Is trading a dead end job??? PhD or no?
does trading career goes from a little trader-->trader-->bigger trader with high chance of failure in between while some move onto VC,PE,HF,Business School???
I'm a Sophomore in target school and deciding whether I should try for trading positions (the work interests me) or continue with my education (MS and/or PHD in stat,op. research, or CS).
What are things that going into trader positions (or even IB) that would not be available for me getting a PHD other than a late start?
if i want to eventually end up in non-business positions(government, academia), is finance even recommended? How's World Bank, IMF, etc. careerwise?
A lot of guys in risk have PhD's in quantitative fields. Risks Managers are often Math or Physics PhD's because of how quantitative the job is. If you have an interest in finance and math, then a PhD would be useful. Not too many banking MD's walk around with PhD's though. Would be a waste for that. If you want to end up as a banker, then work after you get your undergrad degree and go back for a Master's after a couple years. If you want a finance degree and like stats and CS and such, you could look at a MS in Finance rather than an MBA. It is finance degree that is entirely applied mathematics. That sounds like it could be for you!
Just my input... Hope this helps.
I think that a lot of people working in the industry are trying to figure out the very question you're asking...and I DON'T think you're going to find very man old millionaires here to give you verifications (although I'm sure there are plenty of fired traders who will tell you there's no surviving in the business).
I'm young too so I don't know much, but I think the reality that a lot of us are banking on, is one good year can basically bank your career. That is the real reason so many people are taking all the stress / et al bad things that come w/ trying to make a living trading: to acheive financial independence that can set them up for the rest of their lives.
And yes, plenty have done it before, though many don't. And you don't need a PhD or even masters to do it (although it's helping more & more these days).
The real question to ask is what do you want to do...what will make you happy. If you are excited about maybe doing some grad school...then do it. If you are ready to be done and want to get some real work experience, then do that instead.
There's not one right answer for any of the questions you're asking. People have succeeded and failed in all different manners you speak of.
What are some exit opps for traders?
Thanks for your inputs. I guess people look for different things and have varying experiences. looking at wiki entries of md's, ceo's, government officials in financial system, it seems many started off as a IB. Is this rarer for those starting as traders??
If making big bucks is not my priority, should I ever go into trading?
if you have to ask then honestly its not for you
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