Sales vs. Broker
Sorry for dumb question, I'm on the banking side but curious, what is the difference between being a bond broker and on a bond sales desk? Thanks
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sales sells research...sales-trader (broker) follows a particular strategy and is fundamentally a market maker
It depends what type of firm you are at..but usually the following on the institutional side Bond Sales Desk - Sell bonds (HY/IG) to institutional client (hedge funds, mutual funds, pensions etc) while creating flow for the traders. Bond Broker - Inter-dealer broker who is the middle man between two trades
There are also bond brokers on the retail side who sell bonds to retail clients
^ What he said
One sells products (stocks, bonds, mFunds) to individuals, the other sells large blocks of securities to INSTITUTIONS, and there's a whole spectrum of roles in between. There's also various internal sales roles, where they promote products from other companies to their sales force / brokerage teams, or promote their company's sales group to other companies that create products but don't have a sales force or want additional exposure for whatever reason. Everyone's selling stuff to each other, collecting a few points along the way.
Not a dumb question at all, there's a LOT of different "sales" roles, make sure you know what you're signing up for.....ask a LOT of questions.
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