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I’m a recent graduate. I have stellar academic qualifications and am passionate about becoming a trader. Unfortunately, however, I currently reside in the darkest shadows of the middle office.
Even worse, I am located in a non-front office building, making it extremely difficult to network, and almost impossible to meet anyone not doing something very similar to me.
It was cause for excitement, therefore, when four months into this role, I was invited to a middle office meeting in the front office building. Knowing that our CEO also happens to be based in that building, I decided to take a shot on meeting him.
Wearing my best French-collared shirt, and with my hair slicked back, I entered the trading floor as someone else swiped in. I quickly located his office; he had just come off the phone. I walked speedily past the secretary, knocked on the door (feeling quite confident), and enquired politely if I could have a moment of his time.
I then described my qualifications, my aptitude and passion for trading, the market views I had at the time relating to the strength of the dollar based on risk aversion and a slowdown in Europe, my returns from trading my own money etc.
What else could they want?
He was straight to the point with his response, stating that my qualifications sounded quite average compared to what’s on the floor. He also emphasised the merits of the bank’s graduate recruitment process.
At this point I was in trouble. I had the sensation that I was in the headmaster’s office, and wasn’t entirely welcome.
I asked if a Masters in finance from Oxbridge would help? Bemused, he asked if I was here for a job or advice. Both, I stated. I was going have to do it the hard way, and go back to school. His advice was to go get an MBA, from a top school. This would virtually guarantee me a place in an investment bank. And not to worry about the money, it will be worth it in the end. I thanked him for his time, and quickly departed.
In a way, I am still pleased with the encounter. Let me tell you why. There are people, who have worked there, 5-6 years, even on the trading floor, who have never spoken to the CEO, he doesn’t know who they are, probably never will. And like Wayne Gretzky says, “you miss 100% of the shots you don’t take”.
you, my friend, have epic balls. Congrats and good luck for your FO job hunt!
Nice Fantasy
That was a very bold move indeed.
It sounds as though the outcome of the meeting was particially poor, given you had 100% of his time and attention, and the most you came out with was advice that most articles on the internet/ questions on this forum, could have given you.
Did it strike you to say “can I sit with the traders/sales people for an hour whilst here” etc
I dare say this will receive a lot of comments, based on your guts… but realistically, it was a pointless feat.
How will you start the conversation on a years time, post MBA. “Hey, I’m the guy who burst in to your office and wasted your time…”
Just my advice.
It does seem like taking this “shot” really wouldn’t get you anywhere. Say he agrees, puts your CV/name to HR and all he can do is to ask HR to re-evaluate your situation. HR is most probably going to reject it (although politely), because if they did put you on a trading floor it disproves the graduate recruitment process all together.
Now, HR/CEO might probably have informed your line manager about your approach (believe me, they do this). Your neck is now on the line should any firing takes place and your ass is now on fire.
Great job in ruining your career genius. Rookie mistake. And you thought this was a once-in-a-life-time opportunity…
Good for you. The above posters are projecting their own insecurities onto you – they evidently wouldn’t have the balls to do that. And do you really care if you end up being let go? At least you’ll be out of the middle office!
CEO’s don’t sit on the trading floor. They have their own executive floors.
Not sure that getting an MBA was a great advice at all….
City Kid – I bow to you. It didn’t work out this time, but many millionaires failed a few times before they succeed…
Ignore Hedgehog and jwkt05, of course they are insecure, otherwise why would they be on this site (me included)?
Crackberry – my CEO sits on the trading floor, so don’t assume you know everything just because that’s the way it works at your place.
Pig
you won’t get to front office dressed like a waiter. Just ask yourself, would Gordon Gekko wear a waistcoat?
Very nice try and I would do the very same being in your circumstances at least you had the balls to go and talk to the guy. Don`t listen to the criticism regarding HR recruiting procedure crap, their procedure comprises a 10 second look on your CV that you spent hours trying to make look top.
Is that picture real? Looks like a sillouette of Billy Idol in some ’80s music video….no wonder the CEO didn’t help.
…@Citykid. One more reason why I think you took the right approach, right at least in a sense of being initiative and trying to sieze chance, is that I know a person in a very similar situation as yours, person even better educated than you with top names in CV, trying to get out of dead-end kind of BO-MO job, the person is hard worker doing first and last for the company, the person doesn`t sit in a trading building either. The person gets no support from HR to get more brain demanding job within company regardless his talent, knowledge and dedication being totally wasted at current place… I could go on about that, but the point is, you have little to lose because you are unhappy where you are anyway so why not taking a shot?
u are so naive dude…..there are no secure CEOs at any banks nowadays….ur CEO is probably one misstep away from having his ass canned…the last thing he’s gonna do is stand up for a rookie…nice of you to give him so much importance and all that…but once u work with these morons for some time u realize they are totally overrated political animals who are far more insecure than u will ever be in ur middle office existence…..SO STOP EXPECTING THEM TO SORT UR LIFE OUT FOR U!
..I’ve done this with the top ten people in my investment bank many a time.
@anon – That’s not a real photo of the author. It’s actually a silhouette of one member of Jedward. My Photoshop skills aren’t great, could definitely be better.
