Goldman Macro Research Role, transition into trading
Came across this role: https://higher.gs.com/roles/150781
I am currently applying to a bunch of positions, mostly ones with a trading focus of course. However, I want to cast my net as wide as possible without closing doors to trading. Obviously the role is only ancillary to trading (and maybe not even that) - would it be difficult to transition to a FICC desk later on?
If this is possible, I would not be opposed to applying as I enjoy doing macro research and am willing to do what it takes to get on a trading desk. I'd imagine the research has a practical component - e.g. we expect ECB to remain hawkish -> here is a steepener idea.
Based on the most helpful WSO content, transitioning from a Goldman Macro Research role to a FICC trading desk is possible but not necessarily straightforward. Here are some key points to consider:
Relevance of Macro Research: Macro research can provide a solid foundation for understanding market dynamics, which is valuable for trading. If the research role involves generating actionable trade ideas (e.g., "ECB hawkish -> steepener idea"), it could demonstrate your ability to think like a trader, which is a plus.
Networking and Internal Mobility: At a firm like Goldman, internal mobility is a viable path. Building relationships with traders on the FICC desk and expressing your interest in transitioning can help. Networking internally and having a mentor or senior advocate on the trading side can be crucial.
Skill Alignment: While macro research is adjacent to trading, the skill sets differ. Traders often need to make quick decisions under pressure, manage risk, and execute trades, which are not always part of a research role. Demonstrating that you can bridge this gap (e.g., by learning trading-specific skills or taking on projects that mimic trading responsibilities) will strengthen your case.
Timing and Persistence: Transitioning to a trading desk might take time, especially if you're not already in a front-office role. Be prepared to prove your value and wait for the right opportunity.
Alternative Paths: If a direct move to trading proves challenging, consider roles that are closer to trading, such as strategy or structuring, which might serve as stepping stones.
In summary, while the transition is not guaranteed, it is achievable with the right approach, networking, and skill development. If you enjoy macro research and are willing to put in the effort to transition, applying for the role could be a strategic move.
Sources: HF exits from macro vol desks?, Q&A: ex-bank trader now running crypto hedge fund. questions?, FICC sales trading desk, Routes to Buyside PM, Stay on commods desk at BB or move to glencore/trafigura?
Apply first and ask questions later
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