Desk preferences for incoming s&t analyst at BB

When selecting a desk as an incoming S&T analyst, here are some key considerations based on the most helpful WSO content:

1. Desk Selection Strategy

• Interest and Skill Alignment: Choose a desk where you find the product interesting and where your skills align. For example:
  • Equities: If you enjoy fundamental analysis and tracking specific companies/sectors.
  • Fixed Income, Currencies, and Commodities (FICC): If you prefer macroeconomic trends and broader market movements.
  • Solutions Desks: These often involve corporate clients and tasks like financial statement analysis, Excel modeling, and risk management, which can be transferable to other roles like IB.
• Desk Strength at Your Bank: The reputation of a desk can vary by bank. For instance, some banks are stronger in credit or rates, while others excel in equities or FX. Networking during your first week will help you gauge which desks are highly regarded internally.
• Recession Resilience: If you're concerned about economic downturns, desks like Rates or High-Yield Corporates may offer more stability, as they often see increased activity during recessions.

2. Networking Period Tips

• Use the networking week to understand how each desk operates, how they make money, and the culture of the team. Shadowing and asking thoughtful questions can help you identify where you’d fit best.
• Build relationships with both junior and senior team members. Analysts can provide insights into day-to-day tasks, while MDs can share the desk’s strategic vision.

3. S&T Job Market and Pay Trends

• Technology Impact: Certain roles, like cash equities, have been heavily automated, making them more relationship-driven and potentially less technical for young analysts. Desks that require deeper technical or fundamental knowledge (e.g., derivatives, credit) may offer more robust career growth.
• Pay Trends: While S&T compensation has historically lagged behind IB, it still offers competitive pay with better work-life balance. However, the field has faced headwinds, and continuity in S&T careers can be less stable compared to other finance roles.

4. Long-Term Considerations

• Focus on desks that provide transferable skills or exposure to high-demand products. For example:
  • Credit Desks: Offer experience in relative value analysis and macro trading.
  • Derivatives: Provide technical expertise that can be leveraged in other roles.
• Stay relevant by developing skills that technology cannot easily replace, such as client relationship management and complex problem-solving.

By targeting desks that align with your interests, skills, and long-term goals, while also considering the bank’s strengths and market trends, you’ll set yourself up for success in S&T.

Sources: S&T Summer Analyst Lateral to IB FT?, How to be a good S&T Intern, HELP: The Future of the S&T Job Market and Selecting the Right Desk, https://www.wallstreetoasis.com/forum/trading/qa-1st-year-bb-london-rates-trader-taking-your-questions?customgpt=1