so, if I wanted to become a trader/broker...what do I need?-

[minimax]

in terms of qualifications?

I hold mortgage advice qualifications (CeMAP) and financial advice qualifications (FPC) but i'm looking to make a move either to a city based high net worth IFA company (mucho £££ but not much else) or alternatively, i've always wanted to be at the sharp end rather than in retail financial services...(mucho mucho £££ but also personal satisfaction) and I would like to be city/docklands based and do something derivatives based...looking for inspiration on how to go about it, what I need to do qualification wise to be proficient, where to look, that sort of thing

any help would be appreciated city types!

>> Edited by minimax on Wednesday 1st March 14:49

[minimax]

clubsport said:

As Shady says difficult to get in these days, one way is getting into a smaller firm or fund....or if you know somone who can at least get you through thr door..... Having Fsa, series 7 & 63 I took the securities institute Invest mgmt certificate a few years ago in the UK....there were quite a few people sitting the exams who were yet to get employed, it certainly is competitive. Good Luck!

thanks..might investigate those certificates later today they'd be handy even if I stayed in my current industry

[minimax]

HarryW said:

wtd said: i was discussing interviews with my brokers the other day, and the interview for a new board boy (someone who wrote prices on a board) i.e. someone straight from A-Levels went like this.. Broker: 'Can you write down 1/4 as a decimal' Candidate: 'Erm, lemme think.. is it 0.25' Broker: 'Yeah well done, can you write down 1/8 as a decimal' Candidate: 'Erm, we didn't do 1/8ths at school, sorry..' Broker: 'Ok fine... can you drink?' Candidate: 'Hell yeah' Broker: 'Ok, you got the job' Candidate: 'Coool' Start at the bottom and work up. .... The sad thing is, if he isn't already, he will soon probably earn more than the majority of adults, the worlds gone mad . Best of luck with the search, my sisters eldest is just finishing economics with a predicted 2:1 (too much rugby/drinking for the 1:1) and as a 21 year old is looking at 40-45K starting, I think with a US bank. >> Edited by HarryW on Thursday 2nd March 08:18

hmm.. 40-45k would represent a reasonable pay cut at the moment but it's something that wouldn't necessarily annoy me as it's as you say, a starting point... I need to do a lot more research!

[minimax]

HarryW said:

minimax said: HarryW said: wtd said: i was discussing interviews with my brokers the other day, and the interview for a new board boy (someone who wrote prices on a board) i.e. someone straight from A-Levels went like this.. Broker: 'Can you write down 1/4 as a decimal' Candidate: 'Erm, lemme think.. is it 0.25' Broker: 'Yeah well done, can you write down 1/8 as a decimal' Candidate: 'Erm, we didn't do 1/8ths at school, sorry..' Broker: 'Ok fine... can you drink?' Candidate: 'Hell yeah' Broker: 'Ok, you got the job' Candidate: 'Coool' Start at the bottom and work up. .... The sad thing is, if he isn't already, he will soon probably earn more than the majority of adults, the worlds gone mad . Best of luck with the search, my sisters eldest is just finishing economics with a predicted 2:1 (too much rugby/drinking for the 1:1) and as a 21 year old is looking at 40-45K starting, I think with a US bank. >> Edited by HarryW on Thursday 2nd March 08:18 hmm.. 40-45k would represent a reasonable pay cut at the moment but it's something that wouldn't necessarily annoy me as it's as you say, a starting point... I need to do a lot more research! It's been mentioned before but in the real world 40-45K for a 21 year old as a first job is obscene. There are not many industries that pay anything like that amount. The city is detatched from the real world when it comes to pay scales. I understand the arguements about the sums involved, however gambling with other peoples money is not a life endagering or threatening position and just adds another Mr percenter (shylock) to every walk of business. I know it is a business in its own right in some area's, but it is a self serving one, which has been generated over the years into one that is depended upon by economies . Not religious myself but the analgy to the money lenders in the bible comes to mind . Long hour are also banded about as reason for the pay, I've never bought into that theory myself, plenty of people work longer and harder hours for a lot lot less. Not sure of your age or current pay scale Mini but best of luck to you. Money is obviously a key driver and I find it slightly incredulous you feel that is low figure for a 21 year old . You may note that I'm of the school that thinks that city pay doesn't truely reflect the added value to the country. If that was solely the case then the computer programmes that now do a similar job should cost a few billion to purchase . Apologies for the rant

I understand all that you say, I didn't mean to suggest that 45k at 21 is not a lot, frankly it's an amazing amount of money!

at 21 I was earning about 12k (as a student but even so..)

i'm 24 now and I suppose taking something like the figure mentioned above might knock 10-15k ish off my current arrangement but i'm looking for my next move at the moment in order to move on to something more challenging and better paid and as the received wisdom has it - always look two steps ahead!

it looks like i've some thinking to do..I have a few options available to me but making up my mind to jump is the main hurdle!