Junior Trader Jobs

By: EconomyWatch   Date: 1 October 2009

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EconomyWatch

The core Content Team our economy, industry, investing and personal finance reference articles.

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Junior trader jobs are similar to that of a regular trader, except the degree of responsibility and authority is much lower. Nonetheless, a junior trader’s job is considerably lucrative. According to a survey in 2008 by mysalary.co.uk, the average compensation of a junior trader was around £40,000. In addition, a junior trader, if s/he performs well, could get promoted to a senior trader within 1-2 years.

 

Junior Trader Jobs: Profile

To apply for a junior trader’s position, an individual must first have a keen interest in the financial markets. In addition, s/he must ideally meet the following requirements:

§ Strong quantitative skills.

§ A four-year university degree, preferably in mathematics, finance, econometrics, business or science.

§ Proficiency with MS Office and general IT systems.

§ At least 1-2 years experience in a structuring, middle office, or any such quantitative role.

 

Junior Trader Jobs: Characteristics

Besides the basic educational and aptitude requirements, a junior trader must exhibit the following traits:

§ Innovative and creative, which helps to create unique trading strategies.

§ Outgoing and communicative, enabling one to effectively cope with the dynamic trading environment.

§ Competitive and eager to win. This is vital for increasing the volume of trade.

§ Able to handle pressure in an extremely fast paced trading environment, which helps to meet tight deadlines successfully.

Junior Trader Jobs: Key Responsibilities

The core responsibility of a junior trader is to support a senior trader on the desk as well as on the trading platform by performing the following functions:

§ Executing trade orders.

§ Provide market information, such as price movements.

§ Handling trade discrepancies.

§ Pricing and structuring products.

§ Trading equity, bonds and derivatives.

§ Managing daily position.

§ Helping to create computerized trading tools and models.

§ Building prototypes and testing them.

§ Developing trading strategies in concert with the senior trader.

§ Implementing new products.

Generally, junior trader jobs are offered on a probation basis. The probation period typically lasts between two and six months. Most trading companies also conduct an intensive in-house training program, and confirm the employment status only after successful completion of the training. Moreover, a job-confirmation may be complemented with a subsequent increase in remuneration.


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