The Student Room Group

Best way to get into Sales and Trading? Law grad

So, I graduated with a 2.1 from Newcastle University in Law last month and I realised last year that I want to pursue a career in banking, specifically trading. I don't have much experience at all and I am not sure if my degree or course will be much use since it is very competitive. My experience is limited to a mini-pupillage, running a affiliate marketing venture for 3 years with 2 years during university (PPC) and some voluntary charity work. I also helped to co-ordinate the University's annual charity fashion show and helped to co-ordinate a development programme for disadvantage local 16 year olds.

None of this really stands out and that is the problem I am having, I am not really a strong candidate. I really need more financial related experience to talk about other than my sales experience with marketing.

What would your advice to me be on what I should do to give myself a better chance... do i have much of a chance at all?
Reply 1
Would really appreciate the help. You would win a friend for life.

2005_07_21_shrek_cat1.jpg
Reply 2
What are your A levels?
Do a masters at a more "target" uni, get involved in everything societies etc. You then have more of a chance. Atm it's looking bleak.
Reply 4
Well if you don't have at least ABB/AAB at A levels, then you will not be able to get into a bank. In which case it is pointless obtaining an expensive masters degree over work experience. If you do have the minimum grades, the best thing to do is network if you want to work in a bank somehow and undertake a masters if affordable - but this may be to no avail. The other options are to apply for IDBs and move sideways, or trade support roles in the buy-side, or just to go into prop trading.

You haven't mentioned what you want to trade. What asset class are you interested in?

In order to stand out, yes, you'll need some financial experience - if you're really into markets I would suggest starting a blog or trading your own account if you have some money set aside.

But for your average guy, it's hard to afford the masters and/or trade on your own - so i'd look at doing some prop trading work at the very least.
Reply 5
Original post by ss281
What are your A levels?


I got ABB, its minimal, but i was very ill in my 2 years at A2. Not that it matters, but at least I have the requirement... i think.
I also want to get into prop trading specifically FOREX. ive been practising for a few years on demo accounts and i have A*AAA grades at a-level.

anyone know how to break into this area ?
Reply 7
Original post by ss281
Well if you don't have at least ABB/AAB at A levels, then you will not be able to get into a bank. In which case it is pointless obtaining an expensive masters degree over work experience. If you do have the minimum grades, the best thing to do is network if you want to work in a bank somehow and undertake a masters if affordable - but this may be to no avail. The other options are to apply for IDBs and move sideways, or trade support roles in the buy-side, or just to go into prop trading.

You haven't mentioned what you want to trade. What asset class are you interested in?

In order to stand out, yes, you'll need some financial experience - if you're really into markets I would suggest starting a blog or trading your own account if you have some money set aside.

But for your average guy, it's hard to afford the masters and/or trade on your own - so i'd look at doing some prop trading work at the very least.


I want to work in selling equity and equity-related products.

And ****, ****... and ****. So, my degree is effectively worthless and I need to get some big financial experience and networks asap. Great. I am not fully keen on a masters although i have been considering LSE's Economic History degree. It's more something I want to do further down the line when I have some more money instead of asking for family to foot the bill, I had hoped to do the Oxford MBA instead later down the line.

But things are looking pretty damn bleak at the moment.
Reply 8
Original post by Astarplease01
I also want to get into prop trading specifically FOREX. ive been practising for a few years on demo accounts and i have A*AAA grades at a-level.

anyone know how to break into this area ?


No offence, but can't you start your own thread?
Original post by Mr_Vain
No offence, but can't you start your own thread?


why?
Reply 10
Original post by Astarplease01
why?


Because I don't want this thread to turn into a discussion about your credentials, that was not the purpose of the thread.
It wont turn into a discussion about my credentials.

the question i posted "anyone know how to break into this area" is relevant to you and me.

your just jealous of my credentials thats why you're getting butthurt.
Reply 12
Original post by Astarplease01
It wont turn into a discussion about my credentials.

the question i posted "anyone know how to break into this area" is relevant to you and me.

your just jealous of my credentials thats why you're getting butthurt.


You've got decent grades but so have a lot of people. Your grades have no effect on whether I get a job or not, you're just another of the tonnes who have similar grades as you. I am not a jealous person, I am just intolerant of rude people who think they can shout when all they're qualified to do is talk.
I would cut the entitlement complex though, I can't imagine it'll help. You can't just butt into other people's conversations, internet or not.

