I talked to a recruiter at UBS today because I had questions about opportunities at the trading desks for experienced hires (i've been working for about 5 years). In a nutshell, she said that S&T at BB are only hiring students through campus recruiting and some senior traders who have a proven track record of success. She said that with everything becoming automated, the need for these traders just isn't there and that most of them aren't making money. She told me to reconsider my career choice.
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Cool story Hansel.
Nice to get an honest answer from someone for a change.
I'm confused. The need for what traders isn't there? A particular type of trader?
Why on earth would you listen to a HR chick.
first of all, what the fuck is she talking about. women rarely know wtf they are talking about especially in trading... sorry thats true...even though i know some really good ones
cars are getting automated too, you dont see us taking our hands off the wheel do you?
Uhm...do you want to be a stock broker?
Also, if she's UBS HR ask her why they suck so hard, is it that she sucks at recruiting?
Hmmm - why listen to her? Maybe because she is in RECRUITING, and can obviously see how their demand for traders is changing.
For equity and spot fx traders - this is already happening. But for other products that are mostly OTC - it remains to be seen.
OK. No way I'm gonna reveal her name, but her official title is "global recruiter." She basically said that there aren't any seats at BB trading desks except for very experienced traders/salespeople with proven track records. And the market for traders has been shrinking steadily due to automation. She told me that there are a lot of traders out there who aren't making any money and that I should reconsider my career choice.
Even if trading is becoming more automated, someone has to write the code. It's not like the BB's are creating sentient robots to do the work. While how trading happens may change over time, traders will always be in demand
maybe ubs sucks but that doesn't apply to everyone else
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