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Old 08-03-2012, 11:54 PM
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Originally Posted by Advisor View Post
Ok.. here my story.. nothing interesting... you may treat it as a bedtime story.

More than 10 years ago, graduated with an finance degree with good honours, I thought the whole world is at my feet and the same aspirations like trader, fund manager in BB banks come into mind and are as determined as many bros here to break into these sectors... however economy is very bad during that time (from Asian Crisis to 911) and I cannot even find a perm job and end up as a photocopying/faxing boy in BB bank backoffice operations. After which , I move on to another BB bank middle office operation and thought that it is getting closer to FO dream only to find out the "glass ceiling" was unbreakable (else all hell broke lose and every single man in BO and MO will ask to transfer to FO). So this method does NOT work. Still, lots of the bros in BO and MO do not give up and try CFA, CPA, MBA, MFE and whatever you can find to break through the glass ceiling but all resulted in failure (and that was 10 years back when it is slightly easier and some ultra lucky ones really manage to sequeeze through). THen I thought that with the BB name, I can easily get a FO job in a 2nd tier bank e.g Merril Lynch BO to say BNP Paribus trader... that was wrong too and it did not work as well. THat was a great debate then " is it better to do a 1st tier job in a 3rd tier bank or a 3rd tier job in a 1st tier bank ?" and I was a great supporter of the latter because I really thought the brand name will see me through. How naive that is! I forgot the old saying in banking ops " you start in Ops, you rot in Ops". It was after many hard knocks then I appreciate the wisdom of "doing a 1st tier job in a 3rd tier organization" which I did gradually and since then, never leave the dealing room or other FO enviroment..
great story man. my personal advice to those is for those who are asipring to be in FO, are you willing to start low, if say u cannot get into the BBs?

e.g. Ops at foreign bank or even government job has much higher pay than say a trader assistant at an unknown fund.

Are you willing to stomach lower pay while starting out? And no, it is not taken as a certain fact that once u learn FO skills, u can confirm move to FO in BBs. There may be a risk that u may be forever stuck at mediacore funds or small trading houses. I have seen many people with profiles like that.

End of the day depends on what you value and how you see your odds in succeeding. E.g. if u cannot talk well, pls dun go into a sales job. if u are not good in maths, dun go into a quant role, etc.

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