I see, thanks for clearing that up
(Original post by makrxx)
Could you go deeper into what do you do in product control?
In product control, we are responsible for the accounting and financial reporting of trading desks at an investment bank.
(Original post by glebp)
What proportion of your after tax income do you save, % wise? Also if you do save, where do you keep moneys, e.g just under normal interest rate or an index fund/ISA
I don't aim to save a certain percentage but it's around 40%. I invest into a portfolio of index funds and save some of my income in a savings account.
(Original post by ShannyMorrison)
I know this might not be the question you were hoping for (sorry)
but how did you know what you wanted to do with your life career wise? I honestly can't figure myself out!
Actually, this was exactly the sort of questions that I was expecting! I wasn't expecting any technical questions about my job but more questions about figuring out careers and how to find motivation and questions like that.
I chose to study accounting and finance at university because I was always interested in numerical work and the operational side of things- making sure not too much is being spent, making sure everything adds up and spotting mistakes in the calculations. I always enjoyed maths but I wasn't a fan of complex equations and algebra, but more about numbers and applying maths in a business situation. My dad ran a shop and I used to enjoy seeing which products sold better than others and guessing how much profit he'll earn on a day.
During a levels, I chose to study maths, economics and physics, all quite quantitative but I wasn't interested in hard maths but more about economics and especially business economics. I felt that accounting and finance was a degree that fit my interests well.
At university, I was introduced to banking and the financial markets by a friend. Initially I was planning to work at a company in their accounting department but working at a bank in their finance department wasn't something I knew much about. When I looked into it more, I decided that it was more interesting since you're working Ina more fast paced environment where you have to take a lot more things into consideration, such as the potential value of a financial instrument later on in time and you have to work with other groups such as market risk to make sure that traders aren't taking on too much risk. I decided to check it out by applying to a summer internship in the finance division of a couple of banks. A couple offered me an interview, which I prepared for in advance and did well enough in to obtain the internship. I absolutely loved the internship and the work I did, so I immediately accepted the bank's offer for a place on their graduate programme.