Working in the securities industry
DarkProtoman
School Proficency Exam, which allows me to leave high school and go to
community college, where I plan to earn my AS in Economics. I want to
either be an investment banker, research analyst, equities or
derivatives trader/salesman, or a portfolio manager --can you explain
to me the difference b/w a salesman and a trader?--. Would this be a
good resume, educationally wise:
1. AS degree w/ honors in Economics from Cypress College
2. MA in Economics and Management Studies from King's College,
Cambridge OR SB in Economics w/ a minor in Management from MIT
3. PhD in Business Economics from Harvard Business School --do my
dissertation in corporate finance-- OR PhD in Financial Economics from
MIT Sloan School of Management
4. Get my Series 7, Series 86, Series 87, Series 24, and Series 27
licenses
5. Get my CFA and CIC designation.
Would this be looked good upon in an application for a job in one of
the above fields in the financial and securities industry I'm looking
at? Would would be better for each of the above fields --corporate
finance, research analyst, trader/salesman, or portfolio manager--?
How's the pay for each? Like, I want to start out making a $120K
package when I'm still a greenhorn in my field, but once I get
experienced and sucessful --ie ten-twenty years--, I hope to be making
a $800K to a multimillion dollar annual compensation package.
Would I need an MBA if I had a PhD in Business Economics from HBS, b/
c the PhD coursework requires you to take most of the MBA coursework?
Thank you so much!!!!
704set
and others can also respond.
You do not need a PhD in business unless you plan to stay in academia.
A salesman goes out and brings in the business. The trader will implement
the business that the salesman has brought in.
All the Series licenses can only be obtained after you are hired. So they
will not be on your initial resume.
Forget about starting at $120,000 salary. You just want to get your foot in
the door any way you can. Do anything! Once you are in, then you can start
making contacts that will help you toward your goals. The industry is going
through consolidation. That means you are competing with a lot of good
traders and salesmen who are also out looking for jobs.
It will be discouraging at times, but never give up. Once in and given the
secret handshake, the world is your oyster.
704set
"DarkProtoman" <Protom...@gmail.com> wrote in message
news:1186875963....@l22g2000prc.googlegroups.com...
Blash
DarkProtoman at Protom...@gmail.com wrote on 8/11/07 7:46 PM:
You're never going to get anywhere until you learn that you don't know
everything......Believe me.....you are NOT so smart that you are qualified
to belittle people like Warren Buffett.
i.e.
<<Come on, Mr. Buffet, it just takes a couple hours --or a couple
minutes each day-- to read Thomsett's "Options Trading for the
Conservative Investor: Increasing Profits Without Increasing Your
Risk". Writing put options to acquire stock --or writing call options
on shares you already own-- is the most conservative option strategy
ever devised --except possibly a box spread, but we'll leave that to
the quants and floor traders--. You can increase your returns,
decrease your risk, and still follow your value investing strategy.
Write naked put options to buy value stocks at a discount --and get
some current income while at it--, and write covered call options to
turn your value stocks into ATMs --you're basically getting a
synthetic dividend--. Doing that --writing naked puts and covered
calls--, you're not really speculating, you're acting more like an
insurance underwriter, taking a calculated risk to get an income.>>
DarkProtoman
> in article 1186875963.659044.51...@l22g2000prc.googlegroups.com,
> DarkProtoman at Protoman2...@gmail.com wrote on 8/11/07 7:46 PM:
>
> - Show quoted text -
OK, I was a little hot under the collar when I wrote that...OK, a lot.
Let's put this behind us.
OK, I've got a friend across the street, Nico, who's an investment
banker. Maybe I could get an internship as a filing clerk --in the I-
banking or research dept.-- or order ticket writer --in the trading
desk or sales dept.-- at his firm.
What would be a normal, entry level salary for a analyst in the I-
banking, trading, or sales department or a research associate in the
research department. Do traders need their Series 55 license as well
as their Series 7? What licenses do you need if you want to work at
the equities or derivatives trading desk?
Would the PhD in Business Economics w/ a PhD minor in financial
mathematics help me if I choose to go into the research department or
work at the derivatives trading desk?
Thanks!!!
Pies de Arcilla
> I'm a 16yr old in California, and I've passed the California High
> School Proficency Exam, which allows me to leave high school
You said earlier "I've got a job as an analyst in the global
investment banking division of Merrill Lynch. I'm earning my MBA on
the weekends." So now you are asking for advice on how to get that
job? Because you are travelling backwards in time?
Blash
> OK, I've got a friend across the street, Nico, who's an investment
> banker. Maybe I could get an internship as a filing clerk --in the I-
> banking or research dept.-- or order ticket writer --in the trading
> desk or sales dept.-- at his firm.
Unless you plan to get all this schooling at night, when would you plan
to work???
> What would be a normal, entry level salary for a analyst in the I-
> banking, trading, or sales department or a research associate in the
> research department.
When your first questions are about salary, perks, etc. you'll probably
have your application in the circular file before you're out the door......
> Do traders need their Series 55 license as well
> as their Series 7? What licenses do you need if you want to work at
> the equities or derivatives trading desk?
You can't take any tests until you're 21.......who knows what the laws
will be in 5 years???
> Would the PhD in Business Economics w/ a PhD minor in financial
> mathematics help me if I choose to go into the research department or
> work at the derivatives trading desk?
Common sense is the #1 qualification......There will be a lot of PhDs in
Business Economics w/ a PhD minor in financial mathematics in the
unemployment lines after this sub-prime debacle settles down......
Blash
Do you remember jason or sarp from the recent past???
They had troubles keeping their stories straight too........
This is beginning to sound like a re-incarnation.......