BB Algo Trading Group Salaries
What is the comp for entry (and low experience) positions in Algo trading in BB NY banks?
(ie positions from salesman, quant, developer etc)
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do you know of BB algo sales positions still open?
no i do not but am just wondering what comp is like in algo groups
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To my knowledge, algo groups are phased out at BBs. With Dodd-Frank and the passage of the Volcker rule, prop groups at big banks are gone. Someone else can correct me if I'm mistaken and some algo groups have slipped through...
"Algo" at a BB means a sellside quant desk (providing execution, DMA, etc); a similar term is "electronic trading".
Algo desks are not a prop desks (which are pseudo-buyside). Almost all of the BBs have algo groups, for instance GS, MS, CS, DB, and Barclays.
Btw, the Volcker rule is not yet in effect.
Ah, I appreciate the education! I was only considering the algo trading/HFT used by hedge funds and in the past BB. Electronic trading doesn't have nearly the same role in fixed income yet.
And you're right, Volcker is not yet in effect, but banks are still moving into compliance in anticipation of its effect.
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