What is going to be new high commission based financial job
My question is this, what is another job where commission makes most of the salary and it is not strange for new entries to make serious gains within the job within 5 years commanding total compensations of upwards of 130k?
Hi- just thought i'd give you a brief introduction. I have just graduated from york with a degree in Mathematics. I always found myself looking towards inter dealer broking as a potential career, after talking to family in the industry and other people I know all forms of broking are dying . Even sectors such as shipbroking. With weak markets and volumes there is just not the cash to be made any more, it has become harder, a lot harder for a twenty something to enter this field and put in a good few years hard work and pull in bonuses of up to 300k and yes it does happen I personally know someone who did at the age of 26 .I am great at building relationships and get on with majority of people easily.Can anyone suggest a job role within finance that would suit and also match my goals. Note: if it helps I am from Essex.
Hi- just thought i'd give you a brief introduction. I have just graduated from york with a degree in Mathematics. I always found myself looking towards inter dealer broking as a potential career, after talking to family in the industry and other people I know all forms of broking are dying . Even sectors such as shipbroking. With weak markets and volumes there is just not the cash to be made any more, it has become harder, a lot harder for a twenty something to enter this field and put in a good few years hard work and pull in bonuses of up to 300k and yes it does happen I personally know someone who did at the age of 26 .I am great at building relationships and get on with majority of people easily.Can anyone suggest a job role within finance that would suit and also match my goals. Note: if it helps I am from Essex.
Inter dealer Broking still exists and will exist for a while longer. Look at ICAP and their opportunities. Off ourse, the pay isn't that good anymore and competition is really high but you should give it a shot.
If you're interested more in the financial markets side of things than building relationships with clients then maybe consider trading. It pays well and is similar to Broking in the sense that they are both fast paced, stressful, high-octane environments where a lot of your compensation is determined based on the profit you generate.
If you're interested more in the financial markets side of things than building relationships with clients then maybe consider trading. It pays well and is similar to Broking in the sense that they are both fast paced, stressful, high-octane environments where a lot of your compensation is determined based on the profit you generate.
(edited 7 years ago)
Thanks for the quick reply
I am confident I can get a job at an inter dealer broker, I have spoken indirectly to a few heads of desks there and their general consensus is it is a serious sunset industry. I have considered trading much harder to break in for me as I feel my personality is my strongest point. I have limited financial work experience 4 months at a private brokerage where all I did was sell in one form of the other, hear trading is harder to break into must have an internship etc. By trading do you mean execution for clients or market making people continually combine the two on here.
I am confident I can get a job at an inter dealer broker, I have spoken indirectly to a few heads of desks there and their general consensus is it is a serious sunset industry. I have considered trading much harder to break in for me as I feel my personality is my strongest point. I have limited financial work experience 4 months at a private brokerage where all I did was sell in one form of the other, hear trading is harder to break into must have an internship etc. By trading do you mean execution for clients or market making people continually combine the two on here.
Original post by bdodsy
My question is this, what is another job where commission makes most of the salary and it is not strange for new entries to make serious gains within the job within 5 years commanding total compensations of upwards of 130k?
Hi- just thought i'd give you a brief introduction. I have just graduated from york with a degree in Mathematics. I always found myself looking towards inter dealer broking as a potential career, after talking to family in the industry and other people I know all forms of broking are dying . Even sectors such as shipbroking. With weak markets and volumes there is just not the cash to be made any more, it has become harder, a lot harder for a twenty something to enter this field and put in a good few years hard work and pull in bonuses of up to 300k and yes it does happen I personally know someone who did at the age of 26 .I am great at building relationships and get on with majority of people easily.Can anyone suggest a job role within finance that would suit and also match my goals. Note: if it helps I am from Essex.
Hi- just thought i'd give you a brief introduction. I have just graduated from york with a degree in Mathematics. I always found myself looking towards inter dealer broking as a potential career, after talking to family in the industry and other people I know all forms of broking are dying . Even sectors such as shipbroking. With weak markets and volumes there is just not the cash to be made any more, it has become harder, a lot harder for a twenty something to enter this field and put in a good few years hard work and pull in bonuses of up to 300k and yes it does happen I personally know someone who did at the age of 26 .I am great at building relationships and get on with majority of people easily.Can anyone suggest a job role within finance that would suit and also match my goals. Note: if it helps I am from Essex.
You just want to live down the stereotype don't ya? aha
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Original post by Princepieman
Unfortunately it is the natural progression from where I am from, especially my town!
But I stress it is a serious Sunset industry, anyone know what the compensation and day to day role in market making is? Is it much client sided or do they have entire sections within market making firms orientated to this. Do you eat what you kill?
Key points trying to find out;
Bonus level at a mid-top tier market maker?
How much client sided is it?
Original post by bdodsy
Unfortunately it is the natural progression from where I am from, especially my town!
But I stress it is a serious Sunset industry, anyone know what the compensation and day to day role in market making is? Is it much client sided or do they have entire sections within market making firms orientated to this. Do you eat what you kill?
Key points trying to find out;
Bonus level at a mid-top tier market maker?
How much client sided is it?
But I stress it is a serious Sunset industry, anyone know what the compensation and day to day role in market making is? Is it much client sided or do they have entire sections within market making firms orientated to this. Do you eat what you kill?
Key points trying to find out;
Bonus level at a mid-top tier market maker?
How much client sided is it?
Depends what you mean by 'market maker'. In an i-bank? In a quantitative proprietary trading house? In a market making team within a quant hedge fund?
Client interaction happens more at banks where you balance flow with making markets (depending on what trading desk you end up on). Ofc, you eat what you kill.. This is trading, PnL is king.
Bonuses vary based on seniority, product, desk, firm, type of firm, general market... You have to be more specific.
Btw, trading isn't an essex boys destination as much as broking is. At the banks on non-complex desks you'll need a pretty top tier (i.e. unis generally featuring on the top 10-15 list for Econ/Maths) education, substantial brainpower and interest to get through the interviews.
Quant prop shops are even more select. Unless you're a top tier Maths/Physics/Engineering/CS/Econ etc student, you'll struggle to get an interview or progress through the interview.
Personally, I think sales at a top bank would suit your so called 'essex boy' stereotype. You still need to meet the hiring bar tho.
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