I work in product control for a large IB. I started in ops and moved here, where I now look at derivatives valuations. I am desperately trying to move onto the trading floor. Preferably in sales but am finding it like hitting my head against a brick wall… I’ve got an MSc in Finance, speak 6 languages to varying degrees of fluency, passed CFA L1 last June and know my products pretty well. I actually met with one of the heads of institutional sales for a trade support role a few months back and he said that I’d get bored in the role but that he wanted to find me another job, suggesting a graduate sales trading role that he didn’t have the headcount for at the time. He also talked of other teams he was going to pass my details to as a result. This was in Feb but there has since been a headcount freeze. I have also met another senior sales guy through a mentor programme who was very enthusiastic and is putting my cv out there, but now just seems to be a really bad time all around. I don’t want to remain stagnant in my current role for too long (it’s been over a year and I also have what can at best be called a serious ‘personality clash’ with my boss) and don’t want to wait forever for a call that may never come. My two options that I see are to move internally to something more technical like market risk (I could probably switch fairly easily and some of the team are on the trading floor) or move into something that doesn’t stress my brain too much like trade support but would get me on the trading floor. I am a little bit reluctant to change companies since I would lose the contacts that I have made. Has anybody been in a similar position to me? Can anybody offer some words of wisdom or thoughts of a next career move? Advice welcome…
I’m in a similar situation as you as far as having found a few great contacts that are enthusiastic about my background but having the process grind to a halt with the current job market situation. It was making me miserable at first, but I’m basically happy to be secure in my current job and also have time to crank away at Level II. I can’t really say with conviction whether you should stay put or make a move in the meantime. What I can say is that you’ve got a great background and it’s just a matter of keeping it up at this pace and casting your net as wide as possible. A perfect position for you will come across the desk of one of your contacts, it’s just a matter of time.
Just out of curiousity, why sales? Just my personal opinion, but if you have a technical bend, which you do, I would think that you would get bored in sales. I know the money *can* be terrific, but it still takes a ton of effort and not everyone succeeds, especially those that get bored. I have a v similar background… spent some time in ops and moved in to product control in a similar role and funny enough also had a personality conflict with my boss. It prompted me to get in to an MBA program, which I did, and the seasonal recruiting process was the closest I came to getting in to a major trading floor… had interviews all over, but in the end came up craps… oh well. Since I hated the work relationship I had, I ended up moving banks and am now in tech doing similar work (risk analysis, valuations) in addition to getting a deep understanding of the systems and the entire business, for that matter. While I would like to make alot more money, I would say that the mental challenge of the job (and change of bosses) has made me much happier. In any case, that’s my .02 and I hope you find some luck… it’s a brutal market right now and it was never easy to break in, but I think you’re doing all the right things (networking, etc.).
Yea I hear you. Tough market right now though. Good time to put your head down and work on CFA exams… I know it’s not what you want to hear, but I think it’s kind of the going advice right now.
Yes, I too can feel that rush of excitement when I hear those magical words come out of my lips…CFA. No more back office as this sounds too “backwards” for me. It is now time for me to rise up to the front office so my inner genius can conquer Mr. Market.
Dalitbrahmincfa Wrote: ------------------------------------------------------- > Yes, I too can feel that rush of excitement when I > hear those magical words come out of my > lips…CFA. No more back office as this sounds > too “backwards” for me. It is now time for me to > rise up to the front office so my inner genius can > conquer Mr. Market. LOL…niiiiiiiiiiice
I’m trying to move from the FO to the BO.
I’m trying to make the move from BO to slight stank.
I am in BO trying to get to FO. I have read on other threads that your best bet is to get a BO job with a smaller firm if you are stuck trying to make this jump. It is a lot easier to interact with FO people and thus convey your interest in the market and your stalking skills.
Charlie, most everyone will have a ‘serious personality clash’ sooner or later, in your case sooner rather than later, which might be a good thing: Take the opportunity to learn how best to overcome it. You say that you don’t want to change company, so it’s crucial that you figure out a way to get on speaking terms with your boss; his support to you will be valuable when/if he can recommend you for the kind of job that you want. If you really want to transfer to a FO role, be prepared to stick with that idea for the long haul, it’s not something that is likely to happen overnight when the job market is against you.
thepinkman Wrote: ------------------------------------------------------- > I’m trying to make the move from BO to slight > stank. NICE!!!