Hey there! Sign in to join this conversationNew here? Join for free

Do traders/salespeople get vacation time? Watch

Announcements
    • Thread Starter
    Offline

    20
    ReputationRep:
    Since the markets operate pretty much everyday except weekends and bank holidays, do traders not get any vacation time? But the UK requires that employees receive 1 or 2 weeks of vacation time unless they're self-employed, so how do banks deal with this?
    Offline

    17
    ReputationRep:
    (Original post by Ladbants)
    Since the markets operate pretty much everyday except weekends and bank holidays, do traders not get any vacation time? But the UK requires that employees receive 1 or 2 weeks of vacation time unless they're self-employed, so how do banks deal with this?
    they probably don't let all their employees take holidays at once. hope that helps
    Offline

    20
    ReputationRep:
    I think traders are loathed to leave the floor to go for a piss, never mind have a week off. There's exemptions to the working time directive, and banks make full use of them in their contracts. I don't know a singe trader who's had any more than one or two days off a year plus Christmas Day - that's how the job works. Put it this way, I have friends who work at Goldman's and UBS and the notion of a 'holiday' is something alien to them.
    Offline

    1
    ReputationRep:
    Yes, obviously they get vacation time. Hence why markets are quiet in August. All you have is the computers trading with each other and the odd retail investor.
    Offline

    3
    ReputationRep:
    When they are on holiday they are trading too
    Online

    0
    ReputationRep:
    (Original post by Reality Check)
    I think traders are loathed to leave the floor to go for a piss, never mind have a week off. There's exemptions to the working time directive, and banks make full use of them in their contracts. I don't know a singe trader who's had any more than one or two days off a year plus Christmas Day - that's how the job works.
    I think if you had just said "I don't know a single trader" your post would've been more accurate.
    Offline

    20
    ReputationRep:
    (Original post by ib101)
    I think if you had just said "I don't know a single trader" your post would've been more accurate.
    Silly boy.
    Offline

    2
    ReputationRep:
    I doubt a VP or MD can take vacation ion time when they're in charge of trading a specific product.
    • Thread Starter
    Offline

    20
    ReputationRep:
    Coolio, thanks guys
    Maybe a career in trading is not for me. The long hours I'm fine with but I do need some time to unwind and go on short vacations. Maybe something like asset management, still a young guy so have time to make a decision
    Offline

    3
    ReputationRep:
    You sound like the sort of person who believes his maximum sick day limit should be taken whether sick or not.
    Offline

    20
    ReputationRep:
    yes they do (compulsory in uk office), it is a legal requirement
    Offline

    3
    ReputationRep:
    (Original post by Ladbants)
    Coolio, thanks guys
    Maybe a career in trading is not for me. The long hours I'm fine with but I do need some time to unwind and go on short vacations. Maybe something like asset management, still a young guy so have time to make a decision
    In IB the hours are so very long (18 hours) so maybe look at other divisions?

    I'm sure you could take a short vacation, maybe a weekend? only if you don't have an important deal or trades to execute for important clients
    Offline

    10
    ReputationRep:
    Traders DO get vacations and their work hours are not long at all. Most are gone by 6 (some exceptions due to desk regions). They do 12 hrs (from 6 to 6) but they are quite independent in my opinion. Before anyone disagrees, i worked on the trading floor alongside traders for the past year.


    Posted from TSR Mobile
    • TSR Support Team
    Offline

    19
    ReputationRep:
    It's compulsory to give 25+ days off in the UK, they can't not get vacation. All that happens is teams shift around to accommodate, markets die down at certain times of the year etc.

    Not all traders/salespeople are glued to their desks either, very much depends on the client flow/market activity that day and the product.

    Posted from TSR Mobile
    Offline

    2
    ReputationRep:
    (Original post by Princepieman)
    It's compulsory to give 25+ days off in the UK, they can't not get vacation. All that happens is teams shift around to accommodate, markets die down at certain times of the year etc.

    Not all traders/salespeople are glued to their desks either, very much depends on the client flow/market activity that day and the product.

    Posted from TSR Mobile
    But I'm guessing that they would be encouraged not to actually take those days off. At least that's what I heard happens in Singapore
    • TSR Support Team
    Offline

    19
    ReputationRep:
    (Original post by biglad2k16)
    But I'm guessing that they would be encouraged not to actually take those days off. At least that's what I heard happens in Singapore
    Nah, the UK is different

    Posted from TSR Mobile
    Offline

    2
    ReputationRep:
    Yes they do, 3 weeks
    Offline

    8
    ReputationRep:
    They do technically get them but you can't really expect to be promoted if you're taking your full vacation time, at least in London
    Offline

    10
    ReputationRep:
    (Original post by grabembythepussy)
    They do technically get them but you can't really expect to be promoted if you're taking your full vacation time, at least in London
    You need to get at least two weeks in one go so that if you are running a scheme it will be picked up by someone and reported. Not sure if this was only policy at my bb or it is nationwide regulation


    Posted from TSR Mobile
 
 
 
Reply
Submit reply
TSR Support Team

We have a brilliant team of more than 60 Support Team members looking after discussions on The Student Room, helping to make it a fun, safe and useful place to hang out.

Updated: October 9, 2016
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • Poll
    Should Spain allow Catalonia to declare independence?
    Useful resources

    Articles:

    Guide to investment bankingGuide to consultancy

    Featured recruiter profiles:

    Deutsche Bank logo

    Deutsche Bank is recruiting

    "Thrive in an international banking environment"

    Quick link:

    Unanswered investment banking and consultancy threads

    Groups associated with this forum:

    View associated groups
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

    Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

    Quick reply
    Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.