I will be graduating from a top 20 university this May. I've majored in Economics with a special interest in Fed's monetary policy. I am looking to be hired as a junior trader or trading assistant. I am fairly familiar with how the equity market works and how the Fed controls money supply and interest rate--mostly macroeconomics stuff. Most prop trading firms I have talked to want me to put some money down if I want to work with them. As I happen to be a broke college student, I am looking for a job where I can get a base salary plus commission based on my performance (without money deposit). I have sent out my resume to most trading firms I can think of. Any help from you regarding my job search will be greatly appreciated. Thanks.
Getting a trading job
- Thread starter slee11
- Start date
Oh yeah. No help. I've had interviews with several trading firms through the career center at my school. Just waiting on them. Sending out resumes to monster or efinancialcareer appears to be a waste of time. Through those websites, so many people send their resumes that the job competition becomes enormously stiff. I would rather spend time posting a thread and making cold calls to land a job. Until now, I thought my resume was pretty solid (education from a top notch college and internship experience with a major investment bank). Now? Not so much. But I'm trying to look at the brighter side. This might be a period in which my mental toughness is tested. I just gotta keep sending out resume and making cold calls.
Don't most prop firms just pay you a certain % of your gains if you don't want to put down any $$$? Expecting a salary from a prop firm is not realistic, no?
Why not just apply for IB jobs if you want salary+bonus? (Is it too late to apply to IB jobs since it's already late March???)
Since you sound like you are either at U of Chicago or Northwestern, both of which are expensive private school, what's another $10k gonna do to your financial situation?
Quote from sunggong:
Don't most prop firms just pay you a certain % of your gains if you don't want to put down any $$$? Expecting a salary from a prop firm is not realistic, no?
Why not just apply for IB jobs if you want salary+bonus? (Is it too late to apply to IB jobs since it's already late March???)
Since you sound like you are either at U of Chicago or Northwestern, both of which are expensive private school, what's another $10k gonna do to your financial situation?
I've realized IB is not for me. I don't mind the long hours. I just can't stand its monotonousness. Conversely, I find trading much more exciting, stimulating, and dynamic. I like competition, and challenges. Trading has all that, and some. Now I want to give it a shot. By the way, most IB jobs (including the ones in sales & trading) are open only during the fall semester. Well, I thought I was going to graduate school for Economics during this fall semester, so I didn't apply for any jobs. Now I changed my mind, and am kinda stuck.
I am schooled at Notre Dame. Yeah, it is a private school, and I've paid a lot of money for its education. What's another $10K? It is a lot of money when you are a college student. I've taken out student loans to come here. I don't want to borrow any more money.
Use your Alumni connection, especially in Chicago...
It is very strong in alot of firms, and it will help you get your foot inside the door.
From my limited experience, I tend to see more ND guys who are hooked on sportbetting... losing more in that, than trading... just watch out for sports betting...
It is very strong in alot of firms, and it will help you get your foot inside the door.
From my limited experience, I tend to see more ND guys who are hooked on sportbetting... losing more in that, than trading... just watch out for sports betting...
Quote from TSGannGalt:
Use your Alumni connection, especially in Chicago...
It is very strong in alot of firms, and it will help you get your foot inside the door.
From my limited experience, I tend to see more ND guys who are hooked on sportbetting... losing more in that, than trading... just watch out for sports betting...
Thanks for the advice. I should make a job search posting on the Chicago alumni club website. Yeah, I myself used to spend a lot time in the sports book stuff. I got over it once I started losing some money. Any more advice you could offer?
The best way of finding a job is through connections. These connections can be developed through those summer internships where you have a chance to make an impression on someone. That "someone" might hire you on after college or may know someone else who can.
Besides summer internships, I will now tell you my secret way of finding the top contacts. Go to www.meetup.com for New York City and look under the cultures/community section under happy hour and singles.
I found this site on a certain blog that I visit and have been a part of it for two weeks. Already, I have been to a few happy hours and parties and met a VP at JPMorgan, a senior manager at American Express, an analyst at Morgan Stanley, quite a few doctors and a bunch of other people. Not to mention, I have had two great dates with some of the ladies.
Send me a PM and I'll tell you the one to join to meet some financial professionals in NYC.
Besides summer internships, I will now tell you my secret way of finding the top contacts. Go to www.meetup.com for New York City and look under the cultures/community section under happy hour and singles.
I found this site on a certain blog that I visit and have been a part of it for two weeks. Already, I have been to a few happy hours and parties and met a VP at JPMorgan, a senior manager at American Express, an analyst at Morgan Stanley, quite a few doctors and a bunch of other people. Not to mention, I have had two great dates with some of the ladies.
Send me a PM and I'll tell you the one to join to meet some financial professionals in NYC.