Feeling unqualified for new job

Feeling unqualified before starting a new role is more common than you think, especially in high-pressure industries like trading. Based on the most helpful WSO content, here’s what you need to know:

1. Expectations for New Grads/New Hires

• Initial Expectations Are Manageable: As a new hire, especially in trading, you’re not expected to be a superstar from day one. Your primary responsibility is to absorb information, learn the desk’s processes, and execute low-stakes tasks with precision. As one WSO contributor noted, heads of trading or risk want to see that you can "devour and produce high-quality, low-stakes work" before entrusting you with more responsibility.
• Progression Takes Time: Even high performers often take longer than expected to gain significant responsibilities. It’s normal to feel like you’re months away from being ready, even if you’re doing well.

2. How to Be the Best Junior You Can Be

• Be a Sponge: Absorb everything you’re taught. Review your notes daily and ensure you can answer questions on topics you’ve learned. As one WSO thread emphasized, you need to pick up information quickly and demonstrate retention.
• Stay Humble: Confidence is important, but arrogance can be detrimental. Always approach tasks and feedback with humility.
• Be Proactive: If you’re unsure about your technical skills, focus on brushing up on coding, econometrics, and any relevant quantitative skills. Familiarity with tools like Bloomberg, Excel, and order management systems can also be helpful.
• Ask Questions Thoughtfully: Don’t be afraid to ask questions, but make sure they’re well-thought-out. This shows you’re engaged and eager to learn.
• Handle Mistakes Gracefully: Mistakes are inevitable, especially early on. The key is to learn from them and not let them affect your confidence. As one junior trader shared, dealing with mistakes mentally is crucial to avoid compounding errors.

3. Is It Common to Feel This Way?

• Yes, It’s Normal: Impostor syndrome is incredibly common, especially in competitive fields. Many successful professionals have felt the same way at the start of their careers. The fact that you’re worried shows that you care about doing well, which is a good sign.
• Trust the Hiring Process: Remember, the firm hired you for a reason. Even if the interview process felt "soft," they saw potential in you. They’re investing in your growth, not expecting perfection from day one.

4. Unspoken Rules in the Industry

• Build Relationships: Networking within your firm is key. Get to know as many people as possible, especially senior team members, as they can be valuable mentors.
• Be Reliable: Always deliver on what you promise, even for small tasks. Reliability builds trust.
• Stay Calm Under Pressure: Trading can be intense, but maintaining composure is critical. If you make a mistake, own it, fix it, and move on.

Final Thoughts

Feeling unqualified is part of the journey, but it’s important to focus on what you can control: your work ethic, willingness to learn, and attitude. Prepare as much as you can before starting, but don’t overthink it. Once you’re on the desk, take it one day at a time, and remember that growth is a process. You’ve got this!

Sources: Do's and Dont's as a Trading Intern, Sucking as a junior trader, What to expect from a prop trading job?, Advice I give to my incoming analysts, Best Practices for Junior Bankers - Top 10 Things to Do