I think that was a nice move. People in banking have way too much respect for titles. Seriously, what could happen except that he’d say no (which is exactly what he did) ? I mean, CEO’s like entrepreneurial people, so he’s not going to fire you for that.
I did a similar thing in my old firm, basically asking the CEO about increasing pay in our graduate program for the senior analysts.
As expected, he said no to the pay increase, but he did write my business school recommendation.
And, five years later, he still remembers my name and face, which probably can’t be said for 99% of the graduate program.
City Kid,
You sound desperate and naive…you are lucky you were not sucked for wasting CEO’s time.
Well done son….most people complain about moving out of MO but never do anything about it…
risky strategy. If your quals are stellar then keep applying to grad schemes elsewhere in banks, strategy consultants, risk etc., then do the MBA with a bit of money/work experience under your belt. Doesn’t sound like you did yourself any harm, if you don’t ask, you don’t get, but particularly large banks tend to be v political and trying to bypass HR is risky as discussed above. If you really want it you will get there in the end (by the way I’m not sure I’d even classify a MiF from oxbridge/imperial etc. as ‘stellar’ so if you don’t possess this already I’d be a bit more humble. Whilst some people are attracted by self promoters, other people find them odious so you might want to be a bit careful here)
“…you are lucky you were not sucked for wasting CEO’s time.”
I like!
What you did was naive, selfish and totally pointless. Do you imagine what would be the outcome if every dissatisfied bank employee stepped into the CEO office to improve their career? If you deserved to be in FO, you would probably be there already or you will eventually. But not with this attitude.
@ City kid: I wouldn’t try to judge whether you did right or wrong. But given that so many people are divided in their opinions about it, I certainly think you had a point. Doing once is no harm, just don’t do this too often. And, I think you have done the best you could. Going through the HR would be a complete waste of time, and could potentially do more harm. Keep that fire alive. It will take you somewhere, if not today then tomorrow.
Based on the statistics, half the people think it’s a risky/stupid move, and the other half thinks it “will do no harm”. What’s the expected mean? Negative. Well done. You are obviously a kid
@jwkt05..To be honest with you mate..I’m pretty sure you’re a nobody..Since you’ve got time to not only comment twice but monitor the quantity of comments either way (at 17:04)..
What you perceive to be negative..I.e. losing a middle office job, is clearly neutral to the kid. Coming on here with your GCSE maths..
0 real risk, Only possibility of reward=>arbitrage
Szentmihalyi, hi
I’m surprised you even read the whole article, considering the only picture is the persons avatar profile. And, don’t you have futures trades to settle?
A bold move. But I can not see any possible way this deed could have positivel helped your career except for getting the free and very general advice. That makes it unwise.
*I raise my eyebrows*
Sorry to say it mate but you’ve done nothing exceptional here. I meet CEOs on a regular basis who tell me ‘networking’ is far far more important than more qualifications CFA/MBA etc what have you are diminishing in value. All of them say the same thing, don’t do more qualifications. Experience beats everything else. Every single time. Oh btw I just landed a job at a mid-cap bank via networking and experience in a related industry but not banking specifically.
Why couldn’t you have asked him for a chance, heck why did you not go back and ask him to introduce you to someone on the floor who would’ve given you the time to let you shadow them or at least do some sort of project for a trading desk
A good friend should have able to let you know this. or a trader you interact with, which could have thought of you if junior position arises, or forward on key information knowing you are interested.
But regardless the courage, if everyone does this, the CEO’s function wouldn’t be well managed by the CEO.
Only one thing i would add here.. if i was a CEO and reading this, my advice would be to go and meet some publisher, you are good story teller not a trader,,, secondly if all is true so you must be doing MBA now.. come on guys education alone not gonna give you all the confidence and money is not everything either.
remember, do the right and fear no man..
you will be fine
Everyone has advice for others but he tried and that is a goodthing and noble quality. Well done keep working hard and always keep your options open. You want to be a trader? Well just forget the money and go with your heart and get a trading position that will allow you to learn but be ready for little money is return. Best of luck anyone who tries this.
sounds like a “benedix” approach to me! Don’t have the guts to do something like that myself so kudos to you for doing that! But given my situation now, I’d die for a M-O job!
Good for you. I also communicated regularly with my CEO – of course, it cost me my job, but that was the price I was willing to pay. HR really, really, really don’t like people talking to the CEO of any bank – and as for your line management, if they ever find out…..!!!!
I hope you followed up your chat with an email thanking him for his time. My email correspondence with my CEO was a lot more important to me than the job I had – and two and a half years after leaving that bank, I’m still regularly in touch with him. You will never know when or where that contact will come in useful. I have to say, I’m not that impressed with the advice he gave you, but in fairness to him, it doesn’t sound like you were properly prepared for that meeting either. People don’t like surprises. If you had prepared him for that meeting it would have been more productive for both of you. When I went to see mine, I had prepared myself for two weeks beforehand, and it was obvious. When I asked him if I had wasted him time, he said “You never have”.
You’ve got guts to do that – but sometimes it’s better to put up with the slow role, until you’ve got yourself in the right position for the n