Why does everybody want front office?
I'm just curious because I see about 70 percent of the posts of people wanting to do S&T or IB,
What I don't understand about S&T is that those jobs are slowly disappearing to algorithmic trading because 80 percent of volumes are from high frequency trading, which is done by computers. They just fired the ten traders we have and replaced them with programmers. Could anybody verify this?
With IB I don't understand why people think that if they can't become an IB, that they will have no future at all. IB does have some great exit ops, but even your first few years you aren't paid AMAZING for how many damn hours you have to work.
Even if I personally had the chance to be an analyst at an IB, I wouldn't do it because the hours are ridiculous and you don't really see the benefit until after 3 years (if you even make it that far).
Could anybody clarify any of this for me?