How to get a Clerk Job anywhere

Discussion in 'Professional Trading' started by sledged, Jan 23, 2006.

  1. sledged


    I am a recent college grad interested in getting a clerk position on any of the exchanges NYMEX. NYBOT, NYSE, etc, or even a clerk position in any kind of trading floor. I know that this is a great way to learn the markets and is much better to me than sitting in the avg. corporate setting. Can someone help me get started in ways to find a position like this. I am willing to lower my salary requirements if it will help me get my foot in the door and learn a lot. Thanks in advance.
  2. A couple of things (I am a member of a few exchanges), first of all, you won't start off as a clerk (you don't have the background to understand what is going on), most likely you would start off as a runner, one that literally fetches coffee and notes for the senior tranders. Second of all, runners are paid horribly, you are looking at 20-30k. Third of all, due to electronic trading, the number of floor traders have dropped significantly from the high in the late 90s, even the couple of NYSE floor traders I know are wondering what they are going to do next. I am an exchange member, but the last time I went to the floor was almost 7-8 months ago now.

    So, in comparison, if you can get a job as a corporate finance analyst or the like on Wall Street, it is a better route than becoming a floor runner (and then becoming a clerk), you would make much more money, and has a much more certain future.
  3. timmyz


    lol sledged way back when i was still in college i actually wanted to do the same thing. i didn't even live in new york at the time and i went all the way down to the NYSE to ask for an application to be a runner! i didn't even know anybody there. lol makes me laugh to think about it now.

    i just went straight to the front door and told the security guy i wanted to go in so i can get an application to be a runner. then he said something to me which i won't forget but i won't repeat it here. he did let me in though and told me where to go. i remember i went to this office inside which must have been the HR department. i got the application, filled it out, and turned it in, and left. never heard from them. lol!
  4. sledged


    yea, i mean an analyst position at a big I-bank would be great but i didnt go ivy league which stacks the odds against me getting that. I have a 3.7 from a top 20 ranked, big 10 business school with dbl major in Finance and Real Estate. I really want to work in the trading environment. Im looking for any ideas that can put me in the trading environment. Eventually it will be but right now pay is not important but learning more about something that i am really interested is what im going for. Anybody out there with any ideas I appreciate it.
  5. Hit the street and network your ass off meeting every single person you can that will listen to you and your dream to work in the markets. Cold call people (chief dealers, chief traders, etc) and ask them if you can apply for their trainee program. Are you trading now and what is your track record? A good one helps prove your aptitude. Believe in yourself and overcome any obstacles that you seem to have about your inferior education. The school you attended doesn't matter in becoming a trader--it only sets you further back because you can't tap into the alum networks. So make your own future instead.
  6. Dont be afraid of the ivy league competition. I know for a fact all good banks/brokers look for over achievers from everywhere. Just figure out what you owant and do not stop trying.
  7. It's tough to give you specific advice because everyone's situation is different, but whatever you do - take calculated risks now, while you're young and don't have much to lose.... btw, I'm 25.

    Consider working for a REPUTABLE Prop firm. Even if you bust out, which is what I did when I first began - fresh out of college, you'll gain great experience and are unlikely to repeat the same mistakes at your second trading job.

    If you want to trade for a living, then the last thing you should do is become an analyst. You'll hate it - the only exception being to save money to put into a trading firm.

    Take calculated risk and treat everything as a learning experience. Also, realize that trading is 99% pyschological and that being a clerk only going to get you 10% of the way there (the mechanics of trading) and will not help you at all in learning to control your emotions. Only failure will teach you that. So, don't be afraid to jump in before you have a wife and kids to support.
    -- They suck, but they put up all the money - so get out there and blow out your first account on someone else's dime!

    Best of luck.
  8. couple of firms here in midtown have good things.. there's even a couple positions available here.. PM me.
  9. get a real job, ie cop, firefighter, nurse, doctor, etc.
    be a productive member of society.
    it is much easier for a camel to go thr an eye of a needle than it is for a rich homo sapien to go to heaven.
  10. dac8555


    although i agree with the concept of taking risks while you can...

    Reputable and Prop firm are not in the same sentance on wall street.

    I think going on the floor would teach you more and expose you to directly connected people who you could walk up to and introduce yourself.

    prop firms dont give you any experince to go on to anything else. if you do this, you wipe it off your resume if you dont make it. say you took a sabtycal or went on vacation or something during this time. prop firm is an instant resume killer i am afriad. it is more of a hobby than a career...most individuals pay to do this, they dont get paid.

    go to work with a large national or regional firm in some capacity, and try to learn from within the company while gaining experience.
    #10     Jan 23, 2006