Buy Side Execution Trader to Sell Side?

I'm currently an execution trader at a $10B hedge fund. I take orders from 3 portfolio managers. 2 PMs send me orders directly and for 1 PM I'm executing based off a pre-defined strategy. I trade US, HK, IJ, and JP equities and equity options.

This is kind of boring and I'm thinking about making the switch to the sell side desks. I'm 26, went to a top 50 school, think Boston college, and have a 700 GMAT, and have my CFA. Would you say I'm competitive for a trading position at a BB? Is there anything I could do to raise my odds? Would the best networking be through the relationships I have through our counter parties?

 

Don't reach out to counterparties unless its someone there you can trust not to leak it back to your bosses. Have you considered going with recruiters who can go anonymously for you to employers? That's the safest way.

 

I made 85k + 40k bonus this year.

I think I'm feeling this way and wanting to make a switch because I'd like more decision making responsibility. As of now my PM's almost micromanage my trades and I'd like to be somewhere, either another fund, or a different desk, or a different role, where I'd have more of a say in how a trade goes.

 

Agreed. You should think long and hard as to whether you really want to switch to sales. I know a sales veteran who will tell you to tread lightly. He did it for two plus decades. He ain't doing it anymore for a reason. I would get with recruiters who can take your resume to bigger funds not sell side.

 
Best Response

I recruited for sales and trading roles (incl. execution traders) when I worked at BB. Terrible jobs (esp. execution traders), and I truly felt sorry for them. Definitely stay on the buy-side. Just move to a different HF--use your network. For your first year, your comp is just a bit low. $140-150K is more typical comp. If you're not seeing the appropriate compensation increases, then change companies every 3-4 years. And look before you leap (choose your next company carefully--watch for high turnover and widespread frustration). Good luck!

 

Hi Tr1p,

Any update to provide on your current job status? Would be interested to hear how things have been the last year, whether you stuck around at the fund or transitioned to a sell-side role? Did they take care of you comp wise for 2016? Thanks!

 

I had a fellow friend who was in a similar position. He spent almost two years as an execution trader on the buy-side. And his resume is quite interesting, he was formerly a salesperson at a commercial bank before he worked on the buy-side. And essentially what he told me was to leverage your network, whether it is reaching out to your school alumni who is a sell side trader or cold-emailing equity derivatives trader at top BBs or MMs. After doing just that, he was able to transition to the sell-side, currently on the FICC desk. Lastly, he didn't come from a target school either.

 

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