Hi, I was just wondering whether people who work in S&T get any time off apart from the public holidays when the markets are closed. i.e do any of them get to go on a weeks vacation with their family or so?
13 Jul 2015
Banks are downsizing all their desks (equities, commodities, derivatives, FX, FICC) and FO positions are being cut too because of IT, algo and such. Support functions are increasing heavily. Still remain prop shops (a lot of competion, I heard you gotta have PhD in mathematics Ivy league pedigree...) and HF (only recruit experienced traders who are recruited on behalf of huge positive) track records. So here my conclusion : do supermajors and commo houses are the future for traders ? In terms of career path, exit ops, compensations (paid by cash there, not the case in banks anymore). Thanks
05 Jul 2014
Hey Guys, Pretty standard thread... Incoming summer analyst at BB and am wondering the best desks, specifically for trading. I am aware that the answers may depend bank to bank, but I am specifically interested in trading and eventually moving to the buy-side. Generally speaking, what are the best sell-side desks to set you up for a career on the buy-side (hedge fund)? Thanks all.
14 Dec 2014
Hi everybody, in another thread I asked about some opinions towards two graduate programs in which I got admitted, LSE MFin & CMU MSCF, which would ideally set me up for BB S&T, where CMU would be good for US (NY) and Asia (HK/SGP), and LSE for UK(LDN). But what I would like to get your view on here is: If you were to start your career in S&T today (or in 1-2 years) and you had free geographical choice, where would you start out? Things to consider are probably: - regulation - business volume - pay - exit opps to buyside (ideally credit- or macro-related fund)
24 Mar 2015
Hey guys, I have a sibling who's a director at bulge bracket in S&T and I was wondering how I can leverage this to get a SA stint. I have already shadowed her for a few weeks and in other areas of the bank, however I get the feeling that if anyone else was privileged enough to have a close relative in a BB they would be better at exploiting it than I am. She joined the firm around 2004 and so her expertise in applications have been long forgotten but she has helped me by proof reading my apps. Other than that, she finds it difficult to find time to explain to me her industry in-depth.
11 Oct 2014
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 / early next semester? I understand that they hire most of their first-year FT from SA. Thanks a lot in advance!
08 Feb 2015
Okay, so you are just graduating and have a FT job offer from a top prop trading firm and top BB bank on a trading desk. Which do you choose and why? Just interested as to which of the two people would go for in the current financial climate considering it is your first role out of college. What factors would influence your decision? (Pay, training, particular firms, turnover rate, location, etc.)
27 Jul 2012
Anyone have any info on this? I have an SA interview coming up and I read that the group was recently formed by combining the Global Markets, Global Collateral Services and Prime Services groups. Would this essentially be an S/T internship? A large portion of their revenue comes from FX and Securities Lending
14 Feb 2015
Hey guys, I've been lurking around these forums for the past couple years but just now am posting in desperate need of some opinions/insight. It's finally come time for me to go with an offer: a.) BB S&T 2 year program (Sales side - only option in SF, so annoying hours) b.) Valuation in a Big Four TAS group Originally I was more thinking I'd end up in IB so I may be looking to make the shift later on. Right now S&T compensation is slightly better, but skill set/exit opportunities I'm not so sure. Plus there not "guarantee" after the 2 year program is done I get into the NY program (thats the
07 Nov 2014
I had a superday on Thursday and then a skype interview the day after with an MD. Is this good or bad that I had another interview after my superday? When should I hear back?
05 Oct 2014
Hi guys, I currently have a big dilemma. I am currently studying at UC Berkeley and I want to major in economics, not business. However, it seems to me that everybody thinks only Haas is a target (at least for IBD), and my chances coming from econ are slim. But on the other hand I would much rather work in S&T for which Berkeley is not a target anyway. Would it still be a bad idea to study economics instead of going to Haas (I really want to study econ)? Also, would it be a good idea to double in applied math? Thanks.
29 May 2012
Please help. Have to make a decision real quick. Some relevant info: - Don't care about prestige. I assume JPM wins on this front in the US. - Interested in FICC but don't know which area: which bank is stronger in FX? rates? credit? mortgages? commodities? Have seen the Citi report with the circles but I assume that's outdated by now. - Health: which bank is in better shape? Thanks.
19 Feb 2012
Are public universities developing a presence on Wall Street? Nowadays, more and more kids are choosing state schools in order to avoid the burden of student loans. With the cost of education constantly increasing, some of brightest students whined up going to school somewhere near home; thereby putting them at a "disadvantage" off the bat. But, does this mean they can't make it to the Street? I think not.
