Sales & Trading at BB!! help
Hello all - I just received an offer at a top BB in NYC for the incoming analyst class. The way the program works is you do 2 one year rotations on pretty much any desk as well as within both Sales & Trading. I wanted to come here to ask for advice as well as hear your thoughts on what product/desk I should get into if i have more of a Macro view in terms of my investing approach. I enjoy reading more about the economics of countries and analyzing economic data to determine which sectors/countries will benefit the most from the global picture rather than creating a DCF model on a specific distressed company.
If you all could start your careers over and was in my position knowing what you know now and how the Markets world is changing - what desks would you look into? I wouldn't want something that doesn't develop "tangible" skills and is a super flow business such as a Rates Salesperson or like a high touch agency equity flow trader - as well as I am scared of automation down the road in certain areas. What sort of desk should I begin to network with given this situation? I have met with some people in Corporate FX and that team seems very interesting to me as well as the Delta One Trading desk. Let me know your thoughts! Would love to hear your views
word counter VidMate Mobdro
Lol is this Citi giving all SA's auto FT offers? Or starting FT this year
go to fixed income
1) Emerging Markets Trading (ideally you speak Spanish and Portuguese) 2) Cross Asset Trading and Research (usually required advanced degree/math...but if you can get there, would be a great desk)
These are the best spots to be in trading
If you are scared of automation, go to illiquid products. However, it's good to develop a more technical skillset when you have time.
What desks or products would you say are more illiquid?
definitely not what ur in or me
Credit derivatives and ETNs come to mind
At Citi, macro products are quite strong. Go for non-linear rates or FX structuring.
you starting FT in 2020 or 2021?
I'm not in s&t yet as a disclaimer. Illiquid stuff in macro would be stuff like rates or fx options (there is a big difference between the flow and exotics categories within these areas so look into that), em fx, and I think linear derivatives on the long end of the yield curve. Be careful with em fx if you're covering asia from ny. Talked to a trader in that and he said it ruined his sleep schedule. A senior person at a french bank told me that they are mainly just hiring traders who can double as pretty high level programmers in liquid macro products. Something to keep in mind depending on your interests.
I’m in S&T, rates & FX options are extremely liquid. In fact, swaptions trading is done under the “liquid products” group at multiple banks. Generally options and anything electronified are super liquid.
even 2nd gen exotics?
Wait -- how did you "just" receive an offer to work at BB for incoming class? Aren't those offers given out in August or September? And now it's June? How does something like this happen?
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