Ive been reading a lot of messages about the work in Coprfin and S&T. It seems that there are both advantages, disadvantages, benefits, and detriments to both divisions. I guess my question is, is there opportunity to move into S&T if you have been in CorpFin for 1-2 yrs? and vise versa? Also, i what type if certifications or requirements do you need to get into S&T? Also, does the S&T division only take in young recent grads or do they offer opportunities to people who are not directly out of college? Thanks, J
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Also, what add more value to you in the future? experience in S&T or CorpFin? thanks
supposedly, it's a little easier to move from ibanking to sales/trading, but doing either is going to be tough (and is rarely done).
i've heard that in S&T you need a bunch, like series 7, 63, etc. But if you're asking so that you can take them and expect that to help your chances at getting an S&T job, then i think that's a dumb idea.
no, you cant just lateral into S&T from some completely unrelated role. you typically get in out of college or a grad program (MBA, MF, etc)
"which adds more value to you in the future?" most people will scoff at this question, but i'll give you the truth: ibanking. you are looking at a greater variety of exit options with ibanking experience on your resume. S&T will "add value to your future" only if you are good, and even then it will be for a pretty narrow range of exit opportunities.
...of course, i probably just wasted my time explaining all of that. first of all, you need to spend some time on a trading floor. if you love it, you will not like banking. vice versa. and second of all, you seem like a loser who will never get into either department.
Corp Fin and S&T are both very broad fields.
There are some structuring positions which are more of a hybrid. You get the client advisory and pitchbook making of corp fin, but you're very markets driven. Same with capital markets, a bit of both.
Is there a specific product you're interested in? If you were in corp fin, where would you want to go? A coverage/industry group (TMT, FIG, Healthcare, etc) or a product group (lev fin, ecm, dcm, etc). Talk to people, ask to visit the desk and see what it's like. It's tough to decide where you want to go from glossy brochures. Ask questions and think about where you would fit in.
I've seen people go both ways from S&T to CorpFin and vice versa, but the transition is rare.
I thought you needed a series 7 and 63 for sales and trading, especially trading.
And I think product group is better because that way you develop an expertise in a particular financial product instead of just being a salesperson.
You need 7 & 63 for S&T and almost all banks require it for corp fin as well.
are needed for S&T. dont worry about them now, if you get a job you will take them with your firm during training. lots of banks make you take the 7 for IB even tho its really not necessary. only reason is if you are on a road show without any sales or trader so you can talk about financial products, you dont have to take the 63. they are both easy though and memorization and if you study and arent an idiot you will pass.
it is possible to go bt s&T and ib and vice versa but more commonly you see IB To s&t bc people want a more interesting job w a better lifestyle. people rarely go from s&T to IB bc after a few yrs, why work more hours in IB to make less $$$$
s&T will take people after they have been working for few yrs but the big analyst classes (150+ will prob go down for nxt few yrs) only occur right out of undergrad/mba and are the best way in the door
hope that helps
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