CDS/CDX Trading Career?

Know a little about the CDS/CDX space, but was hoping to get a bit more of a sense for longevity, comp and potential career paths for people who are in this space. Seems to be a highly quantitative and rate vol like product. Whats the buyside community like for a niche product like this? How about CDX options?

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From my opinion, CDX vol is more versatile than rates vol, but I would argue it is slightly less complex as they deal with far less complexities on the vol surface. However, the underlying is more complex, so the two might be equally quanty overall. I may make the case that CDX touches a lot more asset classes and is more versatile in terms of which shops you can work at if you’re looking to exit. CDX looks at credit, rates, and equities, particularly when it comes to correlation, so it’s a highly macro desk that is a bit more broad with exposure. (I am talking about CDX vol specifically, not the linear side)

 

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