Question for the city boys
Discussion
Two things that have come up, after been in pub and thinking about it:
1) Ages ago I applied to Goldman, I just got an email today saying I had been rejected (I'd forgotten all about it tbh), so don't worry about it.
2) I wasn't suggesting a twenty grand payment, I was suggesting a twenty grand deposit. I can't see how one would get a decent position limit without at least that sort of money.
1) Ages ago I applied to Goldman, I just got an email today saying I had been rejected (I'd forgotten all about it tbh), so don't worry about it.
2) I wasn't suggesting a twenty grand payment, I was suggesting a twenty grand deposit. I can't see how one would get a decent position limit without at least that sort of money.
Retard said:
Two things that have come up, after been in pub and thinking about it:
1) Ages ago I applied to Goldman, I just got an email today saying I had been rejected (I'd forgotten all about it tbh), so don't worry about it.
I got the same one this afternoon too 1) Ages ago I applied to Goldman, I just got an email today saying I had been rejected (I'd forgotten all about it tbh), so don't worry about it.
Not heard from New York yet so there's still hope 
I'm still waiting to hear from a few more investment banks, I think Merrill Lynch is looking like my best chance at the moment.
g4ry13 said:
I got the same one this afternoon too Not heard from New York yet so there's still hope
I'm still waiting to hear from a few more investment banks, I think Merrill Lynch is looking like my best chance at the moment.
Good luck with the applications. Not heard from New York yet so there's still hope I'm still waiting to hear from a few more investment banks, I think Merrill Lynch is looking like my best chance at the moment.
That reminds me, when I got a rejection from Merrill Lynch, the miserable bastards just sent me a bog standard postcard, no feedback, nothing! Still, at least it didn't say "Glad you're not here."
Edited by shadowninja on Monday 12th November 18:32
Obviously if the chance comes don't turn an opportunity down at ML, they appear to have hired aggresively over the last 2 years, earlier in the year they seemed to move a canteen area to get more desks in as they were running out of space...only downside to this I wouldn't be that suprised to see some attrition there in the new year after recent events???
One way may be to start in a temp role at middle office, there seem to be quite a lot of these available and you would get a good grounding in various products, maybe at different firms if you move around before finding a permanent seat you are happy with?
One way may be to start in a temp role at middle office, there seem to be quite a lot of these available and you would get a good grounding in various products, maybe at different firms if you move around before finding a permanent seat you are happy with?
Retard said:
Horse_Apple said:
Never put your own money up and never pay for your own education. Both of those are so wrong it's not possible to shout loud enough.
I certainly wouldn't do it, but if he's desperate to trade...
LeTim said:
che6mw said:
houlbt said:
ML are definately one of the shops that expands/contracts quite notably with the mkt. There will be job losses there in the next 12 months I don't doubt
Mr Houlbrook - long time no see, sir 
che6mw said:
LeTim said:
che6mw said:
houlbt said:
ML are definately one of the shops that expands/contracts quite notably with the mkt. There will be job losses there in the next 12 months I don't doubt
Mr Houlbrook - long time no see, sir 
LeTim said:
che6mw said:
LeTim said:
che6mw said:
houlbt said:
ML are definately one of the shops that expands/contracts quite notably with the mkt. There will be job losses there in the next 12 months I don't doubt
Mr Houlbrook - long time no see, sir Horse_Apple said:
Retard said:
g4ry13 said:
The sensible route is a settlements roll or trade support roll at a respected bank/brokerage that will fund you to do an MBA after a couple of years, from which you move across into managing. It is a tough route but honest and rewarding.
I can't see any banks putting up the 40 large it would cost to do a decent MBA for a settlements monkey with 2 years experience and by the time you've made it to VP to even be considered for that sort of thing you're too old/too high up the middle office/back office ladder to move into a trading role anyway!shadowninja said:
Retard said:
No salary, you just get 50+% of what you earn for the company, who provide some capital to begin with, training etc. If you don't earn, you don't eat. If you do earn, you get much more of what you have earned than a conventional salaried trader, and there's a lot more freedom about what and how you can trade. And if you blow up, you're not personally liable. The caveat, of course, is most don't make it, and those that do can probably make more money trading for an investment bank or hedge fund.
Is this what you do for a living then?Retard said:
g4ry13 said:
I'm still waiting to hear from a few more investment banks, I think Merrill Lynch is looking like my best chance at the moment.
Merril "lots of traders sacked recently" Lynch?One thing I'd say as advice is to apply to many more banks than you already have. It is a probabilistic game, and you improve your chances with more attempts. Take each one very seriously, too. It is very off-putting to get a form in from someone who clearly was irritated by the questions, or who could not be bothered to try hard. If we are going to start a graduate on 35-40k, we expect them to show that they really want it.
I know it seems a pain to answer the same things again and again, but you can make a big difference by spending a half a day on each form instead of half an hour.
NorthernBoy said:
It is not a route that I would recommend. The people making money out of this scenario tend not to be the traders.
Apart from the obvious of a graduate route which way do you think would be the best for me? Bearing in mind that I don't have a PhD like your good self I do take a lot of care over my applications and spend a lot of time (perhaps too much) to make them as good as possible. I'm just running low on names now for banks, i've hit all the usual suspects including the names you've previously mentioned to me.
Edited by g4ry13 on Tuesday 13th November 22:57
g4ry13 said:
NorthernBoy said:
It is not a route that I would recommend. The people making money out of this scenario tend not to be the traders.
Apart from the obvious of a graduate route which way do you think would be the best for me? Bearing in mind that I don't have a PhD like your good self I do take a lot of care over my applications and spend a lot of time (perhaps too much) to make them as good as possible. I'm just running low on names now for banks, i've hit all the usual suspects including the names you've previously mentioned to me.
Edited by g4ry13 on Tuesday 13th November 22:57
Make sure you have these guys covered;
http://www.israwards.com/award_categories.asp
Gassing Station | Business | Top of Page | What's New | My Stuff