Need Advice on What to do Next / My Future
Hey Everyone, long time reader first time poster.
Let me give you some back ground. I'm 23, graduated in June 2009 with a B,A, in Economics, 3.0 GPA, non target school.
Had an internship in Operations for 6 months, worked as trade support/assistant - great exposure to the financial world at first. On top of that I have also been trading on my own for 3 years, starting with stocks, and transfering over to futures, slowly im getting it however still not good enough to show off a track record.
Anyway about 6 months ago, I got a temp to perm offer at a major BB Ibank in NY in the AML/KYC department. I figured it would be a great way for me to boost up my resume ( for the name) and possible network my way within the bank itself to get into Trading ( my true passion) Yes I know my grades weren;t as perfect , i didnt go to a target school - but I was excited about the idea and possibilities of working with this firm. However, I am not sure if I want to continue working in AML/KYC since it isnt as exciting.. and quite boring. I love the markets, i sleep eat breathe the markets, I have dreams about the markets, i love trading.
I was wondering what should I do in the future to reach my goal...
Stay here longer til I hit perm ...and try to transfer/network within ? Work for 1/2 years then try to go to a different firm for entry level jr. trader role at a MM bank ?
Stop steps I have been doing are getting my Series 7/63 as well as Chartered Market Technician designation...
Any advice would be helpful thanks.. I dont want to waste time.
Maybe a MSF, do well on the GMAT and try and get into a top MSF program
Will I really benefit from a MSF to get into S & T ? How versatile is MBA vs MSF ? This is really a big commitment and a crapload of $$$ I will invest...how will it improve my ods vs other possibilities ?
If it makes any difference, i know a few people in the firm... I know a couple of guys in Operations , and 2 people in Risk and Financial Reporting.... both elementary school old friends
So you're basically 6 months into the job right? I would continue for maybe a year or two, because you are making money and you have the possibility to get closer to the action . Try to network from there, maybe go into Risk first and then take it from there. I think it will taks time to do the transition, but if it doesn't pan out you can still try to go for an MSF or something like that.
i think mba is a better bet here. msf isn't as recognized in finance and won't do that much good despite its heavy promotion on this board.
What does AML/KYC mean?
Global Anti Money Laundering / Know Your Client
Curious tho... how exactly will an MBA /MSF help me with trading / landing a trading gig ? What about going prop and aiming for good consistency/returns ?
I'd say an MSF is better than an MBA for a trading gig.
It helps you because it gives you something to put on your resume that is relevant and you can go through the OCR process which makes it much easier to find a job. Also, learning some finance isn't going to hurt.
Let's face it, companies are not desperate to hire a 3.0 GPA from a non-target without relevant experience as a trader, unless you can provide excellent PA track record.
First get three years experience. Then get Top 5 MBA. Then write your own paycheck for the rest of your career.
Have some patience. Too many people want to quit immediately b/c their job is "not their calling." Relax, you're just 23. Holding down a job, even if boring MO / BO, shows that you can hold a commitment and that (even if boring) you can handle the unpleasant aspects of a job. Believe me, this is not "wasting time." Just do well and use the free time to polish your grad school applications.
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