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  2. Hey All, I've been on WSO for a while since my college year, and now I think it's a good time to give back. Background: I graduated from a semi-target school as a Stats major with minor in CS, interned in a BB (S&T), failed to get a return o ...

    36 comments20 Apr 2020 -

  3. Best BB firms for S&T

    Sales and Trading

    How would you rank the BBs in terms of how good/competitive their S&T divisions are for FICC and equities? Most of the rankings on this site are for IB, so I wanted to get the perspective of people in S&T. BB Sales and Trading ...

    113 comments15 Jan 2020 -

  4. Sales and Trading Analyst Q&A

    Sales and Trading

    Hey Everyone, I've been a longtime reader of the forum and just want to thank everyone for all the helpful information I've found throughout the years from undergrad to my first internship and onto to being a sales and trading analyst. I feel li ...

    50 comments19 May 2016 -

  5. Hello everyone, I am currently a Junior in an undergraduate business school and, after working hard, I have just secured a summer S&T internship at a BB bank in NYC. I am now willing to provide the necessary effort to do well. I would like to have som ...

    30 comments6 May 2020 -

  6. So, I feel pretty bad about a coffee chat networking experience I had with an MD/Partner at a BB. I was connected through a friend and met this person at their office. I went in with the mindset just to introduce myself/why interested/ get to know the per ...

    22 comments11 Jan 2020 -

  7. Hi everyone, I recently finished up a sophomore summer internship in S&T at a BB, got the return offer and plan on going back next summer to then be considered for FT. The point of this post is to answer any questions anyone might have about S&T ( ...

    25 comments14 Sep 2018 -

  8. JPM SA rejections

    Sales and Trading

    Has anyone heard back on summer analyst applications yet? BB Sales and Trading college undergrad 2015 Summer Analyst Salary ...

    42 comments8 Feb 2016 -

  9. Fellow monkeys, Long time reader, I have only posted several times. I am here to share my success. I just landed a S&T role at a top BB (GS,MS, JPM). My background: Small, private, non-target finance grad with a 3.2 GPA. My university only places equi ...

    44 comments10 Nov 2013 -

  10. Hello everyone, I a Junior in college and I have just secured a summer S&T internship at a BB. I applied to that job because I am fascinated by the markets, I like confronting risk, and I like to life style of the job. Now, I know that an intern' ...

    46 comments2 Mar 2015 -

  11. GS S&T or Citi CMO?

    Investment Banking

    I have an offer for Citi 's 2019 CMO program, and received a Superday invite to S&T at Goldman. What are pros/cons of each, and which would you suggest I take? The Citi offer expires before the S&T Superday, and I'm not sure yet if I can ...

    13 comments23 Aug 2018 -

  12. I interned at a major BB this summer and have a FT offer in equity sales. I'm not sure if I want to stay in Finance for the long run... would definitely want to transition out to bschool after a couple of years if I took the role. Personally, I do no ...

    18 comments22 Jan 2018 -

  13. Sales out of M7 MBA: Even worth trying?

    Business School and GMAT

    Hey guys, I'm a military officer in the process of applying to top MBA programs and hope to be admitted to Booth/Columbia for the class of 2018. Assuming I get into one of these programs, how feasible is it to secure a position as a S&T associate ...

    18 comments16 Sep 2015 -

  14. Obviously, in general, the hours in S&T are (usually significantly) better than those in IB. I've often read that most traders/salespeople come in around 7 AM and leave by 5:30/6 in the evening. Yet, I've networked with many alum across BB & ...

    18 comments27 Oct 2014 -

  15. Hi Guys, I am currently a graduating senior at a non-target with a double major in Finance and Economics. Its been a goal of mine to break into S&T. I know recruiting is all over and I am getting desperate. I have been applying to other finance positi ...

    19 comments8 Apr 2013 -

  16. I currently have 3 great offers for summer internships: 1) Goldman Sachs Strats in QIS 2) BAML Strats Associate on MBS desk 3) Deutsche Bank Trading Analyst ...

