Is it better to be a sell side or buy side trader? I imagine this varies for different positions but lets say something basic like equities. With the huge reduction of prop trading for big banks, is the sell side limited to just market making and execution trading? What is the comp for execution traders on the buyside vs the sell side? Thanks for the input
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From what ive seen, people on the sell side need their quants just as much as they need their traders. You typically work your model, fine tune it, sell it to institutions that have their own traders and PMs that use it for research and eventual execution. You also make markets.
On the buy side youll work with internal PM and other traders. Pretty much directly associated to the cash whereas in sell-side youre not. Zero market making.
Sell side is also where they deal with whatever OTCs they have on the books (though, more, specifically, these arent exactly traded but merely executed on someone's behalf).
Comp wise, really depends on what youre bringing to the table. Are you a quant who wants to bring in new models, or are you simply looking for a prop desk where money is mostly commission.
Just like with other areas of finance, you typically work sell side then move on to buy side
So much wrong with this post its incredible.
Could you provide the correct information then? Thanks
Pretty much everything that guy ever posts is wrong.
anyone?
Sellside: There are still some IB's with prop groups, and a lot of desks are basically prop in disguise (not gonna name names).
Buyside: You have to be careful here, a buyside trader can simply mean execution, not trade idea generation. However, there are HF's that are just a bunch of traders who act as PM's and execution.
Will expand when I have some more time.
I guess you didn't have some more time.
haha
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