Job Responsibilities
As a research intern for an FX trading company, I was responsible
for writing daily articles on different currency pairs--focusing
on economic analysis, as well as international stock and bond
markets. Some of us were also charged with coming up with ideas
for commodities which may correlate with certain currency pairs.
There was very little "busy work".
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Job Requirements
Most of us were undergrad students on our summer break from
school--there were some Ivy Leaguers, as well as public
university students. To get in for the research internship, we
had to take a writing test which basically consisted of questions
pertaining to our knowledge of the currency markets and
fundamental analysis.
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Uppers
Prestige--this is by far the most difficult internship to get with the company.
We were definitely treated differently than interns who were in sales or
marketing, but we were also a smaller group (5 vs 30+).
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Downers
Don't expect a lunch break--you're busy all the time and
deadlines are tight. You have to like/be able to work under
pressure.
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Lifestyle
Dress code - Business casual, plus casual Fridays. Although I think they've
stiffened a bit on the policies as they've grown bigger.
Work hours - It all depends on you. You'll typically have a set work load for
the day, and if you get it done quickly you can pull an 8 hour day--but if people
are out on vacation, there's really big economic news, or you just fall behind,
you may find yourself there from 8am to 8pm.
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Compensation
$10/hour, no benefits. It's only an internship though, and
honestly, you just have to be happy you're getting paid.
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Advice to Jobseekers
If you want a way into the FX market but don't really know how,
this is it. Many interns get hired on as employees and its a
great way to guage if the field is right for you.
It's definitely an up-and-coming market, so while you may not be
getting much now as far as salary goes, it looks like it'll pay
dividends in the future.
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