Michael completed a Bachelor of Commerce, majoring in Finance, at Melbourne University in December 2004, having done an internship with UBS the previous summer. In January 2005 he joined the bank’s graduate program as a trading clerk dealing mainly with derivatives, but also in a support role for the entire floor.
What was the first overseas trip?
UBS sends all its graduates to London or New York for initial training. In September 2005, I went to London where all UBS’s equities graduates were gathered for six weeks of training. The classes gave an overview of financial markets as well as an introduction to professional life at UBS. It was a lot of fun, and also provided a solid grounding in financial theory and markets. However, most importantly the training provided an opportunity to meet other UBS graduates from all over the world, and made it easy to develop professional and social networks.
And the second?
I came back to Sydney and began to work more closely with the derivatives desk. In March 2006 I was sent back to London for another course, lasting two weeks. We studied options theory and had more advanced classes on financial markets. This course was more challenging than the graduate training one and was aimed and developing the theory needed to work in derivatives trading. It was class-based with an exam at the end.
What happened then?
I was able to utilize daily in Sydney what I’d learned in London. My previous support role widened and I began to be involved in trades. I am now moving into a trading role and have a graduate who’s taking on my support role.
What’s next?
In March 2007 I will go either to London or Stamford in the US for an even more advanced course in equities and derivatives. It will be harder still and is designed precisely for people who are going to be derivatives traders. After that, I will be trading full time.
What does the future hold?
Working overseas is certainly on the cards. I want to stay in derivatives and I’d like to work overseas. Europe is a larger market than the USA for derivatives and structured products, so it will probably be London that I’d go for. UBS has a program that facilitates overseas placements.
Michael's tips:
- Keep up to date with current issues: read the financial press daily.
- In interviews be enthusiastic. The banks don’t expect you to know much, but they do expect you to be keen and interested.
- Don’t be afraid to put yourself out there, and if you have questions, ask.
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