you're saying.

Less is more. As a trader, the one thing I can tell you that annoys me the most is having a discussion with someone who is forcing it. This guy doesn't expect you to know how to write mathematical models, develop a fully integrated algorithmic trading system, etc. so don't pretend like you know how to do any part of his job.

Ask him about his career. Where and how did he start. What would he do differently if he could go back. What would he do in your position. How can you best position yourself for an internship. Etc. Best of luck.

Ah, that's interesting. I have a basic math finance course done so would it be appropriate to talk about that as well?

Also based on your username are you an oil/natural gas trader? I'm interested in Vitol/Glencore/Trafigura -- can I PM you for more questions in that field?

 

Umm what exactly are you looking for from this guy (i.e. help with recruiting, general advice? --boys lay off the immature jokes please) / which year are you in?

And.. are you planning to take them out? I don't think a male trader will let you actually "take him out," since you're still in school and/or you're a female... (I'm female too.. I really tried to get the bill a couple times ..)

Re: "I don't want to be too personal or make it seem like a date" ..........................I don't know cocktail dress seems like a pretty big come-on

 

I am interested in him being a mentor type of figure... I want to work at his firm, but if that doesn't work out would like a big brother type to help me as I try to get into banking in general.

I'm a junior but since he doesn't go out for coffee/breakfast, I'm not really sure what other venues I can go to besides dinner or drinks.

 

I would contact him through his assistant, that way it kills any thoughts other than business. Try to get a dinner business meeting date, be straight forward. Tell him you are looking for some advice and would like to discuss it over scotch. shoot you are a girl... ok a martini....

As far as dressing up.... business attire (obvious)!!!!!! Business meeting= business suit...cocktail dress= somebody getting some. having said that.

Ask him whatever you want, compliment him on his success (that gets the big dogs to spill some industry secrets), be professional, think twice before saying something stupid and ask a lot of questions, if you want to work with him someday and actually land an offer you always want him looking back and remembering how professional and business oriented you were.

If he cancels on you last minute do not think he doesn't want to waste time with you. keep trying to reschedule. Perseverance pays off.

It took me 6 months to land a dinner with an MD at a BB after rescheduling about 7 times and he is a good friend of the family.

And please don't drop the "too bad we couldn't do drinks and dinner.....blah blah its that would just sound stupid to him put yourself on his level and think of something professional to say.

Remember you want to make an impression!

"The higher up the mountain, the more treacherous the path" -Frank Underwood
 

if you're a junior.. are you 21 yet? (I'm not doubting you-- but just in case you're not, asking for drinks is a very bad idea)

i'm not sure how helpful (i'm sure it will be helpful to an extent) it is to get you into banking if you're asking out a trader. very different roles, and bankers tend to have friends in banking, traders tend to have s&t people as contacts.. if you can informally network with someone in banking instead, that may be more helpful.

 
she_monkey:
so, LadyEva, what ended up happening?

hey - sorry I didn't know there were so many replies to this thread. But some weird stuff happened after wards which I probably should not say in an open forum.

 

I met a MD in trading in superday. He looks hot so i asked him out in the night. He's really happy with it so i called him in the night. He said yes first then called me back saying he cannot come. Because im a student and he found it not appropriate. Lol, that was a FAIL.

 
amande96:
I met a MD in trading in superday. He looks hot so i asked him out in the night. He's really happy with it so i called him in the night. He said yes first then called me back saying he cannot come. Because im a student and he found it not appropriate. Lol, that was a FAIL.

Ohhh. Superday. So what ended up happening with the offer?

Oh amande, you make this forum just that much more entertaining ;)

(The rest of you can explain why it still isn't okay to "don't care much" if you're married, even if you're a trader.)

 

lol. I asked him out becos 1 he's australian 2,he's a trader. he does hv the most stereotypical trader's personality.lol, u know what im saying... i think he's around 35, but he's really big/fit and i found him attractive. when i first asked him, he seemed to be really happy, and he was like..that will be really good...lol.

 

Deserunt quasi explicabo labore repudiandae. Aut aperiam provident aspernatur culpa nihil rem perferendis. Distinctio quaerat quia dolor maxime labore velit.

Nam enim quod sapiente nam consequuntur est. Voluptate est asperiores aut in perspiciatis quos. Reiciendis quis necessitatibus dolores.

 

Sit ipsam consequuntur et et. Quibusdam quas ut impedit quasi. Nihil laboriosam aut molestias aut dicta excepturi sed. Nihil cumque in voluptates. Enim beatae sed nulla nulla non nostrum sed.

A beatae dolore quos aut porro. Neque facere enim porro cumque dicta minus at. Perspiciatis qui deserunt inventore. Minus molestiae nemo rerum.

Dignissimos voluptatum rerum quia minima quasi qui laboriosam. Repudiandae id fuga accusantium ut sed.

Exercitationem non rerum veniam minima facilis ab. Quis sunt modi consequuntur explicabo. Et debitis occaecati ut mollitia consequuntur consequatur ea.

 

Id laudantium ut iusto qui quisquam neque. Molestiae velit id facere ab delectus. Ipsam consequatur et accusamus. Accusamus quaerat a facere maiores quia et nesciunt.

Praesentium minus autem tempora est sit voluptas. Animi eveniet et et quia. Architecto voluptatem quos accusantium placeat tenetur repudiandae.

Laboriosam labore amet libero atque. Incidunt commodi cupiditate labore ut dolorem. Voluptas mollitia ipsa ab in a. Sint veritatis libero consequatur eius occaecati et optio quo. Laboriosam repudiandae est qui voluptatem quisquam quia consequatur numquam.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
dosk17's picture
dosk17
98.9
6
DrApeman's picture
DrApeman
98.9
7
kanon's picture
kanon
98.9
8
CompBanker's picture
CompBanker
98.9
9
GameTheory's picture
GameTheory
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”