I hear a lot on this forum about the death of sales and trading, but some BB's are showing 20% profit growth in that area. Is it really dying?
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It's not dying, it's just a lot of people are irrelevant and the bank is just catching up getting rid of useless people. When I was sitting at a bulge bracket on their equities floor, I had sales people sitting directly behind me doing non-sense work and walking around mingling with other colleagues, while the traders and sales traders were busting their ass off all day. In terms of volume, it definitely shrunk over the years. A lot of the vanilla been automated, which is a given. I was talking to a sales trader, who talks to the flow vol desk and they needed someone who was a good directional trader. I guess what I'm trying to say is, give yourself an edge, sharpen your skills and you'll be fine.
solutions-oriented desk will be around flow desk are dwindling every.single.day
The flow vol desk was losing money like everyday... I can see it
Can you elaborate on this? I get what flow desks are but what do you mean by solutions desks?
Thanks for the reply. So by edge, I’m assuming you mean some sort of quant skills (i.e CS experience )?
How much of that is from the reduction in corporate income taxes?
Or headcount reduction?
I remember joining this forum a decade ago when I was in my senior year of high school and this question was getting asked then. Then this question was getting asked when I was in college. Then as an analyst. Then the year after that. And now. The answer is always no, we need S&T for markets to function. The specific roles may change and the hot desks may change but S&T isnt going anywhere.
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