Banking vs Trading
What's S&T like compared to banking? Is it more of a fast paced? Is banking a lot more technical? Very curious!
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Lot of threads on this topic, here's one you should check out: https://www.wallstreetoasis.com/blog/trading-vs-i-banking
S&T advantages over banking? (Originally Posted: 02/09/2010)
Hopefully this doesn't ruffle too many feathers, but I used to work for a top BB. The kids from IBD were way more qualified than the S&T ones. S&T analysts were not recruited mainly for GPA or pedigree. There were kids with 3.3's and 3.4's from the likes of Boston College, Villanova, Lehigh, Rutgers, etc.
However, S&T numbers tend to be lower at most BB's, but there is also less applications. There are few exit ops for those in S&T since they cannot move to PE or VC or corp dev or strat consulting or other jobs. Given all this, how many S&T analysts move on to HF? I'm guessing not a lot from the hedge funds I've looked at since they are mostly ex-bankers and even a few equity research. What happens to a S&T analyst after 3-5 years? Not everyone can be a head honcho trader so what happens to the normal traders or the ones who are placed in sales, are they screwed?
plenty go to hedge funds in trading roles..
way more qualified = higher gpa??
Why not PE? You can always go back to business school and apply to PE's. S & T gives you plenty of investment strategy experience, effective communication skills, and sound market knowledge.
Not to mention, In S&T you move up the ranks faster and eventually make more money while working less hours. Trading and sales trading are much more exciting and rewarding than answering calls from pissed off sycophant vps demanding yet another stupid job done in record time.
If you're good at S&T, you make the same bonuses as in banking and work less than half the hours. You can also exit into hedge funds and make just as much as PE and (again) work half the hours.
The only real downside is that your job security is less certain than in banking / PE. If you fuck up, you can lose the firm a lot of money as well as your job.
I don't know where you get the pedigree thing, pretty sure my class' resumes would have been as strong as the IBD guys, though this was specifically FI S&T which tends to be a little more quantitative.
Anyway I agree with most of the people above. The upside is higher in S&T (comp wise) and less time working. The downside is it's a lot less stable in terms of job security and the exit ops are not as broad without going back to get an MBA. For a lot of people I know, however, this doesn't matter because they love the markets, so if its your thing then the breadth of exit ops is not a big deal.
It would be nearly impossible to go from s&t to PE.
Those who go from S&T to HF tend to be execution only traders unless they are at global macro or commodities funds.
Also, would not say that upside is higher in S&T, unless you are in one of the prop groups like gs ssg, which generally recruit separately. S&T is generally a sales job (getting hedge funds, mutual funds, etc to execute trades through you, so you take them clubbing and shit to woo them). Still, its not a bad job for people who are very personable and good at it because no business school and you can move up the ranks quickly and make a few mil a year.
Banking leads to PE and analyst-> pm roles at fundamental hedge funds (activist, long/short equity, event, distressed, etc), which can have substantially higher upside than anyone in S&T. But hours are much longer and you have to go to business school generally.
It is not just the prop desks that have large earning potential, almost every market-making desk has a prop book also anyway.
Thanks cashcow, very informative. and I am talking mostly S&T at large banks, not prop firms or the prop arms.
During the boom years, flow traders in the more structured products were making way more than their IBD counterparts.
i dont know where some of you are getting your information from about S&T or what firms youre working at but some of these responses are bewildering. S&T recruits are NOT generally lower quality than IBD and traders often make much more than bankers.
i was a banker, were any of you? moving to trading was one of the best decisions i made in terms of compensation. read: bonus upside is definitely higher (of course its more volatile too, can you handle that?). as an analyst my comp was comparable, but when i became an associate on most occasions i made significantly more than my IBD counterparts, with the exception of few IBD areas where comp was comparable.
as REVY said, every desk tends to take risks for their position and is not only just a market maker. and the job that CASHCOW is describing is sales not trading. as a trader my number one priority was to make money,. sure i schmooze when sales brings clients around or ill shoot the sht with clients on the phone, but trust me they came second to my P&L.
now, i will concede that it is a lot harder to go from trading to PE/VC. not so for HFs. I know plenty of traders that made that move and they dont just execute trades like pawns, they make or contribute to portfolio decisions. in fact, i was offered a few of these roles from head hunters back when the sky was the limit. now, are your exit options limited compared to banking? absolutely. part of the reason i left. but if youre interested in trading, you tend to stay a trader. it takes a certain amount of balls to sit on the other side of trades every minute of the day gunning to win and knowing that for you to do so someone must lose.
