Do traders still regularly take clients out/drink with them on a regular basis? Assuming the world goes back to the pre-Covid days, should I expect to going out regularly to dinner/drinks (1 yr analyst at BB)? I ask this because I wanna embarass a VP by drinking him to the ground.
Aug 04, 2020
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its the sales people (not traders) who take out clients for meals and entertainment.
Not really happening during covid...but prior to covid (and i'm sure after) this aspect is alive and well. Sales is a relationship business...especially when the product is a commodity (the same regardless of which supermarket you buy it from)
Disagree with above poster, traders did and still do take clients out for drinks/dinner to an extent, ibviously not as often as salesppl but nevertheless. Traders will often have their own clients at other firms they deal with directly...you’re not cut off from the outside world.
Also, more than anything you will likely just embarass yourself and lose any shred of credibility/respect if you drink too much at social functions with senior around...have a few drinks and have fun by all means but this isn’t college anymore
As a former buyside trader, yes, sales teams at banks are still taking their clients out for meals. It is really not that cool though.
as a 1st year analyst - most likely wont get a look to anything worth going to. The boring stuff sure...free steak is nice but not worth the time spent with the decades older rep in town from Omaha who has 1 glass of wine and makes you feel awkward when you want to order another
At junior levels this doesn't happen often. I know a few sales guys that for the 1st and 2nd year went out with senior sales and clients maybe once every 3 months
this depends on the senior sales people and the personality of the client base....some will take their juniors out with them 3 times a week...others not at all.
for example, if the client is young and wants to bro-out...and the sales person is older, then usually they will bring some of the younger guys and gals to create an energy conducive to creating a positive environment. personality goes a long way in sales...
that's a good point. It doesn't apply to my previous bank but definitely makes sense
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