    14 comments20 Nov 2015 -

  17. AndyLouis's blog The following is an interview I did with the Head of Equity Derivatives Sales at a bank in the UK: What is your job title? I work in Flow Equity Derivatives. What are previous positions you have held and how many years of experience ...

    10 comments9 Apr 2016 -

  18. Hello, I am getting ready to pref desks for Sales and Trading at a BB bank. The program rotates around sales and trading, however, I was told that most of the trading desks require a computer science/quant background, or at a minimum, to have strong progr ...

    10 comments27 Feb 2017 -

  19. Should I be depressed?

    Sales and Trading

    Hey buddies, I'm a 25 years old European engineering major and I recently finished my bachelors degree with a high GPA (~3.8). The reason why it took me so long to finish school is because I'm originally from Asia and I came to Europe 12 years a ...

    8 comments6 May 2020 -

  20. Hello! I have the following question regarding the choice of a summer analyst internship for the three roles: Merrill Lynch- IBD JP Morgan- S&T Goldman Sachs- IMD institutional sales I think this is particularly a hard decision as I am very interested ...

    10 comments11 Apr 2015 -

  21. Hi peeps, I am a first year analyst in the world of equity exotics structuring. Its a nice field for a fresher to understand the world of derivatives but I am worried if this job has any long term career prospects, especially when compared to more sought ...

    5 comments6 May 2020 - Analyst 1 in S&T - Equities

  22. Hello 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 a ...

    9 comments14 Jan 2016 -

  23. IBs 'destroyed'?

    Sales and Trading

    http://www.youtube.com/watch?v=vbuborn14Mc BB Sales and Trading ...

    10 comments12 Mar 2014 -

  24. I've seen paper vs. physical energy trading discussed in the past. However, I was wondering what a day in the life would look like mid-career at a BB vs. a Supermajor vs. a Commodity trading house (Glencore, Trafigura, etc.)? BB Sales and Trading ...

    10 comments19 Jun 2013 -

  25. People often tell me it's better to work at JPM Markets or Citi Markets than GS Securities because of the difference in the balance sheet and revenues, but I feel like this figure isn't normalized with respect to how many people work at each ban ...

    6 comments6 Aug 2019 -

  26. 2016 S&T FT

    Job Search Advice

    Hi everyone, would really appreciate your input in this. Currently a junior in college, tried securing an SA in S&T for summer but didn't get any offers in the end. Is it still possible that I get a FT through intense networking this summer / ear ...

    9 comments15 Mar 2015 -

  27. Hello, First off, I searched for this topic and haven't found a thread that was exclusively focused on sophomore S&T superdays. There are a few posts, but most are not detailed. At the sophomore level, what kind of technicals should I expect for ...

    8 comments11 Jan 2018 -

  28. [Deleted! No longer relevant.] ...

    8 comments9 May 2018 -

  29. Hey everyone. I recently accepted an offer at J.P. Morgan for the S&T Summer Analyst program. The program is not rotational; we rank our choices and they rank us. I have recently seen seen the FICC Citi Survey (can't link to it as I am a new memb ...

    9 comments26 Oct 2013 -

  30. Update: I was speaking to a guy in Australia on the cash equities desk at a BB. Just edited the post for the US/global audience, cut out slangs about kangaroos and shit. Hey guys, I think it's about time to post something since I have been a member f ...

    6 comments6 May 2020 -

  31. I keep reading that banks are scaling back on PB because of how balance sheet intensive it is. What does that mean for the future, specifically sec lending since it makes so much money for the firm? How do you think PB will adapt to new regulations? Pleas ...

    8 comments13 Aug 2015 -

  32. first round S&T?

    Sales and Trading

    How technical can that be? Thanks BB Sales and Trading ...

    8 comments9 Feb 2015 -

  33. Hey, guys. I am an incoming S&T summer analyst at UBS London. I wish to get a return offer for my summer internship. I am wondering what are the ways to improve my chance of getting a return offer? I have read on other posts about adding values to the ...

