Finance Master wanting to get into pro trading

Discussion in 'Professional Trading' started by swetrader, Apr 14, 2009.

  1. swetrader


    Where do i look? Is there a 'normal' way of betting into the business? Is it all grades like in ibanking or are there other ways to get into the trade?

    Links and tips appreciated.
  2. sjfan


    What does "Is it all grades like in ibanking" mean?

    What finance masters program did you graduate from where you don't have any idea on where the jobs are (or are not, these days). Don't you have guidance from your program?

  3. swetrader


    My impression is that to get a job at an ibank, you have to have gone to a target school and have gotten very good grades.

    We have guidance yes, but there's no harm in asking around is there?
  4. you do not even need to grad from high sch to get into professional trading, only 5k.:D
  5. Getting into a trading program for a investment bank or any of largest financial institutions (hedge funds/mutual funds) is extremely competitive. Was your school in the top 15 in the nation? Was your GPA 3.4 or better? A MBA is also more cherished than a Masters in Finance.

    Do you have computer programming skills? Do you have quantitative finance knowledge?

    Understanding finance and the fundamentals of companies is just one factor in trading. I would read about traders online.

    Instead of pursuing investment banks, you can also try "prop firms". If you're a beginner, I would stay away from them though. Generally you need to put your own capital ($5,000+) and you essentially receive leverage... and you rarely ever get paid a salary (all performance based). Browse on ET or the net for more information about prop firms. If I were you, I would try the investment bigs or bigger institutions. Google "trader assistant" or "trading assistant". It's a hierarchy that you will have to move up before actually trading by yourself.
  6. swetrader


    So basically, my grade has no effect whatsoever on whether a company would hire me to train as a trader or not?
    Also, is this the usual way of going about in this business, putting up your own money and proving yourself before getting hired I mean?
  7. Look for prop firm in your area, put up 5k, put in the necessary screen time and learn how to profit from mkt fluctuations.
  8. sjfan


    Good god no. You will never touch institution money that way. (or, at least, the probability of that is TINY).
  9. the large financial institutions are letting people go left and right. Look at UBS - their 3rd major layoff??? The old rules of getting in are out the window.
  10. sjfan


    Who do you think the new guys are going to be. Who are they going to hire? "prop" and "day" traders who move a few k's of eminis around?

    IBanks are out. But that doesn't mean the next round of financiers are going to be less picky.

    #10     Apr 15, 2009