I have some licenses, but I'm not much at sales, so my Broker licenses got me no where at the wirehouse, and couldn't bring in the capital. Same with my commodity license too. Currently I work at an insurance/annuity back office behind a desk all day. It pays the bills, but doesn't build my 401k fast, nor buy the toys. I live a couple hours from Chicago and am enticed by the idea of working for a firm as a C++/java programmer as the $100k-$130k annual income is twice what I make now. Not ready for a prop firm, as I don't want to blow $25k+ of my own money thru the learning curve. ($250k+ income sounds good too, but that probly takes a special breed) I'm in my 30's and 1 more year of school (spring 2009), and I'll have C++/Java under my belt, but won't have the 2-3 years of programming experience most firms are looking for. My question: My goal is to get back into the investment/trading field (away from insurance), and bump my income up to $100k. Will my investment/market knowledge combined with my programming be sufficient to hire on to work along side traders as a C++ programmer? Appreciate quality/helpful replies.
Ever taught about getting an MFE? Masters in Financial Engineering it basically preps you to be a Quant/Developer you will be able to walk into a financial/developer role for no less than 120k atleast in NYC/Chicago/Boston the course is pretty rigorous but well worth it especially if you like programming.
Thnx for input. I wonder if there are any people in this forum who are currently, or have previously been C++/Java programmers working along side traders. I'd like to hear their thoughts/experience.
Well... no replies, so I guess the C++ programming world is all mine! LOL Either that, or all the trading Programmers are chatting on a C++ programming forum, rather than here. Best, EChicago
Echicago, Just to tell you what I know. Not given any advice. I've met many programmers who have switched to banking from other sectors to work in IT divisions e.g. IT support on systems/reports etc. I have met only 1 who sits next to a trader but even still on IT support. none has moved to sit next to a trader coding the latest exotic contract. for those who sit next to the trader their financial modelling skills are very important - and programming skill is a bonus they work on. remember programming is a tool that speeds up alot of things. but knowing how to program is not talent. it's more about what you can do with the code modelling the world using your natural science knowledge that matters. I know a quant at credit suisse in London who said they regularly receive CVs from Oxford/Cambridge Phd's who are frequently rejected. I'm amazed at times at some of the threads I see on this board about doing some little course and making a switch into banking over night. Most people heavily underestimate the competition. Knowing the market in London, I can firmly tell you even with the right background and skills you still have to compete with many talented candidates. Stepping in can be very easy if you go for a lower profile job. but talking about sitting next to the trader coding C++ you must really stand out. I'm just tell you what I know. Maybe it's different in US.
You will be very hard pressed to find a job sitting next to a trader and programming, c++ or java or even his vcr. Traders don't want a geek staring over his shoulder. If you do land a code-monkey job at an investment firm, you will be tucked miles away from the desk. The only way to access the desks is if you are a business analyst with the smarts to cross the chasm between the freaks (traders) and the geeks(code monkeys). There are of course exceptions to this rule.
I appreciate the very good feed back! Honestly, I'm really not interested in being in the same room/bldg as the trader. (I just assumed they were close to each other). My interested is in programming for the firm/trader, and earning $100k/yr. I see several job postings online all the time, so there must be a need... no? My initial post: ... I am enticed by the idea of working for a firm as a C++/java programmer as the $100k-$130k annual income... ...My goal is to get back into the investment/trading field (away from insurance), and bump my income up to $100k. Will my investment/market knowledge combined with my programming be sufficient to hire on to work <for> traders as a C++ programmer?
Right out of the gate, with no experience don't expect to command that kind of bank. You'll need to start off doing some grunt work, but you will be able to move around when your experience grows. DO NOT get married to any firm! If you want to make the coin, you have to move firms! Look at moving about every 18 months or so. Make friends at each company