Comments (58)

Nov 30, 2006 - 7:49am

that could happen, but usually it goes the other way.

Dec 10, 2006 - 7:00pm

From banking to trading - Analyst at a mid-tier BB (Originally Posted: 01/16/2012)

I am an analyst in at a mid-tier BB product group in IBD. After two years of grinding, I am interested in moving to trading, especially commodities trading. I have been involved in several energy M&A and LBO transactions and think the commodities space is where I want to be in the future.

Want to hear if anyone / know anyone has successfully done it and what the process was like? Given the current state of market, would this be very difficult?

Any advice is much appreciated. Thanks a lot in advance.

Dec 10, 2006 - 7:02pm

i made the move from a DCM group to swaps trading, its possible. its difficult no doubt but its doable, you just have to be willing to start at the bottom of the pecking order again bc whatever you think you know about markets/products will prove to be much less than anyone on the desk already.

Dec 10, 2006 - 7:12pm

It happens, not really common but it is possible. I'd guess either you want to network a lot to make a transition, or you'd have to go back to school.

Jack: They’re all former investment bankers who were laid off from that economic crisis that Nancy Pelosi caused. They have zero real world skills, but God they work hard.
-30 Rock

Dec 10, 2006 - 7:15pm

From banking to trading - 3 years of banking (Originally Posted: 07/20/2006)

Does 3 years of banking experience help at all if I were to try to enter trading or a hedge fund? How much do the skill sets require overlap?

Dec 10, 2006 - 7:18pm

I've heard that, for math/eng. majors, trading jobs are easier to get, but of course they're harder to succeed in. If you can handle the hours, you can handle IB; whereas there are traders who lose money and end up getting fired.

Dec 10, 2006 - 7:25pm
jimbo, would you say this is fairly common?

no it's not common...b/c most ppl in banking aren't interested in trading particularly.

Dec 10, 2006 - 7:22pm

What would you say some of the potential obstacles are for such a move? Wont the interviewers wonder why you hadn't done the analyst program in the first place? Does any one have any suggestions to how one should go about making the switch. Realistically, you are probably a little over 1 year out of undergrad and apply for an MBA level position. Is firm standard recruiting better, or working with a head hunter?

Dec 10, 2006 - 7:23pm

it can be done as I just did it, a lot of places will look at you as a 3rd year analyst though. of course the questions are going to be why the switch from banking to S&T and if you dont have a good answer you dont have a shot at making the transition. I didnt find headhunters very helpful in my search but that could be bc I didnt meet the right one, firm lateral recruiters were much more helpful imo.

Dec 10, 2006 - 7:26pm

From IB to trading (Originally Posted: 04/30/2007)

Can you make the move from IB or Capital markets to trading. Or is it a different skill set. I know one guy who was in M&A then moved into equity prop desk and they wanted an individual who could deveelop models and value companies. If you are in DCM or ECM can it also merit such a move.

Dec 10, 2006 - 7:27pm

at top 3 bb who went from lev fin to hy trading

those make sense bc lev fin ppl generally understand high yield products fairly well

i also know an m&A bankers who moved to a stat arbitrage desk

there are many ways in which valuation can help you succeed in trading, generally have to find a desk where it makes sense

  • 1
Dec 10, 2006 - 7:29pm

how to go from banking-->trading? (Originally Posted: 07/08/2010)

Hey guys,

I'll try to keep this as brief and anonymous as possible. Here's my background

4.0 Philosophy major
small D1 sport (think volleyball, swimming, etc) captain

significant coursework: Calc 1-3, linear alg., ODE's, game theory, business class, intermediate micro

I'm interning at a BB doing banking this summer but don't like it and want to do trading FT.

I've been bored with banking and it shows. My mid-summer reviews were fine, but far from glowing. I'm trying to get a FT banking offer so I can interview with the trading guys but want to plan as if I'm not getting an offer and don't have this opportunity.

Here are my questions:

1) I have access to a lot of traders right now and can network/talk to them if I want. How should I use this to increase my chances of trading FT?

2) How can I get interviews in August before I go back to school? Doing normal recruiting will be difficult/nearly impossible during my senior fall.

3) How difficult do you anticipate this being?

4) Advice on how to go about deciding which product I'd like to trade / more about the industry?

Thanks for all the help,

Dec 10, 2006 - 7:30pm

1) Networking never hurts. It's good to spend time (although i don't know how much you have) to meet with traders, talk to them, and hopefully get in contact with their HR or something to get an interview

2) Generally if you want to switch departments they will have accelerated interviews (if you get one from the aforementioned networking)

3) Depends on how well you network, but i would assume it won't be too hard. If you want interviews from other firms, then that is a different story.

4) Meet with the desks and sit with them to see if it's something you're interested in. Also read up on the different products and see if you're interested / understand what drives hte market

Dec 10, 2006 - 7:31pm

IBD to Trading (Originally Posted: 10/31/2007)

Just wondering if its possible to, after your analyst stint in the corporate finance side of investment banking, to swith into the trading side? I know they're not directly related, but if you can't get into trading out of college and you can get into IBD, would your first years there be a good stepping stone to trading?

Dec 10, 2006 - 7:35pm

I've met some people who have made the switch from Asset Management/IBD into Structuring (which at some banks is part of "sale & trading")

As a side note if you are getting IBD offers but not trading offers it might be that you are you are a better fit for IBD. Trust recruiters they are more than likely on point (its thier job to place people in the right spots). If your heart is set on trading work at being a top performing and I am sure you'll have an opportunity to make the switch after two years.

Dec 10, 2006 - 7:36pm

Moving to Trading from IB (Originally Posted: 04/20/2011)

I am potentially interested in making the transition. Have any other monkeys does so? How hard is it actually? Do any of you know places that may be hiring, or have a tendency to take ex IBD guys.?

Dec 10, 2006 - 7:37pm

Curious as well...

Super Nintendo, Sega Genesis - when I was dead broke man I couldn't picture this
Dec 10, 2006 - 7:39pm

I asked some Canadian S&T MDs this question a while back. They looked at me like I was high on crack. While it may be a national thing for them, the rivalries in finance can start to look like the interservice rivalries in the military.

"Dude, not trying to be a dick here, but your shop looks like a frontrunner for the cover of Better Boilerrooms & Chophouses or Bucketshop Quarterly." -Uncle Eddie
Dec 10, 2006 - 7:41pm

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Dec 10, 2006 - 7:42pm

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