DCM?
Currently working in compliance at a lmm shop. I was able to get my SIE, Series 63, and Series 7. Did pretty well networking and they told me a few times that I would have a spot in the dcm group when it opened up. Which is what i wanted, I went to follow up yesterday and they told me now they want me to do S&T on the preferred equities desk. My question is should I still force the issue with the dcm group or take the S&T role and try to lateral down the line ( would those skills be transferable to DCM)
If there are no current openings in DCM, you could opt for the S&T Role. Although, because it's the other side of the market I am not sure if lateralling to DCM is highly achievable.
Are you dead set on DCM though? I mean from compliance to S&T is a great step up anyway, I would be quite pleased with that. Try a last push for DCM, and if it's not open, I would take the S&T. Anything is better than compliance..
I would say dead set, just because i have a very strong interest in debt. I get its the other side of the market but from what I have heard preferreds trade like debt more than equities.
Hi chimpin8890, what type of DCM are we talking about? IG or HY? Origination or Syndicate? In general though, fluency in global markets is always transferrable, as long as you do the transition not too late in your career. I get it, debt is on the other side of the spectrum, but within the same bank it shouldn't be an issue. Personally, I did DCM after Derivatives Sales (various ULs), and my understanding of the markets made me stand out. Even though DCM is a deal-based role, it's also extremely markets focused. To me it felt way more connected to the markets compared to what selling exotics felt like (much slower pace, lots of liaising to do, somewhat bureaucratic).
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