Broker to Trader?
Hi all,
Is it common for a broker to move to a trading position after a few years of experience? or is it more common to move to institutional sales? or is it a dead end?
broking to trading is very unlikely as most traders look down on brokers. as always there are a few exceptions but i wouldnt count on it the transition to sales is more likely, but i would try to make the move after 2-3years tops so you can start on the sales desk as a junior and can build your client relationships
Holsson you dont know what your talking about. What tends to happen is brokers get content with making money without taking risk. The ambitious ones can move into trading roles at hedge funds. I would not call it the norm but its not unheard of either its just an option out there.
Brokers are basically institutional sales guys that work without a dedicated research product. A good broker makes way more than a top institutional sales guy... not even close to comparable.
so if i'm working in credit sales at a top bank, i could make that much more at an id broker i though pay for top guns for both was usually mid seven figures,,,why is sales so much harder to break into? know this cus my gfi thing was a piece of cake compared to banks?
I mentioned there are exceptions but it certainly doesn't happen often that a broker moves to a bank or a HF as a trader, much more likely is sales or marketing to investors. as a hf manager why would i take on a broker who has no experience with managing risk when i can pick a trader with a successful pnl record
M&A to broker to trader? (Originally Posted: 10/10/2011)
Have a friend a year into analyst stint in M&A looking to get into S&T. Would a broker position be a plausible segway into the sales and trading side?
I'm also interested in this.
From what I've seen, M&A and IBD in general is the easiest to network out of and a far better place to be 'stuck in' should he not get the job. There's a lot of debate on this, but I'd stick it out in IBD until a trading gig opened up. You can also use the pertinent M&A experience as a conversation starter: "after doing a merger between google and company x, I'm curious to know what trading in tech stocks looks like lately".
Just my two cents
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