Wintonheights, have you ever heard of a sales trader becoming an analyst/portfolio manager at a fundamental hedge fund (i.e. long/short equity, event, distressed, activist, etc).
I have been to at least 10 of these type of funds and have never seen an ex sales trader except in the role of execution only.
Cashcow was talking about SALESTRADERS, not TRADERS.
very, very different.
of course the salestraders only execute. that's what they do back in their bulge bracket firms. their skillset is execute.
The TRADERS a.k.a. market makers, do have potential to be actual trader/investment analyst in hedge fund.
definite yes to long/short equity and to distressed assets, dont know first hand of the other two. im talking mostly traders, i only know of one salesman that has done this.
i cannot speak for your 10 personal experiences, but moving to a HF is a very viable and popular exit option for traders. and to get more specific your HF role will be very closely related to whatever product you previously traded.
ask anyone at goldman who runs the show...definitely the traders
Philip Falcone, the man behind Harbinger, one of the most famous credit/distressed shops, started in S&T
was a high yield trader at Kidder peabody, then head of HY credit @ barcap.
im sure when he was head of HY trading, he had to do client dinners a few times a week to bring in the flows. but there is also ton of fundamental analysis in HY flow trading. you constantly communicate with the credit research folks.
What are your chances of being a trader trader rather than salestrader or sales desk? Are you screwed if you don't get it coming out of the S&T analyst program?
Did you really use to work at a BB? I don't get how someone could have been so clueless about the markets side (no offence). Also, I think the lower GPAs on the markets side was probably a result of people taking more quantitative degrees.
The quantitative degrees was another reason I was going to point out. My class had people like MIT & Cornell Engineering/Compsci and a few math and econ majors, so you are bound to find lower gpas.
I worked in PWM but perhaps you can explain. I'm also talking about incoming analysts and many of them did not have top GPA's and a top Ivy degree. Some had one or the other.
Why is there this delusion that traders make less money than bankers? They make more money and work way less hours. Just speaking to traders the pay scales are similar between S&T at the analyst level but when you start rising in the ranks, the pay starts separate real fast.
Don't get me started on prop desks either.
Not sure if this is true but I HEARD GET Co. starting analyst pay is 500k after bonus...Jane Street etc. The good thing about S&T is that it's not about connects but all based on merit since title in the prop desks don't mean anything. If you're a good trader as an analyst you can make more than the VP or MD.
Look at Andrew Hall, $100 million just from trading oil.
Second on the Goldman Sachs comment, ask them who pulls in the money, IBD or S&T?
Funny you should mention that, since I worked at GS and the traders you're talking about are not the same as the ones i'm talking about (S&T analysts). Very few get to that stage and even become big balling traders.
500k starting aanlyst pay? I think that discredited your entire post.
i can't say for the rest of his post but he actually may be right about the 500; getco starting is indeed around that from what i've heard. but yea, you're not going to get that high ever in ur first year as a BB s&t analyst.
LOL. No first-year analyst at Getco is making $500K/year or anywhere close to that.
Trading is more about raw talent than banking, which could be why some people are recruited with lower GPAs or lower "credentials" but show that they have the intuition/guts/natural intelligence to succeed at the job. Banking is teachable. If you're willing to grunt it out, you can do banking (at least at the junior levels), which is why banks are willing recruit non-finance majors with high grades because grades are just a reflection of how hard you work. Trading is about ability. Try teaching trading to someone who's never been exposed to the market in 8 weeks and see how he/she compares with those that couldn't keep their eyes off the market since they were 12 years old.