    5 comments6 May 2020 -

  34. jjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjlkdsjlksajlkafjd;lksjfds;lk BB Sales and Trading ...

    7 comments22 Jan 2018 -

  35. I just got a summer analyst position at a BB bank and I'm extremely happy with the position. But I was wondering how it compares with smaller prop shops in terms of comp and lifestyle. I know, for example, a first-year at Optiver can make 300k. And t ...

    5 comments6 May 2020 -

  36. Hello. I'm currently interning in PWM at a BB. I'd like to move to S&T or AM next summer. How hard will this be? I recently looked through Outlook and found that I have contact info for everyone at the firm. My boss already said he'd su ...

    5 comments20 Jun 2019 -

  37. S&T SA

    New User Introductions

    Longtime follower and new member of the website. I am from a semi target and am a Sales and Trading SA this summer in NYC. Feel free to reach out if you have any questions! BB Sales and Trading- United States- Northeast ...

    5 comments6 May 2020 -

  38. Best MSF/MFin program for S&T?

    Business School and GMAT

    Columbia MS financial economics, MIT MFin, Vanderbilt MSF, CMC MFin....? BB Sales and Trading United States- Northeast United States- South United States- West ...

    6 comments27 Mar 2015 -

  39. Hey all, I did some searching and got some decent info, but need some insight for the professionals who are already there: UG non-target GPA is 3.05 bsba Working in Pharmaceutical Sales (good numbers) Ambition: MBA from vandy, indiana or emory, will apply ...

    5 comments6 May 2020 -

  40. I understand that in investment banking, you have a very hierarchal structure in terms of dynamics with other people, and the tasks you're assigned to do, but S&T is more of a flat structure. How much autonomy does this mean you have on each desk ...

    4 comments14 Mar 2019 -

  41. Hey guys, I'm a junior at a target (Ivy) interested in credit. I'm trying to figure out the best way to get to a credit HF. I currently have offers to join DB's structured credit desk as well as as a HY credit analyst at a >$1bn credit f ...

    5 comments7 Feb 2016 -

  42. Barclays S&T vs BAML S&T

    New User Introductions

    I have offers from both over summer. Both have amazing people. Really torn. No clue what to do BB Sales and Trading Salary ...

    5 comments29 Jan 2015 -

  43. School:Semi/non target (a rising junior) Major: Mathematical Economics GPA: 3.75/4.00 Nationality: Foreign(having an accent) Experience: not so much. Interning at a commercial real estate company right now and volunteered at a non-profit organization last ...

    5 comments24 Jul 2014 -

  44. Hey guys, I'm currently a rising sophomore in a well known Canadian university and I started looking for summer opportunities pretty late. I applied to several firms but they all told me that they do not hire first years and that I should apply for t ...

    4 comments6 May 2020 -

  45. SA offer: CS S&T or GS S&T

    Sales and Trading

    Hey guys, I was fortunate enough to receive S&T offers from CS (Equity) and GS (Equity & FICC) Sales and Trading. I am more interested in macro products (hence FICC), but also concerned that GS S&T business has been quite sluggish and therefor ...

    3 comments14 Dec 2019 -

  46. Over the past 3 weeks, we have covered option basics including pricing and payoffs. We've also covered Option greeks going deeper into Delta and Gamma last week. This week, let's take a look at the rest of the greeks: Theta, Rho and Vega. Theta ...

    4 comments15 Dec 2012 -

  47. S&T offer advice please!

    Sales and Trading

    I have received an offer from UBS and Morgan Stanley. Both are S&T summer analyst position. The UBS S &T internship allows you to rotate across different desks and it is located in London. On the other hand, the full name for S&T at Morgan Sta ...

    3 comments6 May 2020 -

  48. Internship from target school

    Sales and Trading

    I go to a target school, and i recently thought of going into S&T. I am a junior, and I don't have much finance background. Is it too late to prepare for next summer's S&T internship? When does recruiting usually start? Thanks! BB Sales ...

