Difference between trading and investment banking?

sakky
Tue, 28 Mar 2006 19:54:41 +0000

“Nearly every trader codes”

No they don’t. My post #59 was completely correct as of 2001, for the places I worked, and for it to be otherwise every one of those people would have to have been dismissed. That is not plausible, I’m sorry.

“traders do need to know how to code”

NO they don’t. They need to know how to specify changes to their support analytical staff.



I have to agree with monydad on this one. Out of the 10 or so people that I know who are going into sales & trading, I think maybe 1 or 2 of them know how to code. And they haven’t coded in years. Nor are they expecting to have to code on their job. They’re expecting to trade. This information is completely current - these people expect to start their jobs in a few months.

Not only that, but of the many first-hand reports that I have been getting back from people who attended sales & trading interviews, not one of them was ever asked a coding question, or whether they had any coding experience.

That’s not to say that programming and algorithmic knowledge aren’t useful in trading. Indeed, I think they can be quite useful. But that’s a far cry from saying that all traders need to know how to code or that nearly every trader codes. Those statements are way too strong.