Working in the city

[JTrader]

I'm just wondering how an individual would go about getting a job in the city as a trader or market maker?

What qualifications and/or experience would be needed?

What is a typical starting salary and what could this rise to?

Just curious, any info greatfully received.

 

[stevet]

for real trading opportunites you do not need any experience or qualifications - and better that you have never traded - so your head is not full of nonsense such as RSI and bollinger bands etc etc - youth is a real help - but market making is a bit tougher though - find a prop shop and convince them that one day you will make them a fortune - dont worry about start up salaries or potential - if they train you up - the training is worth a mint - and the potential is up you - and worry more about your split of profits than anything else

at one time a lot of liffe pit guys ( who were the ones who started up prop companies in the UK) were ex-taxi drivers - so i guess if you have passed the Knowledge - that could come in handy!

if you want to work for a big investment bank with a nice fat salary - you will need a bunch of qualifications - but those guys dont do real trading - you'll learn different skills which are only of use for investment banks etc

 

[money123]

i wouldnt mind getting trained as a trader and getting a job in the city, that would be like a dream come true
i always thought you needed at least a degree.
anyone now of any companies training new recruits......
im 23

 

[warm_machine]

You need a good degree and preferably a masters...something to make u stand out as there is lots of competition for grad places...be prepared for up to 5 interviews per application...personally, at the end of the day, I don't think it's worth it...I would rather trade at my leisure than for example be blamed for a trade that went pear-shaped even when u were dead set against it but were forced to accommodate the trade because your boss told u to - the same boss then washes his hands of it and it goes on your record...u need to be prepared for a lot of $*** and I would suggest having a strong personality is just as important as any ability u might show if u want to make a success of it and work your way up

 

[dax]

Do you want to be a trader or a Japanese-style salaryman? Forget about commuting, office politics, lads, poledancing clubs, useless qualifications, begging for a salary, etc., etc.

Just do it.

Success at trading is a journey to find a trading method that fits your personality and risk profile. Do that and you can set your own "salary" and answer to no one.

 

[James500]

jamest
From my past experience:
I applied for several equities/forex trading jobs at some of the big name banks 3 or 4 years ago as a graduate. The recruitment process was fairly intense and virtually everyone I was up against had a minimum of masters in something highly numerate and several people I talked to had Phd’s in astrophysics! Clever people but not much fun down the pub.
I was by far the most junior having not yet graduated and without any corporate work experience (although as already said, they tended to prefer those without prior trading experience). Not surprisingly I did not get the job and ended up doing accountancy before having a crack at trading from home as I am now. Probably for the best as I am not good at being told what to do.
From what I hear (through friend of a friend type chat) there are still opportunities out there for inexperienced, unqualified people, so long as you can demonstrate a passion for trading and desire to learn, but as to how you find these jobs I have no idea. maybe I should find out, better to loose someone else's money than my own!

 

[dolton]

My god - London what a dreadful place......I spent eight years working in/near the city.....Let me see now how does it go "I would sooner be cast naked into a VAT of boiling oil than go anywhere near the City"

South Devon.....Ah!