| Topic Name: |
Why I want to do IB and not trading: |
| Message Name: |
re |
| Date Posted: |
01/17/2004 |
| In Reply To: |
I recently chose a banking job over a trading job, and I actually posted a thread about it a little while ago.
I spent the summer at JPM on their high-yield bond/credit derivative desk, and I thought the experience was great. There were certainly some moneymakers on that desk, but doing well is not as simple as identifying which areas will be a hotspot. In fact, from my understanding, credit default swap options don't yet exist...I could be wrong, but last I heard, JPM was structuring a product to trade options on a credit index, but not on individual swaps.
Anyways, gastrader, I was hoping to get some feedback from you. As I said earlier, I chose banking at MS in their M&A group over my JPM trading job. My question to you is: Which one is a better route to hedge funds?
I interviewed with Citadel this year and made it to final rounds, but did not receive an offer. After that, I really wanted to focus on the job that would give me the chance to move to a hedge fund as quickly as possible, and not as an execution trader. I felt that the banking job would give me the experience in fundamental analysis that the trading job wouldn't have. Granted, I gave up the chance to work with an amazing mentor in a field that is rapidly growing at JPM.
Your opinion is appreciated. |
| Message: |
True it isn't that simple but a lecture on the credit default markets is beyond the scope of this board...For an introductory explanation see Credit Default Swaps 101 from the Aug '00 issue of Derivatives Strategy.
Having said that, I do know of at least one option on a credit default swap being executed.
Re: your question, which one is a better route to a hedge fund, it all depends on the type of fund that interests you.
Your current job will provide good experience and look nice on a resume but at the end of the day, what do you want to do: trade, research, quant analysis, etc?
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