I quote what I heard from a trader at a BB take it as you may, in S&T people like kids top of their class from top non-targets (some of the schools you mentioned), more so than IBD because they spend so much time sitting on a desk with them daily. I haven't worked on a trading floor yet so I don't have an opinion on that but thats what I hear.
bump.
s&T is more glorious, masculine, fun, its not mind numbing moron work, you have a very decent life, and make more money on average...and did i mention its fun
i dont know why anybody would choose IB over ST, unless they hate their life and want to give it away, for an hourly wage that is as good as a truckers..
That doesn't even make sense, can people in the industry comment please and no more college/high school students?
S&T people come in two bags. One is smart/mathy/quanty and the other is decently smart and a good socializer. There is money, but it depends which product. Munis = nothing other products = awesome. At the end of the day it's probably more fun then IBD could ever hope to be.
In IBD there's prestige ( i.e. the higher up you go you start walking around in fancy suits and talking things over with clients ). It's got the whole sophisticated country club feel to it, but obviously an insane amount of work/hours.
At the end of the day though, I've never heard of an IBD guy making $50mm a year. But that's happened in trading. The flow of money in trading is what led to GS being taken over by the trading guys.
However, if you're fired from your S&T job it's hard to land back on your feet. IBD guys can go work at GE or something.
If you're going to compare the one guy who gets 50 million then how about checking out bankers like Moelis, Greenhill, Parella. Even Lorello's paycheck is a hefty sum. The top 1% of traders will always make more, but so do the top 1% of poker players. Are we going to compare Phil Ivey vs. banking just because around 50 guys in poker make more?
Banking means more exit ops and interesting work. You guys are also idiots if you think S&T is more interesting because ask any S&T analyst what he's doing. Here's a glimpse
"1. Check email 2. Get coffee 3. Conference call 4. Read news and research reports 5. Make phone calls and send IMs to clients to discuss relevant overnight events, trading flows and research ideas.
http://careers.bankofamerica.com/campusrecruiting/usfn-global-sales-tra…"
Don't get me started on sales. You are a middle office monkey sucking off clients all day and on the phones calling for information and relaying it with a "spin" to clients.
By next year I'll be in PE with a very high paycheck, job security, and working less hours. Not to mention most of the interesting work in hedge funds are done by bankers while the shitty ad havoc duty and execution is given to ex-traders. In the long run the banker lives a lot better. If you're going to be a good trader I would rather be at a top prop firm like Jane Street than at a bank.
Having worked on both the IBD and S&T side - numbers on the S&T side recently are much better (especially at the top bucket level)
Exit Ops are less important because there are more promotion opportunities. How many of the 2006, 2007 analyst class are associates, how many of them are in PE funds and how many of them were fired and settled on something else.
Hours are much better on the S&T side, but the intensity is different.
Exit ops - A lot of guys move into HF or to other banks to grow/develop a desk. There is a lot of movement between different banks as well.
On the Sales side - it's the same as IBD on a senior level. If you own the relationship, you get paid. On the junior level, you're really just supporting the senior guy. The org structure is much more top heavy on the S&T side, meaning more promotion opportunities.
On the Trading side - it's about your ability to get a book and show that you can make money. The parallel with IBD is that no matter how good of a modeler you were, there isn't upward momentum for that type of role unless you leave. On the trading side, if you're good, you'll get paid and get more opportunities to expand.
eric you are discounting the later banker. Sales is first of all an easy bullshit thing to do.
VPs and MD's in banking have it much better than associates/analysts. Exit ops are not to be ignored either. PE/VC/HF are all easier coming out of banking than trading. fundamental HF's are a shoe-in. Not to mention its relatively easy going from IBD to S&T than the other way around. S&T pidgeonholes like none other.
The thing is, if you like the markets and trading, the fact that you are "pigeonholed" doesn't really matter... you're just a specialist in a product.
