Fixed Income Sales - What Group to pick - General Question

MBAinSearch's picture
Rank: Baboon | 100

Hello,

I am thinking of breaking into sales position within the bank I am currently working at. I have spent a year after b-school on fixed income liability-side structuring desk, a job which I did not enjoy at all (hated) - fixed income people who know what 'liability-side" structurers do will understand me very well.

Anyway, my question about fixed income sales is as follows - on what sales desk will my analytical skills / knowledge of financial products will be tested the most? In other words, on which desk will my ability to retain clients depend the most on my understanding of the product and my ability to suggest investment/trade ideas for the clients? My preconception of what good FI sales people are may be glorified but I think a good sales person should think from perspective of the fund manager in order to be able to put forward the most original trade ideas. Let me know if this is total crap or not.

I know that being a sales person has a lot of upside (in terms of earnings potential) but I don't want to be in position where my success as a salesperson is dependent more on my ability to schmooze and execute client orders faster than others.

I will appreciate any advice anyone can offer.

Comments (9)

Oct 18, 2010

From my experience, MBS sales people need to know the product just as well as the traders (in fact most of the sales people I met used to be traders). The product requires a lot of analysis and being able to sell the product to different clients--need to talk about prepayment speeds, durations, OAS, collateral characteristics, ect. My other suggestion would be distressed debt, but I am not sure if your bank has distressed debt sales or if they have credit sales and everyone covers all the credit products--from short term to high yield.

Oct 18, 2010
Gekko21:

From my experience, MBS sales people need to know the product just as well as the traders (in fact most of the sales people I met used to be traders). The product requires a lot of analysis and being able to sell the product to different clients--need to talk about prepayment speeds, durations, OAS, collateral characteristics, ect. My other suggestion would be distressed debt, but I am not sure if your bank has distressed debt sales or if they have credit sales and everyone covers all the credit products--from short term to high yield.

My goal is to work at a MBS sales desk when I finish my MBA. I've been (still am) in mortgages for almost 10 yrs...my experience is in the "front line"...originating mortgages as a banker, and then leading a sales team.
Curious...what banks (off the top of your head) have high performing MBS desks?

Oct 18, 2010

BAML,CS,JPM have the top three desks...in that order.

Oct 18, 2010
Gekko21:

BAML,CS,JPM have the top three desks...in that order.

Thank you kind sir!

Oct 19, 2010

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Oct 19, 2010

Can anyone jump in and help out here???

Oct 19, 2010

What do you do now?

Oct 19, 2010
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