Traders & Product Control

Can any of the traders elaborate on the relationship between the traders and how product control supports them. What exactly do product controllers do? How do they add value to the traders? What are the differences in hours and bonus?

 
Best Response

From what I understand you will usually do a rotation throughout various trading groups/products. Most controllers do the financial reporting and quality control for the traders. IE. Trader says he made 5mil net profit over the month. You have to double check his numbers with the systems to ensure it matches before its actually booked to the GL. YOu might do this everyday, every week, every month, depends.

Bonuses from what I hear arent as good. Maybe 10-20k year end bonus. Usually 2 years analyst, then you pick your product you want to focus in on. The BB im at doesnt have associate level for their Controllers. Your 2 years as an analyst, then a controller for two years, then usually a VP, then SVP, then MD, then SMD, then THE CONTROLLER, then CFO.

The add value to the traders by ensuring that they are reporting the correct P&L on a day to day/week to week update. Also its a big fraud prevention process. Lots of SOX/FASB compliance.


Can any traders comment on how hard it is to go from Controller ----> Trading Desk. Considering you went through 2 years of 4 rotations through s&t ralated products/divisions. Is a graduate degree needed?

 

Ex quae delectus fuga quae distinctio. Facilis repellat vero vitae rem rerum numquam vel in. Praesentium accusantium iste reiciendis aliquam facere sequi modi quis.

Laboriosam occaecati voluptatem dolorum. Sunt sit dolorum qui autem doloremque. Consequatur laboriosam natus eveniet voluptatum autem. Itaque dignissimos temporibus necessitatibus adipisci modi impedit ea. Quia saepe rerum occaecati odit. Eos sed ab tempore nihil amet est veniam.

Et numquam officiis repellat aut aut. Fuga quis dolor tempora. Itaque sapiente velit ut sint deleniti quis et. Et sed quia et ratione sunt ullam id. Incidunt temporibus minima explicabo quasi dolore et.

Career Advancement Opportunities

May 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Lazard Freres No 98.9%
  • Harris Williams & Co. 25 98.3%
  • Goldman Sachs 17 97.7%
  • JPMorgan Chase 04 97.1%

Overall Employee Satisfaction

May 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.9%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 04 97.1%

Professional Growth Opportunities

May 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.9%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

May 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (21) $373
  • Associates (91) $259
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (68) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (148) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Betsy Massar's picture
Betsy Massar
99.0
3
Secyh62's picture
Secyh62
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
CompBanker's picture
CompBanker
98.9
6
kanon's picture
kanon
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
Linda Abraham's picture
Linda Abraham
98.8
10
bolo up's picture
bolo up
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”