M&I Podcast Episode 001 – Sales & Trading Compensation in 2014

10 Comments | Podcasts, Sales & Trading - On the Job

Sales Trading Compensation 2014

When I sent out an announcement a few months ago asking for questions about sales & trading, I didn’t quite expect the response we got.

That one simple email generated 500+ questions, many of which were detailed and intelligent, and therefore way above my pay grade.

To solve that problem, I brought in an associate editor who’s written several great articles on S&T in the past, including one on the equity trading floor and another on a day in the life of an options trader.

He has trading experience on both the sell-side (bulge bracket bank) and the buy-side (hedge fund), and he also managed to write the best S&T interview guide I’ve seen, plus a great guide for S&T internship prep at salesandtradingcareers.com.

We sat down to discuss the most interesting S&T-related questions first – in other words, the ones about salaries and bonuses.

Here’s what happened:

How to Win a Sales & Trading Internship in Hong Kong from a Non-Target School – Without Even Being from Asia

12 Comments | Sales & Trading - Recruiting

Sales & Trading Internship in Hong KongOne region where it’s notoriously difficult to win internship and full-time offers is Hong Kong.

Not only are you competing with approximately half the population of mainland China (they’re even more obsessed with finance), you’re also up against candidates from other East Asian countries, plus plenty of people studying in the US, UK, and other regions.

And then there are the language tests, difficult technical questions, and the need to go there in-person for part of the interview process.

But it’s still possible to win offers there even if you have no family background in Asia and you’re coming from a non-target school.

In this wide-ranging discussion, I get an M&I reader to explain:

  • How he won a sales & trading summer internship;
  • How to network when you’re overseas; and
  • What to expect in sales & trading interviews, assessment centers, and more… in Hong Kong.

Getting Interested in Finance and Running Off to Asia

Sales & Trading Internships: The Top 9 Ways to Go from Internship to Full-Time Offer

34 Comments | Sales & Trading - On the Job

Sales & Trading Internships to Full-Time OffersThis is a guest post from “DerivsTrading,” who founded S&T Careers.com to teach you how to win bulge bracket trading interviews and offers and ace your assessment centers. He’s an experienced flow options trader currently working at a bulge bracket bank in London, and he defied the odds to break in coming from a non-target school.

Six years ago I had beaten the odds and managed to secure a trading internship at a bulge bracket bank in London coming out of a proper non-target.

I thought I was done: after all, the networking and interview prep to win the internship was the hard part, right?

Wrong.

An internship means nothing if you can’t convert it into a full-time offer, and it’s arguably even harder to do this in sales & trading than in investment banking.

You might be competing against 15-20 other interns who are just as qualified as you, if not more so.

And you cannot underestimate the importance of rocking your internship to win a full-time offer – in the “post-financial crisis economy” there are very few spots for graduates who were not previous interns.

Winning an offer doesn’t just get you a full-time job at the bank you interned at, but it also gives you an automatic reference for other places you want to apply to and a “Plan B” option.

There are already tons of articles on this site on how to succeed in your internship, but most of them are focused on investment banking or corporate finance roles – so I wanted to detail some of the smaller details that go into making a sales & trading internship successful.

We’re going to look at everything from your wardrobe (Brian’s favorite topic) to pre-internship preparation, food orders, networking, trading games, and more: