Working in Sales and Trading

Working in Sales & Trading
featuring:
MJ
Former Prop Trader at
Hosted by:
Caitlin Quan
Evisors Marketing & Operations Associate
Hosted by: Career Advisors on Demand..com/webinars

Agenda
About M.J.
Targeting the Job
Getting the Job
Succeeding as a Practitioner
Q&A

About M.J.
• Cleveland, OH native
• Case Western Reserve University Undergraduate
• Weatherhead School of Management for Business School
• Began career as a Management Consultant at IBM
Consulting Group (now PwC)
• Merrill Lynch Business Manager
• Masters in Quantitative Methods, Columbia University
• Merrill Lynch Fixed Income Institutional Sales
• Merrill Lynch/Bank of America Proprietary Trader
• Independent Proprietary Trader
• Interests: Boxing, Triathlon, Dog Rescue

Sales and Trading Careers
About M.J.
Targeting the Job
Getting the Job
Q&A

Sales and Trading Careers
“Institutional”
• Goldman Sachs
• J.P. Morgan
• Morgan Stanley
• Deutsche Bank
• Bank of America/ML
• Barclays
• Citigroup
• Credit Suisse
• UBS
Retail/”Mom & Pop”
• Too many…
“Middle-Market”
• Wells Fargo / Wachovia
• Jefferies
• RBC
• RBS
• BNP Paribas
• More…
“Wall Street” “Off Wall Street” Retail

How to Research the Industry
• Classmates, alumni, family
• Company website
• Vault Guides
• Wetfeet guide
• Career Services and Clubs
• Regional conferences and networking events
• Books, not movies
• External news source
– Wall Street Journal
– Financial Times
– Bloomberg
– CNBC

What are Firms Looking For?
• A habit of excellence and impact
• Evidence of strong leadership capability
• Ability to be a team player
• Facility with analytics and critical thinking
• Strong communication skills for client leadership
• Relationship management skills
• A proactive disposition
• For lateral moves:
– Industry veteran
– Business School
– Open a demo trading account and prove you are good at this
– Professional designations like the CFA, CMT, etc. Can help
– Fresh, creative thinking

Recruiting Checklist
• Cast a wide net
• Choose the “right” size of bank
• Show your leadership…in a very humble way
• Get on the “high-potential” list
• Attend every event to indicate strong interest (and
make the recruiting/interview process more personal)
• Send thoughtful, personal thank-you notes to those
you meet…and then FOLLOW UP to deepen the
relationship
• Be open to back-office or support positions
• Consider every interaction an interview
Hosted by:See the rest at evisors.com/webinars/webinar/62

Finance: Sales and Trading careers
About M.J.
Targeting the Job
Getting the Job
Q&A

Resumes and Cover Letters
• A flawless resume
– What differentiates you? How are you distinctive? (hint:
compare yourself to others)
– What impact and specific results have you had? (hint:
reference numbers)
– How have you out-performed others?
– Flawless formatting, spelling, and grammar
– Multiple revisions and reviews
• A compelling cover letter
– 1st paragraph: The firm: why are you personally interested?
– 2nd paragraph: You: why are you a great candidate than
someone else (NOT a repeat of resume)
– 3rd paragraph: what are you going to bring to the firm, and Ask

What to Expect in the Interview
• 1st Round: on-campus for target schools; phone
screening for non-target schools
• Final rounds in-person, usually a 45-minute 1-on-1
behavioral and case interview
• Fit/Behavioral questions
– Walk me through your resume
– Why do you want a job in finance? Why our company?
– Tell me about a time when…be ready for the drilling!
– What questions do you have for me?
• Two things not to forget: Up on news & and a
immediate thank-you

What to Expect in the Interview: Industry
• Is completely dependent on your interviewer
• How much do you know about the industry?
• How much effort do you put into the industry?
• Know about the biggest global issues and the
implications of different scenarios
• Know about regulation and how it could affect the
industry
• Know about the company’s different customer
segments and their interests

• Be proactive and forward-thinking – see big picture and
go above and beyond to help achieve it
• Find the right coattails
• Don’t just put in face time, put in real time
• Network broadly and intentionally – learn something
about every dept/desk at your firm
• Become immediately proficient with analytical tools
• Lead an “extracurricular”
• Send relevant news tidbits to team
• Step up. Volunteer to fill in for someone whenever
someone is out

Questions & Answers

Questions & Answers
Question 1:
Can you still apply to banks if you didn`t get
in through on-campus recruiting?
Hosted by:See the answer at evisors.com/webinars/webinar/62

Questions & Answers
Question 2:
What is your perspective on networking
through social media?

Questions & Answers
Question 3:
What is your opinion when researching
global topics? Should you focus more on
depth or breadth of knowledge?

Questions & Answers
Question 4:
What is a typical day like in a sales/trading
firm?

Connect
Book your session with MJ at:
www.evisors.com/expert/1661
She can help you with:
• Finance Informational Interview
• Finance Resume & Cover Letters
• Finance Interview Practice
…and more!
MJ
Former Prop Trader at

Working in Sales and Trading

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