Wall Street

<p>What does it take, to become a trader at Wall Street?</p>

<p>Just greed</p>

<p>A second rate education.</p>

a lot of luck and drive and the right connections.</p>

<p>It depends on your definition of a trader. There are many people working on Wall Street who call themselves traders but perform different jobs. If you wish to be a Specialist at the NY stock exchange, you would be responsible for matching buyers and sellers and making a market in certain stocks. The Specialist job, however, is on its way out. Computers can easily perform most jobs that people used to perform on the NY stock exchange. Another type of trader, and today the most common, is someone who has a lot of money or works for a company with a lot of money and buys and sells stocks and options on his own account. The bulk of their compensation depends on how much money they make. Although you don't necessarily need a college degree, if you want access having a business degree with a concentration in finance should help. You may also need to obtain a license from the National Association of Securities Dealers (I think that is the correct organization) such as a Series 7 license. If you wish to trade futures such as commodities, metals, oil, etc. you will be best off in Chicago at the Chicago Mercantile exchange. The Stuart school at the Illinois Institute of Technology has a wonderful program on financial instruments. If you graduate from there, you will know everything there is to know about trading.</p>

<p>If you want to be a trader/broker at a bulge-bracket firm, it takes a top-15 B-school education.</p>