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What to Expect in Your Equity Derivatives Sales Internship in Germany

Have you noticed how almost every “sales & trading” article focuses on trading rather than sales? We’ve covered sales in the past, but most S&T articles have been trading-related. But it’s a mistake to ignore sales completely, especially since it might have a brighter future than trading. I’ve wanted to cover sales in more depth for […]
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Quant Research in Tokyo: How to Join the Machines

If you work in sales & trading, will you be replaced by a machine? Maybe, but there are ways to reduce the risk of that happening. One of the best is to learn to program and move into a quantitative role. No matter how much artificial intelligence advances, computers probably won’t be able to program […]
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The Distressed Debt Desk: The Best Way to Combine Sales & Trading and Investment Banking?

Sometimes, you just can’t decide. The public markets… or deal analysis? One solution is to join the capital markets team, but another is to join the distressed credit desk – not as an execution trader, but in research. You come up with the ideas, and the traders execute them. