• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

Breaking into Banking.. Any tips?

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    #11
    The hours can be really crap with the American banks. If a support problem is to be found it usually gets found at start of day New York when trading starts and when they eventually call you up you will have your jacket on and just about to head out the door. If you say you are not staying around to sort it you will find your pass revoked the next morning. The places are usually filled with tulipe middle managers who will quite happily bag you so they can cover their backs.

    Comment


      #12
      Originally posted by badger7579 View Post
      Anybody got any tips for increasing my chances.

      P.s purely going for banking to try to increase rate.
      Learn how to nod your head sideways and prostrate yourself in front of pimps at £350/day. That should sort it.

      Comment


        #13
        Originally posted by KentPhilip View Post
        I've never worked in investment banking, but other people who have say that it is tough work with long hours. So yes you might make more, but it'll sap the lifeblood from you. Is that what you want?
        Remember banking does not always only = investment banking. Also consider retail banking, corporate banking and private banking sectors as well.
        ______________________
        Don't get mad...get even...

        Comment


          #14
          HTH:



          BIDI
          "Experience hath shewn, that even under the best forms of government those entrusted with power have, in time, and by slow operations, perverted it into tyranny. "


          Thomas Jefferson

          Comment


            #15
            This is how it is

            If you read these intro to derivs books on the train and get interviewed by someone that knows about derivs, you are going to give a lot away about yourself.

            If you have a lot of business knowledge you can get top dollar in banking IT. Quant dev means you can walk up to a trader/quant and talk to them in anger, understand what they are talking about. They are kids and will not give you the time of day to explain properly. You have to know it as well as they do. You cannot pick that up on the train to the interview. Top dollar this way lies.

            If you dont have these skills and you work in banking IT you will be doing infrastructure work, take this data, munge it, put it there. Put a web service interface on that. Interface these two systems. This is not well paid when you factor in the lifestyle, will require long hours and is boring for most devs.

            So, you can read a book and get a job. Don't think you are fooling anyone though - go in eyes open.
            Last edited by aussielong; 23 December 2010, 11:13. Reason: tense

            Comment


              #16
              I've just been sent a random email for a VBA role in Manchester specifically stating that it's a way into banking.

              Only £250 per day but if someone wants the details PM me and I'll send the email.
              What happens in General, stays in General.
              You know what they say about assumptions!

              Comment


                #17
                Originally posted by KentPhilip View Post
                I've never worked in investment banking, but other people who have say that it is tough work with long hours. So yes you might make more, but it'll sap the lifeblood from you. Is that what you want?

                Also most bank jobs are in the city/docklands so there are much higher travel/subsistence costs to offset. Is the light worth the candle?
                Not strictly true, it depends on your manager.

                I'm in at 7:45 and out on the nail at 5, with an hour for lunch (sometimes)

                If there is a need to work extra then thats not an issue, but I expect the same flexibility in the other direction too.
                Never has a man been heard to say on his death bed that he wishes he'd spent more time in the office.

                Comment


                  #18
                  I've only gigged at banks for the last 10 years, 5 different clients in total, and I recon I've only made it in for 9am probably 5-10 times year , usually I get in around 9:30am. I don't think working in bank is any harder than anywhere else to be honest I think some how thats come about as a myth to justify higher rates but to be honest the rates need to be higher to cover the cost of working in central London imo. For me the commute is a the b*tch, 1hr door to door on packed tubes with dodgy guys with ruck sacks standing next to you

                  Comment


                    #19
                    Originally posted by kaiser78 View Post
                    Remember banking does not always only = investment banking. Also consider retail banking, corporate banking and private banking sectors as well.
                    I found corporate banking quite pleasant for a while, but it wasn't with an American bank.

                    The ability to keep your head below the parapet and not create waves is an asset.
                    Behold the warranty -- the bold print giveth and the fine print taketh away.

                    Comment


                      #20
                      Worked for a couple of IBs, a few retail banks and a couple of insurance mobs.

                      The level of tosser is at the highest at the former and moves down to the latter.

                      The pay is at the highest at the former and moves down to the latter.

                      Their code is stinking right across board. 10 to 30 year old systems that probably were alright in the first 6 months of their life that have been hacked about by a succession of useless contractors.

                      Comment

                      Working...
                      X