rates- exotic or flow trading?

Hey guys

I'm going to be a SA in Fixed Income Trading this summer and I will be on one desk the entire time. All I know is that I will be working in rates and HR wants to know if I prefer flow or exotic. I don't really have a preference right now and I'm just looking for some feedback on what you think is more attractive right now.

6 Comments
 

right now risk aversion pushes more activity towards flow rather than exotic, but a lot of the flow guys (rates and fx) are worried b/c algo systems are reshaping the way flow is done. For the long run, if you have a strong math background i'd say exotic, but for the summer i'd say flow.

congrats on the position, that's a keeper.

 

you'll get much more out of understanding the players in a market than on an exotics desk which is probably thin as shit right now anyway.

 

In good times I would say exotics without a doubt. You would learn a lot more, it would be way more challenging and you could potentially make more moeny depending on the desk.

But now exotics is in bad shape, so I would pick flow as a defense move.

 

Quam debitis ducimus ea possimus a eos soluta. Perferendis consequatur excepturi dolorem molestiae quia voluptas.

Quam possimus vel sit illo. Ullam quos velit id voluptatem omnis quis. Tempora sed ut consequatur inventore adipisci reprehenderit blanditiis quae.

Ut voluptates commodi velit voluptate quas sed. Aperiam voluptatem repellendus quae fuga odit qui iste. Quidem quo dolore corporis maiores suscipit.

Maiores ut id necessitatibus necessitatibus. Alias dolorem necessitatibus eos ipsum cumque sint. Numquam rem atque voluptatum dicta dolor. Voluptatibus eum aut optio sed.

Jack: They’re all former investment bankers who were laid off from that economic crisis that Nancy Pelosi caused. They have zero real world skills, but God they work hard. -30 Rock

Career Advancement Opportunities

September 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.4%
  • Guggenheim Partners 02 97.9%
  • Morgan Stanley 06 97.4%

Overall Employee Satisfaction

September 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Morgan Stanley 02 98.9%
  • Evercore 01 98.4%
  • Banco Santander 02 97.9%
  • BMO Capital Markets 12 97.4%

Professional Growth Opportunities

September 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 05 98.4%
  • Goldman Sachs 01 97.9%
  • JPMorgan No 97.4%

Total Avg Compensation

September 2026 Investment Banking

  • Vice President (16) $429
  • Associates (56) $261
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (28) $184
  • Intern/Summer Associate (16) $161
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (76) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
kanon's picture
kanon
99.0
5
Betsy Massar's picture
Betsy Massar
98.9
6
GameTheory's picture
GameTheory
98.9
7
CompBanker's picture
CompBanker
98.9
8
dosk17's picture
dosk17
98.9
9
DrApeman's picture
DrApeman
98.9
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”