    4 comments23 Sep 2014 -

  49. delete advice to interns basic resume review BB Sales and Trading ...

    4 comments12 Feb 2015 -

  50. I'm going for a sales job in the Securities division at a BB. I was coached by an employee that I need to beef up my market knowledge. What would you all advise I do to prepare for an entry-level interview? Commodity Sales BB Sales and Trading ...

    4 comments21 Jul 2014 -

  51. Does GS Use TA!?!

    Sales and Trading

    I saw a picture on the GS S&T career section webpage that had a computer screen with a few charts in the background. I remember Jim Cranmer, I know he wasn't a trader, talking a lot about TA in his books. Dose anyone still believe in TA? Goldman ...

    4 comments25 Dec 2012 -

  52. I know that GS Securities opens July 1st 2019, but I can't find the dates for any other applications. Does anyone know when any of the BB 's open their applications based on when they did so last year or anytime before? Also, would anyone know w ...

    3 comments12 Apr 2019 -

  53. Hello guys, I have a dilemma right now. I have been offered both summer internships at CIBC and TD in sales & trading. I know it's a good dilemma to have, but I just want to make sure to take the best decision. The first one is in Montreal and is ...

    3 comments6 May 2020 -

  54. So I'm currently working as a fixed income PM in the AM group of a continental Europe Bank (think BNP, Santander, ING...). I applied for the MBA in round 1 and I am waiting to see if I make it to the interview. My post MBA goal is to continue in the ...

    3 comments6 May 2020 -

  55. Hi guys, I am entering my first job out of Master's program in econ and finance. Any advice would be appreciated. I got several offers, and I am choosing between Commerzbank NYC in sales and trading (temp), CME Group NYC as a junior market risk analy ...

    3 comments6 May 2020 -

  56. I had an on campus interview with a BB for sales and trading last week. Never heard anything back until today when the recruiter called me asking to set up another call soon. I told her I was going to be in NY the next few days so it would have to be next ...

    3 comments6 May 2020 -

  57. Interview with a quant?

    Sales and Trading

    Will be interviewing with a quant at a major BB in Sales and Trading based in Asia....any inputs would be greatly appreciated. Thanks! BB Sales and Trading All Asia Pacific ...

    3 comments6 May 2020 -

  58. Thought eqt and S&T in general were dying? Long term pro/con of biz @ BB. Sr. Lvl Feedback pls. BB Sales and Trading Advice S&T derivatives equity derivatives future for sales and trading ...

    3 comments29 Mar 2018 -

  59. Type of meeting

    Job Search Advice

    Hi guys.. Trying to get a better read on situation. Have been communicating with a guy in sales and trading in Europe... He has been nice, but about 2 months ago he said that he wasn't sure about upcoming opportunities.. Anyway, I emailed him yesterd ...

    3 comments6 May 2020 -

  60. BB S&T Question from a Clueless Undergrad

    Investing, Markets & Macroeconomics

    BB Sales and Trading ...

    3 comments5 Oct 2015 -

  61. Hi everyone, I have recently met a few people from S&T and PWM. They have a really good impression on me and I guess I have decent chance getting an interview at these two departments. However, my ultimate goal is working at a more analytical role (li ...

    3 comments21 Oct 2014 -

  62. Rates Desks

    Sales and Trading

    Hi, I will be interning on a rates desk this summer and I wanted more clarity on the way the business is setup. Is it standard across most banks? Will desks be divided by region or by products e.g. bonds, IRS etc. If given the choice which product or regi ...

    3 comments3 Mar 2014 -

  63. Hey guys! I am looking for some advice for my choice of graduate studies. I am considering the following options but don't know which one to choose: Masters at Oxbridge for 1 year. Pros: The name, gets me in the target schools for FO, great networkin ...

