How Do You Know What's Right For You?
I've read every damn article/post on banking/trading and talked with several people in both industries. I understand that they're both completely different skill sets, but how can you determine what you want to do without ever actually working in either fields?
I always thought I wanted to do banking until I sat down with a family friend who's a banker turned MD derivative trader and after chatting for a few hours and looking at my resume said I seemed more trader material. He really got me thinking, and I've got an offer that explodes on Monday trading FX at a strong regional bank (interviewed for capital markets and was placed in FX?)... So, it seems like the decision I make for this summer is going to determine my career track and I'm more confused than ever. How did you know what was right for you without ever working in said field?
-Wanted to do IB -Got an offer in trading FX, explodes in 2 days -Go to non-target and don't know if I can get BB IB or S&T -IB or S&T, so confused...
Part of it should come through through normal conversations. Do you like talking about he markets, making decisions with incomplete data or do you like/can tolerate working on word documents, excel model, and powerpoint slides for 100 Wks for 2 years. Part of it should come through based on your own experiences, the rest is decided later on in life. Don't think of this as a dead end, but one of many paths. You might end up enjoying it and make it a career or you may end up going back to business school to get into banking/something else. All I can say is that you had a chance to speak with a person who was a banker AND a trader.......I am sure speaking with him must of given you valuable insight into what the job is like for both and why he changed to trading?
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You're right, you can only do so much research before doing the job itself and finding out. If the job seems interesting, it's a solid bank, and good people, you can't go wrong. Network while on the job so you know people both in trading and IBD.
If this is for SA or FT out of UG, you certainly won't pigeonhole yourself. Don't worry about being on a traditional track, you can always move around like your MD friend did.
I'm a talkative guy and have had summer jobs in sales, so I've gotten the same feedback that I would be better in S&T. However, I will be going into IBD next summer for FT and I'm not looking back. I know myself better than any interviewer who scans my resume and talks to me for 30 min. Your MD friend is just one person with an opinion. It may be a very good opinion, but you need to figure it out for yourself.
Also, it's tough to let a job-offer explode these days.
Thanks all for the input.
It is really hard to turn down a job offer right now, especially for a non-target student...
I'm really hung up on the fact that I got placed into a trading role even though it was lowest on my preference list and that the MD thought that after only two hours of conversation. It's also really interesting that the majority of BB CEO's come from a trading background. The MD's advice to me was to take the offer at the regional bank, bust my ass so I can have people to vouch for me and he can potentially put me in front of the right people at BB's next year for FT. So, I'm really thinking hard about this... Is it difficult to switch desks?
Does my resume scream trader to you guys?
http://www.razume.com/documents/17669
Obviously take it if you have nothing else. Worst (or best) case scenario is renegging later. Never turn down an offer if you have nothing else atm.
thanks,
what are the possible ramifications of renegging? Blacklisted at said firm or would there be implications outside of that firm?
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