How To Get A Trader Job

If you’ve seen all the excitement of the Hollywood films and you think that you would like to try your hand a trading on the stock market, then you can probably forget about most of the glamour and start to think about how hard you are going to have to work! One thing’s for sure though – if you get into this business and do well, you will make more money than you ever thought possible. If you think the position is for you and you think you have a quick enough brain and nerves of steel, then follow our guide to getting a trader job.

1. Qualifications. You need to make sure that you are just as well qualified as the guys that are already on the floor, or you have no chance of taking their positions. The bottom line is that you realistically need an MBA. This stands for master of business administration, and it is critical in getting a position as a trader. All of the guys working the floors have this qualification so it is unthinkable to apply without it.

2. Understand the markets. Or at least have a great understanding of certain aspects of it. You will never be expected to be able to know all there is to know about all of the markets, but make sure that you have a niche in which you are an expert. This could be credit derivatives or mortgage backed securities – it doesn’t matter as long as you can cite one particular area in which you know the market inside out.

3. Start off low down. You cannot just walk into a job in Wall Street or somewhere similar on the trading floor. You need to start at the bottom of the pile and show initiative from there. You should really take anything going just to get your foot in the door, so you need to get your resume to as many companies as you can find that are operating on the trading floors.

4. Be prepared to take a low paid job. The fact of the matter is that when you complete your MBA course, you will be able to command more money from other jobs in the beginning. The first job you are likely to get working for traders will not pay you well, but if you stick at it then you can probably expect to earn ten times your starting salary in a few years. The trick is not to be greedy when you finish your training and opt for something else. Stick to your dream and ambition, and work hard at getting your foot in the door for a trading job!