hi all, i'm a computer science senior in college. I'm very interested in trading and plan on pursuing a future, but unfortunately I have little experience. Does anyone have any advice about how I can get in on it? any tips about how I can demonstrate that I am capable (other than learning the finance theories)? Has anyone taken a similar path? Thanks.
A Dashing Blade
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Grad programs for an IB are very very tough to get into (you're competing against a global cohort these days)
A possible route would be to get in as a "desk developer" for a trading desk (ie someone who sits on/near a desk and program small bespoke one off apps -typically in Excel- for them). You'll pick up more about the business in a year than you would in 5 years in a "normal" investment bank IT role.
I've seen more than a couple of these guys move onto the trading side in my time
A possible route would be to get in as a "desk developer" for a trading desk (ie someone who sits on/near a desk and program small bespoke one off apps -typically in Excel- for them). You'll pick up more about the business in a year than you would in 5 years in a "normal" investment bank IT role.
I've seen more than a couple of these guys move onto the trading side in my time
I agree with the above 2 posts. Make sure any role you apply for sits within front office though and preferably on the desk. With the way IBs are going trading is getting more complex and so the ability to get a role means you need good Excel skills. If you have this then they can help you develop the trading side and being a quant will do that.
Alternatively there are the trading arcades but they won't pay you a salary and can be seen as Cowboy outfits.
Verno
Alternatively there are the trading arcades but they won't pay you a salary and can be seen as Cowboy outfits.
Verno
A Dashing Blade
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Ahh, interesting post from GammaJammer above demonstrating peoples perceptions about this type of role!
My thoughts on the role (1985 - 94 derivatives broker/analyst/trader, 1994-5 MSc in IT, 1995 to date, desk developer)
The role is
1) Common sense (if you don't know then say so, don't bulls**t etc)
2) 30% business knowledge (how are bonds/options priced etc)
3) 30% IT knowledge (programming + appreciation of the bigger IT picture)
4) 30% getting on with people . . . a) traders b) network/support c) IT programmers
Get interviewed by the business & they're looking for 1 and 3a
Get interviewed by IT & they're looking for 1 and 2
Given that you're a competant programmer and have a broad business knowledge (an atm option has a delta of 50%, price of a bond goes up so yield goes down etc)
actual role imho is all about 1) & 4).
My thoughts on the role (1985 - 94 derivatives broker/analyst/trader, 1994-5 MSc in IT, 1995 to date, desk developer)
The role is
1) Common sense (if you don't know then say so, don't bulls**t etc)
2) 30% business knowledge (how are bonds/options priced etc)
3) 30% IT knowledge (programming + appreciation of the bigger IT picture)
4) 30% getting on with people . . . a) traders b) network/support c) IT programmers
Get interviewed by the business & they're looking for 1 and 3a
Get interviewed by IT & they're looking for 1 and 2
Given that you're a competant programmer and have a broad business knowledge (an atm option has a delta of 50%, price of a bond goes up so yield goes down etc)
actual role imho is all about 1) & 4).