Differences between trading and banking career advice? (Originally Posted: 06/03/2011)
Most of the advice on this site is focused on breaking into banking. There is an underlying assumption that the advice is meant for people interested in banking. Trading, however, is a totally different career. In this thread, can we point out which pieces of advice meant for bankers are also applicable to trading, what is less important, and what is not important at all? Can we get a comprehensive list in this thread? Then wannabe traders wouldn't get confused by all the advice on this site meant for bankers. For example, when someone says, "X is a target school," they actually mean that X is a target school for banking. The school might be shit for traders. It can be misleading. I don't want to discuss which is better, trading vs banking. I want to distinguish advice meant for bankers versus advice meant for traders, ie breaking into trading vs. breaking into banking. I'll get the discussion started with a few: A quantitative major is more important than business for trading Trading interviews are more technical. The set of target schools is slightly different. Different personalities survive better in the trading world (able to handle risk and control emotions) In trading, you are judged by your PnL. Pedigree and networking are important, but less important than in banking. Anything else to point out?
I think you are looking for the 'trading forum', theres tons of stuff focused specifically on trading.
i-banking v/s trading (Originally Posted: 10/24/2011)
starting as an 'Associate' soon after MBA...... 1. i would like to know how many hours does a "Trader" has to work per week as against "investment bankers" 2. how many days per week. 3. who has the more chance of making $100 million dollars in 10 years of their career. 4. who has more pressure and stress in their job ??
thanks for your replies in advance,
... you almost graduated from MBA, and you haven't figure this out? Been living under the rock, eh? 1) & 2) Trader - market hour + read up your shit.... Banker, 80 - 100 hours a week, you get the idea, depend on the deal flow. 3) 10 years down the road, realistically speaking, you probably won't make 100 million either way. :( You want to make 100 million, then you need to be your own boss. 4) Trader.
i have not yet done my MBA..... i just assumed the starting of my finance career after my MBA thats why i have mentioned 'starting as an Associate soon after MBA'..... i just finished my undergrad.......
1) & 2) Does a Trader need to track only one market per day or 2-3 Markets/day coz latter would increase the number of working hours and you have not mentioned whether its 5 days a week / 6 days a week working pattern for Traders and ibankers. 3)whats the median earnings for 'ibankers' and for 'traders' on a career of 10 years starting as an associate. and also if one starts as an enterprenuer, which has the more probability of earning 100MM i.e. a Finance firm like PE/VC firm or a tech firm like an internet startup in 10 years ??
i take it you're doing your MBA at the Bumblefuck Skool Ov Biznes at the University of Idaho
if you think you are going to make 100MM you are sorely mistaken.
Please don't cross-post. Pick one forum to post in.
sorry for cross posting.... i have not yet done my MBA..... i just assumed the starting of my finance career after my MBA thats why i have mentioned 'starting as an Associate soon after MBA'..... i just finished my undergrad.......
lol, 100MM? might as well try for a startup. lol
Why the fuck you need 100MM anyway? 5 is more than enough.
You are not going to earn $100mm, stop thinking about that. Typically you will trade one market but will probably work 1-2 hours either side of market hours. Unlikely to work weekends I'd guess, but could be wrong.
You do realize, don't you, that $100K/year in NYC is roughly equivalent to $35K/year in any other part of the country, right? That's how much you'll be keeping after student loan repayments and NY/Federal taxes, and that's IF you land a job on the street as an associate.
Check out IIM/IIT. Don't you get really cheap tuition if you are an Indian citizen? Major NYC and London banks consider it the MIT or Oxford of the Eastern hemisphere, but we don't hire much elsewhere.
If you can get in there, it will save you $150K over an MBA from Harvard or Stanford.
yes definately. i have plans of doing MBA at IIM in forthcoming days. btw, how to add u as my friend in this site. i am a newbie but looking to build network over here.
This isn't banker facebook bro.... you cant add people. Why not try doing banking in India? It will be easier. Also no offense but IIM student's english/grammar are amazing, I know many IIM grads.
