I have an interesting opportunity to enter a top Emerging Markets S&T group as an experienced analyst. I have always found Emerging Markets to be interesting, but I must qualify this -- I only find it interesting because I know nothing about it (so who knows if I would find it interesting or not). However, I'd like to do the necessary research to get an understanding of Emerging Markets, S&T, the culture and the pay. I'm sure it differs across groups, but if anyone has any experience, it would be greatly appreciated. Some of the things I'm looking for:
-The culture -- hours, pay, mentality, collegiality, etc. -- not just of Emerging Markets, but S&T in general -Emerging markets -- what, in general, does this include? Is it generally FICC, or is it both? -Reading -- any suggested reading for either Emerging Markets or S&T? -Interviewing -- what's the process like? What technicals need to be known?
By way of background, I'm currently a top 1st year analyst at a MM bank in IBD. I know the IBD concepts cold, very strong with technicals, and, as my boss would say, I "just get it." However, I am not a quant by any means. I know how to price bonds and what-not, but I imagine there are many more qualified than I if this is a highly-quantitative role. FWIW, this is an S&T gig and I believe more focused on the S than the T.
I'm trying to get caught up to speed as quickly as possible, so any contributions are welcome, and I thank you for your help in advance.
My opinion, taking into account the fact that I'm still an undergrad:
I've never really understood why people group "S&T" together when talking about analyst roles on this site. First of all, is it a sales gig or trading? Second, is it in EM Credit, EM FX or EM Rates? Some banks group EM FX and Rates together, but EM Credit is always seperate I believe. Also, you're likely to be interviewing for a specific desk rather than an EM generalist role, especially if they're bringing you in as an experienced hire so you need more information about which desk you're interviewing for i.e. LATAM Credit? Rates? Maybe even broken down further into USD/EM Country Rates etc.
Culture will differ from desk to desk, both within the same bank and across the industry.
Reading - depends on the above
Interviewing - depends on the above
Analysts at some BBs spend time in both sales and trading. Experienced people also switch back and forth sometimes. Sales and trading roles have become more blurred over the past decade.
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