Trading still a good career?
I am an undergraduate junior. I had an investment banking internship last summer, and am still really not convinced one on direction in finance, though I do know that finance is what I am good at.
My only problem is that I really am not interested in what IB is, and am not 100% set on any of the designated exit opps either. I really am interested in what trading is, though. I am also interested in consulting and the career and what that has to offer.
My question is:
- Is trading still a job/career that can lead to good exit opportunities, career transitions, if necessary?
- Is it still a career that can lead to people making lots of money?
Any other comments would be helpful and much appreciated.
OP continued at bottom
Sales and Trading vs Investment Banking vs Consulting?
There are lots of considerations that go into choosing a career path. Fit, skills, interests, salary, bonus, professional growth, exit opps, etc. As a college student, it can be hard to decide because what you know about different careers comes from what you read on forums and, maybe, internships.
For example, a common refrain about trading is that it's a dying industry, everything is going the way of automation, there's no opportunity left. Parts of these statements are correct, but the reality is a little less extreme. A few of WSO's seasoned hedge fund and trading professionals shared their insights on OP's dilemma.
From Certified Hedge Fund Professional – Quant @jargon223"
Trading can still be ok, and there are still "exit opportunities" regardless of what people say - although they may not be as broad or in all the areas you would like to have. I guess it all depends on where you want to "exit" to.
If you like trading more than anything else then do it. But if you have an interest in IB/consulting/whatever, maybe it's worth it to give all those a good look, too. The "no, do this" or "yes, do that" answer you're looking for is hard to give.
From Certified Sales and Trading Professional @Working9-5"
Exit opps are what you make them. Take a field trip and try experience a day with Cantor Fitzgerald and any other BB (this is equities.) You'll experience a ton more and see how different culture could be a deciding factor.
From Certified Sales and Trading Professional @derivstrading"
I would never do a job for its exit opps. I would do a job because I liked doing that job and wanted to get better and progress in it. People in IB only focus on exit opps because IBD is such absolute sh1t. You go into trading because you want to be better at trading.
- Trader's Job Security and Long-term Career Path
- Is it Worth Pursuing a Career in Trading in 2017?
- Picking the Right Trading Jungle
- Exit Opps for Commodity Trading (Oil/Gas/Power)
- Exit Opps from Top Prop Firms/Market Makers
Continuation of OP:
I have spoken to a lot of people in the industry, and when talking in terms of exit opportunities, IB is the clear winner, with trading not really being a good stepping stone to any careers I'm interested in, sorry if I have offended any execution traders out there ;).
I would be a sell out if I just chose the IB path because that's the safest in terms of guaranteed jobs and money, to a degree, of course.