Trading after Ibanking

Do banks hire analysts (after their 2yr stint) for S&T positions? If they do, what level do you enter?

Signed a contract for 2yrs in banking, looking to move to trading after. What are my best options, S&T or HF?

5 Comments
 

it happens sometimes. probably easier to move into the credit products. def could move to a hedge fund and do credit research

 

Not within the same bank, they will push you towards research. Thats where your skills will be focused (At least Equity land).

Hedge fund is your best bet. You would probably start off as an analyst. Why do you want to move after 2 years? Why not just go for trading straight away?

 
Best Response

Most of the new hires to trading floors I've seen come out of official school recruiting programs, or as experienced hires from other trading desks, but not as career changers. You may be able to pull it off within your firm or at other firms IF you can personally get to know people on your trading desk of choice and see if they can hire you outside of the HR umbrella, but you are talking drastically different skill sets. What you're talking about is really a career change and better accomplished by going to get an MBA or master's and then changing. I know on my desk if someone we didn't know came up with only IB analyst experience we'd be very hesitant to take them on, and if we did, they'd have to start at the level of a brand new analyst out of undergrad because they'd have to learn the markets, quant stuff, systems, etc. You're sure as hell not going to get a promotion of any sorts coming from IB. The reason desks would rather you come from a campus recruiting program is because then HR covers most of your pay for the first year or year and a half, so you're essentially free labour. Coming from IB your starting from scratch, so you won't be able to produce right away, so the desk won't be too keen about paying you out of their money (vs. HR's), unless you get the position through personal connections.

 

"The reason desks would rather you come from a campus recruiting program is because then HR covers most of your pay for the first year or year and a half, so you're essentially free labour."

this is only partially true...all the of the desks kick into the analyst pool, so it's more accurate to say you're a sunk cost.

 

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