well Im a grad, I'm out of college. I'm just having a really difficult time getting in the industry, at any capacity. Ideally I want a assistant trader, salary position. However I am saying despite my determination, my not preparing for the industry triumphs my effort beside getting a prop position, which of course I am totally nervous about. But I 100% see what you are saying. But the OP, patrick, and you guys in general weren't talking about grads though, so really I apologize if my post was kind of out of place. maybe i was just venting...
I went to Harvard and graduated with a sub 3.0 (probably < 10% of class) in Gov. It was difficult getting interviews for junior year summer internships because my GPA was low, but I got a good idea of what they were looking for after going through the process and meeting some traders in NYC. Unfortunately I didn't get a big Wall St internship, but I kept looking and finally landed an unpaid internship with a broker. It was not what I wanted to do, but I needed the experience. I landed a bunch of interviews with banks and funds after listing my new and RELEVANT experience. I ended up taking a position with the biggest bond manager in the world. I separated myself from the pack--a lot of finance guys from Wharton, NYU, MIT-- by studying harder than they did for interviews: reading CFA books, scouring the net for market news, and thinking of trends. It took a lot of work, but it paid off. Your GPA does not define you, but you're likely going to have to look at smaller shops and be aggressive in marketing yourself. After the normal route, I suggest contacting all of the local brokerage houses (jp morgan, citi, wamu, ae edwards, ML) and show up and sell yourself hard. You just need to find one friend in the industry and you'll start heading in the right direction. You must never give up and be your strongest advocate.
Hang in there, the market will be waiting for you when you are ready. Keep trying to build capital, and keep learning. If you have knowledge, money, and the desire, you can not be denied.
I really appreciate all the feedback. I know I have the determination, skills, and intellect and one day will really succeed. So I appreciate all the knowledge passed my way in the process.
One thing about interning at a prop firm is that it would allow you to get licensed really quick. You could then leverage the licensing for a better internship (deemphasizing the prop) and/ or better job options after graduation.
This is all good information... Please do not write to me asking for an internship... I can only devote so much time to helping others... if you want to talk about what YOU CAN DO TO HELP YOURSELF by all mean I am here for advice...I want to give back to young aspiring traders trying to break into this industry...
I get hired by swift trade in montreal branch yesterday and today started the learning process .is a good place to learn a daytrading techniques. tia