How I Broke Into Trading

I graduated with a degree in Economics in 2008, just before the great recession. Like most other grads I had been told I would walk into a job...this turned out not to be the case. I could have returned to a full-time position in accounts at RBS where I completed a summer internship but about the only thing I knew for sure is that I didn't want to stare at a spreadsheet for 9 hours a day as a career.

Nine months went by of trying to cobble enough work together so my dad didn't have to pay his 21 year old son 10 pounds again to wash his car. I was actually a pretty good football referee when I was younger and could have gone down that route but I don't really enjoy thousands of people swearing at me in chorus. So I stuck to my goal of doing something in the financial markets, I just didn't know what.

Then pretty much out of the blue I got a call from my recruiter telling me about an operator job at Trafigura. I knew nothing about them, or commodities to be honest, but I headed to Matt Basi's office where he showed me everything that had happened with the oil price in the prior 6 months.

I walked into the interview brimming with un-earned confidence and ready to show off my oil trading acumen, only to be greeted by the COO of metals and the global head of copper concentrates trading. It turned out the potential role was on the refined metals desk.

The first question they asked me was "what do you know about physical metals trading?" Expecting this to be an oil role I was completely unprepared. I had to make a split second decision - do I try and BS my way through this answer, or should I be honest? I opted for the latter, which is always the correct decision. "I know the difference between physical and paper trading but that's about it. But I guarantee you if you give me this opportunity I will soak up information like a sponge and be able to have a tangible positive impact on the desk".

I'm not sure if they could sense any of the desperation I was trying to hide, but they seemed to appreciate the answer. We spent a large part of the rest of the interview talking about the fact we grew up in neighboring towns - I have mentioned the importance of active listening in interviews and turning them into conversations.

A few days later I flew out to Lucerne in Switzerland for a trial day where I booked some trucks, went through some stock positions, and chatted with people on the desk. The work I did that day was not important, the real test was how I interacted with people - would they want to work with me for 9 hours a day?

Thankfully, Dina Machado offered me the role and, after eating some chocolates while looking out at the Alps over Lake Lucerne, I gladly accepted. I would never get over those views as I walked to work each morning - not that the views in South East London aren't as scenic of course.

The day of my trial happened to be St. Patrick's Day and I was told to head over to the local Irish pub, Mr. Pickwick, to celebrate with some of the other expats and my future colleagues. After having a great night and indulging in perhaps a few too many drinks, I went back to the hotel and drifted off happily.

Waking up the following morning, I stared at my phone through bleary eyes and panic shot through me. I had slept through the 5 alarms I set and I had missed my flight. Side note - if you're going into this industry you should get used to being put on the first possible flight out in the morning.

I headed to Zurich airport, after stopping for a lovely fresh croissant and heisse schokolade (in for a penny, in for a pound I thought) where I quickly found out how expensive a last minute one-way flight from Zurich to London can be. Having been semi-unemployed for 9 months I wasn't exactly rolling in it, but I was convinced that If I had called Trafigura and explained the situation, they would have revoked my job offer.

So, after pleading with the less than sympathetic airline staff (apparently IOUs aren't considered currency at the airport) I forked over my last $500 and headed back home. 3 weeks later I said goodbye to London and hello to the start of my career in commodity trading.

A few lessons I think can still be applied today:

1) Thoroughly prepare for interviews and in general know the job you are going for. However, if asked a question you don't know the answer to, don't try fake it. The people asking the question will tell in an instant you aren't being honest.

2) Be geographically mobile. When I graduated I didn't envisage needing to move countries for work, never mind later moving continents. But this industry rewards people that are willing to go after opportunity wherever it is.

3) Switzerland is beautiful, the Swiss-German language is not.

4) Learn to handle your alcohol.

5) If you can afford to wait, don't settle for a job you know you will dislike. I know sometimes that isn't an option and you're going to need to generate an income. I was in the privileged position that I could afford to turn down a role at RBS. Keep on plugging away, cast wide nets, and network like crazy. It's no guarantee but there are plenty of opportunities in this exciting industry.

I know breaking into the industry today, especially to the largest trading firms, is much more competitive than it was when I did it, and if you think I might be able to help either with guidance, contacts, or looking at a resume, please connect with me and I'll see what I can do.

If nothing else, hopefully you had a good read and maybe a chuckle.