Best Sales and Trading Desks
I am an incoming Summer Analyst at a BB within the Sales and Trading division. I am wondering what desks are ideal to sit on, during three rotations.
I am interested in Fixed Income in both Rates and Credit. Love global macro so FICC would possibly be ideal as I come from an Econ and Political Science background. I would love to learn more about the different products within Fixed Income.
I am also open to Equities, possibly a desk within derivatives. I find convertible bonds extremely interesting as well. More insight on Equities would be helpful.
Any information about various desks will be extremely helpful. Would love to learn more about the exit opportunities of various desks and long-term trajectories.
Congratulations on your upcoming Summer Analyst role! Based on the most helpful WSO content, here's a breakdown of potential desks you might consider for your rotations, especially since you have an interest in Fixed Income, Rates, Credit, and Equities:
Fixed Income Desks: - Gov't Credit: Deals with government securities. Given your interest in global macro, this could be a good fit as you'll be exposed to economic and political factors that influence government bond prices. - Corporate Credit: Focuses on corporate bonds. If you like analyzing company fundamentals and credit risk, this desk might be intriguing. - Rates: Involves trading interest rate products, such as treasuries, swaps, and other derivatives. This desk is highly macro-focused and would align with your interests in global economic trends. - Currencies and Money Markets: Trades in FX and short-term debt instruments. This is also macro-heavy and could be a good fit if you're interested in how currency movements affect global markets.
Equity Desks: - Cash Equities: Involves trading stocks and ETFs. If you're interested in market movements and company-specific research, this could be a good choice. - Equity Derivatives: Trades options, futures, swaps, and other derivative products. This desk is ideal if you enjoy quantitative analysis and complex financial products. - Convertible Bonds: A hybrid between bonds and equities, convertible bonds could be an interesting desk if you're looking for a mix of fixed income and equity exposure.
Exit Opportunities and Long-Term Trajectories: - Fixed Income: Can lead to roles in risk management, portfolio management, or strategy within asset management firms. Long-term, you could move up to head trader or portfolio manager positions. - Rates and Credit: Might offer paths into hedge funds, especially those with a macro focus, or into treasury roles within corporations. - Equities: Can lead to equity research, hedge fund roles, or asset management. Long-term, you could become a sector head or move into a C-suite role within a fund.
When choosing your rotations, consider where your interests lie and where you see yourself in the future. Each desk offers a unique set of skills and knowledge that can be beneficial depending on your career goals. Remember, the relationships you build and the reputation you develop during your summer analyst stint can significantly influence your trajectory, so choose desks that not only align with your interests but also where you can excel and make a strong impression.
Sources: Fixed Income Sales and Trading 101, Help Me Understand Fixed Income Investing, What are the different types of Credit?, Overview of Leveraged Finance
Thank you
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