I wish to be a trader
Hello.
In short, I just joined Operations at a top IB, think Sachs or MS, in the UK. I am based on the trading floor in credit derivatives. Having only been there about 2 weeks I realised that I want to go in to trading. I am from a good university in the UK, think Cambridge or Imperial College, and I studied engineering. The reason I didn't apply to a trading position as a grad role was simply because I didn't thought I would get it - I wasn't from a finance background and my only intern experience was with an oil and gas major. However, I now think that I should have applied.
Realising my mistake, I was hoping that someone on here (or many of you on here) might offer some advice as to the best approach for me to get set in the world of trading. Should I stick in ops for a bit and try to move internally, possibly through networking, or apply for an trading analyst role starting next year at a less prestigious bank, or something else entirely? It is not that I dislike the people in Ops but the work seems dull and relatively unimportant (it is not unimportant, but it is called a support role for a reason).
Cheers in advance.
Dingo Man
You miss 100% of the shots you take. Get hungry, get agressive, and take no prisoners. If you're in the BB now, just start meeting as many people as possible in FO and stay really close to the ones you click with best.
LOL. Might wanna rephrase that first sentence pal.
Seriously though: you didn't apply to a job because you thought you might not get it?????????!!!
If you miss 100% of the shots you take, then you need a new hobby.
Network so you can make a move internally AND apply to positions at other banks. Prestige shouldn't matter to you. If you get in and do a good job you will make great money at any bank.
Your lack of common sense alone disqualifies you from most front office jobs.
Posts on these forums are like cryptic decision trees. "I graduated from a top college think HYP or Dartmouth and I got a job at a large public corporation think Exxon or J&J and now I networked to get an offer from a major IB think GS or MS or JP Morgan in one of their industry groups think Energy or Consumer Products in a large city think New York or Houston. My question is: How long will my hours be on January 17th 2014? Thanks!"
don't just wish make a move!
Be smart about it and don't alienate / piss off you boss and coworkers in ops, but start going for it. To start with, network with the traders. Make friends with them, especially the energy desk since you have at least some background there.
Get on the good side of the head of the desk and make a good impression, "think" knee pads "or" blowjobs. Sorry, had to get that out of my system, the think....or....was pretty annoying.
All joking aside, I know two guys who have successfully made it from MO/BO to trading. Don't know how they did it, but eventually the desk heads recruited them out of the back and into the front. One is very successful, he's one of the biggest players in my market. The other, worst trader the market has known for the past 5 years, a complete laughingstock - needless to say he's no longer employed as a trader nor ever will be (moved around and blew up every book possible).
Many of the traders at the prestigious banks (BAR, GS, JP, MS, etc.) that I deal with started out at smaller less reputable ones. With hard work the B traders eventually became A traders because the original A traders move on to something else, leaving the B traders qualified for the A role. As another person previously wrote, prestige shouldn't matter, because if you're good people will notice. The mkt is very small, so word travels very quickly.
OPS is not as glorious but nontheless essential. Most FO guys I know are very nice to their OPS - after all OPS are the ones that makes sure that your PnL realizes.
Not to be a stalker drifter, but I had to chime in.
OP ^^ what this man said...coming from a non-target like myself I always find myself talking to desk heads and MD's who all either came from Op's or a smaller firm. Not to mention there are ton's of junior traders/sales guess I talk to as well who came from Op's. Something they have in common? They all worked their butt's off and clicked with the desks.
Good luck man!
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