Institutional Sales - what it is?
I’m trying to understand Institutional Sales as a career, particularly in London, and there seems to be much less information about it compared with IB, PE or HF.
I’d appreciate some insight from people actually working in the industry.
Specifically:
* What do you actually do day-to-day? How client-facing is the job, especially at junior levels? How much time is spent talking to clients vs markets/research/Excel/admin?
* What’s the practical difference between Institutional Sales, Institutional Equity Sales and Equity Sales Trading?
* Prestige: How are these roles viewed within a BB compared with M&A, Trading, Equity Research, ECM, etc.?
* Compensation: Realistic London base + bonus at Analyst, Associate, VP, Director and MD levels?
* Lifestyle: Typical hours, weekends, travel, conferences, client dinners, etc.?
* Clients: How much interaction do you actually have with PMs, hedge funds, asset managers, CIOs, etc.?
* Career progression: How difficult is it to reach MD and what does the job become at senior levels?
* Exits: Where do people realistically go after Sales?
* Sales vs M&A: What are the main advantages and disadvantages of Sales compared with M&A?
Most importantly, does Institutional Sales genuinely become a highly relationship-driven, client-facing career at senior levels, or is the reality more analytical / screen-based than it appears from the outside?
Would also appreciate any honest opinions on what people like and dislike about the career.
From what I’ve seen, the biggest misconception is thinking institutional sales is basically just taking large orders from hedge funds and mutual funds. There’s definitely an execution side to it, but a lot of the value is actually in the relationship with the buy-side — knowing what a PM or analyst cares about, getting them relevant research/market color, connecting them with the right people internally, and understanding their needs.
Sales trading overlaps quite a bit, but the execution component is much more central there. A good institutional salesperson is really a bridge between the firm’s research/trading capabilities and the client. You need to know the product well enough to have an intelligent conversation, but also be genuinely good with people. That combination is probably what makes the role difficult to automate completely.
Voluptatem dolorum quae tempore unde est id. Earum dignissimos velit dolorem sequi. Aut provident voluptatem doloribus ipsum. Ipsa qui numquam eum cupiditate tempora omnis et consequatur. Rerum occaecati eaque nisi similique modi.
Quia inventore molestiae ratione sed consequatur et enim voluptatibus. Aliquam est libero et fugiat ipsam eaque rerum inventore. Dolores laudantium deleniti veritatis natus quos rerum. Dolores culpa totam quia exercitationem maxime repudiandae. Ut at quo corporis et.
Commodi labore et quia distinctio exercitationem sapiente. Quo omnis maxime atque. Corporis qui dolores necessitatibus debitis culpa. Cum porro commodi quis ut quis recusandae. Vero alias consequatur ad possimus excepturi porro.
In nobis non illo fugiat impedit. Tenetur quia ab cupiditate consequuntur autem quasi nesciunt est. Sit dolorem ipsum fugiat quidem. Voluptatem mollitia qui iure natus sequi nesciunt ex. Rem magnam id voluptates error quod voluptas.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...