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Sales skills: very personable and able to shoot the shit friendly; you should be able to talk at length about all things other than finance and markets, you should be able to establish a rapport, be able to relate to your clients interviewers in this case and be able for them to relate to.
Knowledge and passion for the markets: you should be very knowledgeable about the markets and at the very least have a solid understanding about the product group in which you're interview.
Its sales salesman As you develop your rolodex associate level and beyond , bonuses are tied to how many commissions on trades you generate. Typically the bigger the spreads on the product, the higher the comp. Back in 07, exotic credit salesmen which involves structuring deals in London were making k usd base and 4 mil usd bonuses at the MD level on average. That's the highest it's probably gotten in recent memory.
For the majority of products and market conditions, big hitters probably pull down 1 to 2 mil in bonuses, and have standard base salaries. Expense accounts are usually generous when it comes to client entertaining.
Sounds like GoodBread might know what he's talking about. I don't have first-hand information about sales guys salaries and firm policy prevents me from even throwing out a guess, but I'll say that if you go into sales because you're pretty sure you'll enjoy selling stuff, you're not going to be looking at somebody else's pay in five years and say, "Oops.
I made a mistake. Should have gone into XXXX". You'll say, "Yes, he earns a little more than me, but he's aged ten years in the past five, so I got a better deal than him. Client Trading Sales is the pinnacle of sales as a profession. You can't make anywhere near as much money elsewhere in sales besides maybe consulting. My mom, who works in Pharmaceutical sales, would probably be able to retire if she were able to save up what these guys earn in a year.
I appreciated finding this thread as someone who is leaning towards sales- trading. Any more comp numbers would be great at all levels and desk specific if that is available. Sales vs. Welcome to the site, jcsiv. For really basic questions such as this people will often tell you to search for pre-existing threads - and this is good advice.
There's a general FAQ section that has a good overview of sales versus trading. Traders are the ones who will create prices for complex products such as derivatives, and actually execute the orders that clients place. In all seriousness though, dude, enjoy the rest of your times in high school and in college. You have some serious good times ahead.
Hey guys, I know there has been a bit written about this in the past but there is nothing that fulfills what I'm looking for I was just wondering about the differences between a normal sales say equity sales person and a sales-trader Are there big differences in terms of exit opportunities, salaries..
Basically, I am just about to start a summer internship at a BB in sales - I will be doing two rotations - one on an equity sales desk, and one as more of a sales-trader for listed derivatives to hedge funds, etc. Would I be right in thinking that a sales person would generally take home better compensation and have better exit opportunities??? Do sales-traders just take order?
Or do they actually provide ideas, and try and sell?? Any expertise at all on the whole sales or sales-trader, or anyone's preferences, would be a great help I would imagine that a successful trader will have the opportunity to make much more than the salesman if his bonus parallels his value to the firm.
Sales is sales. He who has the knowledge to actually execute the trades is at a much better advantage in the long run. Traders don't just take orders. They execute trades using the firms money and their own discretion. If the firm was calling all the shots, the entire trading process could be automated.
Think of the potential value somebody with a past in sales holds as compared to somebody with experience as a trader. Outside of the big banks, the trader has the potential to bring smaller firms some value as a trader whereas the salesmen's role is virtually non-existant what is there to sell?
That's the way I see things. They do add a fair but of value as well. Alot of their job is providing market color to clients, while their actualy trading is mostly consistent of working huge orders that would move the markets.
They also have to take on risk, as large orders will force them to take on a position for a period of time. For this reason, I would think that they would be compensated a bit better for that reason. Molestiae cupiditate dolorem consequuntur ut quia.
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Join Us. Already a member? Sales and Trading - A Comprehensive Guide. Can't tell the difference What is Sales and Trading? Here is a basic idea of each of those functions: Sales: Pitch the firm's ideas to clients to sell securities and build relationships with clients. Trading: Trade securities, typically in two ways there are other means of trading, see "Different Kinds of Trading" for more on that : trading for the client or trading with the firm's capital called agency trading and prop trading , respectively.
Prop Firm vs Hedge Fund Prop shop trading and hedge fund trading are two different beasts that are frequently mixed up. Log in or register to post comments. Comments 59 Add comment. Hey I'm not really sure, but here is my 2 cents worth I think the Sales team will pitch to clients, build relationships and generally sell the bank ideas to clients. Investment Banking Interview Brainteasers.
Dec 13, - am. Grover Cleveland:. Financial Modeling Courses. Best Modeling Courses - Finance Training. Learn more Suggested Resource Learn More. Learn more. Dec 14, - am. Toughest PE Interview Questions. Investment Bank Interview - Toughest Questions. I'm assuming everything is done on the computer? Private Equity Interview Questions. View 8 replies. See my WSO Blog. Hedge Fund Interviews. What you need to show: Sales skills: very personable and able to shoot the shit friendly; you should be able to talk at length about all things other than finance and markets, you should be able to establish a rapport, be able to relate to your clients interviewers in this case and be able for them to relate to Knowledge and passion for the markets: you should be very knowledgeable about the markets and at the very least have a solid understanding about the product group in which you're interview Be able to sell: they will WITHOUT EXCEPTION tell you to sell them something, ask you to make them a market for X Its sales salesman Bottom line: know your client, know your shit and be able to sell.
Can anyone quote a salary figure? View 1 reply. Use the fucking site. Under my tutelage, you will grow from boys to men. From men into gladiators. Best Response. HF Interview Questions. Sales or sales-trading? Investment Banking Interview Questions.
Nov 6, - am. Hey mp, you have no idea what a sales-trader is, do you? Leave this field blank. In quia numquam deserunt. Natus suscipit rerum cum modi voluptatem quo. Related Content See more. Anyone interested in a comprehensive guide for trading? Sales vs Trading. Comprehensive List of Buyside Firms that hire out of undergrad. Teller's Comprehensive Guide to Diversity Recruiting. Want to Vote on this Content?! No WSO Credits? Sorry, you need to login or sign up in order to vote.
As a new user, you get over WSO Credits free, so you can reward or punish any content you deem worthy right away. See you on the other side! Join Us Already a member? Sales are the first and important activity in an investment banking firm. Salespeople play a vital role in the firm, where they generate an idea and various investment opportunities for the investors. To meet the expectations and avoid the need to buy the part of remaining shares, salespeople play a very important role to do this job for investment banks and make sure to sell the required number of stocks successfully as committed.
To know what types of investment the traders are majorly focusing on they also develop good relationships with large investors. In some traditional broker firms, salespeople also act like traders. Traders need to maximize the profits for the risk they are taking. Traders continuously watch the market and use the pricing charts on some well-known terminals like Bloomberg to execute the transactions with accuracy.
Commonly there are two types of trading, agency trading and proprietary trading. In agency trading, traders act like as an agent and in the proprietary trading, traders have the freedom to trade on behalf of banks. But proprietary traders have some limitations to take the risks set by the investment banks. As we have seen both sales and trading activities are very crucial tasks in an investment bank. In an investment banking firm sales job is the face of trading.
Salespeople need to focus on volume as it will lead to more commission. Traders are more of a trading-oriented job as they need to focus on maximizing profitability using their strategies to trade. In the latter days, the trading of commodities, fixed income securities, derivatives has been booming in comparison to equity trading because of technological advancement in trading software and terminals.
Both sales and trading play an important role in the profitability of the bank. This has been a guide to Sales and Trading. Here we have discussed the Sales and Trading key differences with infographics and comparison table. You can also go through our other suggested articles to learn more —.
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