Thursday, May 10, 2007

Investment Banking Career – Entry Level Jobs IV

More on Sales, Trading and Research

Entry level jobs for graduates are widely available in sales, trading and research at various divisions of an investment bank. The investment banking career sites that I list on the right hand side of this blog, contain very valuable information. These banks all provide very professional internship training to undergraduates. Please do browse these career sites whenever you have a moment.

Bank of America
Today I would want to walk you through Bank of America.

Quote from Bank of America:

We look for both traditional and non-traditional candidates and encourage candidates of all majors and backgrounds to apply. The one requirement for all: demonstrated superior academic achievement.

Qualifications That BoA Want for Sales, Trading and Research
Candidates must demonstrate a combination of academic aptitude, quantitative skills, strategic and creative thinking, and distinguished written and verbal communication skills. Analysts are required to manage several projects at once and work effectively as an individual and as part of a team. Some common driving characteristics we look for:
* Assertiveness
* Attention to detail
* Exceptional academic achievement
* Initiative, team focus
* Intensity and a passion for the markets
* Leadership, self–confidence
* Strategic and creative thinking capabilities
* Strong work ethic
* Strong communication skills
* Dedication to a career in global markets
Source: Bank of America

Traders’ life: I can’t reiterate more, you have to work for long hours as an investment banker. Be prepared to start work as early as 6.30am and work hard continuously for at least 12 hours a day. When a deal is on going, you might need to stay at work round the clock. One of my candidates didn’t show up for a breakfast interview for such reason. He didn’t even notify me or the client, as he was just unable to.

Let’s look at a typical day of a trader.
BoA’s website does not allow a direct link, therefore, click the above link and follow this route:
U.S. Full-Time Analyst / Sales & Trading / Day in the Life

Meet Ali, currently a
trader at Bank of America, graduated in 2005 – share his thoughts of working for Bank of America.

Again, BoA’s website does not allow a direct link, therefore, click the above link and follow this route:
U.S. Full-Time Analyst / Sales & Trading / Profile / Ali

Test of Your Investment Knowledge
What is proprietary trading?

Proprietary trading is a term used in investment banking to describe when the firm's traders actively trade stocks, bonds, options, commodities, or other items with its own money as opposed to its customers' money, so as to make a profit for itself.

You would need to be an experienced trader before you can do proprietary trading. Proprietary traders can make lots of money for the bank as well as for themselves. On the contrary, they can also jeopardize the bank. In 1995, Nicholas Leeson, former derivatives trader whose unsupervised speculative trading caused the collapse of Barings Bank, the UK's oldest investment bank. Read more.

Do you want to be a trader? Take a FREE career test!

Investment banking career

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