The Insider's Guide to Becoming a Software Engineer at a Top Trading Firm in Australia

Welcome to our ultimate guide to becoming a software engineer at a trading firm – complete with insider tips from real grads.

We'll cover:

1. What software engineers do at trading firms
2. What degree you need to get hired
3. The hiring process
4. Interview questions
5. Best tips

What do software engineers do at trading firms?

Photo courtesy of Graduate Trading Software Developer @ SIG

Before diving into how to become a software engineer at a trading firm, you'll first want to understand what they do on the job. After all, if you don't know what they do, how can you convince a company that you're the perfect candidate? 

So if you haven't already, check out What's it Like to Be a Software Engineer at a Trading Firm? and think about how your experiences make you qualified for the job.

Since your main job at a trading firm will be to make software for traders and researchers, it may also help to be familiar with what they do every day.

What degree do I need to be hired?

Nearly 1/3rd of software engineers at trading firms studied Computer Science at uni. Together with Math & Statistics and Engineering, these are the degrees that the majority of software engineers have.

 

📣 Hear it from a grad

The software development role requires knowledge of algorithms, data structures and programming methods that go hand-in-hand with education in Software Engineering or Computer Science. – Software Engineer @ IMC Trading

However, that still left about 2/3rds who studied something else: math & statistics, or engineering, accounting & finance, and sciences. So a computer science degree isn't a must.

📣 Hear it from a grad

As a software engineer, the only real common denominator is a reasonable familiarity with programming languages and aspects of how computers operate. As has been evidenced by the massive boom of coding boot camps and learn-to-code programs, with enough grit and determination to learn, anyone with a suitably analytical mindset can apply themselves and become a software engineer.  – Software Engineer @ Citadel Securities

Want a real-world example? Here's a software engineer who studied chemistry at uni and another who studied electrical engineering!

The hiring process

In general, here's what you can expect from the hiring process for technical roles:

1. Technical and Behavioural Assessments: The processes generally include both technical (coding, maths problems, aptitude tests) and behavioural (culture fit, team dynamics) assessments. This indicates that firms are looking for well-rounded candidates.

2. Real-World Problems: The assessments often include real-world problems to test how well you'd perform at the core tasks of your job.

📣 Hear from grads themselves

My interview process consisted of a number of stages, starting with an online coding assessment, maths questions and psychometrics. After those, I had two days of on-site interviews which consisted of more maths problems, a resume review where we discussed some of my previous work, challenges, and so on, a more casual interview about work/culture, and technical interviews involving design and implementation. – Software Engineer @ IMC Trading

The interview process was fairly standard - resume screening, online coding quiz, phone interview, then in-person interview. It was nice to be flown into Sydney for the in-person interview so I could also see what the office and workplace is like. – Anonymous grad @ Optiver

There was a 'superday', testing candidates for technical and social skills. Followed by more interviews with team members and management. – Anonymous grad @ Eclipse Trading

The online assessment was prompt and to the point, they were fair in difficulty. The take home assignment was interesting to work on as it described a realistic task. The in-person interviews were challenging, but make a lot of sense as they also tackled real problems. Finally, the talk with [members of the firm] was very enjoyable, and cemented my excitement to work at Vivcourt. – Anonymous grad @ Vivcourt Trading

Interview questions

You can expect to be asked a mix of questions.

1. Technical questions: Many of the questions are technical in nature, focusing on coding, data structures, algorithms, and industry-specific problems. Programming languages like Java, C++, and Python are often mentioned.

2. Behavioural questions: These aim to assess soft skills, emotional intelligence, and cultural fit.

3. Industry-specific questions: These are questions related to financial markets and your interest in trading.

4. Practical scenarios: Some interviews include practical coding problems or tasks related to trading software systems.

5. Questions about your motivations: You'll be asked questions about your interest in the company ("Why this company?") and/or the industry ("What sparked your interest in trading?").

📣 Hear from grads themselves

Here's what some grads shared when they were asked "What questions were you asked in your interviews?"

