BNP Paribas Fixed Income S&T SA
Long time lurker, first time posting>
I have an SA offer at BNP Paribas in their fixed income division. Really liked the people and like their growth prospects. I am thinking of taking it but had a few questions:
- Whats their FT compensation like? On par with street?
- Whats their perception on the street? Strong/weak desks?
- Anyone else working or offered at BNP have some insight to shed?
Thanks!
1 Good friend of mine was just offered BNP Paribas in NY office for FT. Comp is 75+10, 85k before bonus. I couldn't believe it either. 2 Perception on the street? They're some French bank with a massive market cap. Filled with former lehmanites/bear stearns/ML guys. They just started recruiting really heavily at targets. 3 I heard that their "growth prospects" was something they pitched a lot. Like I said they just started to hire heavily directly from undergrads and plan to continue doing so in larger classes if all goes well. If it's your only S&T offer I wouldn't hesitate to take it. Their office is based in Times Square, a rented out building. You'll hear people talking French in the hallways--had a friend who interned there two years back tell me stuff like that. Not too shabby though. If it's just a SA stint then you can always lateral for FT.
When did you interview with BNP? I noticed they closed the posting for the summer associate positions on 2/13 so I'm wondering if there is any point in getting my hopes up for a request to interview.
I interviewed a few weeks back. I didn't apply online but via my school's recruiting. If anyone has anymore experience with BNP I would definitely appreciate it. Right now, I am moving forward with the offer so getting some perspective would be good.
Hi, I just got the full-time interview from this company, could please share some information about this job? And what will the first round interview be like? Thank you!
hey, i have full time interview with them too. is this for analyst position or associate position?
well, if you're undergrad, it's probably analyst. Grad, then associate most likely.
i had bnp final rounds about two years ago...thought i did well but it was in heart of crisis and they decided not to take anymore...anyway, from what i remember, this was for fixed income assoc. sales.,
what does it take to be good sales,etc.?
if two credits have the same cds spread, two different sectors (think lets say gs vs. goog), does that mean their pdefault is same...answer is no, which i got, because of...recovery rates
last tranch of a structured product...better to be correlated or uncorrelated?
price a bond in your head. pen/paper...just a rough idea.
recent trends in the market.
What's your answer to Q3?
Intuitively, I'd reckon weak correlation helps to provide further diversification of risk.
Take an example where you are the holder of the bottom 1% of the structure and 1% of the assets default on average. Would you rather have 1.) Zero correlation and see around 1% defaults with low variance or 2.) perfect correlation so that all the assets default together or don't default together.
I suppose the crux of the question is, would you reckon it worthwhile to expose your position to the risk of contagion effect - for 2)the probability of default would be higher with seemingly lower losses (since if all other assets default together, your losses should be mitigated); in 1) you're liable to far bigger losses, although that's compensated by a reduced risk in that happening depending due to its low correlation with other assets.
All said and done, you then need to consider what other assets actually comprise of - are we talking about just a two-asset basket where correlation plays a rather significant influence; or a multi-asset basket where the relative correlation between any pair of other assets may offset the risk undertaken by correlations between the said asset and other assets in the basket.
bump.. does anyone have more recent information on BNP's Fixed income division? its strengths?
this maybe a stupid question, but i just wonder does the "last tranche of the structural product" means the AAA or the equity tranche?
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