Hello, hope this note finds everyone well. I am incoming 1st year sales and trading analyst at a BB in NY, but unfortunately did not get the opportunity to intern in S&T last summer. As such, I feel as if I am a little behind the 8 ball. I was wondering if any sales guys or traders have any advice for an incoming first year analyst? I would appreciate any and all insight, specifically about: how to separate yourself as a first year analyst? I am leaning towards a career in sales. However, if I have the option is it in my benefit to do my first rotation in trading? Day to day differences being a first year in sales vs. trading? When will I get my own book of clients/book to trade on my own? Is the first year-two years primarily just shadowing and learning from the senior people on your team?
Thanks in advance1
I'm going to give you some advice of what I used to tell my analysts and associates when I was on the sell side.
You have a finite amount of time when you start. Maybe it's 1 month, 2 months, or 3. But use that time to ask as many stupid questions as you can and don't ask them more then twice. No one wants to explain to you what duration is after 6 months on the desk. It will only hurt yourself.
Sales day to day - writing color, booking trades and possibly backing an account up when the desk is thin and needs help. Ad hoc projects/research
Trading day to day - running pnl, checking risk positions, writing commentary on trading flows and possibly trading a VERY tiny part of the book depending on group in a backup capacity.
I'm gonna give you one very important thing that every analyst seems to forget. Don't worry about "when am I gonna trade my own book" question. Worry about what the f your doing first. You haven't even seen a day in the seat yet, worry about not fing up things and understanding the underlying products your desk trades/sells first.
I get the ambition don't get me wrong.
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