| Topic Name: |
Institutional Sales |
| Message Name: |
Thanks for the reply |
| Date Posted: |
07/05/2000 |
| In Reply To: |
It's definitely possible to get into S/T without being formally recruited/trained. Indeed I have a non-finance undergrad degree as well. This may not be what you want to hear, but there is a good amount of luck and networking involved in getting on a sales or trading desk. I am in a junior role on a sales desk and I heard about the position from "a friend of a friend" who recommended me. You can't be an idiot of course, you have to be competent, driven, ambitious and "hungry" as well. Many people I've spoken to in my firm and in other firms have told me the same, that you need to know someone in the business.
An assistant or supporting role in a front-office position is a great place to start. Just about everyone on our equity desk (we are a significant dealer by the way) started either in research, i-banking, or some type of assistant role.
Once you are in an assistant or supporting role it helps to show initiative (by taking industry exams, courses and even getting a CFA) and by being frank about your ambition to get on the desk.
With the amount of turnover there is in this industry people often find themselves parachuted into a position with little warning. From there it is sink or swim to a great extent.
Hope that helps. |
| Message: |
Thanks for the reply,
I am currently pursuing equity research (buy and sell side), but if I did that for a couple of years and grew tired of it, then I can easily switch to S&T. Provided that I am with a good firm.
I ask because I always had the impression that if you went into a non-S&T job within Ibanking, then its hard to make the switch. But if I read you correctly, then you can definately make the switch?
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