BB Equity Sales & Trading Summer Analyst interview on Friday....HELP!
So I just got an email today. I'm going in for an Equity Sales & Trading Summer Analyst interview at a BB this Friday! (What a great heads up)
I need one thing.....HELP.
Below is what I know so far after doing some initial research: Can someone please tell me if this is enough knowledge
S&T lifestyle is very different than ibanking. If they ask why S&T I will go along with the high risk, fast-paced environment and the chance to make spur of the moment decisions with often huge implications. Does that sound okay? Also, I know the hours are slightly longer than the actual market hours so say from 7am - 6pm?
Sales People have the job of attracting clients which can be in the form of individual investors (high-net worth individuals) or institutional clients such as mutual funds, investment advisors, pension funds, hedge funds, banks etc... Sales people do tons of cold-calling and are constantly on the phone with clients trying to get their client to buy stock, bonds or other products.
Traders are the ones that actually execute the trade. Traders are constantly monitoring their computer screens watching the market action. They are the ones who curse left and right during a stressful time such as a huge drop. If the trader executes the trade below the price quoted to the client, the bank stands to make a profit and if the trade is executed at a higher price than the quoted rate the bank loses?
There are two types of traders? Flow traders that trade the products on the market with the client's money and proprietary traders that trade on the market with the ibank's money.
Also no weekends and a lot of quantitative work.
This was actually very unexpected and it came as a surprise on New Year's Eve.
Someone care to help?
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As far as why S&T, I would go with "fast-paced," but not "high risk." Traders (and certainly banks) don't like risk, and any trader would gladly reduce risk if it could be done with no sacrifice to PNL. Trading isn't just about big risks, it's about calculated risks and diversifying away risk to produce consistent profits year in and year out.
this is more likely to be
this is more likely to be answered better in the Traders Train forum. This is the ibanking forum....Bankers arent Traders.... and Traders sure as hell arent bankers!
Yea you might get more
Yea you might get more replies from the Traders forum. I think that's fine for a first round interview. You might get asked sales vs. trading but that is up to you
It seems a little early for interviews, Did you apply online or through the school? Which bank/region is this?
Thanks again for the help
Thanks again for the help guys, I appreciate it greatly. I will post in the Traders forum as I realize this has to do with trading and not banking. Trading and banking are two very different fields.
I would prefer to keep the bank name private. I can tell you it is a Bulge Bracket that you all have heard of and it is in New York.
Just curious, how did you obtain the interview?
Just curious, how did you obtain the interview? Was it through networking? Just wondering since I'm looking for an internship as well and don't want to be late, but recruiting hasn't started yet at my school.
Yes, I networked my way to
Yes, I networked my way to the interview. Don't worry, you are not late for the recruiting season. I just happened to get my interview earlier than most because I go to school pretty far away (3 hour flight) and it would really be a hassle for me to fly down to school next week, only to fly all the way back up to New York two weeks later.
If you have applied for Summer Analyst positions recruiting usually starts towards mid to late January instead of the first week in January.
Jamba, thanks for the
Jamba, thanks for the response, good luck on your interview on Friday!
Thanks orangemonkey!
Thanks orangemonkey!