Hi I am a 26 Year old with an opportunity to get into Money Market Trading at a BB. I understand that Money Markets have been dull and boring as the short end of the curve has been held fixed by central banks. Hence last 4-5 years MM has just been funding the cash machine of the bank for ATM withdrawls
However next 2-3 years are expected to bring back volatile short end and hence i would want to ask those boys/girls who have seen vol in short end in their career to pls help me with the below. appreciate the help in advance
1) Career Progression - how easy would it be to switch to trading 2-5 years rates on an rates desk
2) Pay - are the MM traders paid well?
3) Interesting - would it be interesting? given the lack of risk apetite of BB banks, all the prop/trading would be limited to the short duraion hence my guess is MM desks will get to do something while long end boy will do nothing
4) ANything else you guys might want to share
Thank
could you please elaborate point 3 of yours.. just now had a conversation with someone and was told that major part of the job will be "cash management" and wouldn't entail much of what is proper "trading"
thanks a lot Martin- that was really helpful!
Listen to Martin. Money Markets are the base of everything, specially in rates. If you want to trade rates/macro it'll be a great education. I've always said it's the most undervalued desk by people who don't know the business.
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