    2 comments16 Apr 2018 -

  64. I am a sophomore majoring in Applied Math and Econ at a target school. Recently I was offered a rotational role with JPM through their Markets Internship program, and I am trying to understand how accepting it might fit into my hopes of going into PE out ...

    2 comments5 Dec 2016 -

  65. Hi Everyone, I'm a sophomore from a target school concentrating in finance. I was able to get invited for an accelerated superday back in September with a BB and accepted the offer soon after. I was curious if there is anything I should be doing in t ...

    2 comments4 Nov 2016 -

  66. Hi, Has anyone received the invitation to superday (final round/AC) after the second round phone interview? Thanks so much! BB Sales and Trading Interview ...

    2 comments22 Dec 2015 -

  67. Good evening monkeys, Currently a senior at a non-target going through the interview process. As of today, I have just received a formal offer to be a FA at top tier wealth management firm (think MS, BAML). However, I truly want to be in sales and trading ...

    2 comments23 Mar 2015 -

  68. S&T first round?

    Investment Banking

    What to prepare for first-round? Some firms tend to do poker, game theory,and stats problems. Ideas guys? BB Sales and Trading ...

    2 comments16 Dec 2014 -

  69. I just got an offer for a commercial credit training program at a regional bank. Not exactly what I'm looking to do, I've been pursuing sales & trading opportunities. Some banks have told me to keep in touch etc, but no offers as of yet. Wit ...

    2 comments5 May 2014 -

  70. Hi, I am a junior student at a semi target university. I applied to SA 2020 internship at JPM, GS, MS and CS from late August to earlier September. But I know that for these banks, recruitment is on a rolling basis. Am I too late to even get an interview ...

    1 comment11 Sep 2019 - Prospect in S&T - Other

  71. Textbooks/Useful Content For Rates/Macro/Bond Math?

    Investing, Markets & Macroeconomics

    Does anyone have some useful textbooks for relevant info in Rates S&T? Anything along the lines of Macroeconomics/Interest Rates & Bond Math would be great. BB Sales and Trading Macroeconomics ...

    1 comment20 Jul 2019 -

  72. Title is pretty self-explanatory. I have a 2020 internship offer from both sides and looking to hear what factors played into your decision for choosing one or the other. Thanks BB Sales and Trading Asset Management Equity Research #finance #IBD investmen ...

    1 comment21 Jun 2019 -

  73. I secured a summer analyst role at a BB for S &T, but am flirting with the prospect of joining a boutique full-time, particularly those with prop trading. I currently attend UChicago and was wondering if this move is common, or is it extremely hard to ...

    1 comment12 Apr 2019 -

  74. I am a rising junior at a Harvard/Wharton, working in Sales and Trading at a lower BB in NYC (Barclays, DB, UBS, CS), in a frat, GPA will likely be 3.7-3.85 after this semester. I would be very happy to sign GS /MS/ JPM IBD for my junior summer. Should I ...

    1 comment6 May 2020 -

  75. So, I'm a rising junior at a non-target and have been networking my ass off. I got in contact with an MD on the trading floor at baml and they essentially told me they'd recommend me to their team. After seeing this, I submitted my app within 2 ...

    1 comment2 Aug 2018 -

  76. BB S&T SA First Round Advice?

    Sales and Trading

    I have an upcoming phone interview first round at a BB for Sales and trading. I've read online that I can expect mostly fit questions. However, I know very little about S&T and do not have much time to prepare. While I follow the stock market fai ...

    1 comment23 Jul 2018 -

  77. Hello all! ...

    6 May 2020 -

  78. Curious to hear what the call and meeting targets are like in a sales role at a bank, either PWM as an advisor gathering assets, or in equity sales. Currently in an AM sales role at a vendor, and have a feeling our call targets are not very high, but woul ...

    1 comment6 May 2018 -

  79. Barclays v. RBC for SA S&T

    Investment Banking

    Received summer offers to both Barclays and RBC in NYC for Sales and Trading. Thoughts on each firm? Looking for somewhere I would be able to grow most quickly and learn the ins and outs of the business best. Barclays RBC Capital Markets RBC FI Sales Equi ...

