Trader in Credit Suisse

Discussion in 'Professional Trading' started by vanillamango, Sep 27, 2006.

  1. Uhh no.

    Unless you get buddy/buddy with someone up in Credit Swiss trading department who may actually have power over their HR department, you actually hurt your chances.

    On Wall Street, Operations & Support is shunned upon, even though it is a critical department. No matter how smart, hardworking and talented you may be, they will always take some smartass from an Ivy over someone in their own IT department.

    Why such an obsession with being a trading analyst, it's not like they actually trade, or even have the slightest idea how to.
     
    #11     Sep 27, 2006
  2. sledged

    sledged

    hydro, HR has nothing to do with it. If a managing director or director likes you enough and thinks you have the drive/guts to make it as a successful trader...HR doesnt stand a chance. This director would tell HR what they are going to do. These places may be elitist in their hiring out of ivy's and what not but if you make a good enough impression you could smoke( no pun intended based on your name) someone that came out of Harvard, all they have is that degree and no face time with the manager. Personal relationships and time to prove yourself worthy show a person a lot more than a couple hour long interview ever could.
     
    #12     Sep 27, 2006
  3. WRONG, the way the big IBs operate, EVERYTHING has to go through HR. Compliance is something few can override. Trust me, you would be surprised how deep buearocracy has embedded itself into these institutions. It ain't 1980s anymore, these places have grown too big for that. If their legal is involved, forget about, even the head of the department will be helpless.
    When you get interviewed for the position, it's a dual process, you meet with HR and the department.

    Depending on the compliance & background checks, you're in but do not discount the power of HR in big corporate institutions. The real person to override HR is someone by the CEO, CFO, COO levels on the hierachy.

    Maybe, but you would be surprised. I'm talking from experience of my college friends, and the rapport is that unless you get buddy buddy with someone high up, you got no shot. You have to understand that you are going against the nepotism of the Ivy system. There are also other forces, such as the push of the MDs & Directors for their own alma mattas. And do not forget their own relatives & family friends that are also asking for the same thing.
    My friend, while in college, was working for DB as support for their trading department for two years. Not only was his Finance major right up the alley for a trading job, his grades were good and he was always working with assistant and senior traders. They still would not let him get into the trading program, the guys tried but said that they have their recruiting locked up from the Ivys. Now, obviously, had he made great friends with a Head senior trader or smth, they would have made an exception but in reality, as support you rarely deal with people in that position. Even then, becoming good friends with them is a stretch.


    It's not what you know but who you know. Holds more true today than before. But it's easier said than done and realistically, it's very hard to build any type of a relationship with a MD of the trading desk, it's not like you're just gonna keep approaching them and kissing ass when you are an IT.

    Is it possible? Yes. Probable? No. Also, as I have said before, Support department on Wall Street get shunned upon, have no idea why. You really would be amazed how these big banks will hire some fresh new clueless Ivy grad over someone in the support department that not only has the skills, drive, work, ethic & education but also knows the system and the people.

    This holds very true for the trading departments just because their staffing numbers are not high (and getting smaller). Their turnover is also not high, these are cushy & easy jobs.
     
    #13     Sep 27, 2006