Best trading desks at GS?
Title. What are the best trading desks at GS?
As much detail as you can provide is helpful, as I recently got an Global banking and markets offer but don’t have much knowledge.
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If you have a STEM background: Rates vol, macro credit, credit portfolio trading/algo, energy/power trading. Fx options and distressed are also great desks that don’t necessarily require coding knowledge
How is equities or equities options? Feel like I don’t know much so those might be ones I’m more familiar with the products of
Would definitely avoid cash equities at all costs. Equity derivatives has some decent seats, but they usually won’t specify which desk you’ll get a return on and instead you’ll receive a generalist equity derivs offer. Some of these are also at risk of automation
Disagree with other comment. The desks you want to be on are: equity vol, rates (most sub-desks within that), and maybe commods if you are specifically interested in that. The first two are the same across most banks tbh.
edit: maybe also some parts of mortgages, which is primarily a USD market; also that EQ desk that trades index rebalancing (think it falls under portfolio trading or something...)
agreed
May I ask which desks within equity derivs you mean specifically? Not disagreeing with you, but I think it’s a bit broad of a category and also share some of the same fears of automation as the other commenter in the flow products
Vanilla flow vol (i.e. the options desks) - I don't have insight into single stock vs index, but assume worth learning both. Completely agree that prop shops have taken over those markets, but vanilla flow vol is still one of the better vol seats at a bank (alongside rates options; I don't know enough about commods vol...) if you are interested in options trading. Desk P&Ls will be high and thus pay will be better.... Also, if you are good then maybe you can move over to one of these other shops (CitSec, JS, Optiver, etc).
As others said, exo is less prone to automation but exotics desks usually appeal to slightly different candidates (almost always STEM). They can be great jobs and pay can be high, but it is a different style of role.
Also depends on what you are optimizing for. Buyside exits, career longevity, GS career progression, fundamental analysis?
if ur aim to go HFs then linear rates, rates vol, fx vol maybe swaps would be best bet.
commodities is a bit more specific and would pick that if u think its interesting to work in
props have taken over a lot equity linked products and the ones that aren’t at risk of automation (exotics) don’t have great HF exits but are a shout if u want to stay in SnT longer term
Emphasis on distressed/HY credit! The non-quant desks aren't receiving enough love in this comment section
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