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Can I become a trader with an economics degree Watch

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    (Original post by Grimm Reaper)
    Then what's getting automated than? Because I assumed fx, equity and the like would get automated, but your saying it's not then. :confused:

    Based on the flow on the convo here you need a quantitative degree to get into exotics trading and econ is not very quantitative. But your saying it's possible, seems contradictory If I'm honest.
    It's is possible. Just not as common as people studying maths or engineering or other maths related degrees. You'll probably find the work harder as well if you're not used to the type of maths that's used to price those derivatives. But you can learn that.

    Equities and some really simple products are already being automated.
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    (Original post by Grimm Reaper)
    Then what's getting automated than? Because I assumed fx, equity and the like would get automated, but your saying it's not then. :confused:

    Based on the flow on the convo here you need a quantitative degree to get into exotics trading and econ is not very quantitative. But your saying it's possible, seems contradictory If I'm honest.
    Cash equities has mostly been taken over by HFTs now, FX is still yet to be taken over as it's an OTC product with no central exchange where algos can camp and make markets.

    I'd ammend it to 'it's highly recommended' that you have a quant degree, doesn't exclude you per se from getting an exotics gig. Have a picture in my mind of someone from Durham Econ who works on a structured rates desk at a major balance sheet bank. If you're smart enough to understand what's going on with the products, you should be fine - again, if you put in the required networking/face time if you ever get an S&T internship. As you should know, S&T interns can't trade or advice clients as they aren't certified they mostly shadow/perform support tasks.
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    (Original post by Princepieman)
    Cash equities has mostly been taken over by HFTs now, FX is still yet to be taken over as it's an OTC product with no central exchange where algos can camp and make markets.

    I'd ammend it to 'it's highly recommended' that you have a quant degree, doesn't exclude you per se from getting an exotics gig. Have a picture in my mind of someone from Durham Econ who works on a structured rates desk at a major balance sheet bank. If you're smart enough to understand what's going on with the products, you should be fine - again, if you put in the requured networking/face time if you ever get an S&T internship. As you should know, S&T interns can't trade or advice clients as they aren't certified they mostly shadow/perform support tasks.
    It's mind boggling how much you know about finance- I thought it was just IBD but turns out you know a lot about trading as well.
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    (Original post by Ladbants)
    It's mind boggling how much you know about finance- I thought it was just IBD but turns out you know a lot about trading as well.
    Thanks man. Trading was an interest too, sat with a few traders at a bank last year and have stayed in touch with them. Also, I trade my own account so picked up a few things from reading around.

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    (Original post by Princepieman)
    Cash equities has mostly been taken over by HFTs now, FX is still yet to be taken over as it's an OTC product with no central exchange where algos can camp and make markets.

    I'd ammend it to 'it's highly recommended' that you have a quant degree, doesn't exclude you per se from getting an exotics gig. Have a picture in my mind of someone from Durham Econ who works on a structured rates desk at a major balance sheet bank. If you're smart enough to understand what's going on with the products, you should be fine - again, if you put in the required networking/face time if you ever get an S&T internship. As you should know, S&T interns can't trade or advice clients as they aren't certified they mostly shadow/perform support tasks.

    Yeah I think I'm going stop pursuing vanilla trading, don't wanna loes my job after working in it. So it's possible for me to get in to exotics trading provided I can prove my worth.

    The natural thing pops into mind is to do a quantitative masters to compensate for the lack of maths. Like doing a comp sci masters which proves I have the ability to do the job; but you say it's pointless of doing it. But I have to work really hard to prove my worth to them. Not sure what to do now.

    Thanks for the helpful advice. You seem very knowledgeable in this field do work in a investment bank?
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    (Original post by Grimm Reaper)
    Yeah I think I'm going stop pursuing vanilla trading, don't wanna loes my job after working in it. So it's possible for me to get in to exotics trading provided I can prove my worth.

    The natural thing pops into mind is to do a quantitative masters to compensate for the lack of maths. Like doing a comp sci masters which proves I have the ability to do the job; but you say it's pointless of doing it. But I have to work really hard to prove my worth to them. Not sure what to do now.

    Thanks for the helpful advice. You seem very knowledgeable in this field do work in a investment bank?
    It's pointless if you haven't already tried (and failed) to get on an exotics desk (or even an S&T internship). Till then, you're better off maximising your chances of as you put it 'proving your worth' - a masters should be a back up to re-try just in case it doesn't work out the first time. It shouldn't be an automatic option to take because of time/money commitment involved.

    Nope, but I've been immersed in the whole finance thing for like 3 years now and have a network of friends and contacts across several banks, asset managers, consulting firms, etc.. You learn a thing or two through osmosis.

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    (Original post by Princepieman)
    It's pointless if you haven't already tried (and failed) to get on an exotics desk (or even an S&T internship). Till then, you're better off maximising your chances of as you put it 'proving your worth' - a masters should be a back up to re-try just in case it doesn't work out the first time. It shouldn't be an automatic option to take because of time/money commitment involved.

    Nope, but I've been immersed in the whole finance thing for like 3 years now and have a network of friends and contacts across several banks, asset managers, consulting firms, etc.. You learn a thing or two through osmosis.

