Trading Floor BS
HI All
I'm an Associate in S&T on the sales side. I've had a good experience so far but changes have taken place at work which puts me at a disadvantage (reporting to not so friendly higher up). My resume looks a little hoppy given I've moved around almost every 2years, 3 times now and I want to avoid doing that. However, I feel staying here may be hurtful for my career if I don't develop into a value-added resource (i.e. get fired).
Question:
1. Should I look for other opp internally?
2. Should I look for opp at other shop?
3. Should I try the buyside?
4. Should I go to b-school?
5. Should I shut the F and stick it out?
Thanks all!
so you are 6 years into your career in sales...at this point...you should be a revenue producer with your own accounts.
so, what are your numbers?
I started the sales role 2 years ago as an Assoc. Before then I was in other positions, not in sales. No numbers yet. Good, bad or normal?
Thanks! You've helped twice already!
2 years in sales and you have NO accounts? That’s not good dude, you’ll get booted if you don’t generate some production here soon.
ok....so 2 years in sales...what exactly do you do in your day to day? what do you want to be doing?
OP, can you provide a little more info on your background? Everyone seems a little lost...
I'd like a little more information about your history and progress. But generally, I'd say put your resume together and figure out what your weak spots are. Then try and improve those on company time before trying to go someplace else. That's assuming you feel like you've topped out.
Echoing the comments about providing more context about your background. But based on the fact that you've been an Associate for 2 years and have 0 accounts, I'd say you're not in a good spot.
Hopefully someone more senior in S&T can confirm/correct me, but at your point, you should be generating at least $3mm for your desk every year.
You have no accounts after 2 years? I hear Nomura is hiring.
All, I apologize for the delay in reply. It seems while traveling my comment didn't post. ... This is more feedback than expected! Thank you all for giving your perspective! I’ll go through the above to clarify a bit more in a quick summary:
@ want2trade - day to day: (1) backup senior coverage on the more complicated accounts/trade styles (think macro) (2) training with different senior coverage with same product group but ‘friendlier’ accts - What i want to do is learn the more sophisticated products in and out, sell them like I trade it, and start getting on the phone on my own
I believe with the new guys coming out on the rotational programs - they'll have better luck and squeeze me out unless I start making some $.
I'm noticing that im not making inroads with the traders or the new senior guys im supporting. i dont give up but theres a part where you feel like s***. Anyway, just blowing off steam.
Thanks all for your input.
sales is equally about the social aspect vs the technical aspect. Customers trade with the salespeople that they like. You should be going out with accounts every night. That's really your job now. Wining and dining...drinks...helping the customers flirt with girls (don't ask...just do it). Find bars / clubs that best matches the dark desires of your customers (so, you need to get to know each client, so that you can hit their personal tastes)...take the customers out and get them to have a blast. Start hosting regular weekly parties on thursday nights and invite all your customers. Make them feel like kings...and they will throw you business.
agree 100%... every good trader has a best friend at every shop... you need to be "that" guy for your shop with your customers
I wouldn't go to b-school if you want to stay in finance. I don't think it makes sense to leave markets and then come back to markets. This is usually a disadvantage I believe.
doesnt make sense for 90% of people in finance but i have seen several change their focus within finance and b school was the ticket to make that happen...
I certainly wouldn't drop out to get an MBA, mostly a waste of time and money. If I was you, stick it out, possibly consider the CFA? That's an option that many overlook that I feel will greatly add to your resume and your skill set. This might be the extra boost you need to be flexible and find other opportunities.
HI Monkeys,
Wanted to give an update here. So, I've received a performance review and can say it was certainly shit. Whereas the prior two years were raving glory from MD's (no longer with firm), the current one stands out pretty badly. In all, it says I am behind on my knowledge of products and can't have a book anytime soon. I'm told to start backing up more sales folks. Am I getting fired or is there still a chance?
This is life. Will deal with it. But doing it smartly would probably be the more strategic idea.
Sales is a very entrepreneurial business role (similar to trading)...its your job to make things happen...nobody can hold your hand. You probably see the senior sales guys just sitting around, chatting on the phone, sending out bbg messages and then customers call for a trade. What you don't see is those senior sales guys wining and dining the clients on the other end of the phone at night...and that is why the phone rings.
If you are not entertaining clients (doing whatever they want to do)...the phone will never ring for you.
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