Long term career in sales & trading
I'll be starting as an analyst at a middle bulge bracket firm this year and wanted to get a feel for what the perception of the long term career prospects in sales & trading are.
Given the specialized skill set you develop it seems fairly easy to get pigeonholed and as the finance industry continues to feel the impact of technological innovation, where does that leave those beginning their careers in sales & trading?
I'd like to know as well. It seems like the skill sets are so different that lateral moves into more analytical positions that its a difficult move, HOWEVER sales is such a difficult role to fill it seems easy to enter the industry that way. Thoughts are appreciated.
The best piece of advice I can give you is to start networking. Get to know everyone you can in the industry and establish relationships with headhunters and colleagues at competitors, etc. S&T has never really been about job security or developing skills but the landscape (as you mentioned) has changed for the worse, especially in the last few years. Find out what types of skills people are looking for and work to acquire them (or appear like you did). The last thing you want to happen is end up out of a job after a few years without any real skills or any connections to help you move somewhere else. If you start networking early and maintain solid relationships, you'll find that you appear more in demand and can make savvy transitions as they open up.
Long-term career prospects in S&T (Originally Posted: 08/04/2016)
I just started FT at a BB firm. i was wondering what the take is for the long-term career prospects within the industry. Is it safe to assume I'll have a strong career 10-15 years down the line? Part of me is drawn to something more stable, such as accounting.
S&T and accounting are two completely different professions, with completely different risk profiles.
It takes a unique person to enjoy and flourish in S&T. If you're having doubts about S&T and are looking towards something like accounting, then I'd firstly suggest that you get some exposure to accounting. If you've already gained exposure to accounting, then you're probably going to be better off in accounting.
more than 50% of people who go into TRADING at a BB do not last 5 years...heck, most don't last 3 years. HOWEVER, if you are good, then you can have an amazing career.
Your "interview" has only just begun....take heed...
S&T career advice (Originally Posted: 08/24/2015)
Hi Guys & Gals,
Long time lurker here that needs a little advice on my current situation. I recently graduated from a non-target and have been lucky enough to secure two opportunities in S&T. One is a FT offer at a lower tier MM european bank in NYC which isn't a very big player in America. The other is a unique opportunity for a long term internship at a lower tier BB in NYC with the possibility of turning into FT (very close family friend is MD).
What do you think would be the better opportunity if I want to be in S&T long term? I'm worried that if I took the FT offer I wouldn't gain as good experience because it would not be as busy as the BB. On the flipside the opportunity at the BB is an internship with no guarantee for FT. Any advice would be greatly appreciated. Thanks in advance!
I would go with the SocGen offer
How long is the internship position for? And is the pay prorated?
Thanks for the reply. The pay is prorated and the internship should be anywhere from 5-6 months.
Hmmm, that's a tough one. How strong is the desk for the internship position?
Regardless, I would personally go with the internship at the lower tier BB. Even if you don't get a full time offer, you still have the internship experience to help you land another job. Plus, it's prorated and your other full time offer doesn't seem very appealing.
Good move to start a career in S&T? (Originally Posted: 02/12/2016)
I'm interested in starting my career in S&T at a BB firm. Though I wanted to get the community's take on if this is a good move.
Given continued automation and the increased regulatatory pressure on the industry, is it a good place to begin a career? Where will those who start in S&T today be 5 or 10 years down the line? The volatile and risky nature of the industry is a positive in my book, not a negative, but if the decline is linear and not cyclical, it may be worth considering other paths.
Bump
No, it's not a good idea. Pick a different career path.
Del
Is it a bad idea to get into S&T? (Originally Posted: 12/21/2015)
I'm a sophomore at a target and I have an offer in S&T at a BB, but I'm worried that this is a bad sector to get into with the layoffs that were just announced at Citi, and seemingly a lot of places. Should I be worried/what does the future of S&T look like/should I be looking for IBD offers/does my sophomore internship even really matter?
Thanks
BB traders are making less money with less job security than at any point in the last 30 years. That being said, no job is quite like being a trader, especially running a book as large as an ibank's.
If you do what you love, you'll never work a day in your life.
exactly what vol smile said. As a sophomore, its a great opportunity, commit for a summer, if you don't like it, well, then now you know.
might comfort you a bit
http://www.chicagotribune.com/news/sns-wp-blm-citi-job-cuts-6d98ca80-a5…
Do it. But be open to other things later. Its nowhere near as stable as it used to be.
i think it's good that you are a sophomore - if you don't like it, you'll have another year to try something new.
I was at a BB this summer that announced big changes that I think visibly stressed certain groups. However, I still think it was a good experience, though I chose not return FT.
S&T a good start? (Originally Posted: 02/08/2010)
As I have posted in this forum before some people might already know my background. in short I'm an entrpenuer going back to school for finance at Barcuch College in NY. I have no Finance background and one of my goals in life is to break in to IBD as an Analyst and move up to MD. I know what it takes and I am a strong beleiver I got what it takes.
I just landed a summer internship at a BB in S&T and was wondering if it would help in any way to help land an internship in IBD as an SA (when the time comes, of course).
I figured it would look good in the resume as this would be my first finance related job.
I have 2 years before I can be a candidate for a SA. what should I do next year as far as finance related?
Am I on the right track? as i have said before I come to this site for sound advice.
no, S&T is completely different than IBD. Most of the time you will be dealing with customers for hedging products or fixed income products, watch the market movements(LIBOR,currency,derivatives..ect), . IBD is prestige grunt work for 2 or 3 years.
BB S&T is just as hard to land, if not harder, as a BB IB role, so having it this early is excellent on your resume. I'd say it looks better than anything besides BB IB/Large Cap PE on your resume and it will get you interviews but you'd just need to say how you can transfer those skills to a banking environment
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