Coding questions [like] "implement a trading-related software system given the specs" and discussion about general tech topics.  – Anonymous grad @ IMC Trading

Technical knowledge about programming languages (Java, C++). Software design questions involving message sending and networking. General motivations for applying to Vivcourt and my interest. – Anonymous grad @ Vivcourt Trading

Mostly technical questions about Java and ... some practical programming tasks. – Anonymous grad @ Eclipse Trading

Questions related to basic financial market operation ...  an in-person algorithm design [question] and a series of programming aptitude questions regarding C++ and Python. – Anonymous grad @ Tibra Capital

Most of the questions were behaviorally focused which sums up the attitude taken towards hiring. Selected candidates are more likely to be confident, emotionally intelligent and able to interact with others around them. – Anonymous grad @ Optiver

Best tips

#1 Hone your technical & problem-solving skills 

Technical skills are a must.

📣 Hear from grads themselves

Be extremely confident in your ability in C++ and Python. – Anonymous grad @ Tibra Capital

Practise one of Java/C++ (understand and know the language well) and understand general programming data structures and algorithms to prepare for the technical side of the interview process. – Anonymous grad @ IMC Trading

Have a strong background in algorithms and data structures. – Anonymous grad @ Vivcourt Trading

Know the standard library for your main programming languages. Do not waste time in implementing something that already exists.  – Anonymous grad @ Vivcourt Trading

As a software engineer at a trading firm, problem-solving skills are also essential. Ideally, show firms that you're good at solving problems and enjoy it too!

📣 Hear from grads themselves

Focus on your computer science fundamentals and develop your problem solving skills.  – Anonymous grad @ IMC Trading

Be passionate about problem solving. – Anonymous grad @ Optiver

To brush up on their coding skills, grads used these resources:

1. Cracking the Coding Interview
2. LeetCode
3. HackerRank

#2 Demonstrate your soft skills

While technical aptitude is crucial, they're not enough. Software engineering is collaborative work, so firms will also try to see how well you're able to communicate with others.

📣 Hear from grads themselves

Whilst technical knowledge is important, communication and project management are crucial. No matter which team you end up on, you’ll be interacting and collaborating with a variety of other teams, both technical and non-technical. Knowing how to work efficiently with them, and manage their needs and expectations is important to developing great solutions. – Graduate Software Developer @ Optiver

Be prepared to back up your answers with real world examples – Anonymous grad @ IMC Trading

Do mock interviews with friends so you can practice saying your thought process out loud (which is more important that being able to code up the right solution). – Anonymous grad @ Optiver

When in both technical and behavioural interviews, always say more rather than less. – Anonymous grad @ Vivcourt Trading

#3 Show you're passionate about the sector

Another way to stand out is to show that you're passionate about the field of trading.

📣 Hear from grads themselves

Prepare stories from work/uni/home that best showcase who you are and how passionate you are about the type of work we do here (both technical and finance related). – Anonymous grad @ Optiver

Prepare highly in financial knowledge – Anonymous grad @ Tibra Capital

Asking insightful questions about the sector (and the firm) are a good way to show your interest.

📣 Hear from a real grad

Come prepared to ask lots of questions of the interviewers - that's much more important than remembering a textbook interview response. – Anonymous grad @ IMC Trading

#4 Show that you have potential

This advice applies to about any other junior role, but employers don't expect you to know it all. However, they will want to know that you have the potential to learn and pick things up when needed.

📣 Hear from a real grad

We don’t expect you to know everything when you join. Every day you learn something new at Optiver. Showing that you can learn and improve from your mistakes, and reflect on your past experiences is far more important than knowing everything at a glance! – Graduate Software Engineer @ Optiver

#5 Be yourself

Finally, be yourself! This is a surprisingly common piece of advice that grads give, so it probably means not enough people do it.

📣 Hear from grads themselves

Just be yourself for the behavioural interviews. – Anonymous grad @ IMC Trading

Be open and honest with your interviewers. – Anonymous grad @ IMC Trading

What next?

Ready to take the next step? Check out the best trading firms for grads and apply away!