Before I lost my job with a top U.S. bank two years ago, I spent 20 years trading cash equities. I've worked across the spectrum: algorithmic trading, client interaction, agency execution, and risk-management. Two years after being made redundant, I'm still looking for something else.
I made some mistakes. I thought finding a new role would be easy. I didn't even bother looking for one during the initial phase of the pandemic. This year, I've put a lot of energy into searching, but people aren't responding to my applications. Search consultants don't return my calls. I see jobs advertised, but there's no follow-up when I apply and no real, and it seems there's no firm commitment to actually filling it.
Whenever I do get close to a job, I find that budgets have been pulled or there have been problems with the process.
Nor does it seem possible to move into the middle office anymore. Hiring in risk and compliance is increasingly about technology. The people who are hiring for risk want someone with experience in risk - not an ex-trader.
Being out of the market is hard, but it has some advantages. I've become a full-time dad and this has been an amazing chance to spend time with my family.
Max Bates is the pseudonym of an equities trader
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