I feel like there's really not a lot of discussion about S&T/The specific areas of sell-side
1. How smart are the people / How technical is the product
2. What is the culture like
3. Where do you think it's heading in terms of size and profitability (see technology)
4. Would you want to be there right now
***These are my perceptions after my SA stint at a
Equities (Cash) - Bros, not technical at all, seems like a sales gig, wouldn't want to be there as I feel like they're gonna downsize even further and there's just no ability to make money
Equities (Derivs) - Total opposite, extremely technical especially for the exotic stuff. Everyone I met seemed very smart and somewhat weird. Wouldn't mind being there if I fit better because I think it's probably going to remain profitable.
Credit - The guys seemed nice, not super technical but they seem to be well respected and I don't think they're going to go electronic anytime soon
Rates - Really didn't have much exposure. I sat with the traders for awhile, it was all very fast-paced and I didn't retain much. I imagine they're all pretty smart.
FX - Same as rates I guess except they're probably more likely to become more electronic. I don't understand how you generate substantial PnL with spreads that thin
SPG (Securitized Products) - The guys at my shop are pretty preppy for the most part, I believe a lot are former athletes. Seems like it's very safe in terms of not being replaced by technology except for maybe the TBA traders. Ranges from not all that smart to brilliant depending on where on the pass-through -- CMO derivative spectrum you are.
Again, I'm a dumb kid who just finished a summer. I want to hear perspectives from people who actually know what they're talking about. Not facts, just people's perceptions of how things are and where they're going.