Exotics Trader vs Structuring at BB
TLDR: Should I accept an offer as a Structurer at a BB or remain as an exotics trader running one of the main books at a non-BB?
I am currently 3 yrs into my role as an exotics trader and running one of the main books here (not a BB nor a firm known to be strong in derivatives). I’m debating on going to a BB for a structuring role.
My main motivations are career prospects (BB brand name, better exposure, covering a variety of products) and compensation. However, I would be giving up trading and running my own book which is something I like. Is this worth the switch? Would appreciate any insights, thanks
What’s your comp like now?
Below street average, not a lot of expectations for this year either
What even is street average for S&T these days?
Am sure you should have a broker who could plug you with a better opportunity (Paris, Frankfurt have you considered?) but structuring is like being gang-ban*ed by trading and sales.
If deal goes well, sales will claim idea origination and trading will claim they are the ones who take the risk, leaving you without much credit if all work was done by you. In contrast, if things go south, everyone will point on you for mistakes.
However, best of luck if you choose BB and respect for betting on yourself!
If only about comp, BB trading >> BB structuring (source : i did structuring for 3 years before moving to trading)
So if you view it as a stepping stone maybe…
What do you think market comp is for a structurer at the VP level?
300-400, sometimes even less, most people get stuck there for ages unless they get a bid or get more responsibilities/reports then they break the cycle for few years and get stuck again.
it‘s unfortunately just not a function that is valued as much as it should and regularly gets the short end of the stick. People are not necessarily of lower quality and the job not uninterresting.
But i’ve seen it play out countless times (for me and others). If you are ambitious you feel constantly shortchanged compared to trading, and even more compared to sales as you feel they just repackage/forward your work…
What about trading of structured products like a variety of exotics/investible indices
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