Anyone a rates trader in a BB/Corporate treasury?
Would love to hear anyone with experience working at a rates desk in treasury. Did you enjoy it, and what are the exit opps? Thanks!
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Here's one data point for you - hopefully more will come.
Currently trading rates at non-BB private bank. Love it. Econ undergrad. M&A is just model scrubbing and PowerPoint grinding in my eyes so I never had a real material interest in it. Exit is to be full time head of bond desk... or PM of a bond fund. Possibly can exit to credit/distressed HF or go to a levfin team at a bank. Im 2 years in and don't really have the urge to move. Great hours and great pay while doing super stimulating work every day watching the world go around. Hoping to either become head of desk or start my own full service bank with buddies who are currently IB analysts.
i concur.
What r ur thoughts on rates sales as a starting point? End goal would be to eventually work in fi am, progress in S&T, or macro hf. Thx!
Hi! Sorry for the late reply- your comments were really encouraging to hear. I asked bc I somehow did luck out and secured a trading seat in a treasury department trading rates- I’m unfamiliar with rates as a product but it is the most macro instrument which is great for gaining a deep understanding of the world of Macro. I wanted to ask if people usually made the switch to a market-making rates trading desk at a BB first before switching to a HF/AM, or if that switch was directly possible from a corporate treasury role.
Those exits you mentioned with regards to credit/LevFin also sound interesting, and not something I’ve heard before. Do you think one would have to build a skillset in fundamental analysis first before transferring to such a role,
Thank you!
Got a question, have you seen people with Asset liability management moving into trading or become portfolio managers in treasury? I am interested in the insurance side of Treasury trading.
Sales is a good spot to start in as you must be able to talk to clients about all FI products and the economic environment. What selling lacks is the constant market surveillance and communication with the street that traders get. Traders also are responsible for any risk taking and the book management that comes with sed risk taking. If you start in sales, I'd try to become a star and maybe move to the trading desk as an assistant if possible, if trading is what you want to do at your mentioned career paths. I've learned that BB banks have a much longer path to trader than boutiques, and it sometimes takes a little bit of luck to fall into a trading seat early in your career.
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