Difference between S&T and Asset Management
Hello, I'm currently looking for internships and I don't know which section is the most suitable for me. Particularly, I don't see the difference between Sales&Trading and Asset Management. Personally, I don't want to do Sales (I'm more technical than social). If I would describe my dream position, it would be a position where I do research about stocks (only stocks), develop new strategies and trade equities based on own decisions instead of just executing customer orders. I think Prop Trading / Hedge Funds would be most suitable for me, but as I have zero experience it will be too hard to get an internship directly. Does this match more with S&T or Asset Management (or even something else). Thanks.
What you're describing is a lot more like Asset Management
Sales & Trading has two main roles: * Sales: Sells research to Asset/Fund Managers so that they will execute trades with S&T desk. * Trading: Finds a way to process & execute large orders from Asset/Fund Managers, through the markets
Asset Management has about two main roles too * Sales (Relationship Management): Finds funds/pension funds that will give Asset Managers money to invest with. * Trading (Products): Comes up with strategies to turn AUM into more money, Does more research/less client facing, Basically comes up with investment ideas for Portfolio Managers.
trading in AM has nothing to do with crafting strategy. traders trade stuff that the pms want in or out of their portfolios.
You're right, I just meant more like the Investment Analyst side of it.
Totally right.
BB S&T vs BB AM - Sophomore Summer Decision (Originally Posted: 10/19/2017)
So I'm a sophomore at a semi/non-target with offers from -- and --, and I'm torn between the two options and would appreciate any input.
My dilemma is that: 1. I'm not 100% decided on which one I want to pursue as a career. I'm not sure where S&T is headed as an industry, and I'm afraid I'll be pigeon holed. What do S&T guys do after 2 years? Do they just stay? Can you move to a HF or AM? What kind of skillset do I get if I end up on sales or become a sales trader. I also like the Idea of investing and I think thats where my heart is, I just don't know if S&T can get me there.
The BB AM role would be a good mix of both the investing side and the client facing side as it is rotational. It is technically PWM, but its a special group and not PWM in the traditional sense. I would be working with teams that formulate investment ideas, pitch those ideas to clients, and facilitate trades. In terms of skill set, I'm not sure where I'd learn more and which would set me up better for the future. But I still have my reservations about S&T.
Last, what will I make more doing? I'll be real and say comp is pretty important to me. Obviously I'd like to make as much as possible during my analyst years, but that doesn't matter too much in the grand scheme of things. Where will I make more at the Assoc/VP level.
Any advice is welcome. Thanks WSO
Tl;dr Sophomore deciding between a top BB S&T offer, or a top BB AM offer. Also undecided between BB AM vs BB S&T as a career and looking for guidance/advice.
Take AM and don't look back. S&T is not what it used to be.
What if the AM might be PWM for sophomore summer. Would it be worth passing on BB S&T for a PWM role UHNW clients, and then move into Institutional AM (which is where I want to be) for my Junior summer even if its still client facing?
I just feel like the skill set and what i would learn would be more on the S&T desk. Idk I'm torn.
BUMP
Decision is between --- and --- for sophomore summer..
GS IMD blows BAML S&T out of the water.
Really, wow. I think I'm going to choose -- regardless since I'll be able to lateral into a strictly Investing group my junior summer (I'm rotating between portfolio management & Trading and Sales this summer so it should be an easy transition for my junior summer), or I could check out any other group.. Goal is to be an PM in the long run.
Doing GS IMD as a sophomore would open up a world of opportunities for you in PM if you take it.
BAML S&T will do the same but GS is probably more well-regarded in the PM world.
Comp is completely dependent on how well you perform for bonuses so I wouldn't be too picky about that unless if you're extremely competitive. I'd probably take GS though.
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When did you have your interview and how long did it take you to hear back?
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PM me.
S&T vs AM vs Research vs Other Careers in the Financial Markets (Originally Posted: 03/19/2011)
Which of these is best for econ majors interested in the financial markets who are also well versed in finance/business/stat and why? I'm a former athlete and am interested in trading and investing but am not sure yet which of these paths would be best for me.
Are you familiar with the different roles within each division and what they do? If so, there's nothing much we can tell you and you just have to make your own mind up about what you want. Sounds like any of these (S&T/AM/Research) will fit you if you enjoy following the markets. Trading is more fast-paced and short-term focused than research and AM.
If you're not familiar, then you should say so instead of asking which one is "the best."
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