And before you start with the misc bull****, i was the biggest miscer on here. Real life set in though and i have to think about maturing and getting on in life.
(edited 10 years ago)
its a forum anyone can post what they like :/
Reply 14
Original post by Astarplease01
its a forum anyone can post what they like :/


Yes, you can. But don't expect others to take kindly to everything you say, I think etiquette should still apply. I.e. Not butting into the important conversations of others. And anyway, isn't it quite obvious now what the answer to this thread is? Get exceptional experience and grades or you are ****ed. Perform admirably in the internship at all times or you're ****ed.
Reply 15
Mr_Vain: I did LSE econ history, it won't helpbut LSE's name will help. For cash equities you don't need a math background, for equity derivatives you might need one. Just apply to interdealer brokers, dealers etc. I don't think you'll get a bulge grad position but you never know - probably better to apply for sales roles. You can try for internship but you need to be studying to do this.
Astarplease01: Apply to Optiver, Tibra, IMC and Flow Traders for salaried prop trading. Go to Futex etc for prop trading which is commission based.

Disclosure: I'm also looking to get into trading but haven't had much luck yet.
Reply 16
Original post by ss281
Mr_Vain: I did LSE econ history, it won't helpbut LSE's name will help. For cash equities you don't need a math background, for equity derivatives you might need one. Just apply to interdealer brokers, dealers etc. I don't think you'll get a bulge grad position but you never know - probably better to apply for sales roles. You can try for internship but you need to be studying to do this.
Astarplease01: Apply to Optiver, Tibra, IMC and Flow Traders for salaried prop trading. Go to Futex etc for prop trading which is commission based.

Disclosure: I'm also looking to get into trading but haven't had much luck yet.


Hello, and thank you for the insight. I am just worried about it all to be honest; and I never usually worry about anything.
If you have a similar experience to me, then i really do feel sympathy (and for other grads going through hard times also). It just seems like I worked hard for my degree just for another HR tick in the box... except, i am not even getting a tick now just a cross and a "Next...".

I am not sure the LSE Economic History investment is going to be right for me. For a start I am not so sure I will do well with the degree, that is not a guarantee at all. Added with that is the extra time out of graduate employment.

Have you considered going for the grad schemes of the big 4 consultancies and then possibly going into banking as an experienced hire further down the line? I am considering making a success of my career (hopefully, and I think I can do it if I get the chance) and then paying for an Oxford MBA which will open more doors worldwide.

Certainly it is nice (well, obviously not nice ha) knowing that others are in the same boat.
Original post by ss281
Mr_Vain: I did LSE econ history, it won't helpbut LSE's name will help. For cash equities you don't need a math background, for equity derivatives you might need one. Just apply to interdealer brokers, dealers etc. I don't think you'll get a bulge grad position but you never know - probably better to apply for sales roles. You can try for internship but you need to be studying to do this.
Astarplease01: Apply to Optiver, Tibra, IMC and Flow Traders for salaried prop trading. Go to Futex etc for prop trading which is commission based.

Disclosure: I'm also looking to get into trading but haven't had much luck yet.


Sweet man.. thanks
Reply 18
Original post by Mr_Vain
Hello, and thank you for the insight. I am just worried about it all to be honest; and I never usually worry about anything.
If you have a similar experience to me, then i really do feel sympathy (and for other grads going through hard times also). It just seems like I worked hard for my degree just for another HR tick in the box... except, i am not even getting a tick now just a cross and a "Next...".

I am not sure the LSE Economic History investment is going to be right for me. For a start I am not so sure I will do well with the degree, that is not a guarantee at all. Added with that is the extra time out of graduate employment.

Have you considered going for the grad schemes of the big 4 consultancies and then possibly going into banking as an experienced hire further down the line? I am considering making a success of my career (hopefully, and I think I can do it if I get the chance) and then paying for an Oxford MBA which will open more doors worldwide.

Certainly it is nice (well, obviously not nice ha) knowing that others are in the same boat.


I am not going down the Big 4 route for a couple reasons that I won't disclose - but I think Big 4 is nice though if you can get an ACCA or ACA - it's going to help for
1) equity research --> which can lead to equity sales/trading roles
2) m&a, dcm, ecm roles --> which can lead to hedge fund or PE/VC firm roles
3) hedge funds looking for part-qualified accountants (a lot seem to be looking for this).

The downside is auditing is quite boring, but the other upside is that Big 4 social life is presumably going to be good, and given that you get so much time of to study you actually make decent £££ given the amount of time you actually do work. Additionally Big 4 name is very valuable.

In addition, it's relatively simple to get a Big 4 position - as long as you can pass the tests, you're half way there.

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