<p>Besides the illustrious I-banking, what other kinds of careers are availiable in finance/ the stock market...</p>
<p>Are these good jobs open to those undergrad/grads from good, but not top schoos, ie Michigan State?</p>
<p>Thanks</p>
<p>Sales and Trading, prop trading, trading for a hedge fund, venture capital, LBOs etc.</p>
<p>However, all these are harder than ibanking and require a different skill set. Its a good thing to remember that the best compensated people in ANY ibank with a sales and trading department is the head of fixed income trading.</p>
<p>go to careers-in-finance.com</p>
<p>Do these positions in hedgefunds etc.. only go to those grads of top10 programs or could I snag one by going to a good but not quite as elite school, such as MSU?</p>
<p>Thanks for the responses</p>
<p>Hedge funds are even harder to get into than regular investment banking. Basically you can only get into them after business school at the VERY least and you usually have to have a connection at that. You pretty much have to have experience as an I-Banker and move into them later in your 30's-40's. However, if you're an exceptional talent you can get into them much earlier.</p>
<p>Forex work is going to be very hot in the next 10-15 years, as places like India and China seem poised to become major players...</p>
<p>Derivatives trading and trading in general pays big money.</p>
<p>uc_benz not entirely. If you graduate from Wharton, Harvard, and Chicago chances of you landing a hedge fund gig increases a lot. This year Wharton itself placed 4 graduates into Citadel Investment Corp and there were I think 1 DE Shaw. There were plenty of others but I am just throwing some names around. Its tough but not at all impossible. A good place to see this is at a headhunter website like GloCap. Search for them on google. </p>
<p>Haha forex is awesome. I love it. Trading it is so much more better than trading stocks. Its fast, no commissions only spreads, and can make you a lot of money. Plus its 6 days a week 24 hours a day :). I love finishing my school work and then trading some and then sleeping.</p>
<p>Well yeah, I was just giving the most realistic chances. I personally know someone who graduated from Wharton Undergrad and he is in Citadel right now, but he also had some connections to the company. There are around 1500 in the graduating classes of Wharton, so 5-10/1500? I don't like my chances :)</p>
<p>haha. BTW make the number about 20-30. Because many of the companies that I am seeing in the roster 2004 are hedge funds. Most hedge funds are like 10-30 personnel managing 500mill-1bill so its tough to recognize them.</p>
<p>Actually the graduating class I believe is about 600 students not 1500. :)</p>
<p>Haha sorry, I grabbed the wrong number. Anyways, the point is: the original poster would have a VERY difficult time getting into a hedge fund without connections.</p>
<p>point well taken.</p>
<p>Don't confuse the career of finance with working in a hedge fund, as a trader or whatever. The term "finance" more commonly refers to a career in a firm on the financial side of operations. Often, junior finance folks are glorified spreadsheeters.</p>
<p>So, even though Wall Street and private equity is involved in finance, we don't usually call them finance professionals.</p>
<p>jpps,</p>
<p>Can you elaborate on what career forex would ential. How would China and India affect it? Would it be good for one to speak Chinese or Hindii to get those jobs?</p>
<p>hehe forex couldnt care less about languages. The best trader I have ever talked to was from Turkey and could barely even speak English!!! Forex trading is a difficult concept. Its something you develop and strategize for. You have very minimal human contact when you are a trader. Your goal is to get the most money possible. Nothing else.</p>
<p>most people will say interpersonal skills are important for jobs in the finance world. forex trading requires little to none.</p>
<p>I work for a software company; there are a significant number of employees with finance backgrounds, doing finance-oriented work (revenue recognition, financial planning and analysis, sales operations). The same is probably true of any sizable company.</p>