How to Become a Wall Street Trader

Member

By Jesse Schmitt
User-Submitted Article

Article Rating:

(19 Ratings)

While the world is in tumult and there seems to be no end in sight, we all should take a step back, look at what we are doing in our lives, and pose the question: Is this really all there is? While now is not the time to quit your job, per se, it may be a good time to put a plan in place that can get you on the road to where you want to be. If you want to know about what really goes on in Wall Street, why not become a Wall Street trader?

Difficulty: Challenging

Instructions

Things You'll Need:

interest
time
money
passion
mba

Step 1

The Facts: First of all, from all accounts I’ve seen, ‘becoming’ a Wall Street floor trader is not as easy as all that. Many of the people who are on the Street, trading, are the same ones who have been doing it for some time. Also, being a trader on Wall Street, for most people is not a destination. That is, some people do it, and love it, but most people don’t graduate to trader, it’s one path along the way. So if you are going to become a Wall Street trader, do it early on in your career.
Step 2

Qualifications: You should have an understanding of the markets, you should have an area of interest (M&A, credit derivatives, mortgage-backed securities, etc) and you should have an MBA. That’s the new hurdle you’ve got to leap through to get yourself on the floor. Many people, after attainting an MBA decide they want to do something else. That’s fine. But if you are looking to experience the trading end of the business, then you should have an MBA.
Step 3

Breaking In: How does one break into becoming a Wall Street trader? Well you need to work for someone with a presence on Wall Street or you need to have a lot of money of your own invested on Wall Street. While most of us are not in the latter category, getting an entry level job, running around Wall Street with a big corporation is a regular enough occurrence. So get on that MBA and then send out your resume!
Step 4

The Truth: The real fact of the matter is that most MBA candidates are offered a more appealing job than an entry level post as a trader on Wall Street. However for some the thrill of being in the midst of all that money making outweighs financial concerns. And that’s really the reason that any of us should take any job, right? Because it’s something we’re passionate about. So if you’re young or looking for something more personally fulfilling, why not dive into becoming a Wall Street trader?

Comments

amysmarts said

Flag This Comment

on 10/10/2009 Great article on how to become a wall street trader. This is all great advice and will be helpful to a lot of people. Thanks.

1silversurfer said

on 9/17/2009 Thanks for the information. I will recommend you.

femwriter said

on 9/14/2009 This is a very informative article on how to become a Wall Street Trader. Thanks for sharing this piece of writing. 5* plus recommendation!