11 Jun 2012
This is an addendum to an earlier post. Today I received an additional offer from a top BB Asset Management group. All of my other offers are Sales and Trading. My impression is that AM is more stable, but that the corresponding reward is significantly higher in trading. I've considered the possiblility of transitioning for the AM to the S&T division, but according to my contacts at the firm, this is very difficult. Given this information, should i pursue a straight up S&T internship at MS or DB, or take this top notch AM offer and hope to transition someday?
25 Feb 2011
Just read Liars Poker... I want to know why bond traders-especially mortgage traders-were the most profitable groups for the banks back then. I also noticed that Lewis makes fun of corporate finance people. However, according to everything I've read on this website, corp. finance is better on your resume than S&T. Does top IB talent aim to be part of the most profitable group, whichever it may be at the time? -confusedprospectivemonkey
22 Feb 2011
I'm looking to enter Sales and Trading at a BB after graduation and I'm currently a sophomore at a Top Target (think HYPS). I applied to internships this summer and although I got a few interviews, I didn't get any offers. My question is: What can I do this summer to better position myself for Junior year recruiting (aka when it really matters)? I am trying to network and hopefully get an opportunity at a smaller prop trading shop or perhaps even a boutique ibanking experience. I've also heard having a large brand name (ie. BB) really helps on your resume so I've tried to network my way into some sort of an informal internship in such firms. Has anyone had positive experiences with this and could share some info? Thanks for any and all suggestions.
24 Feb 2012
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?
22 Dec 2012
My primary goal is currently to break into BB's Markets divisions . I think it suits me better that corporate finance and more.. Also, I like the idea to work during the time the financial markets are open (i.e. not work at weekends). But I wonder; How rewarding is sales & trading these days, actually? I mean it's not like you'll earn a 100 000 £ the first year right? Or as in the movies, getting rich by the end of the first month..... Say that you begin as an intern, you get an offer after you graduate... you pass the first year, continuing a second year, and you'll continue a few years more... What should I then expect to earn during these years?? (as a sales person, trader, researcher or other)
09 Jan 2015
I'm looking for resources that goes into detail on common models used in FX S&T. I'm not looking for a "How to Trade" book. I follow the markets but I want to learn more about how analysts in a bank think and what types of analysis and calculations they do, a "Pearl and Rosenbaum" for FX if you will. Any recommendations? Thank you!
16 Oct 2014
From Wikipedia: In Judaism, a rabbi is a teacher of Torah. This title derives from the Hebrew word, meaning "My Master", which is the way a student would address a master of Torah. In the world of sales and trading, yelling and screaming are sometimes inevitable by-products of risk-taking and deal-making. What if you, the lowly first year analyst/associate, found yourself in the middle of an MD-to-MD duel? News flash: Jewish or not, you need a Rabbi. The sellside trading floor is a highly hierarchical place. Therefore, in order to ensure your continued survival and promotion within the hierachy, you need to develop a pair of eyes to identify a Rabbi, and follow him/her.
28 Nov 2012
Please critique my resume, i have been working in S&T for 3 years in a tier 1 Malaysian bank which has little to no presence outside Malaysia. I have been trying to apply to S&T positions in BB for a couple months without hearing back
30 Oct 2015
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 trying. Could any insiders shed some light on how I should prepare for FT recruitment for Fixed Income / Equity Sales? Or which group would you recommend me looking into? FYI, I don't have a finance background, but I have a lot of experiences in sales / client-facing roles. Really appreciate any advice / tips! Whether I'll make it or not in the end, I'll share with the community the recruitment process because I strongly believe that it's important to give back (or try to give back)!! Thanks a lot in advance.
15 Mar 2015
I'm a junior at a target school (non-business major) and have a Summer Analyst position at MS in their Institutional Equities Division (two rotations). If I want to go buy-side eventually or do HF recruiting from undergrad (Available at my school), what should I be doing in terms of placing preferences for certain desks (go for pseudo prop desks, equity derivatives etc). I understand it is limiting going from sell-side and then to buy-side with S&T because skill-set development is too specific in S&T - should I be looking to do IBD FT and then transfer on? Kinda want to know thought + options + whats kinds of skills I should be aiming for.
12 Feb 2015
Hi all, First post on WSO, I'd like to thank you all for providing so much info for the interview prep. Recently got through proficiency tests and first phone interview with the S&T Team at a BB's IBD. Specifically, applying for a year long internship at a Cash Equities Trading Desk. The team is under the IBD umbrella, that executes cash equity trades for large institutional clients. I think this is termed as a MM trading desk for cash equities. There will be no job rotation, and I will be helping out a desk of 6 traders. It will be my first internship, and I'd like to seek opinions from fellow WSO'ers. Questions:
01 Jun 2014