I have an interesting background...does anyone have advice for a wannabe trader?
I hope I don't sound too desperate but I really want this to happen and would love any and all feedback.
Basically, I graduated a year ago from a BIG10 school with an environmental science degree, and why I have chosen to not pursue a job connected with my major is a long and irrelevant story. I've been diligently researching positions as a trader assistant/desk clerk at prop trading firms in Chicago and I am certain that I have the quantitative and analytical ability to learn and become a successful trader. That said, I am hesitant to apply to any of the open positions without some advice from those who have been in my shoes at some time so I don't waste applications with my inexperience. I have a couple questions, so before I ask those a little background: I have a 3.6 GPA; no connections in any prop trading firms in Chicago; I have a decent amount of knowledge of financial markets from mere interest and self teaching but perhaps not enough to be impressive; beginners knowledge of java, again from self teaching and nowhere near proficient.
I hope my background didn't scare anyone off but here are my questions!
1.) Where should I even start? In an attempt to network should I cold-call? Cold-email?
2.) In my cover letters, should I convince the HR person/hiring manager about my drive for the position more than my less-than-ideal qualifications? Or should I focus on technical aspects of my past (undergrad research positions and associated skill sets)? A healthy combination maybe?
3.) How did you break into prop trading?
Any advice from any of you on this situation would be greatly appreciated. I hope I don't seem too crazy, but I'm going in full throttle with this desire and would like to be as prepared as possible. I tried looking around WSO for specific answers to my questions as to not be repetitive, but I didn't really see anything.
Thanks ahead of time!
Big 10 school and no alumni that are counterparties of some of the Chicago props?
What about your background was so interesting that made it particularly necessary to mention in the subject line?
Do you have exceptionally high test scores? Did you ace your undergraduate math classes (if you took any)? Do you trade your own personal account? Are you a stud poker player? Do you know the Hull text cover to cover? Honestly with your background try to get a Mfin or some other degree that actually indicates you're interested because anyone can say 'I really want to be a trader'.
In terms of your research experience, maybe if you did forecasting for weather patterns or something some ag desk might want to use you as an econometrician but even that is a slim chance unless you have experience with legit models and real (non-cleaned) data.
Connections typically aren't that much of a factor from my experience. I had none, and most of the people I know that ended up going in didn't have any either. I never emailed or networked before I landed interviews, and I imagine that for the most part it won't be too helpful unless you go to a target school for trading.
For some reason everyone comes on here saying how they are incredibly passionate about becoming a trader or investment banker, yet they don't even take the time to learn about the field, read the recommended books, etc. Also I should also mention that if you want a spot at a top firm, recruiting is in the fall for full time positions, so thats probably your best bet with timing.
Hi, I have a similar case. I just graduated from a non-target school, finance and accounting major, and also have retail banking experience, which is not good for investment banking. I have always wanted to get into investment banking but couldn't afford to go to good school full-time. So I had to get a job and study part-time. Now I have my degree and want to try to get into investment banking. I have been following the markets and trading my personal account for the past three years.
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