sales or trader?

NPhard · Post by **NPhard** » Sat Nov 24, 2007 2:14 am

Hi all

I have received offers from two different departments, Jr Sales in Equity Derivatves and Trader in rates and currency. Other conditions are pretty much the same, location(HK),people,reputation of the firm and so on. Given my background, ED seems attractive to me... but the thing is what I can do after 10 years in sales.. I understand it's still a fast growing business but......

I would like to set up my own fund in 10 yrs, whether it is related to cash equities or derivatives doesn't matter... anybody could give me an advice on this?? Any comment greatly appreciated!!! Help!

sharpend · Post by **sharpend** » Sat Nov 24, 2007 2:30 am

In HK I would go with ED. If you are good you can move to the buy side with ease. More upside too if you are covering institutions. And if you want to manage money one day, stay away from exotics.

NPhard · Post by **NPhard** » Sat Nov 24, 2007 2:55 am

Thank you for your comment. truly appreciate it!

Curious.. you said that I can move to the buy side but if I want to manage money stay away from exotics. I couln't get it clear.. what's the difference?? between

1. buy side vs. managing money

2. exotics vs. ED

Thank you for your help in advance!

sharpend · Post by **sharpend** » Sat Nov 24, 2007 3:25 am

managing money is part of the buy side.

exotics are an infrequently used tool for equities funds. and wouldn't help you as much towards your ultimate career goal.

anyhow, depending on your personality you could have a lot of fun in HK in sales.

NPhard · Post by **NPhard** » Sat Nov 24, 2007 6:32 am

Thanks for your reply sharpend!!

Any other knowledgeables???

filthy · Post by **filthy** » Sat Nov 24, 2007 5:07 pm

i know nothing about you so i can't really comment on the suitability of your background to either role but a couple of things seem obvious.

first, sales and trading are vastly different jobs and require totally different mindsets. this distinction is far greater than the difference between ED and rates. traders switch products and areas all the time, but traders are not salesmen and salesmen are not traders. which of these do you want to be?

secondly, a lot changes in ten years. having a long term goal is good, even necessary, but at this point it can only be a vague guide. if you choose soley on that basis you may not prosper enough to ever reach this goal.

"running money" requires both trading and sales type skills (and is really more about management skill than either of those two). go with the route that you are likely to be better at.

Eldesdichado · Post by **Eldesdichado** » Sat Nov 24, 2007 9:20 pm

Dog walker or lifeguard?