Career Dilemma: FO Internship in Paris vs. MO Exotic Trading Support Offer in Poland – Smart Move or Potential Pitfall?
Hello everyone, I’m reaching out to seek some insights from those in the trading or middle office sectors regarding my current career crossroads.
I’m a French student currently pursuing a front office internship in FX Derivatives Sales & Structuring at Convera in Paris.
Throughout this internship, I’ve had the opportunity to:
- Collaborate with front, middle, and back office teams
- Assist in structuring hedging strategies for corporate clients utilizing FX options and exotics
- Employ option pricers to model vanilla options
- Automate processes using Excel/VBA
- Compose macroeconomic updates for clients
This experience has solidified my aspiration to work in trading, ideally in a front office role.
Now, here’s where I am. I’ve been invited for an interview with a major international bank for a middle office Exotic Trading Support position based in Poland.
From what I gather, the role involves:
- Supporting traders of exotic derivatives
- Modeling both vanilla and exotic trades
- Managing trade flows, booking, and PnL reconciliation
- Ensuring accuracy and risk control in trades
While this position is not in the front office, it is technically oriented and situated near the trading desk.
My ultimate goal is to transition into front office trading, so I’m contemplating whether this middle office role could be a strategic step forward or if it might hinder my chances of moving into front office positions down the line.
Here are some considerations I’m grappling with:
- The move would entail relocating from Paris to Poland.
- The bank has a strong reputation, but it’s still a middle office role.
- I’m concerned about being “pigeonholed” in a support capacity.
- On the flip side, this could provide valuable technical exposure and networking opportunities.
Has anyone here successfully transitioned from middle office (particularly exotic support) to front office trading? Alternatively, have you found it difficult to escape the middle office once you’re there?
I would greatly appreciate any experiences, advice, or red flags to be aware of. Thank you in advance for your input—I’m happy to provide more context if needed!
One response
It’s great that you’re reflecting on your career options and seeking advice! Transitioning from a front office internship to a middle office role can be a tricky decision, especially if your goal is to eventually land a front office position. Here are some points to consider:
Pros of the MO Exotic Trading Support Role
Technical Skills: The MO role will deepen your understanding of the products and processes involved in trading exotic derivatives. This technical expertise can make you more valuable as you strive for a front office role.
Networking Opportunities: Being in a support role close to traders allows for networking within the organization. Cultivating relationships with traders and others in the FO can lead to internal opportunities down the line.
Insight into Risk Management: Understanding how trades are booked, monitored, and controlled can offer you a holistic view of trading operations, which can be beneficial for whichever path you choose.
Cons of the MO Role
Perception of Being Stuck: Many people worry about becoming “boxed in” within a MO role. If you don’t network effectively or demonstrate strong motivation for a FO position, it could be challenging to transition.
Geographic Move: Moving from Paris to Poland has its own set of challenges. Consider how this change impacts your lifestyle and career trajectory in both the short and long term.
Potential Lack of FO Exposure: While the role gets you close to the desk, it may not offer the same visibility or decision-making influence that you would have in a front office capacity.
Considerations Before Deciding
Leverage Your Current Internship: If you can, try to secure a position in the front office after your internship in Paris or explore opportunities within the same institution for a FO role.
Set Clear Goals: If you accept the MO role, define a timeline and an action plan focused on transitioning to FO. This could include seeking mentorship, attending relevant training sessions, and expressing your long-term aspirations to management.
Seek Insights from Others: Try connecting with individuals who have made similar transitions. LinkedIn can be a great tool for this.
In summary, while the MO Exotic Trading Support role does offer valuable experience, it’s crucial to ensure that you actively manage your career trajectory and continue seeking opportunities in the front office. If you feel that the technical exposure and networking opportunities will genuinely aid your ambitions without limiting future options, it could be a worthwhile move. Best of luck with your decision!