Feb. 10, 2012
-- 3. Specialize Carefully
Twenty years ago, stock brokers made big bucks on Wall Street. Today, with so many do-it-yourself trading options, the profession is becoming less and less of a necessity. While there are many brokers who still make a good living, it’s a much tougher industry than it was in the ‘70s, ‘80s and ‘90s.
Consequently, future Wall Street employees should be careful when it comes to specializing in one particular field. While it might be better to be an expert in one area than a generic jack-of-all-
trades, the risks are not to be ignored. Just look at what happened to those who worked in proprietary trading (http://streetid.com/
786) (a practice where banks make risky bets with their own money).
2. Differentiate Yourself – or Your Company
Whether you’re an analyst making calls on Kraft Foods and Johnson & Johnson, the vice president of a large bank, or an individual trader who supplements his income with a financial blog, it is vital that you begin to differentiate yourself from the pack. If you can’t offer something different as an individual, or present something special within your corporation, you won’t survive. Wall Street has become too strained and too competitive for anyone but the best to thrive.
1. Join StreetID
Regardless of your position or area of expertise within the financial sector, there is no place better suited to serve your needs than StreetID (http://streetid.com
). Designed to be the ultimate financial career matchmaking site with a growing community of financial professionals, StreetID is a one-of-a-kind website. With StreetID, current job seekers and those looking to move on in the future can sign up for a free account (http://streetid.com/signup/candidate
) and make a direct connection with relevant candidates and employers.