Seeking career advice
Hi everyone,
I am at a point in my life where I need some direction and asking the community for their feedback. I am 33 and have been an equities trader with a few prop firms in NY for the past seven years and have also put in a few years as an equity analyst and consultant. I only graduated from a community college with an associates degree.
My passion has always been in trading/investment banking and wanted to know at age 33 with my background what position/field would you recommend I pursue to get my foot in the door at a real bank?
Just looking to get honest opinions as I feel lost at my age not knowing if i would have a chance anywhere in investment banking or trading with a bank. Even if i had to start at the ground floor i am all for it. I am totally open to go either route and with your help it could provide me with a clear path where I would potentially have a chance. I appreciate anyone's feedback, it's tough out there. thank you. Dean.
Although you have expertise in trading, I wouldn't recommend pursuing that path. Banks are laying off traders and closing desks everyday. You could go to a top HF perhaps, but I'm sure you need an incredible track record for that. However, your maturity and expertise may be very valuable if you were extended an analyst position at a bank or a liability if your age/family life may hold you back from pulling off back to back to back all-nighters. I'm really curious to see what everyone else has to say.
I agree. Banks are laying off traders and the only traders making it are the high-frequency super quants which I am not. I would be thrilled with an analyst position at a bank, with my trading background do you think banks/recruiters would be hesitant? (putting in the insane hours/all-nighters is totally fine).
Personally, I think if you market yourself well you can shoot for a corporate strategy position. My thinking is that if you have a quantitative mind, and an eye for undervalued assets you can use that to your advantage. My other suggestion would be to look at a position with an energy company that does hedging etc. I know you mentioned you traded equities, but perhaps you can swing risk management skills on this one. You definitely are in a unique situation, but definitely NOT hopeless. It also goes without saying you should be networking a lot though. Good luck!
Try to reaching out to your network. Talk to people, use LinkedIn.
I think it will be quite difficult to land a job in IB with a bank. Although they are cutting the trading desks, it's more weighted towards fixed income, IIRC. I believe the equities units performed quite well (some up every day or down just a few days in Q1).
If you insist on IB, I would focus on trying to network and get in with the guys at ECM desks (since you have a sound understanding of that market). You need to target entering as an associate. They aren't going to hire a 33 y.o. analyst.
I very much appreciate the feedback. From reading the above comments it sounds like the following paths could be an option.
A ) Analyst (but which kind? IB? ECM?) I am a little new to this world so analyst is very broad for me. B ) Fixed Income (would you say try to get picked up as an Analyst?) C ) IB - Equity Capital Markets (try entering as an Associate?)
We are making progress, there are genuine people on this site.
Thanks, Dean
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