Derivatives C# 750 pd City...

[Mephisto]

On a lower scale I managed to 'break into' the financial market through having worked on a billing migration project for a big Telco.

CreditCardCo offered me interview/role simply because pimp had filtered me for having finance on my CV. I declined due to last minute extension from current ClientCo, but it was a bit of a milestone reached and I felt a bit chuffed

[nomadd]

Yes, thank goodness for all that taxpayer's bailout money.

I consider my last 4 contracts - all Banking related - to be a tax reclamation scheme. I thank you for your contribution.

Still, it pays the bills (especially at a time when no other industry in this country seems capable of doing so).

Yes, thank goodness for all that taxpayer's bailout money.

Look test

Quite often banking IT is a look test - but you can get in if you have a 1st in Maths or you are an encyclopeadiac guru.

Money is good but I'm not sure why. I know someone who was on monopoly money doing the same C program for 15 years. Now he is on the bench he cant find work.

The clever boys (because they usually are boys) are really dumb considering the amount mummy spent on schooling.

[nomadd]

Then when I get to the desk on my first day I realise everything is hacked together with string and falling apart...

Yep, that's the modern, cut-n-thrust world of Banking I.T.

Still, it pays the bills (especially at a time when no other industry in this country seems capable of doing so).

[HairyArsedBloke]

1. Brilliant at Math.
2. Brilliant at Coding.
3. Brilliant at Business.
4. Lacking personality.
5. Limited sense of humour.
6. Don't drink beer or like girls.
7. Minimum 12 hour day.

1. Used to be, but I've met some wizards that are way ahead of me.
2. Not sure I ever was, but certainly not now
3. Now you're talking.
4. Guilty
5. Nah, not me. I love a laugh.
6. a) Love beer; it don't love me no more , b) girls, I've given up. I'm happy now I've turned to the other side.
7. Yeah, still do that.

Then when I get to the desk on my first day I realise everything is hacked together with string and falling apart

Sorry about that

[DeludedAussie]

... so how do people actually get into finance? Everyone who's there got a break and a first gig somehow??

I joined as a grad - Thats how a lot of people end up there.

To be fair I dont think that you need the *business* knowledge - After all a lot of the work is chasing bugs and figuring them out which does not require stochastic calculus or probability distribution knowledge and certainly not pricing / risk managing swaps

That said all jobs I have been to have always insisted on setting me a quant test - Then when I get to the desk on my first day I realise everything is hacked together with string and falling apart -

Just my 2 cents

[Scrag Meister]

Finance roles

It really depends on what area of business you are looking to get into.

@£750 a day sounds like experienced front office quant developers.
1. Brilliant at Math.
2. Brilliant at Coding.
3. Brilliant at Business.
4. Lacking personality.
5. Limited sense of humour.
6. Don't drink beer or like girls.
7. Minimum 12 hour day.

are the main qualifications.

for lower rung developer contracts ala 400-600pd you can be excellent at 2 and average/low at 1 and 3, and hopefully some of your skills points have spread out into items 4-6 as well, and work a 8-9 hour day. :-)

I worked as a perm outside financial institutions with an associated company and picked up a grounding in Shares, Bonds, FX, Interest Rates etc.. and had coded for 20 years, Basic coding on Commodore 64 at 14 served me well. Left there and spent 3 months (on bench by choice) applying, interviewing and waiting for the right role to be offered, got there in the end, and that was 3 years ago, only just moved onto my 2nd banking contract.

[moorfield]

Tell the pimps your rate is 750 rupees and you'll be in like a shot.

[aceboy]

Grad Programs are a very good start...

But if you have a PHD in maths & can write low latency pricing systems in C++ / Java you may get a foot in the door

[nomadd]

... so how do people actually get into finance?

Use Search. (And that's the answer to your question, BTW, no just the usual "Use Search" flippant reply ).

[rsingh]

The developers that I know earned a "hard" degree (physics, engineering etc) from a decent university and went in as graduates, so they have only ever worked in finance and have learnt the business side over several years before they ever went contracting.

I know a few sysadmin / DBA / support people who caught a break via friends or friends of friends, and two guys who left non-finance jobs for permie DBA roles in the city, and a few people who work on "non-core" stuff like helpdesk etc, but I've only ever met one person with a development role on a "core" system who got in without knowing the business already, and his previous job was programming supercomputers at CERN.

WHS

An alternate route is via a consultancy or software house that work in finance or create financial systems. £750pd is very high end for a contractor and you have to know your stuff (whether it be Dev or BA/PM). This includes knowing the business as well as the technical skills. Media studies graduates probably wouldn't hack it...

[gemasp]

A couple of years ago I also was wondering how people are getting into finance. It seemed to be a catch 22 situation: without finanncial experience to get into finance was impossible. I found a guy who opened a door for me. He suggested get employed as perm by one of consultancies working for capital markets and refered me to one of hes previous employers who was exactly that. I have been working on behalf of them for one of top tier investment banks for almost a year till they made me redundant just as crunch came into the UK. After that short introduction into finance I found a contract job in finance again. Still here.

Good luck.

P.S. There are quite a few consultancies working for capital markets. Have a look on google.

Good luck.

[doodab]

... so how do people actually get into finance? Everyone who's there got a break and a first gig somehow??

The developers that I know earned a "hard" degree (physics, engineering etc) from a decent university and went in as graduates, so they have only ever worked in finance and have learnt the business side over several years before they ever went contracting.

I know a few sysadmin / DBA / support people who caught a break via friends or friends of friends, and two guys who left non-finance jobs for permie DBA roles in the city, and a few people who work on "non-core" stuff like helpdesk etc, but I've only ever met one person with a development role on a "core" system who got in without knowing the business already, and his previous job was programming supercomputers at CERN.

[theroyale]

... so how do people actually get into finance? Everyone who's there got a break and a first gig somehow??