IB to S&T
Currently an analyst thinking about wanting to join a trading desk so I can target more macro investing focused opportunities - is this a bad move?
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Based on the most helpful WSO content, transitioning from Investment Banking (IB) to Sales & Trading (S&T) can be a challenging move, and it largely depends on your long-term goals. Here are some key considerations:
Macro Investing Opportunities: If your ultimate goal is to target macro investing roles, moving to a trading desk could provide relevant exposure. However, keep in mind that macro-focused roles often value deep expertise in trading, market-making, or macroeconomic analysis. Ensure the trading desk aligns with your desired skill set and career trajectory.
Market Perception: S&T roles, particularly in equity sales trading, may not always be viewed as favorably as other areas like OTC derivatives market-making or macro trading. As highlighted in WSO threads, execution-focused roles can be limiting unless you have strong prime brokerage or capital introduction contacts.
Exit Opportunities: While S&T can offer a pathway to buy-side roles, the transition may not be as straightforward as it is from IB. IB experience is often more directly aligned with private equity or corporate advisory roles, whereas S&T is more niche and specialized.
Timing and Strategy: If you're early in your career, consider whether this move aligns with your long-term goals. Some WSO users suggest leveraging an MBA to pivot into a more targeted role, especially if you're looking to broaden your options.
Soft Skills and Networking: Success in S&T often requires strong relationship-building and sales skills, especially as you progress. If these are not your strengths, it could limit your upward mobility in the field.
Ultimately, this move isn't inherently "bad," but it requires careful planning and alignment with your career aspirations. If you're confident that S&T will provide the macro exposure you need, it could be a worthwhile transition. However, weigh the potential trade-offs in terms of exit opportunities and market perception.
Sources: https://www.wallstreetoasis.com/forum/private-equity/going-from-mm-investment-bank-to-mega-fund?customgpt=1, 34 year old day trader to investment banker, https://www.wallstreetoasis.com/forum/trading/sales-trading-vs-ib?customgpt=1, IB chance VS Ops sure thing, Advice I give to my incoming analysts
In same boat
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