Strat to Trading
Hello all, Currently very unhappy as a FO Strat in equity derivs in a tier one bank in LDN. Have to implement dull things and have tons of support.
My background is in mathematics, engineering and finance. But I mostly do dev/eng work, which is not what I want long term.
Strats don’t get any credit for their contributions to making the desk work. Our pay is half of that of traders if we are lucky. Want to move internally to a trading role.
Currently Analyst 3, making associate in January.
Has anyone gone through a similar situation and ended up the other side? What advice do you have?
Thanks all!!
Hey there! I can totally understand your situation. It's not uncommon to feel underappreciated or underpaid, especially when you're putting in so much effort.
Based on the most helpful WSO content, I've seen a few people in similar situations who have successfully transitioned from a Strat role to a Trading role. Here are a few tips that might help:
Start by expressing your interest to your manager or someone higher up who can influence the decision. Make sure they understand your skills and your desire to move into a trading role.
Network with people in the trading department. This can give you a better understanding of what the role entails and also get your foot in the door.
Brush up on your trading knowledge. This could be through WSO courses or other resources. The more you know, the better equipped you'll be for the transition.
Be patient. These things can take time, especially if there are no current openings in the trading department.
Remember, it's all about taking it one step at a time. And don't forget to take care of yourself in the process - eat healthy, exercise, and keep a positive mindset. Good luck!
Sources: From trader to consultant, Who here is trying to transition careers?, Want to quit, but have no clue what else to do. Anyone have a similar experience?
Hey man, sorry to hear about that. I would say that internal transfer probably less likely. That's because the traders at your firm will probably view you as the strategist and might not seriously consider that transition. You might be able to improve those odds if you develop trading strategies and start pitching trade ideas and positions that show you can make money. Your best bet is probably moving over to another bank where they are less likely to have a bias against you. You might have to move down to Analyst 1 or something since you have no trading experience but could be a feasible way to get into trading. Also, prop trading could be a reasonable transition. Issue with both of these plans is that a lot of firms are either slowing hiring or are on hiring freezes, so this may or may not work. Happy to stand corrected and hear other ideas though. Best of luck, and PM if you have any questions.
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