Long term career in sales & trading

Thelonghaul's picture
Rank: Chimp | 5

I'll be starting as an analyst at a middle bulge bracket firm this year and wanted to get a feel for what the perception of the long term career prospects in sales & trading are.

Given the specialized skill set you develop it seems fairly easy to get pigeonholed and as the finance industry continues to feel the impact of technological innovation, where does that leave those beginning their careers in sales & trading?

Comments (28)

Mar 21, 2016

I'd like to know as well. It seems like the skill sets are so different that lateral moves into more analytical positions that its a difficult move, HOWEVER sales is such a difficult role to fill it seems easy to enter the industry that way. Thoughts are appreciated.

~Stay Golden

Mar 21, 2016

The best piece of advice I can give you is to start networking. Get to know everyone you can in the industry and establish relationships with headhunters and colleagues at competitors, etc. S&T has never really been about job security or developing skills but the landscape (as you mentioned) has changed for the worse, especially in the last few years. Find out what types of skills people are looking for and work to acquire them (or appear like you did). The last thing you want to happen is end up out of a job after a few years without any real skills or any connections to help you move somewhere else. If you start networking early and maintain solid relationships, you'll find that you appear more in demand and can make savvy transitions as they open up.

Mar 21, 2016

S&T and accounting are two completely different professions, with completely different risk profiles.

It takes a unique person to enjoy and flourish in S&T. If you're having doubts about S&T and are looking towards something like accounting, then I'd firstly suggest that you get some exposure to accounting. If you've already gained exposure to accounting, then you're probably going to be better off in accounting.

Mar 21, 2016

more than 50% of people who go into TRADING at a BB do not last 5 years...heck, most don't last 3 years.
HOWEVER, if you are good, then you can have an amazing career.
Your "interview" has only just begun....take heed...

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Mar 21, 2016

I would go with the SocGen offer

    • 1
Mar 21, 2016

How long is the internship position for? And is the pay prorated?

Consumption smoothing is retarded. If you stay in this game for a handful of years, money will be the least of your worries. Live it up, because this is the one time in your life where you might actually have time to spare.

Mar 21, 2016

Thanks for the reply. The pay is prorated and the internship should be anywhere from 5-6 months.

Mar 21, 2016

Hmmm, that's a tough one. How strong is the desk for the internship position?

Regardless, I would personally go with the internship at the lower tier BB. Even if you don't get a full time offer, you still have the internship experience to help you land another job. Plus, it's prorated and your other full time offer doesn't seem very appealing.

Consumption smoothing is retarded. If you stay in this game for a handful of years, money will be the least of your worries. Live it up, because this is the one time in your life where you might actually have time to spare.

Mar 21, 2016

Bump

Mar 21, 2016

No, it's not a good idea. Pick a different career path.

Mar 21, 2016

Del

Mar 21, 2016

BB traders are making less money with less job security than at any point in the last 30 years. That being said, no job is quite like being a trader, especially running a book as large as an ibank's.

If you do what you love, you'll never work a day in your life.

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Mar 21, 2016

exactly what vol smile said. As a sophomore, its a great opportunity, commit for a summer, if you don't like it, well, then now you know.

Mar 21, 2016
Mar 21, 2016

Do it. But be open to other things later. Its nowhere near as stable as it used to be.

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Mar 21, 2016

i think it's good that you are a sophomore - if you don't like it, you'll have another year to try something new.

I was at a BB this summer that announced big changes that I think visibly stressed certain groups. However, I still think it was a good experience, though I chose not return FT.

Mar 21, 2016

no, S&T is completely different than IBD. Most of the time you will be dealing with customers for hedging products or fixed income products, watch the market movements(LIBOR,currency,derivatives..ect), . IBD is prestige grunt work for 2 or 3 years.

Mar 21, 2016

BB S&T is just as hard to land, if not harder, as a BB IB role, so having it this early is excellent on your resume. I'd say it looks better than anything besides BB IB/Large Cap PE on your resume and it will get you interviews but you'd just need to say how you can transfer those skills to a banking environment

Mar 21, 2016
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