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SPOTLIGHT: Trader's Train Rules and FAQs

The goal of Wall Street Oasis’ Trader's Train is to give our users the best possible snapshot of life in sales & trading, from internships and recruiting to compensation and career progression. Working towards that goal, we’ve created a Frequently Asked Questions page for Wall Street in general, as well as a page for the Best Discussions from each industry.

To familiarize yourself with Wall Street, check out our Frequently Asked Questions page, or navigate using one of the links below:

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Choosing between 3 desks for BB S&T SA

I am currently in the process of being placed to a S&T desk at JPM for the summer. I am torn between FX (spot+options), Commodities (crude derivatives), and EM (LatAm). The people in each are great and I know it would be hard to go wrong with any desk. How would others think about this and make the decision?

Thanks in advance.

Excel HELP prep for Summer Internship

Hi all,

Was wondering if any one could point me in the right direction for help and guidance in advance of a summer internship in S&T. Anything from pretty basic stuff to VBA is what I am after.

Many Thanks.

MO role + masters in computer science -- make the jump to trading/trading assistant?

I wanted to get some thoughts on getting a masters in computer science to try to make the jump into trading. currently work in middle office at a big investment manager. applied to various programs and got accepted. Could continue to work up and get masters at night.

Was wondering how much weight a Masters in Computer Science at a pretty well known engineering school would add to the resume? at least open doors for interviews?

2014 Stub Bonus

Any word on what the Stub was for BB 2014 in S&T for 1st year analysts?

trading house


US vs. UK vs. Asia - starting out in S&T

Hi everybody,

in another thread I asked about some opinions towards two graduate programs in which I got admitted, LSE MFin & CMU MSCF, which would ideally set me up for BB S&T, where CMU would be good for US (NY) and Asia (HK/SGP), and LSE for UK(LDN).

But what I would like to get your view on here is: If you were to start your career in S&T today (or in 1-2 years) and you had free geographical choice, where would you start out?

Things to consider are probably:
- regulation
- business volume
- pay
- exit opps to buyside (ideally credit- or macro-related fund)

Most futures pits scheduled to close in Chicago by end of the summer

From NYT:

Most of the futures pits inside the Chicago Board of Trade building, an Art Deco tower that looms over downtown’s LaSalle Street, are scheduled to close by July after being choked by a decade of technological advancement that has made face-to-face trading largely obsolete.

It is often debated on this board whether the advancement of electronic trading will cripple the trading industry or make it better. Electronic trading makes trading complex products a lot easier, but also reduces the amount of traders needed. With a computer, you can trade in large blocks, which opens the door for more opportunities. Most trading is already done through the use of algos anyway.

While the pit is not a barometer for the entire trading industry, the days of the pit depicted in the movies seem to be over. I'm not one to comment much on the trading industry, but this seems like a big moment in signaling the future of the industry (please someone correct me if I'm wrong). I would love to hear from current/former traders, particularly anyone that has had experience in the pit. Is the closing of these venues a signal, or just noise?