Sales Trader Vs. DCM FIG
Hello guys,
I always read posts on forums and ask myself 'why not me?'. I'm seeking for your help.
So basically, I got offers from two different things :
1- DCM Fig / Leading Investment Bank
2- Sales Trading / small (unknown) broker, in Credit Carbon & Biofuel products
I'm super interested in Sales Trading as we are directly front liner, speaking/dealing with clients but I'm not sure about the exit Opps, especially by joining a small (unknown) broker that has been in activity for only a couple of years.
On the other hand DCM has been really interesting in corporate (got a first exp into), but i'm not that sure about FIG. The opportunity in itself seems way more stressful, but maybe the reputation/recognition worths it.
The jobs are ofc on different product, but by the end not super different in the daily life. I think it's possible to get DCM position from Sales Trading in a couple of years.
Does anyone have any view on this ? What do you think about the exit opp/Salary/evolution ? What could you consider ?
Feels like you know which job you’d actually prefer doing. Whilst the DCM job at a big bank will invariably have better exit opportunities, if you end up quitting the job because you’re miserable after 6 months it’s a bit pointless .
Alternatively, you could go into the DCM job and look to pivot into S&T. I did a markets internship before switching into the IB track and loads of people came from DCM/ECM especially in teams like FICC trading and prime brokerage. I think this is more common at American Banks.
Again, it seems obvious which is the ‘objectively’ better choice from exit ops etc, but if you won’t be able to motivate yourself to enjoy the DCM job, no amount of exit ops will make it worthwhile in my opinion.
Thank you, really appreciate your insight!
Finally gonna go for the Sales Trading, and then why not switching into DCM in some time.
Since when is DCM split across coverage groups?
It isn’t, usually only FIG gets “it’s own”. Usually split is
FIG
Corporates
Sovereigns
I would go to DCM. The sales trading position’s focus is too niche. If you don’t like it you’re screwed because you’re at a small shop in a small market.
DCM will give you a good grounding of macro which will always be helpful, especially if you want to go into Sales Trading later.
DCM for a year, then ask to switch. Very doable, just get a good review and people will bat for you
Good luck!
If its STX Group or whatever, don't do it. PM me the sales trader shop, will keep it anon & give my 2 cents
Why not?
Still hold a grudge for these guys. wasted the hell out of my time as a senior back in 2016. 8 rounds of interviews lmao
Saw a guy start in S&T for a year, then move to a capital markets role for a year, then got to an EB.
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