About to graduate, what should I do?

Discussion in 'Trading' started by Amatrue, Apr 25, 2021.

  1. tsznecki

    tsznecki

    Your heart is in the right place but you are showing your age and/or ignorance. That link you posted here:

    https://www.elitetrader.com/et/posts/5373162

    Only one of those certs are relevant and it's no substitute from real world experience. Taking a MS course does not mean you have production ready skills @Amatrue
     
    #51     Apr 26, 2021
  2. At Barclays, DB, MS, JPM, GS and quite a number others in London, Tokyo, HK, Singapore, new grads end at trading desks about 3 months into the job. Not that they take on trading positions but they start to be exposed to risk very early on. Not sure of NYC but I can't imagine it would be much different. Being Analyst is a title it does not mean they sit in some corner and analyze data. The new grad classroom training is about 3 months or shorter and then analysts are placed at trading desks.

     
    #52     Apr 26, 2021
  3. 3 months yes that is EXACTLY what happens. If you suggest that the puppies from UPenn need a year soft touch and hand holding before they are placed at a trading desk in the US then that speaks to the preparedness of grads from US universities. I can assure you that today new grads in Europe and Asia end up at swaps, equity options, structured products, and other desks around 3 months after their classroom training.

     
    #53     Apr 26, 2021
    globalarbtrader likes this.
  4. Thank you, someone with real world experience. Happened to me exactly the same. Was flown to London and NYC for 10 weeks of classroom training and then I started pricing interest rate derivatives at the options desk right after. Will never forget how the senior trader colluded with the sales guy and while the senior trader was out for lunch I got a call at the desk and the sales guy couple desks away pretended to be a customer and asked me to price a swaption of insane notional. I tried to reach my boss but he did not answer the phone (surprise) I really freaked out and widened the spread as he was asking for a two-way and I had no idea where he was leaning. He pretended to be pissed off because of the spread and I sweated like a pig just hoping he would not take the trade because at that time I had no idea whether the position suited the book of the desk and because I would have had to definitely split up pricing requests with inter dealer brokers for swaps to hedge. Suddenly a loud laughter broke out a few desks away and I figured out what was going on. Pigs. But it was a great time, a few months into the job and I was making markets and calibrated the vol surfaces and cubes for the desk. Sabr was all the rage back then. I hear placing new grads at desks early on still happens today.

     
    #54     Apr 26, 2021
  5. JSOP

    JSOP

    And very boring too. This is why all of us hang out here so much. :)
     
    #55     Apr 26, 2021
    DiceAreCast likes this.
  6. JSOP

    JSOP

    This is why we need more hands-on internship/co-op programs in universities for them to learn and to see how they apply in real-world work environments. And when they graduate, they can hit the ground running instead of still having to make all the necessary adjustments.
     
    Last edited: Apr 26, 2021
    #56     Apr 26, 2021
    DiceAreCast likes this.
  7. I was also on a trading desk (also swaptions, and exotics) after a 3 month analyst training programme. I was actually *on* the desk before then, but I wasn't allowed to actually trade until the programme was up and I'd passed my FSA exams.

    It's not easy to get an IB front office trading position straight out of college / university (there were only two slots the year I did it - the other guy worked on the cash swaps desk and is now in jail). And the OP has almost no chance with this route. But it does happen.

    GAT
     
    #57     Apr 27, 2021
    taowave and DiceAreCast like this.
  8. easymon1

    easymon1

    Did this have to do with Libor?
     
    #58     Apr 27, 2021
  9. Euribor

    GAT
     
    #59     Apr 27, 2021
  10. easymon1

    easymon1

    delete pxcm.jpg
     
    #60     Apr 27, 2021