10 Weeks
It’s been ten weeks since I made my entrance into the “real world” of finance. I guess I had no expectations (other then working long hours) so I went in with an open mind.
First off, working on a trading floor is most definitely exciting. Its never quiet, there’s always this hum of activity (especially as it gets closer to the close of the market) and salespeople and traders are constantly yelling quotes and orders across the floor at each other. The group I am with (the Middle Office) is basically a buffer between the traders and the back office (where the order processing gets done). We handle risk, profit and loss, booking trades, keeping the risk models updated, and assisting the traders. I have done projects ranging from building Excel spreadsheets to update themselves with P/L figures (with macros) to PowerPoint presentations on ETFs for the traders to give. I run reports for our senior managers pre and post market and help out the credit derivatives group in approving credit default swap (think protection for bondholders against the company issuing bond from losing money if the company goes bankrupt) confirms (the actual trade documents between the counterparties).
In ten weeks I have learned more then in the past semester of college - and I actually thought I learned a lot last semester! I am learning things on a daily basis (today was the elusive var swap) and can’t wait to take Options and Futures and Adv. Financial Analysis because I will be so far ahead.
In ten weeks I have also learned some non-work things. First off, I do not want to go right into law school and business school after graduating this year (my original plan), I want to work for a couple of years and then go back to school. The thought of spending another four years in academia really does not appeal to me right now. Plus, I really need to make some money and set myself up to be able to live for four years without working (when I go back to school). I also learned that I do not want to be a trader. Maybe it’s because I am inherently a risk adverse person, but I just do not want to go through that area of finance. I like where I’m working now, but I know that the end goal of working on the trading floor is to become a trader so I might be in the wrong place if I was working there full time/for real.
So here I am, ten weeks later. I will be continuing to work where I am now part time during the school year and will be moving somewhere into Manhattan to be closer to school and work. Recruiting for the analyst programs (post-undergrad at my firm) that I want to apply for start in September, and if I get accepted and get an offer, I could potentially be set-up for the next two-three years of my life by December. That would definitely make a happy Pat.
Cheers to ten weeks gone and the future ahead.
-pat