Hi All, 2 part-question... I live in NYC, and I'm looking to break into an entry-level Wall Street role that will allow me to transition to a Money Management Firm or Hedge Fund as a trader/analyst (NOT as a Quant, though). I currently have a BA in business economics, and a years-worth of work experience (in a business consulting capacity). I'm considering going back to school for a Masters degree (and perhaps a PHD), so that I'll be qualified to get a top tier trader/analyst job on Wall Street. (In the meanwhile, of course, I'll be looking for entry-level finance jobs with my BA degree). My questions to you all: 1. Given my goal, what should I get a Master's degree in? 2. What're the best types of entry-level positions that will allow me to transition into a role as a trader/analyst at a Money Management Firm or Hedge Fund? Thanks!, Chris in NYC
Depends on what type of trader you want to be. For quant trading or derivatives trading, I might recommend a master's in financial engineering. Otherwise, I'd consider a MBA at a top ten school. My advice would be as follows: 1--get the best job that you can and work hard at it and do well and show career progression; this will enable you to get into a top school for your graduate degree 2--in your spare time start learning markets, spend hundreds and maybe thousands of hours developing a trading strategy, and then start trading yourself--if you can build yourself a track record you will have a big edge up on your competition in school for one of those trading spots 3--depending on how long step 2 takes, or how comfortable and confident you are in trading markets, aim for either a trading job or an analyst role while in grad school; ideally if step 2 goes well for you, then aim for a trading job while in grad school
Upon graduating with Math and Computer Science degrees, will land u a job in the 1st and 2nd tiers after becoming a successful trader for 10 years in the house, u will able to start your own hedge funds, hft firms, etc or be able to trade on your own MBA will land u a sales job. cold calling, door to door finding clients. In other word, u will be working for a firm like Edward Jones going door to door or cold calling in a any hedge funds. Analysis are wannabe sales people thinking they are a trader. That is how they sell to people pretending to be a successful trader.
Your comments about the MBA are not true. You can work in prop trading for a bank. Banks have positions that they fill with fresh MBAs every year. You will have the chance to network and possibly gain one of those coveted trading spots. You could also work for a hedge fund. You do need a top ten MBA for trading. The other route is an investment analyst. All of the top firms fill some of these roles with fresh MBAs as well.
MBA degree <iframe width="560" height="315" src="http://www.youtube.com/embed/kyH9dsvb5UI" frameborder="0" allowfullscreen></iframe> There is nothing wrong being a financial advisor. They make good money if have people skilled and that is what MBA will teach u about.
You are just spinning nonsense and generalities with your chart and comments. There are very few sales jobs advertised for MBAs. MBAs tend to be more analyst types, and most MBAs didn't go to school to go into sales. What you say may apply to < top 50 MBA schools, but is incorrect for top ten schools. EMG is wrong, just flat wrong!
Some Current jobs from a top ten MBA job board. Don't these jobs look like sales jobs? I'm definitely sure they need powerpoint skills! 1) Fixed Income Analyst UBS AG 2) Market Risk Reporting Analyst Citigroup, Inc. 3) Preferred Stock Desk Analyst Oppenheimer & Co. Inc. 4) Junior Equity Portfolio Manager Role: Equity Derivatives Team Guggenheim Partners, LLC 5) Emerging Markets Debt Portfolio Analyst Wellington Management Company, LLP 6) High Frequency Algorithmic - Traders / Portfolio Managers / Strategists / Developers The Hagan-Ricci Group (HRG) 7) Senior Oil Products Trader Sahara Group Ltd 8) Global Markets Commodities Summer Associate Program Bank of America Merrill Lynch 9) Barclays Asia Pacific Summer Intern 2013 - Equity Research Barclays PLC
If you want to break in at a wall street firm , easiest way is to start as a Finance Business analyst contractor . There are plenty of roles available on dice. After contracting for couple of years and getting 3 or 4 brand names on your resume , you could try for the role you are looking for.