I have a friend entering UBS's grad training ops program. No she doesn't want to be a banker/trader.
Her interest is more strategy oriented and the ops program includes a program called "change the bank" which i suppose is making processes more efficient, etc.
if she gets to choose which office--which would be her best option:
Stamford: HQ (huge trading desk), but trading floor ops seems more tedious
NYC: This is where the bankers are...what do OPS for bankers do?
Jersey City: ...
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I would think S&T ops could be more interesting.
I'm not sure what IBD ops does, but I would imagine its fee schedules, data room access, NDAs, lots of legal documents and BS, engagement letters, routing of funds when a deal closes, etc...
I would also think that working in S&T ops would give you better mobility options vs. IBD ops. Gaining S&T product knowledge could set you up well to transition onto the FO side... vs. whatever skillset you develop in IBD ops, I don't see how it could ever be relevant to transitioning into banking. I know you said she's not interested in a FO role, but even with that considered, the role which allows you more options and superior accessibility to other positions should be the more desirable role.
Co-sign on S&T ops having more mobility than IB ops from others I've heard from in the past (not just heard from, but they've actually been able to move to the desk). You work hand in hand with the traders and learn first hand how they do it.
thanks--but again to reiterate ZERO interest in an FO role. Interest is to become part of the internal strategy group--so I don't see how product knowledge would really be beneficial there.
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