Sales Questions/Concerns

oozz's picture
Rank: Monkey | 53

I have been digging quite extensively regarding a career in sales. As interested as I am in the field of sales, I still have a few concerns before committing myself. I have yet to find sufficient information regarding the following areas listed below (some Q's may be unanswerable). But, if you have any insight I would most appreciate your feedback. I'm most interested in a career in equity sales (but any sales insight would be helpful) for a BB.

1: Job security for sales (of course if you're selling its good, but how is employer loyalty towards salesmen, turnover, layoffs, and competitiveness for positions)
2: MBA opportunities (I have always dreamed of studying at a top 25 B-school)
3: Extent of fundamental finance skills used to be successful (this is more personal in nature, as I would like to be utilizing my strong ACCT & FNAN understanding, and analytical ability)
4: Typical career progression
5: Hours
6: Do I have to live in NY? (This is more of a long term view; would ultimate success in this career path force me to live in NY?)
7: My competitiveness
-my stats: Non-Target, 3.7 GPA, dual degree FNAN/ACCT, Senior, very strong EC's (President & founder of multiple successful clubs, finance and accounting honors program, developed university wide tutoring programs, developed student managed fund), top 5% of class, 2 years at a corp. fin internship (non f1000), 6 mo. ERM internship for a non-profit investment foundation, and potentially a PWM internship)

I apologize for the lengthy post, but I hope that some of these questions/concerns could provide answer for other interested students.

Thanks,

Oozz

Note: feel free to answer one or all

Comments (6)

Jul 13, 2011

No sales doesn't have to be in NY. In fact, many banks spread their sales guys all over the place. Of course that could mean that you end up with equities in Dallas.... LOL

Hours for S&T seems to revolve around the market.... you get in a couple hours before the open, then you leave a couple hours after the close.

Jul 13, 2011
lucidfighter:

No sales doesn't have to be in NY. In fact, many banks spread their sales guys all over the place. Of course that could mean that you end up with equities in Dallas.... LOL

Hours for S&T seems to revolve around the market.... you get in a couple hours before the open, then you leave a couple hours after the close.

equities in dallas is such a stupid comment and Michael Lewis is also an idiot. Once the economy gets worse especialy in NYC where you most likely live you will be begging to come to Dallas where we pay no state income tax and my standard of living is 50x greater than yours.

The one who does not fall, does not stand up

Jul 14, 2011
ProdigyOfZen:
lucidfighter:

No sales doesn't have to be in NY. In fact, many banks spread their sales guys all over the place. Of course that could mean that you end up with equities in Dallas.... LOL

Hours for S&T seems to revolve around the market.... you get in a couple hours before the open, then you leave a couple hours after the close.

equities in dallas is such a stupid comment and Michael Lewis is also an idiot. Once the economy gets worse especialy in NYC where you most likely live you will be begging to come to Dallas where we pay no state income tax and my standard of living is 50x greater than yours.

I don't get how dickheads like you can take offense to any comment without regard to tone or intention. I understand that sarcasm may be hard to grasp on the internet but use some common sense.

And no, I don't live in NYC, go suck a fat one.

Also OP, I know the question's not directed towards me but imo the best salesman know their product like the back of their hand but are also likable enough for the accounts to relate with. I know the guy I'm working with this summer said that he likes to match the tone of the accounts that he talks to, like if an account is cautious, he'll approach the sale from a risk-mitigating perspective. Conversely, if the account is gung-ho, then he'll jump on how much profit can be made and how fast.

Jul 14, 2011
lucidfighter:
ProdigyOfZen:
lucidfighter:

No sales doesn't have to be in NY. In fact, many banks spread their sales guys all over the place. Of course that could mean that you end up with equities in Dallas.... LOL

Hours for S&T seems to revolve around the market.... you get in a couple hours before the open, then you leave a couple hours after the close.

equities in dallas is such a stupid comment and Michael Lewis is also an idiot. Once the economy gets worse especialy in NYC where you most likely live you will be begging to come to Dallas where we pay no state income tax and my standard of living is 50x greater than yours.

I don't get how dickheads like you can take offense to any comment without regard to tone or intention. I understand that sarcasm may be hard to grasp on the internet but use some common sense.

And no, I don't live in NYC, go suck a fat one.

Also OP, I know the question's not directed towards me but imo the best salesman know their product like the back of their hand but are also likable enough for the accounts to relate with. I know the guy I'm working with this summer said that he likes to match the tone of the accounts that he talks to, like if an account is cautious, he'll approach the sale from a risk-mitigating perspective. Conversely, if the account is gung-ho, then he'll jump on how much profit can be made and how fast.

whoa sunny I never attacked YOU as a person so dont go calling me a dickhead. Yes sarcasm is hard to pick up over the internet but I dont think you were being sarcastic at all.

The one who does not fall, does not stand up

Jul 13, 2011

1: Job security for sales (of course if you're selling its good, but how is employer loyalty towards salesmen, turnover, layoffs, and competitiveness for positions)

  • if you are good, you will not need to worry about layoffs. But never be too comfortable and always remember that you are as good as you last sale!!!!

2: MBA opportunities (I have always dreamed of studying at a top 25 B-school)

  • quite frankly, it's not as useful as if you are in IBD.

3: Extent of fundamental finance skills used to be successful (this is more personal in nature, as I would like to be utilizing my strong ACCT & FNAN understanding, and analytical ability)

  • it will help if you have solid fundamental understanding of markets and how your products fit in the grand scheme of your clients' needs. You do not model or need to know every little detail.

4: Typical career progression

  • that is up to your ambitions

5: Hours

  • fantastic hours compared to IBD monkeys

6: Do I have to live in NY? (This is more of a long term view; would ultimate success in this career path force me to live in NY?)

  • no, but it might help if you are in equity sales. I am in FX sales and personally located in San Francisco
Jul 13, 2011
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