I’ve got an interview on Monday morning at TP ICAP for a Trainee Broker role in their Equity Structured Products team with the MD. I’m assuming it’s about derivatives like futures, options, etc. Are things like Vault Guides to Finance Interviews / Heard on the Street enough? Is there any additional prep I’d have to do beyond the aforementioned guides?
Also, what's the work/comp like at ICAP? Has anyone worked there before? Any input would be great!
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Hull Derivatives book
This is a godsend, thanks man
Of course man, no problem. Best of luck, book helped me a lot for sure.
How did the interview go? I also have a First round lined up.
I think it well imo, my feedback was they moved the role to Paris for whatever reason but got recommended for another team which I turned down as I’m planning on doing a masters. What team/division are you interviewing for? Mine was for their structured equity group (I think that’s the name, but it involved options & other derivatives).
You also have to be personable too, someone they can go out for drinks with, as you’d be meeting clients.
Once you get in, you're essentially a small business within the firm. Say you spend ten years building your client list to generate X amount of business, you're not looking to switch over to consulting or banking after investing that much into it. There is no set analyst/associate/vp/md/partner path...you're a broker and retire as one or you didn't make it. High risk/high reward career so it's definitely not for everyone. It's even more so difficult today with increased regulation, technology, and consolidation in the industry.
Exit opps depend on the desk. Anything related to financial sales (sales desks, hedge fund sales, pwm) is quite possible but isn't that common. IDB to trading is not realistic.
Hope that helps.
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