You go to IIT undergrad?
Adarsh..being from India and having worked in both USA and India, I thought I should share some insights. Getting into Banking/Trading (core finance roles) is as difficult in India as it is in USA. Over the years MBA also has lost some of its power and does not serve as a guaranteed career changer anymore. I was in ur shoes and did my engineering from a good school in India..worked in IT for 6 months but then luckily realized that if I continue in IT, I would be one of the millions working in the IT pool in India(you must be knowing how it is)..decided to come to the States and did a one year Masters in Finance. I landed a mid office role but kept trying to break into IB. Unfortunately my Visa expired and had to return to India. Luckily the firms in India respect good finance experience and American education, threfore I have some IB interviews lined up. All I wanted to say is that breaking into IB with a non finance background is difficult, so if you really want to break in, its a lot of hard work. Assuming you want to go for an MBA, I would suggest to try and network and get an year of finance experience before going for MBA. Also do not compromise on schools, be it USA or India. brand name matters. Just curious, how many years have you worked in IT? Which college?
Also, 100 mn is unrealistic. A finance career will allow you to lead a very comfortable life..but 100mn comes to very very few(MDs may be????)
I have sent you a private message plz reply to it.
quality of posts @WSO is turning into dogshit
If you want to make $100 million in banking then you either need to become a superstar trader or become a C-suite executive.
I dont think MDs make 100mm ... the CEO of Goldman does make that much....... you want big money go start a hedge fund/Private equity fund......or the next facebook
Facebook is valued at 56 Billion... i dont want that much money.... just a 100 MM or 1 Billion. btw, whats the requirement for starting a hedge fund/private equity fund..... what kind of work experience gives knowledge in starting a hedge fund/private equity fund like is it ibanking/pe/vc/equity researcher/trader...... ??
I might seem little crazy but i am serious...... my ambitions are high :)
Banking V Trading (Originally Posted: 09/20/2006)
Beside me is a trader at my firm. He's picking on me for being in the office. He's here because he forgot his wallet at his desk and he decided to come up and fuck with me. Anyway, we keep going at it with respect to our two professions. He says trading is 100% better than banking, I say it is better, but is not 100% better.
Assuming you're not just making this up, ask him what he would do if he got fired. Going back to business school is not a good answer.
Hours: 60-70/wk 80-100/wk Pay (jr level) up to 140 up to 140 Pay (sr level) 0-the sky 500k-100mm Dress: usually bus casual suits quant ability high low verbal ability low high level of BS low high who has more sex: traders
zala, youre a douche. go fuck yourself.
It was a serious question, you fucking weirdo. But I guess you're just making this up, so nevermind.
he says he would gamma hedge and ensure his alpha never dropped below the regression line of a basket of tech betas.
i say that, b/c you started off with saying "assuming ur not making this up" who makes this shit up
You do, because you admitted that you're considering trading in another thread. You are also, as you say, a "dysfunctional fuckup," so I never know what to expect.
Tell him I said that I guess we should all do that and become traders, since apparently it's so hard to fuck up and lose $5 billion (see today's news).
Dan...seriously - you think traders have more sex??
traders pissed me off as an analyst, but having stuck it out, i'm glad i'm in IB. if they get paid more than me, its because they've had quite a stressful year of open positions and have gotten lucky. yes, lucky - these guys are basically gamblers, playing with the firm's money. i don't need that hassle along with the fact that everyone on the desk needs to feel like the biggest SD on the dancefloor. pathetic.
Zala, This is the trader Dan is speaking of. He is right, you kind of are a douche bag. You are pretty sarcastic for a college kid hoping to break into the industry. You would position yourself better to drop the sarcasim, for you have no authority on anything. I wish I knew your real name. I would blacklist your ass.
whats a SD
If you were at this moment sitting next to this supposed trader with a big mouth, he would've been able to answer that for you.
sorry - "swinging dick"
I'm already "in," ace (full-time offer). If you're real, taht is.
