About to graduate, what should I do?

Amatrue

Amatrue

I know this site isn't exactly the right place to ask for career prospects, but I know many users here come from finance related backgrounds and I would like your opinion on how I can develop my career in trading.

I am about to graduate with an economics degree with an average GPA. My resume is not fancy so my chances of getting into big banks are slim. I am very interested in developing my background and knowledge in trading and want hands on experience in trading for financial firms in my future career. However, I don't know what roles I should take on or what companies I should target in order to get to where I want.

The majority of trader or research analyst roles at smaller firms that I looked at require a couple years of experience and do not welcome fresh graduates. The only role I am hopeful of getting accepted is the role of dealer at brokerage firms, but I am afraid it may be a dead end job. So I am wondering what qualifications/educations I should receive or what roles I can apply now to break into a trading related role in the future.

I also read that my first position out of college is looked heavily upon by recruiters, so I don't want to make the mistake of taking up a role that would affect my chances of making it as a trader. Which is why I was debating on taking a year, after graduating, to make my application more competitive by developing my technical skillset such as learning python to develop and backtest strategies.

Is this a good choice to make? What other options do I have? If you are/were in a trader related discipline how'd you make it there?

Thank you for your time.
 
Amatrue said:
I also read that my first position out of college is looked heavily upon by recruiters, so I don't want to make the mistake of taking up a role that would affect my chances of making it as a trader. Which is why I was debating on taking a year, after graduating, to make my application more competitive by developing my technical skillset such as learning python to develop and backtest strategies.
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I think taking a year off and doing nothing would look far worse to recruiters (they will assume that you did nothing anyway unless you have something to show for it) vs. not landing your ideal job right out of college. Agree with improving your technical skillset, but you can do that while you work. You can learn Python on your own or if you want to have something you can put on your resume, you can take a Python course at a local or online university while you work assuming your work will pay for it (most employers would). Get the best job that you can find and do well at it. The truth is that after a few years working, employers will care far more about what you accomplished vs. where you went to school or what your GPA was.
 
You're over-complicating.

Make sure you got the profitable strategy & you understand the game from A to Z.
(Noone knows it that well, but one can try/do his best)

Get the capital.
Prove that it works & get your family/friends on board (as clients)

Get the licenses, start your own bis & go big.

Da hell with working for somebody else.
 
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Amatrue said:
... I would like your opinion on how I can develop my career in trading.

What other options do I have? If you are/were in a trader related discipline how'd you make it there?
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Look for internships at hedge funds, prop trading firms. Make friends or talk to family members in the field who may be able to help you get an entry level job.

BTW, skills in demand today aren't really python or backtesting anymore, since basically anyone who's had high school stats could do these things with the turnkey software packs available today. Employers today, at the more successful outfits, have become aware that backtesting is useless. More specialized skills are in demand, e.g. a few UK energy trading firms have been looking for meteorology PhDs in the past few years.
 
I had a student in this situation a few years back (2006 or 07). He pounded the pavement in Southern California and hand delivered letters of interest and resumes/CVs to every fund from the Mexico border to Six Flags. He personally watched numerous people put his application in the trash after seeing he came from a 'lower' ranked University of California campus. Out of over 1500 contacts he received 2 interviews and one offer. He was also offering to work for free (not possible for many).

He parlayed that experience into better jobs over time and is doing well now.
 
I know maybe you might not like what I will say but if I was 22 again, I would drop everything right after graduation. I would cut the rat race and chop its head off. Cut contact with unnecesarry people and anything to do with this job or that job that will keep me anxious.

Assuming I got money saved; I would go to Thailand, and Brazil to get fit and start Brazilian Jiu-Jitsu & Muay Thai. Give myself 1 year time-off from everything, friends, girlfriend,family and in the meantime learn whatever skill online, python or whatever. Come back totally rehabilitated, focused,disciplined, tough, jacked, I know what I want attitude, no sign of anxiety and full of energy. If you get called to a job interview, it will be like drinking water.

In fact after a year you will be different and you wont even recognize it. It will be different.

No disrespect, you asked a question and I gave my opinion. Cheers friend ans good luck
 
Amatrue said:
Is this a good choice to make? What other options do I have?
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I would go get yourself an entry-level corporate finance job at a good company, and learn as much as you can about programming on the side. Then try to harness this work experience coupled with your newfound programming knowledge and land a job at some fintech company, preferably one that gives you generous stock options upon joining.

I would ignore the hedge fund, research analyst, trading desk jobs altogether and instead focus on developing programmable trading ideas as a hobby, and funding these ideas from saving a lot of your money from your fintech job.

You will have more job security, and probably will make a higher salary eventually if you go this route.

The next big wave of disruption is about to hit the financial services industry - I predict that many of the most well paid niches in finance over the last 30 years are going to be dramatically commoditized over the next 10 years....trust me, you don't want to be working in an industry when people get scared and the musical chairs start to run out. It doesn't make for a happy life.

Just one guy's opinion.
 
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I'm going to say what you should do and then what you can do.

What you should do: Do not take a year off. The next year you will be competing against a fresh batch of new grads hungrier than you and viewed better in recruiters eyes. Any relevant employment is better than no employment. Once you are in industry you can figure what skillset matters and you can pivot once in. From the outside you are nobody.

What you can do: Anything you really want. It's your life and you get one shot at it. You might find out you don't actually want to be in finance/cap mkts at all.

Good luck.
 
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