<p>^I thought nepotism plays a major role in landing the interview while getting hired is based on meritocracy?</p>
<p>For a position in trading, it really isn’t about who u know. Otherwise in finance, yes, it can play a big role in a FIRST, interview or screen. I’ve been addressing the trading field specifically. Hope that clarifies my position.</p>
<p>hey, i want to jump in here and ask a general question.</p>
<p>What is a good background education and career to have leading up to being a trader? </p>
<p>There are lots of people from the sell side at IBanks that make the switch mid career. I am not sure if this is the norm or the exception.</p>
<p>Well I’m only 15 and I’m up 17% this quarter (on Investopedia, though) :P</p>
<p>Haha, but anyways…</p>
<p>By “Trading” you’re talking about IB, right?</p>
<p>There are two ‘types’ of trading that we are talking about. There’s open outcry, which is a physical room where people yell bids and asks and wear trading jackets signifying which exchange they work for, ect. These guys trade on the CBOE and NYMEX (though it ismoving away from this) and the NYSE. </p>
<p>The second is essentially electronic or computer traders that use an ECN. They trade on various platforms and can technically be located anywhere. </p>
<p>IBanking firms will often have traders of both sorts in employment, particularly the largers firms. An investment banker him/herself is NOT a trader though. The best way to describe that is to say that everyone that works at a film studio in Hollywood isn’t an actor. Investment bankers themselves typically handle IPOs, sometimes corporate restructuring work, and often mergers and acquisitions. </p>
<p>To answer econgrads question, i think trying to get a job in Chicago or NY on the floor itself would help you more than anything else. Be a clerk in the pits. Try to get a spot interning or working on the exchange floors. There is absolutely no substitute for that experience. In terms of your earlier statement about finance as a major, you are extremely incorrect. Finance IS all math. If you are taking a finance class’s exam that isn’t 95% math questions or computer modeling, it had better be an elective, otherwise your college/university is not doing its job.</p>