Graduate Career Advice Needed

[Hedonism]

I am a masters student at the European Business School, London, studying for an MSc in ‘Global Banking & Finance’ which I will be completing in March 2009. Prior to this I completed a BSc in ‘International Securities, Investment & Banking’ at the ICMA Centre, Reading University. These courses have allowed me to gain a strong understanding of both the theoretical and practical functions of the credit, equities and derivatives markets at an academic level.

I have always been interested in propietary trading (momentum/day/position) in equities. I did some self funded courses in technical analysis (at the traders university) 2 years ago and have been an active trader since then. I also have an investment portfolio I started in my 1st year at university. I would say I have a strong understanding in both fields of trading and investing.

The problem is I attained a 2.2 in my undergraduate degree (I was in a very rocky situation just before and during the exam period) which greatly affected my perforamance in several of the last exams though I had solid marks in my previous coursework and I have shown great strenghth in my MSc so far.

Is there any advice you can give me into strengthening (or beefing up) my CV to make it more attractive when applying for trading jobs. I understand that my 2.2 is going to hold me back a lot but I am determined.

I am currently looking at joining the STA (society of technical analysts) and completing their diploma program and also obtaining the SII Diploma in Investment Compliance (exempt from the module 1) in the next year.


I did an internship in my second year in finance and accounting (and credit control). Even though I enjoyed the first few weeks of this it wasn't demanding enough and became tedious and repetative. I believe a more fast-paced environment is suited for me.

Any comments and suggestions would be helpful.
Thanks.

 

[CHRISTO9HER]

I am a masters student at the European Business School, London, studying for an MSc in ‘Global Banking & Finance’ which I will be completing in March 2009. Prior to this I completed a BSc in ‘International Securities, Investment & Banking’ at the ICMA Centre, Reading University. These courses have allowed me to gain a strong understanding of both the theoretical and practical functions of the credit, equities and derivatives markets at an academic level.

I have always been interested in propietary trading (momentum/day/position) in equities. I did some self funded courses in technical analysis (at the traders university) 2 years ago and have been an active trader since then. I also have an investment portfolio I started in my 1st year at university. I would say I have a strong understanding in both fields of trading and investing.

The problem is I attained a 2.2 in my undergraduate degree (I was in a very rocky situation just before and during the exam period) which greatly affected my perforamance in several of the last exams though I had solid marks in my previous coursework and I have shown great strenghth in my MSc so far.

Is there any advice you can give me into strengthening (or beefing up) my CV to make it more attractive when applying for trading jobs. I understand that my 2.2 is going to hold me back a lot but I am determined.

I am currently looking at joining the STA (society of technical analysts) and completing their diploma program and also obtaining the SII Diploma in Investment Compliance (exempt from the module 1) in the next year.


I did an internship in my second year in finance and accounting (and credit control). Even though I enjoyed the first few weeks of this it wasn't demanding enough and became tedious and repetative. I believe a more fast-paced environment is suited for me.

Any comments and suggestions would be helpful.
Thanks.

Prop trading isn't an easy thing to get into (at least not using someone elses money). You have a couple of options, either to try to get into an investment bank or to try to get into a prop trading firm. If you go for the IB route as a trader, you will not start off as a prop trader and it will probably be a while before your role has a significant prop element. If you try to get into a prop shop, you will have prop exposure from the word go.

The dilemma is that if you get into an IB then you have a safer career path, a good salary and bonus. If you get into a prop shop then you will not make a good salary, but if you are profitable then you will do well. It is much less safe than an IB though in that they are pretty ruthless with cutting you off if they dont think that you have the potential.

TBH, your 2.2 may stop you getting into an IB, and they probably dont care what your reasons are for missing the 2.1. Thats just the way it is.

If you are determined to be a prop trader, apply for prop shops, but make sure you know your stuff first.

 

[pitchinvasion]

I'd concur with the above post in that IBs aren't really looking past a 1st let alone a 2.1, but should you complete your Masters you should have more than enough to get into most prop firms, and while it's cut throat, you can potential earn a lot of money in a relatively short timescale if you 're any good.
Even still, with a Masters, and your STA qualification, should you take it, you might be able to get into an IB through recruitment agencies.

Nevertheless, if you get in a prop firm, show 3-4 years of solid profits, you will be able to have your pick of either

Good luck with whatever you do

 

[RogueTrader888888]

I have always been interested in propietary trading (momentum/day/position) in equities. I did some self funded courses in technical analysis (at the traders university) 2 years ago and have been an active trader since then. I also have an investment portfolio I started in my 1st year at university. I would say I have a strong understanding in both fields of trading and investing.

You have no chance in IB with a 2.2. End of that. However....

If you get in contact with a prop firm and show them your PnL from the past 2 years then it may be sufficient to convince them to take you on, at least for the short term. If you have your own capital, like 10k or so, they will be able to match that in order to give your account some more leverage and give you a better chance to suceed.

Anyway, apply to all the graduate schemes that are available. Do the silly numeracy tests and hopefully you will be able to do well in the interviews and get the position.

 

[fifty2aces]

You have no chance in IB with a 2.2. End of that. However....

Actually Goldman will consider people with 2:2s, but then they're the most competitive to get into, so you'll need to be pretty special. I spoke to a guy at a Goldman career event, who said that one of the guys he worked with had a 2:2, but had also participated in the Olympics...

Overall though, a 2:2 will pretty much stop you getting into an IB - it might be worth applying, but be warned that some of them screen applications by computer to bin all the ones which don't have at least a 2:1.

 

[niraj shah]

it does not matter whether you get 1st,2.1,2.2, because the stuff you learn in school is diferrent from work. Its all about being able to handle pressure and meet targets. Trust me i am a survivor only because I love pressure and angry managers.

 

[BJ21]

If you apply to a Prop shop bear in mind that it will take time to become profitable if you are any good, so you need to make sure that you are in a position to take 'almost' no salary for a period of 6-12 months.

You seem like you are at a good business school doing your masters, if you are they will have good links into the City, so your chances of getting into a IB are OK (maybe not Trading) .....a good place to start is product control (given your internship).

 

[thegreatdebate]

it does not matter whether you get 1st,2.1,2.2, because the stuff you learn in school is diferrent from work. Its all about being able to handle pressure and meet targets. Trust me i am a survivor only because I love pressure and angry managers.

err well it does matter in so far as u wont even get a interview in the first place..duh!

of course a 2.2 person "could" be better than 2.1 but theres nothing to suggest they will and in general a 2.1 student will have put more effort and enthusiasm into their course..fact.