Strong in Sales, should I still pursue S&T?

nyknicks12's picture
Rank: Chimp | 4


I've been working as an equities broker (Private W M) for 9 years at a boutique IB.

I have been pretty successful in all aspects of this business and have grown to love sales.

Now that I am looking to make a move, I figured that getting a job as a sales person in S&T would fit my profile. However, I often hear that certain parts of S&T are fading fast, especially in the most liquid of products

Are there any other areas within a BB, Hedge Fund or PE Firm where my sales acumen would be valued higher than other qualifications/abilities? I tend to prefer a high pressure, competitive, environment and although I am proficient in financial modeling, valuation/analysis and excel, it's not what I want to do the majority of my work day, at least the majority of my career

Any ideas or specific roles in mind that could help?


Comments (9)

Jan 12, 2016

Business development within a company.

Jan 13, 2016

Thanks. Anything more specific? Would the title be Business Development SalesPerson/ Analyst? And would this apply to HF's,BB's and PE firms?

Jan 13, 2016

Yes. Either Business development specialist or associate. You can find them at fund administrators, broker dealers, RIAs, other private wealth firms, etc.

Jan 13, 2016

why do you want to leave PWM? if you're 9 years in, you're approaching what could be your highest earning years, and it's much more stable than S&T in my opinion.

Jan 13, 2016

I second that. S&T is practically dead for the most part.

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Jan 14, 2016

Sales side of S&T isn't really sales in the way you are thinking of it. There are some people who are very good at sales there, but generally you are not actually pitching anything. You negotiate for 2 ticks on a trade, but rarely do you call a client, pitch him an idea, and he does the trade. I saw that maybe a handful of times over my 2yrs on the sales side of S&T. It is much more of a 'relationship management' role. That being said, you may still very much enjoy it. S&T compensation is declining and desks are shrinking, but you can still make a boatload of money - it sounds like something you should do more digging on before writing it off.

Jan 14, 2016

Lol at this. I know a veteran who spent years in it. He's seen it shift over the years from high profit to medium profit to low profit. I have seen it firsthand myself at a boutique. Declining spreads and technology coupled with the buyside waiting on the Fed to do what it probably will never do is why its not viable. Trading volumes are way down.

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Jan 14, 2016

The notion that S&T is dying is incredibly overblown. Is is what it used to be pre-crisis? No. Can a skilled salesperson or trader still make great money? Absolutely. Just do your research on product trends and find out which desks are less likely to be phased out. For example, you're likely better off joining a role in rates or FX S&T than cash equities or distressed debt right now.

If the situation was as drastic as some make it out to be, BBs wouldn't be hiring analyst classes of 50+ for their S&T divisions.

Jan 14, 2016