What degree to work in finance?

ICONOGRAPHY – Trading room trades attract ambitious young people. International banks seek for these professions graduates from masters in finance or engineers.

The trade of trader is dreaded as much as it is a source of fantasy. Feared because market finance was pilloried after the subprime crisis of 2008 and the monumental scam Bernard Madoff. But it is a profession that is still dreaming of his mirobolant wages and the image “Wolf of Wall Street” that the post returns. And today? “The trader’s fantasy still exists a little bit,” says Jad, an interest rate seller at a British bank in Paris. The trading room is a flat hierarchical structure that makes you immediately important. In three years, you earn 80 000 € per year, it can turn your head.

Engineer and Master in Finance

The pathways to these demanding jobs have changed little. In the trading room, two main businesses coexist: “The seller is the operator who opens the market to customers and advises them on their positions, explains Jad. For these trades, banks are looking for a business school or finance masters such as Dauphine Financial Markets or Essec’s Master in Finance. For the pure trader job, which takes the bank’s positions in the markets, recruiters prefer profile engineering school of the top 5 then master in finance: the job remains very technical and requires to be trained in mathematical models.

Financial risk management always more important

Since the crises of 2008 and 2011, the business has evolved, and training likewise: “We are putting more and more emphasis on risk management, details Pascale Biala, director of MSC Financial market Edhec. For a long time, we only thought about training in mathematical models. Today, we are turning more to macroeconomic scenarios to guard against risk. ” Today’s traders have strict daily, weekly and monthly risk-taking limits.

A globalized profession

Listed outlets, France is not the Eldorado of the market finance. And the training had to adapt to the globalization of the market. “Apart from Societe Generale, most of the major banks have relocated much of their market activities abroad: Hong Kong, New York, but especially London are favored by young traders,” says Michel Baroni, director of Master in finance of Essec. Thus, two-thirds of the students of this master find a job outside France and half of those of Msc Financial market of Edhec comes from abroad. In both courses, courses are taught in English, a language whose professional mastery is required to find a job.

“The numbers end up tired” Jad, Sales in interest rates in a British bank

And after? Better to have a dual skill to be able to reorient if necessary. “It’s a repetitive job. Once you do not have the clammy hand at every sale, it’s always the same, says Jad again. And then it’s abstract, but today young people want to set up businesses to sell something concrete. We only deal with money all day long. Everyone only talks about that. The numbers are getting bored.