Thinking of a career as a trader? Here’s my story
Sandy Mullangi, CFA, is Head High Yield Trader at M&G investments America in Chicago.
In this article, she shares her personal career journey to becoming a trader, and the skills she recommends aspiring traders to develop.
Mullangi shared her career experience as part of the CFA® Program Career Webinar Series, in which CFA charterholders detail their professional journeys, day-to-day responsibilities, and consider the skills and strategies needed to navigate a career in the financial sector.
Becoming a well-rounded trader
My journey into the world of trading began thanks to a love of math and investing. I found my way onto a trading desk early on in my career, starting out as a trading assistant. This was a great way to learn about all the products that were traded on the desk. From there, I worked my way into a trading seat.
I chose to do the CFA Program a few years after I started trading bonds, as it was a good way to develop a better understanding of how the entire investment process worked. The expectation is that traders are not just button pushers – they require a broad understanding of the companies being invested in, and an ability to ask intelligent questions. The CFA Program gave me a well-rounded education and helped me be a better trader as my career progressed.
How trading has changed
The fun of being a trader is that each day can be vastly different. I start my day early to get a sense of what’s happened overnight in other geographies like Europe. This gives me an idea of the direction of the market in the U.S. and/or an awareness of topical events that may impact the region. As a trader, we tend to be the ‘ears and eyes’ of others in the investment team, so getting a good feel of what is happening in the morning and what headlines may be moving which sectors of the market is vital. I then relay the information to interested parties such as portfolio managers and research analysts.
Skills to be a trader
The path to becoming a successful trader requires a blend of skills. First and foremost, curiosity is key. As a newcomer to the trading world, I was surrounded by experienced individuals and seized every opportunity to learn and understand the market from their perspective. Additionally, a self-starter mentality and the ability to tune out distractions are essential in the often chaotic trading environment. Time management and detail orientation are critical, as any mistake can have substantial financial implications.
Moreover, being in the office and immersing oneself in the information and conversations happening around you is invaluable. Every conversation, whether formal or informal, contributes to your understanding of the market and builds your network within the firm. An important part of my day-to-day role is building relationships with stakeholders internally and externally to get a feel for what they are doing and seeing.
How do you become a trader?
There’s a finite number of roles within trading and a lot of the time companies promote from within, so hard work and proving yourself are important so you can get noticed. For individuals looking to move from the sell side to the buy side, you may have to step down to a junior role in the short term. However, this can get your foot in the door – I recommend applying and making sure your cover letter addresses why you want to transition from one side to the other, as well as highlighting the skills that you've learned on the sell side.
Conclusion
Whether you are just starting your journey into trading or considering a shift from a different finance discipline, remember that every interaction and skill is a chance to shape your career. My final piece of advice is to surround yourself with information, even if you don’t always understand it. New information creates questions that can lead to conversations and opportunities for learning.
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