Prospective S&T asking for help
Hello, I am going into my Sophomore year of college and have been super interested in sales and trading. However, when I try to find content guides like that of someone trying to break into IB might have there does not seem to be too much.
While I have been reading and following both equity and crypto markets for the past 2 years the last thing I want to do is try to secure an interview without fully grasping the scope of the content I might be asked.
Any suggestions or guides that people have found helpful would be greatly appreciated!
Based on the most helpful WSO content, here’s how you can prepare for a career in Sales & Trading (S&T) and ace your interviews:
1. Understand the Role and Fit
2. Build a Strong Foundation
3. Practice Interview Questions
4. Engage in Practical Learning
5. Leverage Networking and Mentorship
6. Focus on Continuous Learning
By following these steps and utilizing the resources mentioned, you’ll be well-prepared to break into Sales & Trading and excel in your interviews. Good luck!
Sources: Sales & Trading Interview Guide - Gekko's Guidance Part 2, https://www.wallstreetoasis.com/forum/asset-management/sales-trading-interview-guide-gekkos-guidance-part-2?customgpt=1, Sales and Trading - A Comprehensive Guide, Q&A: 25 years Sales / Trading Experience, Q&A: 25 years Sales / Trading Experience
Tl;dr there isn't one in the same sense.
IB is a specific set of skills that's going to be ~~ the same across banks and sectors at a base level. In S&T each desk is a world unto itself and even people who's jobs sound very similar, don't fully understand what the other is doing (ie inst v corporate, or rates vega vs rates gamma).
Imo, this makes your job easier because there isn't the same preordained set of things to know going in. I would have a strong answer for "why markets", and a grasp of how the Fed / macro trends tend to affect things. It seems like you've been focused on the equities side, so I would recommend spending some time with FICC - for most banks this is the bread and butter business where the bulk of people in S&T actually sit. For following the market purposes, BBG puts out some great podasts (they're on spotify) and some banks also put their research podcasts on spotify. I personally am a fan of FICC Focus, At Any Rate, and Daybreak (reading research, even after doing this for years, is something I can't sit through). In terms of product knowledge, I would have the basics down (for FX, what is spot/fwd/swap, for rates what is a swap/cap/floor etc) and some idea of when to use. If you want to get realllllly in the weeds, I can recommend you some textbooks but it's likely overkill.
Last thing, interview process is ususally a hirevue (or equivalent) - then interviews with actual people, but they will often tell you which people ahead of time. Once you know, you can hone in on that knowledge, it's not possible to know every product, in every market (you will lose your mind trying to do this).
Good luck!
I appreciate the response and it makes a lot of sense. Thanks for giving some direction!
comment above describes it well, I also will mention salesandtrading (dot) org is pretty solid for high level knowledge of how this space actually works and what you might expect through the recruiting process
Okay, I will have to poke around on that. Thank you!
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