IB to S&T
How common is this move if I want to hit a derivatives desk. Is it possible to move to the buy side trading options?
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Not common, and even less if you want to go from IB -> trading. I would dare to say nearly impossible at a top bank. You have stats/CS majors from top schools applying to those spots so hard to convince a desk head to give the spot to an IB analyst.
Much more likely is a move to sales in the derivatives space, or perhaps trading at a Middle market type of bank. But even then, it’s a stretch unless your background is unusually attractive.
So how would I convince a derivatives desk coming from a non target with a finance degree?
I’m an incoming algo dev on a BB trading desk, so don’t wreck me if these are wrong. I’m just trying to be helpful. Through my limited experience interning as a dev working alongside traders and quants, the following are an ordered list of things to consider before applying for a “mobility interview.”
Must be skilled at:
• quick mental math
Must have conversational understanding of:
• current market news
• “market microstructure”
• pricing models/techniques
Good to have understanding of:
• coding concepts
• risk management concepts
• various derivative products
Advantages:
• technical undergrad
• technical masters
Unfair advantages:
• target-school technical undergrad
• technical PhD
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