Moving up to a NYC BB
I am 27 and currently a VP of energy derivatives trading at a small (3+ billion market cap) midwest bank. My academic record was spotty, and not from a name school. However, through hard work and strong performance, I've been able to go from an unpaid internship to a $200k plus gig.
What I fear is that this gravy train will eventually dry up, and considering my group was essentially started from scratch when I joined in 2002, there has never been a formal training process. My education consisted of watching and learning from the senior traders and interacting/trading with OTC counterparties. Also, because of our niche, I have never had to obtain any sort of certification.
I am not looking to move, as long as this place keeps rocking, but I want to be prepared if situations change. Where should I start?
My company will pay for me to take the Series 3,7, and 63, which I will take them up on, assuming is carries value. Will this provide much of a leg up if I decide to move on?
Secondly, it seems that there is an incredible amount of value in becoming a CFA. Is this fair to say?
Thirdly, I have moderate Excel skills, but am thinking about learning VBA. Is this something that would add substantial value on a BB trading desk?
Finally, given the background that I have briefly outlined, what steps/certifications/training would any of you reccommend that would make my resume stand out to a NYC BB.
Thank you for any responses.
I'm hesitant to believe your profile. However, assuming you're being truthful it sounds like you basically got lucky at this gig.
If I were you, if your company will sponsor you for the basic securities licenses, I'd snatch the opportunity. Why not?
I don't know how much value a CFA will have in your business - i.e. energy derivatives trading.
Also, as a VP, what are your core responsibilities or job functions? I find it hard to believe you made it to a VP level at 27 without having had these securities licenses before... sounds odd.
VP is used very loosely at my company. It's more for compensation purposes. How I got there, the SVP of the group started it the month before I was hired as an intern right after graduation. Worked for free for six months before getting paid $20k/year for another year and a half.
Got engaged, left for 2 years, more than tripling my pay with a marketing firm. While at this marketing firm, I traveled the NE developing relationships with a specific energy consumer sector.
The bank's group grew by about 50% per year as they hired new traders and analysts. They needed another and I was hired back with a $100k+ guarantee.
From that point, two traders left to start a fund and we were back down to 2 again. Seeing that happen, the pressure was on to up my status and pay. We have since hired another trader and new analyst.
The different licenses are not required due to the way our business is set up. And, I'm not one of those guys that sits on this website, acting like I'm a big shot. Example, based on the screen names and comments, every person who comments here is from an Ivy and works for GS. If that is the case, how in the world does GS get anything done.
That is my background, and yes, I am beyond lucky. My wife and I seriously sit and thank God every day for the financial gift we have been given, which of course means we are obligated to share much of it.
My job consists primarily of executing trades/developing strategies with customers (sales) and assisting the senior guy with our own book.
Anyway, the jest of my question still remains. Would the skills outlined in my original post be necessary or beneficial to move into a large market bank.
I'll admit that I am very insecure about my academic record and lack of "structure training". Thanks again for any help you all can provide.
I will provide you with some high level advice.
First, if you're gonna trade elsewhere, get those licenses. (7, 24, 55, 63) As VP of energy E-Derivs at your firm, you should already have these.
Secondly, C++ and VBA, you should know these as well.
CFA - only if you're going into the Asset Management realm.
Good luck.
Thank you, exactly what I was looking for.
Like I said before, due to our trading activity and set up, we are not required to have the various licenses. However, I'm not a person who wants to do just the bare minimum.
"Brian is wearing 37 pieces of flare, and has a great smile"
lol. get a room, you two. flashes middle fingers
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