How do I become a day trader for a bank?

Many firms require their day traders to have undergraduate degrees in finance, mathematics, and accounting. However, there are no formal academic requirements to qualify a trader. Most trading firms require their traders to hold the Financial Industry Regulatory Authority (FINRA) Series 7 and 63 licenses.

Is trading well paid?

Traders are amongst the best paid finance professionals. Across every single trading desk, traders receive bonuses that range from 40\% (repo traders) to 113\% of their annual salary (flow rates traders).

What is it like to work in sales and trading?

Unlike investment banking which is very hierarchical, sales and trading has a very flat organizational structure. In sales and trading, you sit within your asset class and role. I sat beside my managing directors (MDs) and they knew what I ate for lunch, what I was working on, and which friends I was chatting to.

What do bankers learn in a career?

Over time, bankers will learn a lot about the various industries that they cover. Sure, management consultants do this too, but their area of specialisation is usually restricted to one particular sector. As a banker, you can move from telecom to auto to even eCommerce over the course of your career.

What is the difference between investment banking and sales and trading?

While investment banking generally has two separate streams with analysts being pre-MBA students and associates being post-MBA. In sales and trading, an MBA is generally not required and progressing from analyst to associate and then onto VP is quite common. Ace your Sales and Trading Interview!

What is the networking like in investment banking?

The article about investment banking networking also applies to sales & trading. However, there are a few differences: Do NOT bother traders or salespeople during market hours, and especially not around market open or close. It’s best to ask for informational interviews 1-2 hours after the close, or, in London, go for after-work drinks.