Job, internship and network in management and finance

Presentation

Brokers act as agents of the financial markets. When Traders want to buy or sell financial instruments they will usually contact an Inter Dealer Broker, particularly for large OTC (Over The Counter) deals. Just like an estate agent, a broker will have clients who want to sell assets and clients who want to buy assets. The IDB must find some common ground around pricing in order to match clients together. They earn a percentage based commission. Therefore, volatile markets can be beneficial for IDB’s. IDB’s have performed well recently because as long as the markets are active they will earn commission whether markets are rising are falling.

Main employers

• ICAP
• BCG
• Tullet Prebon
• GFI Group

Description

Education

Skills needed

Interdealer broking is all about building relationships with the clients. Because the services provided by IDB’s are often difficult to differentiate IDB’s must build strong relationships with their client. They must therefore entertain them and have excellent soft skills as well as deep market insight and knowledge.

• Good relationship building skills
• Good analytical skills
• Self starter
• Ability to focus under pressure

Grades needed

Salary range

Although IDB earn a basic salary, a large part of their income will come from performance based commission. They can have very good years and very bad years. Therefore it is difficult to estimate how much an IDB makes in a year.