Difference between S&T and Asset Management

niklay's picture
Rank: Chimp | 8

Hello,
I'm currently looking for internships and I don't know which section is the most suitable for me. Particularly, I don't see the difference between Sales&Trading and Asset Management. Personally, I don't want to do Sales (I'm more technical than social). If I would describe my dream position, it would be a position where I do research about stocks (only stocks), develop new strategies and trade equities based on own decisions instead of just executing customer orders. I think Prop Trading / Hedge Funds would be most suitable for me, but as I have zero experience it will be too hard to get an internship directly. Does this match more with S&T or Asset Management (or even something else).
Thanks.

Comments (23)

Dec 7, 2017

Have you ever heard about the difference of sell- and buy-side? In S&T you sell and in AM you buy... well anyway.
So as I see it, your "dream job" would be in AM research or as a PM directly.

But even in a BB global markets division you find jobs similar to your wishes.
As an (technical) research analyst for example, you also develop trading strategies and backtest them besides doing research for clients or your traders.

Hope I could give you a little insight

Dec 10, 2017

What you're describing is a lot more like Asset Management

Sales & Trading has two main roles:
* Sales: Sells research to Asset/Fund Managers so that they will execute trades with S&T desk.
* Trading: Finds a way to process & execute large orders from Asset/Fund Managers, through the markets

Asset Management has about two main roles too
* Sales (Relationship Management): Finds funds/pension funds that will give Asset Managers money to invest with.
* Trading (Products): Comes up with strategies to turn AUM into more money, Does more research/less client facing, Basically comes up with investment ideas for Portfolio Managers.

Wicked Smaht

    • 1
Best Response
Dec 10, 2017

trading in AM has nothing to do with crafting strategy. traders trade stuff that the pms want in or out of their portfolios.

    • 2
Dec 13, 2017

You're right, I just meant more like the Investment Analyst side of it.

Wicked Smaht

May 24, 2018

Totally right.

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Dec 10, 2017

If you want to "do research about stocks", ie, equity research, then do equity research.

Dec 13, 2017

Take AM and don't look back. S&T is not what it used to be.

Dec 13, 2017

What if the AM might be PWM for sophomore summer. Would it be worth passing on BB S&T for a PWM role UHNW clients, and then move into Institutional AM (which is where I want to be) for my Junior summer even if its still client facing?

I just feel like the skill set and what i would learn would be more on the S&T desk. Idk I'm torn.

Dec 13, 2017

BUMP

Dec 13, 2017

Decision is between --- and --- for sophomore summer..

Dec 13, 2017

GS IMD blows BAML S&T out of the water.

Dec 13, 2017

Really, wow. I think I'm going to choose -- regardless since I'll be able to lateral into a strictly Investing group my junior summer (I'm rotating between portfolio management & Trading and Sales this summer so it should be an easy transition for my junior summer), or I could check out any other group.. Goal is to be an PM in the long run.

Dec 13, 2017

Doing GS IMD as a sophomore would open up a world of opportunities for you in PM if you take it.

BAML S&T will do the same but GS is probably more well-regarded in the PM world.

Comp is completely dependent on how well you perform for bonuses so I wouldn't be too picky about that unless if you're extremely competitive. I'd probably take GS though.

Dec 13, 2017

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Dec 13, 2017

When did you have your interview and how long did it take you to hear back?

Dec 13, 2017

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May 24, 2018

.

Dec 13, 2017

PM me.

Dec 13, 2017

Are you familiar with the different roles within each division and what they do? If so, there's nothing much we can tell you and you just have to make your own mind up about what you want. Sounds like any of these (S&T/AM/Research) will fit you if you enjoy following the markets. Trading is more fast-paced and short-term focused than research and AM.

If you're not familiar, then you should say so instead of asking which one is "the best."

Dec 13, 2017
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May 24, 2018
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