Hey guys, I know this is more of a day trading forum, but I was hoping some of you guys might be able to help me out. I'm interviewing for a floor clerk position with a firm that trades on the American Stock Exchange, Chicago Mercantile Exchange, New York Merc and the Philadelphia Stock Exchange. I was wondering what I should be expecting going into the interview and what they might be looking for. Beyond that, I was curious as to what I should expect in a typical day as a clerk. And to what type of advancement potential there is in that position? As far as compensation and responsibilities. Thanks for the help guys. Jammy
In my days at the merc floor clerks were usually hired because they were hard working, smart, and trainable. However promotions were few and far between. Some firms automatically moved you up the ladder - if worthy. many firms however looked at clerks as just clerks and had no intention of promoting them ....
Thanks for the response Caltrader. I guess the main thing I was interested in was whether or not there is any space for promotion. Is it a position where I will actually learn anything about trading and be able take it with me on my resume as a good experience? Or is it not such a great career choice for someone who is looking to end his career in investment management? Jammy
I started out on the Merc Floor working for the exchange: I then began working with member firms consulting to them on building mathematical models. I moved on to Theoretical Physics mathematics and later building computer software systems. I now have a couple of companies. The experience I received from watching top traders and being part of the markets was invaluable and could not have been duplicated elsewhere. Today, I do not believe that working on the floor of the merc or the CBOT would have the same value since many top traders work electronically off-floor. Clerking is the traditional entry level job and can lead to other things only if the principals at your firm - or your direct boss - have a real desire to train you and promote you. Like I said, many people get into these entry level jobs thinking that it is their ticket to an exchange seat or management job down the road. ... Most dont get these. So, if you are looking for exposure to the markets then , yes these can be first steps. Promotion opportunities vary greatly and you need to talk to many ex-employees and your potential boss to decide if the firm has potential or if you will just work there to move elsewhere ... Good luck.