It is more useful if you have phd first. You can always become a trader later on after you finish phd.

QuoteOriginally posted by: AbhiJSkint,You need to be honest with yourself.Do you think you have what it takes to sustain profitably a trading Job for 10 years or do you think you may be fired and may not be fired.Points against PhDDo you think you can become a manager or consultant if you don't get a PhD.I mean you can get an MBA and try being a manager/consultant incase you lose your trading Job.In the worst case you can get a descent PhD next year as well as PhDs are based on profile and if you have a profile now then you have after 1 year as well.However that PhD may not be a Top 2 UK PhD.Points in favour of PhDDo you consider being a quant or an academic for a greater portion of your life ?Being honest with one self is probably one of the most difficult skills to acquire. Most people tend to look others objectively where as there is an element of emotion and aspirations that cloud the objectivity in one's own analysis. Pretty well known bias that any psycho analyst would be able to talk about better than I do. More than half the traders would agree to this only after they loose money but tend to blame something or someone for the same. Not to mention that the clause "investors being rational" in almost all the economic theories is untrue, there by adding to the uncertainty, randomness and anomalies in the market.

QuoteOriginally posted by: rmb623When your 55 and your body cant take trading anymore, you can grab a job as a professor somewhere and enjoy the rest of your life. Yeah, like, how many decent universities are going to hire a burnt out trader to be a professor when they can hire a brand spanking new 27 yo PhD to fill the professor gig?

QuoteOriginally posted by: AvatarPhIt is more useful if you have phd first. You can always become a trader later on after you finish phd. How many phds can get a trader job? Not too many even though many phds want this job. If you can get a good trading position, you better grab it when you can. Sure, you can't be a trader for more than 5-10 years max. But after 10 years of trading, you will be set of life. So, when you're 4º years old, you can sit on the Riviera and Relax or fund your own phd and relax.

Doesen't Trading have a high washout rate... And just like it's harder to get a trader role after a PhD, it will be harder to get into a PhD after washing out as a trader. Life is an unrepeatable experiment, choose what you can live with and what excites you, trying to optimise and "make the smart play" is often be irrelevant in the face of arbitrary good or bad fortune. Kack, any luck finding a new job?

phd man, it is not as hard to get a trading role. go for the phd, no regrets.

Dude seriously, you're young, go trading. Zmei had it right, the time is now. Later will likely be too late.Nomura is shit, but a trading job is a trading job. You will make money, be respected, and enjoy your twenties in a nice metropolis. Just try to avoid an early stopping time. You can always do a PhD, any obedient monkey can get one. Plus if you want to do a PhD in finance, your trading experience will come in handy when selecting a relevant research topic [most academics have no clue of what really happens in the markets, though they will never admit it]. no brainer

QuoteOriginally posted by: MartingaleBusterDoesen't Trading have a high washout rate... And just like it's harder to get a trader role after a PhD, it will be harder to get into a PhD after washing out as a trader. Nonsense. Traders who wash out wash out within 12 months. If you can hang on for 5 years, you can retire. QuoteKack, any luck finding a new job? Who's looking?

QuoteIf you can hang on for 5 years, you can retire. Ok, so this was certainly the case up until recently - haven't the prospects of junior traders changed somewhat now though?

QuoteOriginally posted by: skint101QuoteIf you can hang on for 5 years, you can retire. Ok, so this was certainly the case up until recently - haven't the prospects of junior traders changed somewhat now though?As it happens, there is always some hype about hollywood and wall street or traders in general. Not all traders make that kind of money that they could retire. Also, not all traders really time the market or have their own strategy. Many just have a book and they execute orders based on the rules set by the quants/head trader. There is not always much of leg room - "do whatever but make money kind of set up". In the latter case, the trader is more of a internal broker than a trader. I have seen some traders who did not retire even after 8 years in places like UBS trading stocks or credit default swaps. Eventually, they got bored pretty much of the routine and the repetition that they decided to either become a head hunter or join a firm like E&Y, where you get to meet more clients, travel, have an office. The way the trader said (who joined E&Y) - " I learned so much business in 3 years by meeting clients than I did trading CDS". I got bored as trader for 5 years. I can give you another example. Two of my acquaintances, both work for BGI, San Fran. One has been a bond trader for 5 years and he never made half a million dollars in any of the years. His bonus has been highest around 150k. In 2007, he got 50 k bonus. I know another equity researcher (quant) who made 0.5 million the first year she joined in 2005. She has less stressful job too.