Saturday, November 20, 2010

How To Become A Proprietary Trader

This is a high-risk job but one of the best paid in the world. See if I can lure you into this job.

You can’t be a prop trader direct from college. You need to spend about 10 years in the trading floor before you qualify for the job. But everything has a start, if you don’t start, you’ll never be there.

Let’s start with the trading room.

First of all, click the link here to gain an idea of a trading room set up.

OK, now you have an initial idea of how a trading room looks like. But those photos are only from a training trading room at Hofstra University. We shall look at a trading room in the real world in my next post.

No matter what kind of trade you are going to do, a trading room is where you need to spend most of your work hours. Do try to get a sense of feeling of working in such an environment.

I shall talk more about how to become a Proprietary Trader in my next post.

Investment Banking Career

Tuesday, November 2, 2010

IB Salary in Asia

My IB salary post has generated a lot of feedbacks. Let me talk more about the money making potential in Asia for investment bankers.

Beginning 2010, top bankers in Asia are taking home similar amount of money at the 2007 pre-crisis level, and in some cases exceeding it.

A shortage of talent combined with competition among rival banks in Asia prompted many institutions to make lucrative offers. I’m seeing more and more multi-million dollar deals plus the return of sign-on bonuses. Of course star bankers benefit the most.

For junior bankers, it’s time to set your feet in this fast-pace highly competitive market and prepare yourself to be a star of tomorrow.

Citigroup, Bank of America Merrill Lynch and UBS are actively seeking to build their staff bases in Asia. Banks need to bench-strengthen their teams. Don’t forget to watch out for their intern programs in Asia, especially China, Hong Kong and Australia, whose economies sailed through the downturn.

Investment Banking Salary