Exit Ops for a Trading Assistant from India
Hi Guys,
I am a computer engineer from a prestigious engineering institute from Mumbai, India.
I am really interested in investment management especially equities. My long term goal is to work for a hedge fund or wealth management company in the equity research department. But, since I am a computer engineer it is not very easy for me to obtain a job in Finance.
But, somehow through networking I have managed to receive a job offer from Credit Suisse as a Trading Assistant. Basically, it involves live support to a trader based in New York. The job description includes reporting to the trader daily trades, helping him out with anything he needs etc.
Now I know that this is a MO/BO operations job so I want to be very careful before I jump into it. And that is why I need advice from you guys.
My intended career trajectory path is to try to get into a MS Finance (or maybe MBA) program at MIT Sloan (after getting a recommendation letter from the trader I will be working for).
Currently, I have admits for MS Finance at University of Rochester Simon and Krannert Purdue University. So, these are my current choices. I had decided against going to the above universities because they are not the best business schools and work opportunities for immigrants are not very good in the US right now. But, now I am not so sure.
Please let me know what you guys think. What would be the best way for an engineer like me to break into a FO job at a hedge fund or BB.
Any help will be appreciated.
Thanks in advance.
I'm not in equity trading but I do work in money management.
I do not mean to be harsh or racist or anything like that, just giving my tips:
FIRST: Be likeable/personable if you aren't already. Nobody likes a nerd. Be a guy who he would like to sit next to. SECOND: Communicate efficiently. Only communicate when needed. Tone down your accent (learn it by talking to yourself).
THIRD: Don't ask stupid questions. FOURTH: Watch American sports. Always a good topic for shooting the shit.
All in, I reckon this is not a very a good spot to make an easy move to NYC and start trading or even making best buddies with the trader. Chances are the trader will take you just as a "support guy" and won't even remember your name.
Thanks for the tips.
Realistically, I don't stand a chance to make a move directly to NYC nor get well acquainted with the trader. I think I should have been more specific with my question.
I have 3 options right now: 1. Trading Assistant at Credit Suisse (Mumbai). I intend to work for a year and then try next year for a MS Finance at a better university. 2. MS Finance at Rochester Simon 3. MS Finance at Purdue Krannert
Queries are: 1. Will working as a TA in Mumbai add value to my resume from a B-Schools Perspective? 2. Out of the 3 options I have what do you guys think will be the best option for me given my goals?
Thanks in advance.
-Parth
Sorry Parth. I guess I didn't fully read your topic.
I can't give you any real insight on the issue since I am not in US and didn't even go to bschool. I do know that those schools do not ring a bell for me.
However, If we were hiring I bet we would look favorably "direct experience" over unknown bschool MSc. Coding experience is always good. You can learn finance on the job too (in London for example it's quite common to hire chemistry/politics/other random major bsc grads to work on trading floors).
Have you considered London at all by the way? Bschools are cheaper at least, can't compare otherwise.
Thanks for your reply.
Yep, B-schools are cheaper in Europe. But, with the current state of the European economy, I am averse to coming to London.
I know a few people who went to schools as prestigious as Oxford and still had to return to their home countries for job opportunities.
IMHO it does not make sense to spend in pounds for my education if I am not going to earn in pounds.
I think what you are saying makes sense though. Rather than going to xyz B-school it may be a better option to gain work ex.
Do you know what's worse than being a trading assistant? Being a trading assistant in India.
That said, I think your best shot is to work for CS for 2-3 years and try to get into a solid business school...a school that people actually heard of, none of that Peruvian School of Management in Kansas shit or whatever you listed.
Also if CS is anything like my BB(i was a TA here for a year before moving on), you boys in India very rarely, if ever, actually deal with the actual traders (aside from a routine weekly email/report or something like that). You might just be the support to the support that's in NY...aka doing NY trading assistants shit work which makes it shit work^2 or some kind of equation that I don't even know.
@Flake Peruvian School of Mgmt LOL. Actually I thought Purdue and Rochester are well reputed schools. I mean they are in the top 50 ranked b-schools. I reached MIT Interview stage this time but unfortunately couldnt make it past that.
That being said, if I do take up the job I think I will be getting to deal with real traders because my job is New York hours but you're right I should find out more.
Saying your school is in the top 50 is like saying you're in the top 7 billion of best looking people.
Graduating from a top 50 b-school will land you a nice trading assistant job. Oh wait...
Also, so you know who else works NY hours? The NY trading assistants who you are likely to deal with 99% of your time.
We have two offshore "Equity research associates" in India. My senior analyst doesn't talk to them. I don't think he knows their names. They just do whatever mundane shit I don't wanna do as it gets passed down to them. They're both CFAs by the way.
I don't mean to shit on your parade but given what I witnessed, you shouldn't get your hopes up for being intimate with your traders. Just grind it out for a few years and shoot for that MBA. Or marry rich or something...idk.
That being said I asked my friend and he said I will be working with 2 different trading desks so yes, the work may not be high end.
Considering the options I have right now (as mentioned above) my best bet seems to be this job though. So I am going to pan it out for a year and try for a masters in finance in a school like MIT or Princeton. If that doesn't work out I'm prolly gonna scrap the whole plan and just go for a world tour or something. Ill be saving a hell load of money anyway.
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