Which one would be better to start a career in ? Both positions offered at a brokerage firm.
Execution traders are someone who are just "filling paper".The FSA registered "senior" brokers talk to the clients and then shout orders to the guys on the screens (execution trader).The job is to fill orders with no discretion of yours. I am being more inclined towards CRM. Plz Advise.
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Ok...Here is a twist in the tale...I have been interning at this firm,an inter-dealer broker (MF Global/Newedge) and have been networking my ass off,meeting different people and learning about different areas.I met a person today who said that if I want to enter investment banking in future ,then I should consider the corporate finance division of the firm.Now this division isnt anything like the corpfin of KPMG or any big 4 transaction advisory ,its only dealing with the financials of the firm ,something like corporate development ,though I am not sure. So now I have three choices: 1.execution trader 2.credit risk 3.corporate finance division people at the firm have been very helpful and I have been networking my ass off.I might just land the gig I want ,only that I want to make sure what is best for me. So guys plz advise..
Execution trader is OUT. It is the same type of job as someone telling you that they would like to have a double latte extra shot hold the foam. Would you like to be a barista your whole life??? You could learn how to make those leaf or heart designs on the foam. Don't laugh but that is what your life will be reduced to as you search the internet looking for new foam designs.
Do you need to stay at this firm? What would be your ultimate job goal? Where would you like to be in 2 years? I think that these are more important questions to ask yourself than going around hobnobbing. Might as well get what you want vs wasting 2 years in a dept that you have no idea what you will be doing.
Thanks CLGCTrader!! I agree with whatever you say..I do not want to be a barista my whole life..the problem with me is that I am in international student and currently have only this firm as my option..despite pursuing masters in finance I am not getting much opportunities..I came to the states with high finance dreams as most people on board..still havent lost that..therefore I want to make sure that I choose the best of whatever opportunities I got. I am definitely not going to take the execution role.But as of now I have to choose something.. Therefore I am thoroughly confused..Ultimate goal is to enter IB which is so difficult to get into..but i have to keep trying
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I agree with CLGCT
Why the "." comment?
ignore that..by mistake Anyways..looking for more replies guys..
Also depends on what you want outside of work. If work/life is important execution trader is not a bad option. Most guys I know leave the office @ 6, they have no positions to worry about and are able to enjoy life outside of work. If IBD is your thing, then don't do Finance at the IDB, it'll just lead you to a dead end back office job if you make it to the BB. Transition from IDB to IBD is very hard as the businesses are very different.
Just a suggestion, not that I am encouraging it but if you visa is the issue then take the execution job and use the extra time to study for the CFA then after obtaining level 1 try for IBD. By then you'll have working experience, a network, some money and best of all a visa. Nothing is every vanilla, you can always make it a bit more exo.
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