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Student in the Laboratory, Lancaster University
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Reply 80
Hi, what degrees would you say are best for a career in mathematical finance, ie quantitative analysis? And also, who are the main recruiters of quantitative analysts?
Student in the Laboratory, Lancaster University
Lancaster University
Lancaster
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Original post by Lancaster University
26


How old were you when you hit 7 figures? :wink:
Reply 82
Hi I'm doing a degree in Pharmacy at King's College and I'm not that keen anymore into working as a pharmacist and was wondering whether there is any chance for me to go into a career in IB or something similar. What steps would I need to take and how can I get experience and what would I need to do??
Original post by Presence
its just being like a real investor but investing virtual money into FTSE 100 companies every day in the real stock market ^-^

What is the sales/revenue momentum like..is it showing signs of acceleration?
If you put money into marketing has that had a positive effect on your company results in previous rounds?
If you lower/increase product prices, how sensitive to sales is that?
(Sorry bit I don't want to get too side-tracked from main discussion)
Brown Guy
You need Work Experience- WP is a 'favour' ..you need to ask friends, family, alumni, sports club fellow members etc...
Volunteering also reads well.
Job/Part-time job as another option ideally combined with above two.
i.e. fill the summer.
.
Original post by BlueIndigoViolet
I know a lot go into IB (im guessing 95% of people in my school) for the money, how much do you make (sorry if thats a bit blunt), and what is the range of salaries open to an individual in the field.

That's a huge question and will vary a lot...but as a ballpark.
BB base starting salary graduate programme £50,000 plus small £5K relocation.
After 2 years as an Analyst £75/80,000 all in pay.
After 5 years as an Associate or moving to Vice President you should be looking at £150,000 possibly heading to £200,000.
After that anything is possible.
How well the bank does overall will effect bonus figures and above numbers.
Original post by dxvid
Hi there,

Thank you for starting this thread. JPM offer a 4 year apprenticeship scheme which includes a BSc from Exeter (Finance), couple of CISI qualifications as well as those years of back/middle office experience. For a job in Sales & Trading, how would this opportunity compare to the typical pathway of studying economics at a ‘target’ university?

Thanks

I don't know the details of that scheme but I would seriously question whether you could move from it into S&T.
So if you want S&T the latter might be a better option BUT remember S&T is not expamnding as a sector as:
- Banks are not able to take as much risk as they used to due to regulation and stringent capital requirements
- Trading is more and more automated and conduced electronically (but not all trading by any means).
With so many students wanting S&T you are trying to secure a spot with a very limited number of places.
Good to have a Plan B !
Original post by Lancaster University
Brown Guy
You need Work Experience- WP is a 'favour' ..you need to ask friends, family, alumni, sports club fellow members etc...
Volunteering also reads well.
Job/Part-time job as another option ideally combined with above two.
i.e. fill the summer.
.

Hello, I would like to say thank you for starting the thread in advance.
I will be sending my UCAS off at the end of this week- pretty late but I can not say much about that.
I am currently unsure about my 5th uni option and wanted some advice:
Do you know of a good uni with BBB/BBC requirements as my predicted grades are ABB, but ofc I need 1/2 safe choices as well.
The uni I am considering is from : Keele, UEW Bristol, Buckingham, London South Bank, City of London, nottingham trent, Manchester Met...and I am open to any other suggestions. I really want to know which of those unis would be the 'best option' as I am interesting in pursuing accountancy or other finance roles.
Another thing, i forgot to mention I am interested in A & F.
Thanks :smile:
Original post by yoink
Opinion on University of York? Hit me with the truth, if it's bad it's bad.

Going to York does not exclude you from anything. If you're a strong candidate, work very hard at this, learn what is required, and live and breathe financial markets /IB then you can either secure an IB role or at least one of several related sectors already discussed.
Original post by orangegoat
What do you think differentiates Analysts and MD's in a firm (aside from age lol)? Ops is only worthwhile (IMO) if you're able to move up the hierarchy quicker.

I don't disagree with your Ops comment. I'd do Ops if you like the idea of logistics/transaction processing/systems etc..I would not do Ops 'just to get into IB'...that could be miserable.

What differentiates Analysts..purely the quality/skill level and committment of the candidiate.But Analysts will vary massively from business division they work in i.e. the skills and competence required in IBD, S&T, Research & Risk are very different.

It might take you 15 years to get to MD -these guys tend to spend little time in the office rather fly round the world seeing clients hoping to be in the right place at the right time when e.g. their client wishes to make a strategic corporate move.
Original post by nani215
Hi, what degrees would you say are best for a career in mathematical finance, ie quantitative analysis? And also, who are the main recruiters of quantitative analysts?

Financial Mathematics would seem a good fit.
IB Risk Management requires these skills as does
Investment Consultants like AON/Mercer/Hymans Robersons..that world is all about pension assets & liabilities..a huge issue in the UK.
Then there are Actuary firms themselves...
Original post by orangegoat
How old were you when you hit 7 figures? :wink:

Too much detail :wink:
How would one go about learning the world of IB when still in sixth form?
Original post by bee264
Hi I'm doing a degree in Pharmacy at King's College and I'm not that keen anymore into working as a pharmacist and was wondering whether there is any chance for me to go into a career in IB or something similar. What steps would I need to take and how can I get experience and what would I need to do??

