Junior Trader Jobs
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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.[br]
Table of Contents
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.[br]
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.
