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    Say you were a trader at a bulge bracket bank with an econ degree and your job just got replaced by an algorithm- what should you do? What can you do? With banking, I know that one would build strong financial modelling and useful business skills so they can go into consulting or private equity and other exit oops. But for trading there aren't any exit opps when the job gets replaced by algorithms. So what can a trader do?

    And how can one not lose their job as a trader assuming they did a econ degree and not a STEM degree?
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    Learn C++ and Python whilst studying part-time for a PhD in Comp Sci/Maths or become a cuck

    or trade exotics where liquidity is low
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    Maybe go into a business school, MBA then do some thing else
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    (Original post by inspiringtop123)
    Say you were a trader at a bulge bracket bank with an econ degree and your job just got replaced by an algorithm- what should you do? What can you do? With banking, I know that one would build strong financial modelling and useful business skills so they can go into consulting or private equity and other exit oops. But for trading there aren't any exit opps when the job gets replaced by algorithms. So what can a trader do?

    And how can one not lose their job as a trader assuming they did a econ degree and not a STEM degree?
    They can't go into PE, consulting with a focus on financial services is possible however.

    Really, depends on what they're interested in, maybe B-school to reset. Maybe a different career altogether, maybe they learn to code, maybe they move to a hedge fund.

    The most likely outcome is moving into sales, which many burnt out traders do as is.

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    And yet people still go into trading without caring about the future... actually unbelievable
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    (Original post by cashcash871)
    And yet people still go into trading without caring about the future... actually unbelievable
    Not all trading can or will be automated in our lifetimes

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    (Original post by Princepieman)
    Not all trading can or will be automated in our lifetimes

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    I know but banks are still hiring some vanilla rates and other vanilla product traders who will probably lose their jobs in a few years. Perhaps the exotic derivatives traders have a chance but there aren't many of them getting hired
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    (Original post by cashcash871)
    I know but banks are still hiring some vanilla rates and other vanilla product traders who will probably lose their jobs in a few years. Perhaps the exotic derivatives traders have a chance but there aren't many of them getting hired
    Nah, depends on the vanilla product. FX isn't going anywhere anytime soon for instance, nor is commods.

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    (Original post by Princepieman)
    Nah, depends on the vanilla product. FX isn't going anywhere anytime soon for instance, nor is commods.

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    But surely fx will be easy to automate since it's a simple, liquid product?
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    (Original post by cashcash871)
    But surely fx will be easy to automate since it's a simple, liquid product?
    Yeah but there aren't any exchanges to camp algos in

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    (Original post by cashcash871)
    But surely fx will be easy to automate since it's a simple, liquid product?
    http://news.efinancialcareers.com/uk...y-mckinsey-co/

    That shows which desks will likely be automated and which won't. It's a lot worse than you think
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    (Original post by Trapz99)
    http://news.efinancialcareers.com/uk...y-mckinsey-co/

    That shows which desks will likely be automated and which won't. It's a lot worse than you think
    Lol these traders are ****ed
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    Join a trade union and a job agency
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    (Original post by Princepieman)
    They can't go into PE, consulting with a focus on financial services is possible however.

    Really, depends on what they're interested in, maybe B-school to reset. Maybe a different career altogether, maybe they learn to code, maybe they move to a hedge fund.

    The most likely outcome is moving into sales, which many burnt out traders do as is.

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    Coolio, thanks
 
 
 
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