Whether you could go into IB or not might be a stretch but clearly I have already mentioned several sectors that would be a possibility for you.
Clearly you'd have to justify your move out of Pharmacy...which is do-able.
I do think you ned to balance your CV with some financial items ie
-Join and get involved with your Finance Society
-Try and get some financial work experience (the latter is a favour)
-Read some financial blogs and list on your CV
Look at Vendors or Retail & Commercial Banking where the classic IB CV will not be required.
Original post by Calm1237
Hello, I would like to say thank you for starting the thread in advance.
I will be sending my UCAS off at the end of this week- pretty late but I can not say much about that.
I am currently unsure about my 5th uni option and wanted some advice:
Do you know of a good uni with BBB/BBC requirements as my predicted grades are ABB, but ofc I need 1/2 safe choices as well.
The uni I am considering is from : Keele, UEW Bristol, Buckingham, London South Bank, City of London, nottingham trent, Manchester Met...and I am open to any other suggestions. I really want to know which of those unis would be the 'best option' as I am interesting in pursuing accountancy or other finance roles.
Another thing, i forgot to mention I am interested in A & F.
Thanks :smile:

Its hard for me to distinguish from those universities.From an employment point of view I do not think it will make too much difference.
Stick Lancaster down as one of your higher choices and I'll work with you when you get here :wink:
Original post by rumatar
How would one go about learning the world of IB when still in sixth form?


1) Look at Opening City Doors website.
2) Use the 'Contact Me' button and I'll send you some Lancaster Uni IB & Financial Landscape PDFs written by myself.
Includes various URL links to other sources.

Offer only open to school leavers.
(edited 5 years ago)
Original post by Lancaster University
Its hard for me to distinguish from those universities.From an employment point of view I do not think it will make too much difference.
Stick Lancaster down as one of your higher choices and I'll work with you when you get here :wink:

Thank you for such a prompt response !

I was considering Lancaster, but the entry requirements are AAB and I feel that I may not stand a chance(with ABB grades) :I
Do you know if there are access schemes or contextual offers made at Lancaster?
Another thing, would sending my application now hinder me from been given options since some people I have told me the courses could be full.
Hi, so I was considering IB and I just would like some clarification on some stuff:

- Would taking an apprenticeship route be better than joining IB as a graduate?
- Is it true that because the industry is so saturated with people wanting to get into it that jobs have low job security because many are replaceable?

I was reading some articles about how everything is very performance driven and that if you don't hit targets you will be fired in 1-2 years. This kind of put me off IB, is what these articles saying true?

People who are in IB are paid a lot, why is that? What is the cost?

Thanks
Original post by Calm1237
Thank you for such a prompt response !

I was considering Lancaster, but the entry requirements are AAB and I feel that I may not stand a chance(with ABB grades) :I
Do you know if there are access schemes or contextual offers made at Lancaster?
Another thing, would sending my application now hinder me from been given options since some people I have told me the courses could be full.

Hi...I am not an Admissions expert so I have to be careful what I say.I believe you would be considered with ABB and I would be happy for you to use my name in support of your application (or to be contacted at that time via Opening City Doors website) given that you have shown your proactiveness by participating in TSR/contacting me.Although courses are filling up I do not believe them to be full / refusing applications.
(edited 5 years ago)
Original post by Frazzle27
Hi, so I was considering IB and I just would like some clarification on some stuff:

- Would taking an apprenticeship route be better than joining IB as a graduate?
- Is it true that because the industry is so saturated with people wanting to get into it that jobs have low job security because many are replaceable?

I was reading some articles about how everything is very performance driven and that if you don't hit targets you will be fired in 1-2 years. This kind of put me off IB, is what these articles saying true?

People who are in IB are paid a lot, why is that? What is the cost?

Thanks

Hi...taking each question in turn
Appenticeship Route- it is still early to evaluate appenticeship vs graduate given apprenticeships haven't been around for long and there can be a little tension between both groups at the same firm.
Geting into IB as a graduate is tough! If you have an apprenticeship option this may be an easier way in IMO.

Job security is not as high as other industries as you know.This is because banking is quite cyclical in terms of profits a bit 'boom and bust' but banks are addressing this by building up their asset management arms.Jobs are not insecure because a lot of people want to enter the industry. Most people who lose their jobs move on to other jobs.It might be 5% or 10% who are let go when times are hard ..it is not 40 or 50%.if you are doing a good job you will be OK.

It is quite performance driven but you should have the confidence to do that. As I 've mentioned a few times on this thread..there are several non IB financial market/investment sectors that are more secure/balanced than IB.

IB people are paid well..because
-if you are involved in deals that earn e.g. $10 million in fees for the bank that matters to them and they will reward you.
-or if you are a trader that makes $3 Million for the bank..they can afford to pay you.
-or if you write research that influences important clients..they can afford to pay you.
-or if you do a good job in Finance(accountancy) or Operations ..they can afford to pay you but not as well as above..

Remember there are LOTS of different jobs out there in all sorts of financial sectors.IB is 10-15% of the pie!

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