Serious question: I am a 32 year old female looking for a career change from real estate development in Manhattan. Over the weekend it was suggested I look into becoming a trader's assistant. I thought those positions were only for people fresh out of college. But I love finance and I would love to work on a trading floor, since I think it would keep me challenged. Thoughts? Insights? Really curious to see what those in the know have to say.
forgive us for not answering your question, because most of us have a day or night job stocking the shelves at Walmart, delivering pizzas for Pizza Hut, serving drinks at Applebee, flipping burgers at MacDonald's, etc. most of us saved a little hard-earned money and tried to strike it rich, many times. i said tried many times. we really have no idea of what a trading floor looks like. The only trading business we know is the online broker where we deposited our money many times. so sorry, we can't help you. yours truly, an Elite Trader.
femme - if you're serious, yes,you can get in eventually - but be prepared to do lots of grunt work. also, trading is still much a men's (boys?) club, but it's MUCH better than it used to be. try to get your foot in the door by working in middle office (or if the firm is small enough, you can get in back office and move up that way, but only at a place where backoffice/middle office isn't very clearly delineated). you likely can't get right in as an assistant, but if you have a skill set, get your foot in the door and show what you can do.
doublef is more right than he looks... surprisingly right. Bruce Covner used to drive a taxi I recall reading that in Market Wizards.... I run a drafting business that is struggling through this recession... with dreams of moving to trading full time... The only probably I see is that the successful trader mind, I hope, is not part of the herd mind. Wheras real estate might put you in that category... So be conscientiousness that someone will bring that up in an interview....
Hey all -- Thanks for these responses. All very helpful. I've also contacted a few traders through my alumni network, so we'll see what they say now that the markets have closed. Good tip about the herd mentality.