Pivot into S&T?

Based on the most helpful WSO content, here’s what you need to know about pivoting into Sales & Trading (S&T) from corporate banking:

1. Feasibility of Moving from Corporate Banking to S&T

• It’s definitely possible to transition into S&T, but it will require effort and strategy. Internal moves are often easier than external ones, especially if your bank has a strong S&T division. Networking within your firm and expressing interest to the right people (e.g., HR, S&T professionals) can help you get on their radar.
• Externally, the move can be more challenging, as S&T roles are competitive and often require specific market knowledge or technical skills. However, your corporate banking and consulting background can be leveraged to demonstrate client management and analytical abilities.

2. Desks to Target

• Rates, FX, and Credit Desks: These are realistic targets given your interest and background. Your corporate banking experience likely involves some exposure to credit markets, which can be a good starting point.
• Sales Roles: If you have strong relationship management skills from corporate banking and consulting, sales desks might be a natural fit. Sales roles in S&T often value client-facing experience and the ability to build trust.
• Trading Desks: While harder to break into without prior market experience, focusing on desks that align with your knowledge (e.g., credit or fixed income) can improve your chances.

3. Skills to Focus On

• Market Knowledge: Start reading financial publications like WSJ, FT, Bloomberg, and broker research to build a strong understanding of markets. This is critical for both sales and trading roles.
• Technical Skills: Learn Excel modeling, basic programming (e.g., Python), and tools like Bloomberg Terminal. For trading, understanding risk management and pricing models is key.
• Networking: Build relationships with people in S&T, both internally and externally. Attend industry events, reach out to alumni, and schedule informational interviews.
• Pitching and Communication: For sales roles, hone your ability to pitch ideas and communicate effectively with clients.

4. Timing for the Move

• 6 Months to 1 Year: Staying at least 6 months to a year in your current role is advisable. This shows commitment and allows you to build a track record. Use this time to network, develop relevant skills, and position yourself for the transition.
• If an internal opportunity arises sooner, don’t hesitate to pursue it, but ensure you’ve built enough credibility in your current role.

5. Additional Advice

• Take Risks: As one WSO thread suggests, you’re still early in your career, so don’t be afraid to take calculated risks to pursue what you’re passionate about.
• Be Persistent: Breaking into S&T can be tough, especially with the industry’s downsizing trends. However, persistence, networking, and skill-building can set you apart.
• Consider an MBA: If the transition proves difficult, an MBA can be a great way to reset and recruit directly into S&T.

By focusing on these steps and leveraging your existing skills, you can position yourself as a strong candidate for S&T roles. Good luck!

Sources: Transitioning from tech to a serious finance job (yes, you read that right), Transitioning from Tech Sales to IB, Q&A: 25 years Sales / Trading Experience, Conversation with an Equities Sales Trader, 2019/2020 Sales & Trading Bonus Discussion