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    Thanks I've just finished my 1st year going in to my 2nd year. I'll try and get an S&T internship and network hardcore in the bank. If I fail then I would do an master and retry again hopefully this time getting in.

    Damn I would have thought you worked in finance with that amount of knowledge. What do you work as, if you don't mind me asking?
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    Of course there are traders in various areas with everything from a mile long list of advanced degrees to barrow boys pulled off the street.
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    (Original post by Grimm Reaper)
    Thanks I've just finished my 1st year going in to my 2nd year. I'll try and get an S&T internship and network hardcore in the bank. If I fail then I would do an master and retry again hopefully this time getting in.

    Damn I would have thought you worked in finance with that amount of knowledge. What do you work as, if you don't mind me asking?
    Solid, good luck.

    I'm not working atm, going to uni this year. Thought I'd be useful and pass on info I've learnt in the past three years to people on TSR (hence the being a mod thing).

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    (Original post by Princepieman)
    Cash equities has mostly been taken over by HFTs now, FX is still yet to be taken over as it's an OTC product with no central exchange where algos can camp and make markets.

    I'd ammend it to 'it's highly recommended' that you have a quant degree, doesn't exclude you per se from getting an exotics gig. Have a picture in my mind of someone from Durham Econ who works on a structured rates desk at a major balance sheet bank. If you're smart enough to understand what's going on with the products, you should be fine - again, if you put in the required networking/face time if you ever get an S&T internship. As you should know, S&T interns can't trade or advice clients as they aren't certified they mostly shadow/perform support tasks.
    What qualifies as a quant degree? Is it just maths and engineering or do some of the joint honours courses with maths count? Because stuff like maths and business studies or maths and econ aren't really that quantitative...
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    What about a physics degree? Would that allow you to go into trading?
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    (Original post by JustDynamite)
    What about a physics degree? Would that allow you to go into trading?
    obviously

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    (Original post by Ladbants)
    What qualifies as a quant degree? Is it just maths and engineering or do some of the joint honours courses with maths count? Because stuff like maths and business studies or maths and econ aren't really that quantitative...
    STEM, excluding maybe straight biology.

    Maths is still Maths *
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    (Original post by Ladbants)
    What qualifies as a quant degree? Is it just maths and engineering or do some of the joint honours courses with maths count? Because stuff like maths and business studies or maths and econ aren't really that quantitative...
    Maths and business or maths and economics will be quant enough for all the vanilla desks and possibly for exotics desks if you can prove that you have a good grasp of the product and are co off table with the maths involved. I've seen one or two people with Warwick MORSE on exotics desks on LinkedIn so you don't need straight maths or engineering to be quanty enough for an exotics desk.
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    (Original post by Princepieman)
    Solid, good luck.

    I'm not working atm, going to uni this year. Thought I'd be useful and pass on info I've learnt in the past three years to people on TSR (hence the being a mod thing).

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    Oh I'm going to assume your doing a masters or MBA right? Do you plan on working in the investment bank once your done with uni? Someone with your knowledge and various contacts and networks in the industry should be quite easy for you to get in.
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    (Original post by Grimm Reaper)
    Oh I'm going to assume your doing a masters or MBA right? Do you plan on working in the investment bank once your done with uni? Someone with your knowledge and various contacts and networks in the industry should be quite easy for you to get in.
    Nah, not a masters just a bachelor's in maths/computer science. An MBA would be an interesting thing to do after some years of working.

    Ahaha, wouldn't say it's easy but we'll have to see how it goes.

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    (Original post by Princepieman)
    Nah, not a masters just a bachelor's in maths/computer science. An MBA would be an interesting thing to do after some years of working.

    Ahaha, wouldn't say it's easy but we'll have to see how it goes.

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    :zomg: Woah are you saying you were in college all this time? Wow that's really impressive that is. I would have never guess that, just assumed you were working in ib based on your knowledge alone.

    Still your doing pretty well do compared with most students, since you know what you have to do get in etc.... I wish you best of luck in your studies but from the looks of it you won't need it. :top:
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    (Original post by Grimm Reaper)
    :zomg: Woah are you saying you were in college all this time? Wow that's really impressive that is. I would have never guess that, just assumed you were working in ib based on your knowledge alone.

    Still your doing pretty well do compared with most students, since you know what you have to do get in etc.... I wish you best of luck in your studies but from the looks of it you won't need it. :top:
    Indeed. Done a few other things alongside school as well, been a pretty hectic couple years to say the least!

    Cheers very much and likewise to you! If there's anything that I can help out with just PM me

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    (Original post by Princepieman)
    Nah, not a masters just a bachelor's in maths/computer science. An MBA would be an interesting thing to do after some years of working.

    Ahaha, wouldn't say it's easy but we'll have to see how it goes.

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    For you it probably would be easy... I can see you getting every spring week available haha
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    (Original post by Princepieman)
    Ah misread, fair play on that.

    It is possible, just not as common. Tbf, I've actually spoken to someone who studied classics but landed on an exotics desk - guy was very dmart with numbers tho
    Wow that guy must be a genius though. I'm guessing he went to Oxbridge?
 
 
 
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