What are some exit options for S&T Associates in FI/Rates?

Question

Are S&T Associates (credit/rates/fixed income) pigeon-holed into their desk/field on sell-side or can they also exit to buy-side?

Mimbs · Accepted Answer

From what I have seen at least in non-rates FI products is that you start getting better looks at buyside opportunities once you make VP.  Which makes a ton of sense as you are most likely not getting your own trading book/client list of any real size until you make associate and then you have to prove yourself and build relationships with the buy-side accounts that you want to work for.  Trading tends to get better looks than sales but a lot of the buy-side traders job is information filtering and pitching ideas to the PM so you see sales people become buyside traders.

ironnchef · Answer

This was from my experience trading on a BB rates desk...where carrying more than 100k-200k of outright directional DV01 risk was generally frowned upon for the junior traders (of course, some client flows put you to much higher position sizes, but the traders are expected to hedge those flows when it was reasonable to do so).

So, on a treasury desk, it was generally acceptable for anybody, to be long or short 100mm-200mm 10yr notes (or the DV01 equivalent anywhere on the curve) whenever you wanted...and spread risk could be of course be larger....but the avg trader without a large P&L cu

ironnchef · Answer

if you are good...then you can goto the buyside and trade rates...that's where most all of the best rates traders end up going.

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What are some exit options for S&T Associates in FI/Rates?

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What are some exit options for S&T Associates in FI/Rates?

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