Sales and Trading position
So what happens if you get accepted into your dream bb for S&T... and you are so excited, because all you ever wanted to do is trade. Can you end up getting drafted into sales? Does this happen often? To me it seems everybody in S&T really just wants “Tâ€. Are there ways around going into sales? do people leave the firm in hopes of landing a trading internship, or FT position? If you go for a hedge fund, are you odds better of knowing exactly where you will end up?
Hopefully these are questions that others are wanting the answers too. Thanks to anybody who answers, especially those who know from experience. Thanks in advance.
Kind regards,
Yes, this can happen. Each desk usually has room for one intern (maybe 2, depending on size), so it's tough to end up on your top choice for sure.
Get to know the traders on the desks you want to join. Make sure they like you. But, more importantly, do a stellar job on your own desk. Don't give them a reason to say 'no' when you request a switch to trading at the end of the summer (if that's still what you want to do). Who knows? Maybe you'll end up liking sales.
A lot depends on whether or not the first you are interning with has desk specific offers. If they do, it is really hard to end up on a desk you didn't intern on. If the offers are general, I would still recommend interning on as many trading desks you can. good luck...
It's not accurate that most people want to go into trading. The field is actually split pretty evenly between people who want to go into structuring, sales, and trading. So it shouldn't be too difficult to get the function you want. That said, it is firm-dependent because there are firms where they recruit only based on their needs and you can easily get screwed if you want anything contrary to their needs at the time. Also, if you are firm in saying you want trading, but for some reason all they have needs for are sales and/or structuring, instead of forcing you into one of those roles they many just not give you a full-time offer. I've seen that happen.
i think most or at least many at the analyst level do come in wanting to do trading. that being said, most ppl have no idea what trading at a bank actually involves.
I completley agree with Jimbo...Once you see it first hand you may decide its def not what you want to do..you may end up liking sales or structuring more..esp once you see that sales and structuring make a lot more money...although that depends on the product and amount of risk the desk takes
Sales has no exit opps
"Sales has no exit opps"
Sure it does. You can easily go do the same thing at another bank. And senior salesman, could definitely switch to IB down the line. I've seen this happen....especially since MD level Ibanking is also a sales job.
it certainly does...I have seen a lot of sales people move to HF, move to trading, or rise up in ranks to senior management. If you are pitching ideas to HFunds on a daily basis and they like your ideas, they might offer you a spot..i have seen this happen a lot. I have also seen good sales people move to prop desks. I also know that a lot of sales people have moved on to start very succesful HF's. Sales def has exit opps.
I stand corrected.
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