Do people recruit for s&t roles anymore?
Sounds like S&T is a bunch of algorithms and programs now instead of people doing trades? Every networking session seems to have a few guys from S&T with like 3 people lining up to chat, different from IB which has the rest of the room eager to chat with the team. Anyone else notice this or know why?
Based on the most helpful WSO content, it's true that the landscape of Sales & Trading (S&T) has been changing due to automation and digitization. Here's a bit more color on the situation:
Automation and Digitization: There's no denying that S&T, especially on the trading side, has seen a significant shift towards automation. Equities trading, for example, has been heavily automated, which has reduced the need for traditional traders.
The Role of Sales: Despite the automation in trading, the sales roles within S&T still require a human touch. Sales professionals in S&T maintain relationships with clients, provide market insights, and offer the bank's execution services. They rely on strong communication and interpersonal skills.
Recruitment: Firms do still recruit for S&T roles, but the focus may be shifting towards candidates with a combination of market knowledge and technical skills, given the industry's evolution.
Networking Interest: The observation that fewer people line up to chat with S&T professionals compared to IB might be due to a couple of factors:
Why S&T Still Matters: Despite these changes, S&T remains a critical function within banks. It's about providing liquidity, executing trades, and managing risk. The skills required for S&T are evolving, but the sector still offers rewarding careers for those interested in markets and trading.
If you're considering a career in S&T, it's important to stay informed about industry trends and consider developing a skill set that aligns with the future of trading, which includes a blend of market acumen and technical prowess.
Sources: What do S&T people actually do?, 2019/2020 Sales & Trading Bonus Discussion, https://www.wallstreetoasis.com/forum/investment-banking/should-i-pursue-st-or-ib?customgpt=1, Does sales in S&T require a quant background or programming skills?, Sales in S&T vs (Tech) Sales
Maybe because people nowadays are expected to be better at the technicals (math, programming), not for all but for quite a few roles within S&T. Since a lot of people don't have that kind of skillset/ background, they try to get into another high paying role for which they might have a chance.
Media/news coverage has been pushing S&T dying, automation etc, probably affecting people's choices the most.
its more competitive now than ever imo
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