Sales side of S&T

Hey I am incredibly interested in the sales side of fixed income S&T. Looking into internships for next summer and would love to hear about anyone's day to day experience in the area and I could expect as an intern.

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Every sales seat is a bit different but at a high level it boils down into 2 basic functions

1. Distribution- Your job is to take the information coming at you and know what is important for each client and why and figure out a way to present it to them in a fashion that gets them to transact with your firm.  You need to have a feel for when and how to push both your clients and the traders to transact at a price that both sides feel good about. 

2. Relationship Management- In addition the to distribution aspect you are also going to be building and managing relationships with your clients and trying to figure out who they are as people away from the desk.  Your job is to be whoever the guy on the other end of the phone wants you to be and to figure out what he values from your or your firm.  For some people they want to be entertained (dinners, drinks, sporting events, etc.) others might want you to bring your traders or research team to their offices, its a lot of trial and error to figure out what people are looking for and how you can add value relative to the competition.     

As an intern you are not doing much other than listening in on phone calls, and shadowing people trying to figure out how and why their customers do the trades they do.  You will most likely be asked to do some sort of a sample presentation of a trade pitch to a client based on information given about that client or some background given to you about that client type.  Its very much a learn on the job type of thing, you just need to be in the environment and pay attention to what is said around you and you will pick it up.      

 

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