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GUEST COMMENT: How to become a bond trader after giving up on the City and going to work in the Midlands

I'm on my way to becoming a bond trader. It's what I've always wanted to do. However, there was a time when I gave up entirely.

While I was still at university, I underwent an internship in an investment bank so unendurable that I walked out halfway through.

At that stage, I was sick of the City. I decided to move back to the Midlands. As you will know, there are no front office roles here: my skills weren't worth a penny. Instead, I found job working for the outsourced operations of an investment bank, and did a bit of temping. It was fine for a while, until I got bored.

The reality was that during my internship I loved the excitement and thrill of working in the front office, I just didn't like the way I was treated by other staff.

I decided to move on. I left my temping job and joined a global insurance firm's investment accounting team. They looked after the accounting side of equity investments, which were funded through bonds sold via retail banks and IFAs. As a result, I began to learn a bit more about bonds.

Shortly after that, I decided to study for the exams run by the Chartered Institute of Securities & Investment. I had to fund myself as the firm I was working for didn't consider them relevant to my role.

Once I'd passed these, I moved to a large private client investment management firm as an investment assistant. I spent a year in this role. Fortunately for me, this firm had a corporate advisory division which provided services such as M&A, research, and sales and trading. I networked, and got to know some people on the sales and trading team.

As the team's small, opportunities to move into trading occur rarely. I offered to take a desk assistant role, where I'd be doing admin duties. They accepted, and after six months, of admin, an associate left. Instead of replacing him with a junior associate, they decided to promote an existing analyst and elevate me to a junior analyst position. I now provide the team with up to date news on the bond market and analyse spreads for any arbitrage opportunities.

I'm not fully trading yet, but am on my way there. Bonuses won't be like a top tier bank but the team I work with now, many of whom come from the sales and trading divisions of top tier banks, are supportive. In retrospect, I really wouldn't have done it any other way.

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AUTHORAnonymous Insider Comment
  • Ma
    Macca
    6 April 2016

    Good for you, I worked various trade support jobs and as a traders assistant with a hedge fund. 2008 was fun. Interviewed for a bond sales role, lost out to a teenager with academic prowess and a snotty nose. Moved into oil and gas, im the sales/bd director for an oil company in the middle east, bores the knackers off of me. Would love to move back into a market facing role. I joined the army from school and didnt hit uni, shame on me for hitting life head on. Very hard to get to where you want to be without the academics regardless of aptitude. Like you ill have to seek an alternative route. All the best to you! And I say jajajajajajajajjaja, its German...!!!

  • ha
    hahaha
    17 September 2010

    jajaja means they are Spanish-speaking and they want to express laughter

  • Ar
    Ari
    16 September 2010

    For all who say "jajajaja"- I think they try very hard to justify their miserable life by the amount of money they make. I used to be a trader and I hated the people in the front office from the core of my heart. They are a bunch of narcissists who try to justify their very existence by the amount of money they have in their banks. Thankfully, for me that wasn't very important. I joined my family business and though I am earning much less than what I used to I am very happy. I get to sleep for 8 hours vs. the 4 hour tensed sleep while I was in FO and the team I work with is much friendlier and jovial as compared to the sullen faces I had to look at every morning.
    My life is very good and I wouldn't have bartered this for the millions of the miserable FO traders.

    To the Midland guy - All the best for your future.

  • Al
    AliDesai
    16 September 2010

    @Ali Desai 2 - I too was worried about being able to move out but decided that life in a small provincial town was not so bad after all. I am the only Ali Desai who lives here and all my neighbours, including Charlie who used to work for Goldman, give me a cheery wave every morning. In the evenings, we all meet at the local where the landlord knows all of us by name. So perhaps you should consider moving to a small provincial town.

  • Fo
    F oFF
    16 September 2010

    I think people who say "jajaajajaja" are fat morons

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