Back office Operations to a Trading Desk?
Hello all,
Recently, I have taken a role in a MM bank in operations. I have spent the first year of my career through 2 brokerage firms, a shit one and a BB one; since I lacked fundamental technical skills, I thought it would be a good idea to take this role. My plan and honestly dream is to end up on a trading desk. The bank here has a very small trading floor with each group consisting of about 3-6 people. Now the only good news that may come from this story, is that I have a connection within the equities group, he is the MD of the group. I have met with him last Friday, which was the end of my first week here. He basically said that junior guys don’t really get hired but every 3-6 months, a junior guy will come along as a trading assistant. Since I have only been here for a week, he really could not help much but I was glad to be able to make the introduction. He as well stated that he would be on the look out if any spots open within any group, even within his own group. My question to all of you is, how should I leverage this connection to lateral over to a trading desk? I don’t want to get pigeonholed into operations but I also know that I need to pay my dues for at least 6 months-1 year. As well, I don’t want to bother him as well with recurring questions of a spot being open on the desk. Please let me know what you guys think I should do to increase my chances of landing a spot on the desk. Thank you all in advance.
Hey Watch The Short, sorry about the delay, but are any of these useful:
No promises, but thought I'd mention a few relevant users that work in the industry: Eienstien @hatrick81" @gsears34"
I hope those threads give you a bit more insight.
Thank you so much for all of this, I highly appreciate it. I will do some more research on it!
If I were in your situation, I would spend as much time as possible on reading up on the equity markets, equities products, trading strategies, etc. If you do enough research, questions will come up automatically.
Then stay in touch with the MD so that you can inquire and even discuss anything regarding equities with him! If he's too busy maybe you could ask for an introduction to or contact a more junior trader yourself. After a few months of this kind of networking, I'd say you have maximized your chances of landing the trading role.
Good luck!
Thank you! The day that I was able to visit the trading floor, I met with a junior trader that is about 4 years older than me, he ran me down on how he was able to get a seat on the desk so I am hoping to be able to ask him some more questions about the desk.
Depending on what type of guy he is, you should keep in touch with him every 1-3 months. After your 2nd or 3rd meeting, assuming it goes well, ask if he can introduce you to other guys on the desk. You should repeat the same process with them - getting coffee, lunch, whatever.
Be familiar with what's going on in equity markets. Don't try to talk about stuff you don't know, but ask whomever you're with intelligent questions that show you're hungry and willing to learn. If this MD is connecting you with other groups (credit, fx, etc.) try to also be familiar with what's going on in those markets.
The idea is that when a junior spot does open in 3-6 months, everyone's mind immediately jumps to you and you get the role.
Appreciate the insight and advice, thank you very much. I will use definitely use this approach as well; I hope to be able to come back with a success story.
It doesn't hurt to try : ), try reading past postings for this trading assistant to see what they are looking for
That’s a very good idea, thank you for suggesting it!
Lateraling from Energy Operations to Trading - Possible? (Originally Posted: 04/27/2017)
Hey all,
I'm trying to change career paths within the same industry (relatively), and debating whether or not graduate school (MBA or MSF) is the way to go. My background is in energy, power specifically with some exposure to natural gas, working real-time market ops at an ISO with 5+ years experience as a scheduler and dispatcher. I'm hoping a graduate degree will give me credibility, knowledge, skills, and network to lateral into a merchant trading or PE position that has better long-term career prospects. I've currently beefed up my programming and data analysis skills (python, pandas, some vba), in hopes that it would be transferable into one of these fields.
Is this a realistic goal? Or am I aiming way too high with my aspirations? Any feedback would be greatly appreciated.
Bump...
You try posting this in the Business School forum, I am in a similar situation and curious to see what some have to say.
From Non-target Back Office to Director of Trading (Originally Posted: 09/15/2011)
Mr Adoboli was hired by UBS after studying at the University of Nottingham, where he worked as communications officer from 2000 to 2001. He currently works as the director on the little-known "Delta One" derivatives desk , responsible for making markets in exchange-traded funds (ETFs), instruments which have already drawn criticism from regulators.
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