Looking for some good advice
Hi all. First let me start off by saying I post on this site under a different name, but it would be fairly easy for anyone to know where I currently work, and I want to play it safe. I'd really appreciate some good advice.
Basically I want to get into trading at a sell side Investment Bank. My current position is within a team originating and structuring something called "catastrophe bonds" and "insurance linked securities", which are basically a way for insurance companies to transfer their risk to the capital market. We compete with Goldman, BNP and Deutsche in this market. Its a growing market which is around 13 billion in issuance currently. I've been at this position since I graduated in may 2009, and am in the company's graduate program.
I want to trade more than anything right now. For me working in an office and not having adrenaline rush through your veins at all times is just boring. I want to be in an ultra fast paced environment where every ten minutes I have to make rapid decisions. Currently I make more than most analysts at I Banks (over 6 figures my first year) and have saved up a good amount of money. To pass the time I find myself more interested in the markets than anything else. I trade for myself in stocks most days, using technical and fundamental analysis. My uncle is a chartist, and I've tried to learn as much as possible from him.
My plan is this: apply to a S&T analyst position at all the banks, hope that I can talk to someone in trading, and start over as an analyst in the 2011 class. I have worked connections at many different banks, and a former very senior partner at UBS has told me that "I should pay for the training I would get in the program". I really do believe her, and so I really want to apply for a S&T analyst position.
My questions are:
1.What do you think of this?
Do most banks accept people who aren't in college for S&T analyst programs?
Is there something else I should do?
Thanks very much for your time.
Consider applying for MFE or MFin programs, S&T programs tend to recruit out of those
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