Institutional SalesTraders Questions
I am intrigued by the position of Sales-Traders at institutions at such and have some general questions about the career.
1) Do most banks have Institutional equity s&t departments? If so how does commision work? I'm assuming it is all commision based but the traders arent actually doing the selling so how does that work? Also I assume first years make the general bank salary found in ibd, research, s&t, etc but how does it progress and how do the bonuses work?
2) How do you get involved in the career out of school and if you do, how do you establish the essential relationships needed with PM's(based on my limited knowledge of this job it seems to be entirely based on relationships with PM's on the buyside)
3) What is the future of this job as the markets are increasingly run by computers ie couldnt a simple algorithm do all of this trading?
Thanks





1) Yes. S&T is broken down by
1) Yes. S&T is broken down by product / asset class and most banks will have the same types of S&T desks. Not sure about commissions, but I know as an S&T analyst you're only providing support to a senior salesperson (i.e. not running your own book).
2) Banks have OCR for these positions. It's fairly standardized.
3) A computer can't do what a salesperson does. He cultivates relationships with institutional money managers and recommends certain offerings depending on their strategy.
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