I'm considering whether I want to do a career in S&T and I'm having a hard time deciding.
I love Trading. Like most on this site have pointed out, you have to live and breathe the markets and I'm sure that I do. But ultimately, I wouldn't want to join an S&T desk at a, specialize in an asset class and end up having that entire space being dominated by computers in a few years. Also, some on this site have mentioned (and I don't know how true this is) that there are desks that are strictly populated by agency traders. Again, I don't want to end up landing an FT offer on a desk and then have my job end up being selling share blocks. I know that there are people who live to get the best price so no offense to any agency/execution traders out there, but it simply doesn't interest me. I don't mind putting in the hours to be an execution trader when I start out but I want the ability to take on more risk down the line.
So my questions are
What is the prevalence of algo's/programs/quants on the desks? How much more important will they get in the future and what markets do they dominate? (Cash equities seems to be already taken over by them. Hell, just reading ZH makes me think computers run all the markets)
I don't mind market making, it seems like a great way to learn what moves prices and the role volume and volatility play in the markets but I also want to be able to make prop decisions. Which asset classes offer a good mix of both market making and prop decision? Ex: I think someone pointed out that some FX desks are 60% market making and 40% prop.