Trader Internship Tips for Success
Traders are generally required to complete an internship to graduate. The value of these internships to aspiring traders is impossible to overstate. The training is intensive, and the internship provides a very practical introduction to one of the most demanding, and lucrative careers that exist today.
The internships are usually advertised on the career pages of corporate websites, which are definitely the best place to look first. The internships are also commonly offered at financial industry career and job fairs, which are very useful places to check out what's available and make comparisons between offers.
Trader internships interviews preparation
Internship providers set vary high standards for admission. They also get the best and brightest applicants. You must view the interview as a competitive process. You can expect to be thoroughly tested in all aspects of your knowledge. Don't be surprised if the first question you get is "What do you know about our company?" The wrong answer will eliminate you from consideration for the internship. You must research the employer's business in depth. You should be fully familiar with the trading element of their business in particular. Correlate the internship and its applications in the company's business, and learn the basics well. Check out the company's website, their annual reports, and market information sources to ensure you have up to date information.
There are several essential areas you must be prepared to deal with:
- Your technical knowledge: These questions will cover the entire gamut of industry practices. Although you're at trainee level, a strong knowledge base is required to do the internship job. Remember the employer is looking for the best interns they can find. Revise all aspects of the job's requirements thoroughly.
- Your knowledge of the provider's business: This is where your research pays off. Your understanding of the provider's services is a competitive advantage, absolutely critical to your status as a candidate. You should be able to converse fluently about the employer's products and services and answer any related questions.
Trader internships overview
Some big industry names provide internships, so the training can be ranked according to the provider, to some extent. A "brand name" internship looks very good on the resume at entry level, and the competition for places is ferocious. If you get one of these internships, you've already made a major career achievement.
The work of a trader intern is only generic to a point. Trader internships can be quite different. Interns are trained according to the business model of the internship provider. These business models vary widely, in terms of financial services and emphases on financial products. Many firms specialize in particular areas of trading. The internships are particularly valuable for those seeking to specialize themselves in those areas. The actual internship work is a mix of structured practical and classroom training geared to the employer's business functions. It's as important as your formal studies in providing thorough, detailed training.