Morgan Stanley's new push to hire traders without experience

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Morgan Stanley's new push to hire traders without experience

Derek Melvin conceived the new programme

If you graduated a while ago and have been doing something outside financial services, but would now like to enter the industry in a sales and trading job, Morgan Stanley is offering you that opportunity.  

The U.S. investment bank has just opened up its experienced professionals programme for hiring black and or female traders in London. 

A spokesman for the bank says the intention is to hire 10 people through the programme, which was launched in London yesterday. Applications are open to people with at least three years of postgraduate work experience in non-financial backgrounds, including engineering government, law, energy, defence, technology, and healthcare. 

Given the normally high level of competition for graduate jobs in sales and trading, getting a place on the new programme seems comparatively easy. Bloomberg reports that the bank has had over 800 applicants for the programme since opening in the U.S. last September and that 70 people have been hired - an application to acceptance ratio of 11:1 compared to more like 60 applications per job for front office positions at other top banks. 

Applications to the London programme are open now and close on October 10th 2021. Successful applicants will start in February 2022 with eight weeks' training and support from a program manager, a mentor and a buddy.

The programme was conceived by Derek Melvin, a New York based managing director and Morgan Stanley's co-head of origination and syndication for fixed income secured lending. 

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