I'm currently considering switching to a syndicate desk and was wondering if anyone can speak to the hours/opportunity to move back into FI trading. I'm on an IG underwriting/trading desk currently, and am kind of fed up with the city I live in and an opportunity has presented itself in another state I like so considering the switch. Any light on pay and mobility would be greatly appreciated. I've heard a lot of people actually enjoy syndicate, but I'm kind of worried about bonus (I'm generating decent PnL right now, so my overall comp is really good). Any info appreciated - Tuna.
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The hours are dependent on the product and the volume of deals. Some products are more like banking hours (IG/HY) and other more trading hours (Munis/Structured Products).
Pay and Mobility- Very firm dependent, at some firms syndicate is very powerful in the trading/capital markets banking ecosystem and have the ears of senior management and at others not so much.
Unless you really don't like your city or the opportunity allows you to move from a regional firm to a BB (think Stifel to JPM) I would pass on this. Moving to syndicate after having trading experience tends to be a one way ticket. Most of the time you see this move it is with very senior traders who are sick of trading, don't want the stress anymore or cost too much. Traders run the show in S&T, and I would not leave a trading seat unless there is a major advancement in title/firm or a comp guarantee to go to syndicate. Seems like a thankless job, sales people yell @ you b/c you don't give their clients enough bonds, and banking yells at you b/c they over promised a level to the issuer.
Happy to discuss in more detail over PM.
PMed :)
agree, trading better than syndicate
What’re you archiving 3 yrs old posts because you didn’t get the response you wanted?
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