Hi, I currently am signed to intern a FICC trading rotation this summer, and have a goal to end up in a macro hf in the long term. Would it be possible to work in the macro HF space as a junior right out of college, given summer FICC experience, or would this be unlikely? And if so, would it be better to start in FICC on the sell side and lateral at the PM level, or start as a junior on the macro side with the end goal of becoming a macro PM?
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Similar situation as you. I interviewed with hfs after my sa in FICC snt. They really have a much higher bar in terms of trying to judge your technical proficiency in python/data science and so on; especially for the more FICC strategies because they can get pretty quant. Also though having ficc snt experience is helpful in getting an interview and demonstrating interest in macro, it doesn't give you nearly enough background or knowledge base I feel for a buyside analyst job. Personally I ended up going with a BB FICC SNT offer off of my experience at an MM cus I felt like I needed more time to learn the ropes and product knowledge and acclimate to trading my own book while being protected by the more established BB platform.
Buyside I think is lot more sink or swim tbh and I don't think I'm ready for that yet. At a bank, you know that if you do decent will you will be promoted to associate/vp or whatever in a predictable timeline; how would you know if you are at a buyside firm with like 20 investment staff or a smaller pod? Your entire team can get laid off without you getting any real responsibility.
When I interned in SnT before I saw a lot of ppl in research/trading move to fic hfs after like 2-4years on the desks so its not an issue in terms of exiting; ppl had multiple buyside offers even at the mm though most of them prolly not worth moving for so they stayed.
I think when you start meeting more of the older traders you will realize a lot of them worked in buyside before and now in their 40s or sth have decided to hold on to a trading job in the bank as long as possible cus they get paid enough and the career vol for the hf jobs are just not worth it and your goals may change as well.
Et eum at est vitae debitis ut fugit. Eum minus et atque aperiam et.
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