Help With Fixed Income Ambiguous Job Role
So I interviewed under the premise that the "fixed income analyst" role was a fixed income desk analyst role.
Can someone help me understand the difference between a fixed income trading desk analyst and a fixed income research analyst? Would I be able to grow into a trader?
I'm pretty sure the answer is hell no and that fixed income research is something completely different from a fixed research trading team's analyst, but I want it to not be true.
Sorry I made this in a rush and made a bunch of typos. Basically, I just want to know if I can become a fixed income trader FROM a fixed income research associate/analyst seat.
At a bank, research will usually focus on generating trade ideas/analysis largely for clients, whereas a trading desk analyst usually works with the traders to manage their risks/positions specifically. More so a matter of who you are researching for, but would say desk analyst is generally a bit more fast-paced of a work environment as you sit on the trading floor and may have to perform in real time
Got it. It sounds like the research job is very quantitative. Would I have strong exit opps from a name brand MM bank?
Yes, research is a good role. Research can vary from shop to shop, but it's often client facing. Traders like to take researchers to discuss nitty gritty with clients. It makes them look good, and the researchers often know all kinds of things that clients want to talk about in that traders don't have time to model up and analyze. There is considerable overlap, and traders may even want to use insights gained from research in their position. It's not uncommon for sell side research analysts to move to a desk analyst or trading seat, at least at a junior level, but ultimately the research role typically will attract a different type of person than a trading role. A seasoned sell side research analyst might be more interested in buy side roles, than a sell side trading role. To be clear, in my opinion, a sell side research analyst is a respected position with attractive exit opportunities. I would recommend you seriously consider this role and whether it might be a good fit for you.
Thanks a lot for this detailed and well thought out response.
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