P&L by Desk
I worked in CCAR team before so I was able to see all desk’s P&L.
Here is what an average trader will make in each desk:
a. under $25MM
Repo / Cash Equities / Security Lending / Commodities / Automated Market Making / ECM / Spot FX / On the Run Treasury / TBA / Investable Index
b. $25MM to $50MM
Corporate Credit (Investment Grade and High Yield) / DCM / Rates / Securitization / Muni / Equity Derivatives / Delta One
c. Above $50MM
Structured Product of Any Asset Class
Thanks for sharing! Which desk pays most nowadays? High yield credit? Or different banks pay same product differently? How big is standard deviation?
Really depends on the bank and size of the desk. Some banks are amazing at equities vs. some are better at FICC. Within that, certain banks are great in HY and others are ranked low (even if the firm is great in fixed income). Usually illiquid products with smaller teams pay the most across the board.
there is lots of devaition from avg...on a desk maybe 1-2 guys make alot, and 4-6 guys make 20-30% of that
Totally agree with you. Revenue for some desks are huge, but their bonus not so good because they need a big tech and quant team.
Thanks for providing this. 3 questions:
Thanks.
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