How does one become a money market dealer?

Answer 1

Couple of ways to enter the money side of finance. Firstly graduate with a business or numerical related discipline (engineering, math, economics, finance) and try to get in on the ground floor of a Bank through a graduate program. Secondly, experienced staff should have a background in relationship management within the broader banking and finance sector. It's quite often people step to being an FX or Money Market dealer from those positions as the dealer's role is all about sales and relationships with the institutions clients. Try to differentiate yourself with some form of finance related postgraduate studies. Masters would be the obvious choice, but even graduate diploma's can stand you out from the crowd. Best places to look are large banks and financial institutions. They will have the most number of positions and will have a natural turnover of employees so these roles may come up often. The only issue you may have is that they are quite popular roles amongst Bank staff to make their move into the Markets/Treasury areas of the Bank so the jobs will probably not make it beyond internal advertisements. So, either get onto a graduate program where you can move into a permanent position at the end (hopefully in markets), or join the Bank in a relationship/customer interaction role in their Corporate/Commercial banking departments. This will hopefully give you some interaction with clients who utilise the money market side of the Bank and will get your name around the Bank (it's all about contacts!). Good luck! (I happen to work as a money market for one of the big four Australian Banks).