Atmosphere Equities vs Fixed income
I have been doing an internship this summer (in London) and have been spending most of my time in Fixed Income. However I also managed to sit on the Equities trading floor for a bit and found there was a significant difference.
I thought people in Fixed Income a bit too serious and the atmosphere a bit stifling in terms of interaction i.e. people don't talk that much. I like to work in an atmosphere where it's possible to have a chat with the person next to you without them thinking you're strange or stupid or both because you want to talk about something outside work or make a joke. I would say I am a relatively serious person actually, I was drawn to FI originally because I have a maths background.
If anyone agrees/disagrees with the following thoughts your view would be appreciated
1) The atmosphere on equity derivatives desks in better than in equivalent fixed income desks 2) The difference in atmosphere outlined above is true across all banks 3) People in Fixed Income are too serious for my liking 4) Being an intern in S&T is worse than being an analyst because you have nothing to do
I found equities to be a more joking and relaxed place than FI. However, only been at the FI desk for a month now.
I think it depends on what you product you trade in fixed income.
If your on a mortgage or government bond desk, the atmosphere will be different than at a credit correlations desk. Especially at Citi or Credit Suisse were there is still guys from Saloman, First Boston roaming around.
I interned at a fixed income prop desk last summer and we had a very loud desk, with lots of banter going on.
In the future whoever, I believe that trading desks are going tone down. The macho culture of the 80's is long gone and is going to diminish as the old guard leaves.
I disagree with your last post as well. I interned at one desk the entire summer, and my desk head gave me a ton of work
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