    6 May 2020 -

  80. Hello fellow monkeys! I am a student from Asia Pacific and will be graduating in May next year. I've done 2 past sales internship 1 of which was at a boutique and am currently in the process of applications to both Sales & Trading roles (both gra ...

    1 comment6 May 2020 -

  81. Freshman S&T internship at BB

    Job Search Advice

    Hello everyone, During the summer, I had a short S&T internship at a BB in Asia that I was fortunate enough to get through my family connections. However, despite the brand name, I basically did a bunch of grunt work and virtually nothing significant ...

    6 May 2020 -

  82. Hi All, I'm in a bit of a sticky situation. I just joined a BB a few months ago in the Val Control group, after doing about 1.5 years in a quantitative valuation/ advisory role (advising clients on complex derivative transactions) at a big 4. Well, t ...

    1 comment11 Mar 2018 -

  83. Barclays Cross Asset Sales

    Sales and Trading

    Not sure how to prepare for this interview. Read up on derivatives? Any insight appreciated. Below is the description Description: About Cross Asset Sales Cross Asset Sales is a global team dedicated to providing tailored and innovative investment solutio ...

    1 comment23 Nov 2017 -

  84. Structuring vs Equity Research

    Sales and Trading

    [Deleted! No longer relevant.] [Deleted! No longer relevant.] [Deleted! No longer relevant.] [Deleted! No longer relevant.] BB Sales and Trading Equity Research corporate derivatives equity derivatives associate exit culture ...

    1 comment9 May 2018 -

  85. Does anyone know anything about structurized Product Origination group under capital markets? I'm mainly looking for type of work, hours, base salary, bonus, and path of moving up the ladder. Thanks guys! BB Sales and Trading ...

    21 Jul 2017 -

  86. Hi monkeys, I have lurked here for a while and I decided to make a thread to ask you guys a question. I've researched everywhere and I never reached a single answer regarding the difference between both areas. I'm able to rotate between differen ...

    1 comment15 Jul 2017 -

  87. Hi all, I have an FX sales interview coming up within a BB. What kind of questions should I expect? I imagine all the fit and market questions will come up but I'm not sure about technical questions. Should I expect the same level of mental math and ...

    5 May 2017 -

  88. Didn't manage to land an SA gig in S&T... Gonna bust my ass in preparing for the FT round over summer. I understand that it's a lot more difficult to land an FT gig with no prior experience, but I won't let these statistics stop me from ...

    15 Mar 2015 -

  89. How do you get a job at a BB

    Job Search Advice

    Hey guys, I am a junior FE major at CMU. I have a good GPA(3.5+). I'm joining a large japanese bank this summer as a summer intern. However I really want to work at a BB. Particularly MS/ JPM. Any tips or ideas about what I should do to try and get m ...

    1 comment8 Mar 2015 -

  90. I have a question for the people who are in their first 1-5 years at a bulge bracket bank. 1. Given the reputation and natural deal flow, what percentage of your time is spent initiating brand new relationships? What percentage is spent maintaining existi ...

    1 comment5 May 2014 -

  91. Hi there, I'm a final year ugrad maths student from a good but not great University. I was wondering if anyone could offer advice regarding whether a job in Structuring would be much more competitive/difficult to break into than a Sales job on a deri ...

    1 comment12 Apr 2014 -

  92. S&T to Tech Startup

    Sales and Trading

    Hello All, Im between an offer at a start up and taking associate at the current bank i work at. The bank isnt a top tier bank and we pay isnt the best but i do like the people i work with and i see growth. the start up is a very well funded place and is ...

    1 comment20 Mar 2013 -

  93. Have any of you done an internship in Credit Suisse S&T? I've heard that CS is one of the better BB 's for S&T, but what exactly is the culture like there while working? How were the initial first and final round interviews? BB Sales and ...

    1 comment20 Jan 2013 -