WTF do trading interns actually do?
Question is straightforward. Was talking with a buddy who’s interning as a trader and he just shadows people every day? You don’t actually do anything? Any other data points? Seems ludicrously boring.
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I am interning at a major for crude trading. I built a dashboard with r to compare different global s&d models, then made a deck and wrote a memo analyzing the different models overtime - basically backtesting their accuracy. Honestly it was just basic data analysis and I wish I was exposed to more trading.
Same. I used python to backtest.
Also mapped historical future prices to see if the marker was pricing in dividend tax or not. They weren't, allowing my desk to save a couple mil per year. They had the hypothesis, and I found whether it was true or not.
How much do ppl in your group make? Do you know
highly variable based on position and experience. i'd estimate 85-350k and a small bonus. these are career analysts, aren't looking to be traders. wlb is great, gotta be up early for meetings w/ ppl in europe/asia, but you will never actually WORK more than 10 hours a day, need to be around computer around 12hrs a day for FT positions but head down, working averages 8 hours a day. weekend work extremely rare, maybe light analysis. as for traders, maybe 85k base but its all PnL. know a natural gas trader who hit 50mm bonus last year with freeze in texas
It's a FINRA / regulatory thing - not allowed to trade without having all of the licenses, so hard to give them any actual work... typically interns get a lot of backend work / mock projects to keep you busy / shadowing.
An unfortunate consequence of regulatory stuff, although understandable as BBs wouldn't want interns doing actual trades
Interesting. Thanks for the insight.
They’re a bit like expensive, in-house Uber Eats that you don’t need to tip.
Well what does a banking intern do? Cause all my friends in banking say they have to retrain everyone once they start FT.
What does a hedge fund intern do?
What does the summer kid at google do?
If you think a trading intern’s job is more boring than a banking summer analyst…
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