Pros
- Get a lot of exposure to the financial derivates market and how the brokering/trading industry works. - Good experience for a operations role at a bank or something else in the industry.
Cons
- If you're looking to become a broker its very unlikely. The brokering market is shrinking and all the brokers here are older who refuse to give up accounts. Literally you walk through the floor its all older people, unless you walk by a busy market its 35 year olds +. - Most Junior Brokers get lied to and get promised clients sooner or later, but that nearly never happens. You'll hear "You've been doing great just waiting for XYZ to happen" I've seen this happen to many people including myself. I left sooner than later, but I've seen people wait way too long. If you already have good relationships with a trader at a bank in your product then you have a decent chance. -Its truly one of those jobs that if you're too good at it they don't want to promote you. Just think about it as a manager would you rather have a great support guy who can keep everyone happy or a new broker who has a learning curve and take $$ straight out of other people's pockets. - Building off of the last point, this is a very back stabbing business. Broker's will stab each other in the back to steal another's clients. I've literally seen this from two guys who worked with each other for 20+ years and one ending up having to be let go. It's all about the brokerage commission at the end of the day. - This part never bothered me, but you will get vocally abused. When something on the operations side go wrong your fault or not and the client gets unhappy the broker will be down your throat. Definitely not a role for someone with soft skin. - No matter what department you work in the broker is king. Whenever there is an email chain or any discussion they can openly talk rather harshly down on you with no repercussion.
