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In the realm of Sales and Trading (S&T), the earnings potential can indeed vary significantly across different roles such as sales, trading, and structuring. Here's a breakdown based on the WSO Dataset:

  1. Sales: Individuals in sales roles within S&T are essentially B2B salespeople. Their compensation is heavily influenced by their ability to maintain and grow relationships with clients, as well as their skill in understanding and selling financial products. The earnings potential in sales can be substantial, especially for those who excel in building strong client networks and have a deep understanding of market dynamics.

  2. Trading: Traders are the market makers, and their earnings are closely tied to their ability to manage risk and capitalize on market movements. The top performers in trading can earn significantly, often more than their counterparts in sales or structuring, due to the high stakes and the direct impact of their decisions on profit and loss. However, it's important to note that these top performers are becoming increasingly rare.

  3. Structuring: Structurers are involved in creating complex financial products. While the document doesn't provide specific details on the earnings potential for structurers, it can be inferred that their compensation would be closely aligned with the complexity and demand for the products they develop, as well as their ability to innovate within the regulatory and market constraints.

Overall, while there are differences in how compensation is structured across these roles, all can offer substantial earnings potential, especially for top performers. However, it's also important to consider the broader trends within the S&T space, such as the general decline in the sector and the increasing importance of having "real skin in the game" as mentioned in the WSO Dataset. These factors can influence long-term earnings potential across all roles in S&T.

Sources: Sales and Trading - A Comprehensive Guide, 2019/2020 Sales & Trading Bonus Discussion, Sales in S&T - What's the catch? (best job in banking)??, Conversation with an Equities Sales Trader, Sales vs Trading

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