I'm serious: what would you do if you got fired? If you want an honest debate about pros and cons of banking, then stop being an emotional little bitch and address my argument.
Dan - your trader friend sounds like an ass
you i like
zala, just fuck off. hes gone. but ill say it for him. youre a douche.
Tell "him" I said thanks for backing down from my argument.
livingthedream is right. hes a cocky guy. most traders i no are. livingthedream likes me. damn girl, at least one person on this board likes me.
Calm down, she doesn't like you in that way.
zala hes gone. he doesnt care about arguing with some fuck on the internet. hes off to some bar or something. traders have lives. damn i wish i was a trader
HAHAHA
Your an imaginary friend is off to an imaginary bar? Seriously, Dan, just answer the question. You seem confident that trading is better anyway, so go ahead, back it up.
b/c you work less. duh shithead. why would you want to work 30+ more hours for the same pay, actually often times less.
Taht wasn't my question, you silly virgin!
Dude, didn't you say in a previous thread how you didn't even want to go to business school and wanted to stick in banking for life?
Check the back warning label of your roids. See if it says anything about "causes user to contradict themself making them look like an ass".
I would change brands if I were you..
not all of us are on NY time...yes, its a late night for me, but not that late!!
any trader i know (dan - note the use of K and W there) is cocky..but honestly, i don't KnoW why...their earning power is below mine, they are SO tunnel visioned and if you tested them on the fundamentals of a punt they'd probably cry
actually assfuck, if i had the choice between staying in IBD or Bschool i would pick ibd. thats what im doing. i am expressing remorse that i didnt get into trading outta college. fucker shit fuck.
Ladies and gentlemen, "roid rage" at its best.
what do u mean livingthedream, clarify on that tunnel vision thing
i'm talking about trading the technicals vs the fundamentals.
Dan - i don't know whether you're still in college or whether you're in the industry, let me know and i can tailor my responses to you
so what, whats wrong with roid rage. at least im not a skinny wannabe finance fuck. fuckin a
im a second yr
i no they dont trade the fundys. he makes markets and coordinates with prime. thats there job. tunnel is fine for that.
Market making isn't going to be around for much longer. Technology has drastically reduced the number of traders a bank needs for market making. 1 or 2 traders can do the job that 10 used to a few years ago.
The only thing that will be left is proprietary trading. Keep in mind that traders make money by being on the right side of the bet. If you are on the wrong side, you are fucked.
not really though dan, i work with enough people who have worked through a number of cycles. trading techs is fine for the ST, but you are going to get bitten on your ass if you don't understand the fundamentals..like we're seeing with amaranth. no one i work with would have taken that spread bet. no one.
tunnel might work for a bit, but it also gets your ass fired.
youre assuming prop though. for flow the tech are it
get canned at DB for pulling the same shit?
I read he earned "$75-100mm" last year after raking in $1bn for the firm
yup. i think he took in 800mm though
i still wouldn't want his job..i'm pretty risk adverse
70mm though , you would never have to work again
Yo, you seem like a pretty cool guy.
I have one naggying problem though.
How do you have time to constantly post so much. Arent you like doing banking shit all day. And shouldn you be having a life with your spare time.
Not trying to diss you, i think its a valid question man.
once you get in youll find out why. i have to be in the office. so any free time is cut right there. from 9-5 i am dicking around. the work comes in at 5. people do their work fr0m 5-12. when ur on excel, most people fuck off anyway and look at other things
lol...say hi to ur trader friend for me....when are u people gonna learn to ask for advice instead of making up these fantasy scenarios???
I Banking vs. Trading - What do you learn? (Originally Posted: 03/24/2008)
What are the differences in the skill sets that you pick up from doing 2 years of analyst work for an I Bank vs. doing trading?
HUGE generalization but banking you learn more about how deals are done and fundamental analysis while trading you learn more about markets and your specific product
Easier to go from M&A ---> S&T rather than S&T---> M&A after 2 yrs?
generally yes, but why would anyone ever want to go from S&T to m&a?
