Institutional Equity Sales Assistant
Trying to make the transition from retail sales to institutional equity sales. I have been unsuccessful applying for entry level training programs at BB firms...
Is a sales assistant position a good entry point for someone looking to work their way into an instituional sales position, or are these typically dead end positions?
Appreciate the insight...
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It really depends on the firm and bank. I have seen some where it is straight middle office, a group of sales assistants sit together a support numerous desk. I have also seen it where you would support a senior salesman or sit directly on a specific desk and you have be the only assistant. The latter has the best opportunity to move into a full time sales role.
Which bank if you don't mind me asking?
Hopefully you are sitting on the firms trading floor with other sales people and can listen to the morning call everyday (if they don't require you to, still get your ass in every day and learn the product), get the phones, and build relationships w/ all of the brokers clients. In this set up, you're probably set assuming you do well as an assistant.
Sales Assistant- dead end - Full time equity sales (Originally Posted: 02/14/2011)
Hey All,
Anybody know anything about a Sales Assistant position with MS Institutional Equity? Does not seem to be traditional spot in 2yr S and T analyst program...
Is it similar to Traders Assistant in that natural progression is to move to full time Equity Sales?
Also, if you had an offer for middle office credit traders assistant, would you take the equity sales assistant role instead?
Thanks for any and all help.
Cheers
As far as I know, they don't have a traditional analyst program for some specific roles (i.e. private banking analyst), hence, assistants are an important part of talent development for the firm. I'm not sure about the specific role you are referring to, but I would imagine it's a similar situation.
Take the SA role.
I think it really depends on the firm. BB type banks, the sales assistants are like trade assistants...middle office roles that do not directly lead to a front office sales/trading role. Smaller firms seem more willing to promote sales assistants to full time salesmen
thanks for the replies.. Rebelcross, MS does have an analyst program for sales and trading tho, so is this Equity Sales assistant role not related to the "talent development" you spoke of?
Of course MS has an analyst program for S&T, and the various roles throughout, just not sure if this specific role takes analysts or not. Is it just vanilla Institutional Equity Sales or something else? Still sounds like a feeder into a full sales role 2-3 years down the line
Sales Assistant --> Junior Institutional Sales (Originally Posted: 09/16/2012)
I've been working at a boutique equity research shop for the past 11 months and am hopeful to get the bump from an assistant to a salesperson within the near future. The associate of the company that I replaced when he/she received their promotion has been having a rough time getting "accepted" onto the sales desk. His Director hasn't allowed him to attend a single meeting yet. He has been calling on clients for the past 4 months and has since been dragged back into an "assistant" role by his Director making him maintain numerous spreadsheets and basically is being treated like he is still an assistant.
I'm worried because I like my company a lot and I don't want to be forced out by being "type casted" as an assistant for my tenure there. Does anyone have any tips for how to avoid this and ultimately be accepted by everyone at the company as a real employee and not just an assistant any more?
If you only do administrative tasks, you will always be treated as an assistant. No one is gonna hold your hand, it is up to you to produce. If you treat it as a job, you will always be an assistant. However, if you treat it as a partnership, you might have a shot. Just because that is happening to the associate does not mean it has been predetermined to happen to you. But if that is what you focus on, that is what will become. Instead, focus on the positive. Sales is not the place to be if you are so easily influenced by the negatives.
From Sales Assistant to Sales Rep (Originally Posted: 08/31/2006)
Hi All,
I want to get your opinion on my current dilemma. I'm a Sales Assistant within <abbr title="high yield">HY debt group. I am coming to the end of my analyst program & the thing is that I really want to make a move to be a Sales Rep. Currently their are no opportunity to move onto the desk I support. The thing is that people at my bank love me but the slight problem is that my current desk would not want me to go but I have to do what is best for me. I have figured that in order to become a Sales Rep either within my bank or another bank I will have to get an headhunter or start cold calling ( I don't know if this is too wise). What do you guys think. If headhunter, how do I find a good one that will deliver result preferebly by Dec when my analyst program ends.
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Sales Assistant-where will it take me? (Originally Posted: 07/31/2015)
Start out as a sales assistant, then get the Series 7 and 63. Start working as a junior broker. Other than staying with that firm, what are the other logical progressions from this?
Broker, Senior Broker, and possibly management.
Are you in sales or PWM
PWM boutique shop. To be clear, it is a contemplated opportunity. What is the management piece? Like managing a shop?
What kind of re-branding would be possible with an MBA?
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So, how do you do it without ending up as a lifer?
Where ever you want to take it...
this will depend 100% on the culture of your office/firm. if managers are keen on growing you into something else, great, but there are brokers out there who want SAs to stay SAs forever.
management in PWM is quite possibly the worst career choice ever. you are underpaid, overworked, and constantly on the chopping block. they make you give up your book once you leave the branch level (so you no longer have clients), and every time the firms cut costs, managers get fired/reassigned with lower pay, and the ones that stay just have a bigger territory with more responsibilities but not for any more money. don't go this route, the days of managers making as much/more than top producers are gone forever.
of course, all of this assumes you want to stay in PWM. if you don't, I'd try for something else, as the best way to get into banking, ER, etc., aside from some luck would be to get into a top MBA.
quick disclaimer: there's a lot of false information about PWM thrown around this site. not so much in this thread (yet), but be aware that PWM is not the focus of WSO, so there's a lot of shitty advice around PWM here, caveat emptor.
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