Deutsche FIC SA27
Does anybody know the best flow desks at DB? What are the return offer rates like? Any insight appreciated
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As in specifically just flow (market making), cos almost all desks will be running some risk, obviously some more than others. Rates and fx desks have got good rep. but in EMEA take a lot of risk compared to most bank desks.
I’m in nyc, would you happen know the scene there? Also I’m trying to take risk as soon as possible. Is this easier at fx and derivatives desks rather than stuff like credit?
I'd say stick to macro (rates and fx) thats where DB is best. Easier to get risk early on on macro linear desks because the risk is simpler and liquidity is better if that makes sense. So easier to understand your positions, enter/exit trades etc. FX is the most automated product so spot FX trader numbers have gone down significantly, most doing more complex stuff. Linear rates or fx options probs best idea and DB is good there. (That's the short answer, usually just best doing what you're interested in, you work hard and you're good and you'll get risk. Whatever anyone says bank trading desks do still take meaningful risk in places, and DB macro products defo do)
Thanks man this was super helpful !
Distressed, rates, securitized products, and FX. FX is super automated. Stay away from credit outside of Distressed. FYI, there will be at most 3 trading seats for your class (there was 1 for mine) and securitized products almost never hires grads as traders, although I believe they're hiring a new junior CLO trader. If you want a trading seat, you will have to be very, very, very determined to get one. Also, they've split up financing and S&T tracks for the grad program. So the downside of not scoring a trading seat is ending up in a sales seat.
This was really helpful, looks like will have to recruit ft to hedge against sales seat…
It's hard at every bank. Even Moreso coming in as a new grad.
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