Trading vs I Banking (Originally Posted: 10/13/2010)
I hate to say this, but I am 100% convinced iBanking is 10x better for your career than trading. Not a one of you can convince me. I have interviewed maybe 20 traders and bankers.
Ok?
glad you agree :)
Is this your attempt to provoke people into trying to convince you that you're wrong? What the fuck?
Perhaps you should ask Buffett, Soros and Icahn about their stellar Ibanking careers.
I don't agree, I just don't see your point. Earning power of a top trader is infinitely higher than a top banker, but trading is a lot riskier than banking. Trading can be more intellectually stimulating and rewarding than banking. Trading is more of a meritocracy than banking. Trading has better hours than banking.
But so what. If you want to be a banker and banking is more appealing to you than trading, then go be a banker. Nobody has to convince you of anything. Or maybe go interview some more people and write a book. Regardless, what's your point?
I guess you guys are right. I stand fully corrected.
banking is a means to an end, pe > trading too
if you were a trader your handle would be tradinghelpsmegetmyzzzzzzz
Trading or banking .... which work experience is better for MBA (Originally Posted: 04/22/2011)
I have made up my mind to do my MBA from a top school. Currently I am a Rates trader at a big bank and have a rare opportunity to move into i banking. I am wondering experience wise which will look/ work better for a top MBA school. I have heard traders are a rare commodities in MBA schools and hence it might look better on my application. any thoughts?
Back office operations would be ideal.
PMd you
do what will make you most satisfied... if you enjoy trading and don't feel like leaving then don't leave because you think it may be more beneficial for your b-school opportunities... you can gain admission to a top MBA program from a trading background for sure, and being in banking won't make it easier... b school ad coms tend to lump banking candidates all together and don't really split hairs as far as groups and firms with the exception being extreme outliers... point is, you just need to think on what you want to do post-MBA... if you want to go work in PE, then doing a banking stint before doing the MBA would be beneficial... if you want to go to a Hedge Fund then it isn't as critical, as you can make that move from your experience trading...
Do what you want; I don't think anybody can tolerate ibanking just for bschool admissions. I don't see many traders in bschool, but that is more a function of a typical trader's career path and the smaller size of S&T. You would be about the same either way.
I am not sure how it is at your bank, but generally traders can move up without MBAs. And most hedgefunds, except for the pedigree shops like Baupost and Soros, generally only care that you can make money.
Rufio is right on the money. Think about what you want to do post MBA, then start getting relevant exp now to help with recruiting.
I've been wondering the same thing OP.... so I will post in this thread so I can see if anybody has posted after me
right. now.
I agree I shd kind of figure out what i wanna do post mba and then decide ..... Somebody told me since there are not too many traders in mba ( that is just because you dont need an MBA to go up the ladder) it'll separate me from the crowd
IBD/S&T Questions (Originally Posted: 10/01/2014)
Hi,
I was wondering if it is harder to get an interview for IBD than an interview for S&T at the same firm?
I ask because if it is easier to get an interview for S&T, I might just apply to that. I heard for IBD you need a higher GPA or something?
Also, what do they look for in your resume's that are distinct for S&T vs. IBD?
it's probably easier to apply for HR so you should gun for that
Not trying to be a dick, but if you can't be resourceful and use the search bar in the top right hand corner, you most likely wont be an effective analyst to begin with; there are sooo many topics on this particular question.
@"qs344" it's funny how easy it is to be a dick behind a computer screen
@"SocratesIsMortal" also I already searched and couldn't find anything I found useful
Does anyone have any actual insight into my question?
yeah, my insight is if you're basing your decision to apply to one of two vastly disparate fields in finance on GPA "requirements" you shouldn't be applying to either
@"qs344" it's a strategic decision. I don't care which field I work in really because all work in banking can be learned easily. I just want a job in the field. Could care less about S&T or ibd
you're going to hate your life. enjoy
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