Feeling stuck Rates Trading An2
Currently a 2nd-year analyst on a linear rates desk at a tier 2 dealer (think WF, UBS, etc) and feeling stuck . mostly clipping bid/ask with little mentorship and no real book to point to yet. I like the people around me and they all are smart, but I want to be somewhere with stronger senior guidance and a culture that actually encourages risk-taking, not just client flow. Long-term goal is to work macro RV at a HF or active real money shop, and I know a top BB rates seat would give me better prep and credibility for that jump. Anyone here made the move from a flow-heavy, low-risk seat to a more prop-oriented desk? Would love to hear how you positioned yourself and got your foot in the door. Been scared to network across the street so far at risk of my current bosses finding out. Any advice is greatly appreciated thanks
If it's WF, things are supposed to change in the near future to allow more risk? Regardless, would recommend networking anyways, especially if you know the desk is expanding (check online job postings). Wouldn't worry too much about seniors on the desk maybe hearing a rumor you're asking around.
at the 2 yr point, head hunters should be reaching out to you. try to get a sense of how much pnl youve clipped so u can quantify how much value ur adding. then u can go to either ur boss or in buyside intvw's w real data to get closer to having a book or to get out.
flow-heavy seats benefit from u also being able to observe smart clients trade - keep track of what theyre doing, the EV of their trades and try to emulate and understand it so that u can start pitching trades to the senior guys to put on.
also, people move around all the time so i wouldn't be worried about networking around. most people are interviewing or at least picking up headhunters' calls elsewhere, even ur senior traders. just don't talk about it to anyone at work and ull be fine.
Really appreciate you sharing all that it’s super helpful. Something I’ve been curious about is how you recommend handling those early conversations with headhunters or traders at other banks. Should I be straightforward that I’m looking to move and if so how should I explain the reasons? Thanks again
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