Don't know if this is the correct forum to post in, but anyways I'm going to give it a shot. There are many savvy people on this board who might have a good idea that could help me out. The short synopsis about me: I'm 26,m and in the process of relocating back to the US (US Greencard holder) after pursuing a MS degree at the European School of Finance in Germany. Furthermore, my progression towards a CFA designation demonstrates my aptitude in finance. However, it is not easy to network from outside the US, hence I'd like to ask you kindly if you have some hints/ideas how somebody from Europe albeit with a US Greencard can have a shot in finding a trading assistant/internship job in the US. How did you get where you are right now? I looked at monster.com, craigslist.com, contacted various companies/persons directly, but without success. Going to a prop shop is not in the cards, since I have 'the talent, but my pockets are empty' as M. Chagall said. So I'd rather get into an intern or a trainee, trading assistant, ... position that pays the bills for a while. Any help/inputs greatly appreciated. Thanks.
Being in the financial field is not a very desirable thing right now. There are huge numbers of unemployed experienced people, who will take the internship/traineed positiojn before you would ever get it. And in the future, algorithmic trading and automated systems are eventually going to turn you into a dinosaur.
Have you looked at adds in Chicago? I wouldn't waste your time with a CFA; no one really respects it in the trading side of the industry. I think that it is meant more for the broker side of the industry. I would recommend some modest C++/C# (or even MATLAB) programming experience/education in lieu of the CFA qualification; you'll go further.
If you're trying to get into trading, your educational background is mostly irrelevant. Obviously you need a B.A. at a minimum, but a Ivy league degree will only make you more competitve in selection for the interview process. If you want to trade at a investment bank or a quantitivate geared hedge fund, then you may need a MBA or masters in math/computer science/physics/etc. So just try to get your foot in the door so you can get a interview... It's mostly personality from there and whether you may be a good fit. Every firm selects differently. A Level I CFA is a plus (because you are knowledgable about the markets) but it is unneccesary in trading. Don't stress about education because academics cannot teach anyone how to trade. Otherwise economists with their brilliant thesis' would be millionaire traders instead of 125k a year professors. A lot of firms don't even take finance students because they fear the candidate will have a bias on the market. They prefer candidates that have a certain way of thinking (as judged in the interview). If I were you, I would find a list of smaller hedge funds and send them a cover letter and resume, asking if there are any trader clerk positions. You could also try prop firms in Chicago... some pay a tiny salary. Contact 50 firms and your bound to be accepted for a interview in one. It's a numbers game.
yes, i agree with the posts about the CFA that it does not add too much value to trading in general, but it gets your foot into the door (at least in germany and switzerland it is still appreciated). i sat for L2 this year. i have some programming experience (basics in MATLAB) but i am not the person, who can sit 12 hours a day in front of the computer writing codes (i can watch the market 12 hours though).