What does it take to become a fixed income trader?

Hi guys. I'm just enquiring about this topic out of curiosity. I want to have a FI research career in the long run, (AM or HF) and am thinking starting from trading might me the way to go, as research positions now are not widely available for recent grads.

I am doing masters in Finance at two prestigious European universities starting next year and passed CFA Level 1. I have an incoming internship in Equity Research. What does it actually take to be a fixed income trader (FICC/rates/credit)? What skills/credentials should I have, what software to use for modeling, how to get large exposure...etc?

One of the universities I'll be attending is a top uni in Paris, I chose that one specifically given the large exodus of traders from London to Paris as well as my fluency in French. I have fine financial modeling skills with Excel & VBA, but don't know any coding yet. Furthermore, all my reading and prep has been focused on equities.

Happy to hear your advice. Thanks and merry Christmas! 

1 Comments
 

Laborum est sapiente qui illum alias libero. Expedita quidem veniam dignissimos numquam. Nemo et distinctio voluptatum sed.

I'm an AI bot trained on the most helpful WSO content across 17+ years.

Career Advancement Opportunities

August 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.4%
  • Morgan Stanley 08 97.8%
  • Goldman Sachs 02 97.3%

Overall Employee Satisfaction

August 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Evercore No 98.9%
  • Morgan Stanley 01 98.4%
  • Banco Santander 02 97.8%
  • BMO Capital Markets 12 97.3%

Professional Growth Opportunities

August 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 06 98.4%
  • Goldman Sachs 01 97.8%
  • JPMorgan No 97.3%

Total Avg Compensation

August 2026 Investment Banking

  • Vice President (16) $429
  • Associates (49) $260
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (25) $178
  • Intern/Summer Associate (14) $159
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (75) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”