Rates Vol TA -> FO Macro Sales?

Based on the most helpful WSO content, your decision should hinge on your long-term goal of becoming a Macro PM and the skills and exposure each role offers toward that path.

Key Considerations:

1. Current Role (Rates Derivs TA):

   • Your current role involves technical tasks like booking, pricing, scenario analysis, and trade idea pitches. While these are valuable, the lack of a market-making book until VP level limits your direct trading experience.
   • Being in a remote office further reduces your visibility and networking opportunities with the London-based desk, which could hinder your progression.

2. Macro Sales Opportunity:

   • A front-office, client-facing role in Macro Sales would expose you to a broader range of products (rates derivatives, FX options, structured solutions) and allow you to build relationships with clients.
   • Sales roles often provide a strong understanding of client needs, market dynamics, and product structuring, which are valuable for transitioning to a Macro PM role.

3. Path to Macro PM:

   • As highlighted in WSO threads, desks like EM, FX, Vol, EQD, and Rates are favorable for transitioning to a Macro PM role. While trading experience is ideal, sales roles can also serve as a stepping stone, especially if you gain deep product knowledge and market insights.
   • The exposure to macro products in the sales role aligns well with your interest in markets and macro.

Recommendation:

If your ultimate goal is to become a Macro PM, the move to Macro Sales could be a strategic step. It offers: - Broader product exposure. - Client-facing experience, which is highly valued in buy-side roles. - A clearer path to transitioning into a Macro PM role, especially if you leverage the relationships and market knowledge gained in sales.

However, ensure that the sales desk provides opportunities to work closely with trading and research teams, as this will enhance your understanding of market strategies and macro catalysts.

Sources: S&T Sales, https://www.wallstreetoasis.com/forum/trading/qa-senior-financial-services-executive-fixed-income-equities?customgpt=1, HF exits from macro vol desks?, Path to Macro PM - job ad requirements, Sales in S&T - What's the catch? (best job in banking)??