UK Fixed income investment banker here. Pop your queries about banking/finance/culture down below

Priced into the spread. Not priced into the mid... you can't price uncertainty into the mid.

So let me get this straight, beancounter.

If I want to record an Accounts Receivable entry, say an invoice I'm yet to be paid, would I...
>1. Debit the Assets:AccountsReceivable
>2. Credit the Income:Customer
And then when the actual cash was received,
>3. Debit the Assets:CheckingAccount
>4. Credit the Assets:AccountsReceivable

Likewise, if I want to record an Accounts Payable entry, something I owe (say a re-imbursement to a member of staff), would I...
>1. Credit the Liabilities:AccountsPayabale
>2. Debit the Expense:WhateverTheyPaidFor
And then once I reimbursed them,
>3. Debit the Liabilities:AccountsPayabale
>4. Credit the Assets:CheckingAccount

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Savings are shitty because I'm a second year who YOLO'd a bit too much cash on rent and no, I don't live in the City (you wouldn't want to either... who wants to live in the Barbican). About 10000 people live in the City and about 1/2 a million people work here.

so you don't expect another dip equivalent to 2016?

How much time do you actually work each week? Im not talking about jerking off at meeting or talking to hr roasties but actually looking at investments and preparing presentations for clients and such.

... actually what the fuck am I talking about. Long day and I'm sell side so I'm thinking on different time scales to you.

Reduced uncertainty will result in a value rise (as people feel more comfy holding GBP). Not in FX but a few desks away.

S&T, get in before markets open, leave after markets close. I put in maybe 12 hours per day. Sales usually deal with the clients. Frees me up to focus on the market and develop strategy.
Fuck roasties. Not gonna lose money over that shit.

>who wants to live in the Barbican
me t b h
would love to have a penthouse in shakespeare tower

Do I look like your accountant? Speaking of which hire an accountant.

Im about to start a 6 month rotation on power trading desk.

I need advice on how to be an alpha please.

>Paying extortionate amounts of money to live in a flat
>Brutalist architecture
Blow that shit on rosties and blow. You'll feel better about yourself.

Know your product. Know the market conventions. Know where prices are. Have a predetermined strategy. You a voice trader or an automated trader?

my colleague lives in the barbican. his commute is like a 5 minute walk

God dammit OP, do my fucking books.

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Why did you end up working on the most boring asset class?

Im not a trader at all. I tried to get in to either trading or risk management in banks on a graduate scheme but my academic history is pretty shit compared to the people i was up against. Have a MSc in finance from UCL but terrible gcses, no a levels, mid tier undergrad, no decent extra cv boosters. Did do an internship but that was about all I had going for me - it was unpaid though and no opportunity to convert to a job.

Ended up at an energy company on a graduate scheme. Trading was an option for a placement, so I wanted to see what it was like. Im not sure if it will develop opportunities to move back to the city, but other people from the company have done that, and just having the option would be nice.

checked
>12hr days
on a scale of 1-10 how much do you regret your
a) career choice
b) overall life decisions
t. quit the london life years ago

FI is very fun. Equities and FX are a shit show. It's boring because it's rational.

Say some big UK exporting company announces losses. Bang there goes it's equity value. It's bonds? Stay nice and chill. Because they'll still pay you back.

Not to mention all those cheeky derivatives, take... say a put option. We had that in FI before they were really a thing in the market. Buy a puttable bond, sell/short a traditional bond in the same company/country. Enjoy your put option.

The govies side is driven by central bank rates. The credit side is driven by non-terminal balance sheets. It's a rational world.

How many times did you interview before you got an offer?
Accountingfag here. Both are correct

That's exactly what you do

Sorry to hear that fren.
What's your trade window? At the bank we make markets...

how does the commission/fee is structured in your investment field?

Twice. I just got very lucky.

3.
a) I actually wanted to do a PhD, didn't get the PhD I wanted, got a PhD I didn't want then decided let's fuck it all off and go into banking.
b) Not at all. I like what I do. I just miss academia.

I caught 200 pips on Monday and another 150 pips on GBP/USD yesterday. Where can I apply for a job as FX trader?

Pick a currencies HF. Market making aint prop trading. If you'd be happy executing client orders and setting a B-O spread then ye, apply to any bank. Otherwise, keep on trading for yourself, or find some fund to chuck money behind you.
Or execute client orders and selectively hedge ;)

what are your colleagues like?

always wanted to get into finance, is it too late at 26 with no finance related degree or work experience?

Im familiar with market making concepts however I suck at school. What are my chances of becoming a professional trader

Do you mean two interview at one co. or rounds at two different co.s?

Good chaps. Most people are just in it for the money though.

What part of finance?

Trade for yourself. Make money. That's your CV. PnL beats school. School beats nothing.

One round at one co. Two rounds at second (current) co.

How much do you usually earn per year?

Are you constantly under pressure to perform? I understand that in sales you have to make a certain amount each month right?

North of 80K sterling.

Thanks user.

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Yes. Make money. Don't (consistently) lose money. Or get out.

There are exceptions... some big client comes and wants some illiquid shit. We take that on our books try to hedge it but it has no liquid match. Get a solid illiquid hedge. Try to unwind and can't.
Can't avoid that. Management gets it.

Who are your clients?

Hedge funds. Arb shops. Pension funds. Also institutional investors, companies looking to hedge currencies (if they pay their workers in GBP and flog their product in USD for example), hedge rates (they receive fixed but pay floating), or folks who want to create some SPV to execute another deal (they buy gilts/govies) etc.

I'm gonna fuck off now. Nice talking to you gents.

>12 hours per day

PFFFFFFFFFFFFFFFFFFFFFFHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

jesus christ you absolute fucking pathetic turd

imagine sucking jew cock for 12 hours a fucking day in londonistan

there's something especially risible about the london finance grads, they think they're absolutely the hottest shit going and that they breathe success, but invariably they all live shit lives, get taxed too much for what it's worth, live in a box surrounded by the dregs of humanity, go out and see a second world urban dystopian sprawl as their everyday experience, and then start bragging about it online like it's something to be proud of

the superlative wagie

what a faggot

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desu i'd rather that over being a neet