How can I become a junior trader in Chicago?

I'm interested in finance and thinking about starting a career as a junior trader in Chicago. What are the steps I need to take right out of high school or during college to land such a job?

Starting a career as a junior trader right out of high school or college involves several steps, including focusing on the right education, gaining experience, and networking in the field. Here are some steps you could consider:

1. Get Your Education: Pursue a bachelor's degree in a relevant field such as business, finance, economics, or accounting. Many finance jobs, including trading, require a minimum bachelor-level education. While in college, learned about financial markets, investing, portfolio management, business statistics, and corporate finance. If the college has an option, opt for a course concentration in finance.

2. Internships: One of the best ways to start is by landing internships in a financial institution or a trading firm during your college years. This provides a good understanding of the industry, reinforces classroom learning, and builds strong networking connections with professionals operating in the field. Check with your school's career services office for assistance in locating internships.

3. Certifications: Getting certified by the Financial Industry Regulatory Authority (FINRA) can be a step in the right direction. The Series 7 and Series 63 are common certifications traders obtain. These exams cannot be taken independently; they must be sponsored by a FINRA member firm, which usually means you need to be hired first.

4. Networking: Knowing people in the field of finance can open the door to job opportunities. Attend finance-related events and job fairs on campus, and make sure to follow up with connections.

5. Building Skill Set: The world of trading requires strong analytical and mathematical skills, along with an understanding of computer science. Some traders may need to know how to code, so learning languages such as Python or R can be beneficial. Traders also need to stay up to date on market trends and movements, so reading financial news and analysis regularly may also prove beneficial.

6. Applying for Junior Trader Positions: Once you have obtained your degree and gained some experience, you can start applying for junior trading positions. Build your resume around your best financial and analytical experiences. Highlight your familiarity with trading, mathematical skills, and analytical thinking.

Even if you secure a junior trader position right away, remember that lifelong learning and continuous skill development are crucial in financial trading as market controls and trading technologies continue to evolve. Keep an eye on emerging financial markets and deepen your understanding of them through both formal courses and independent study.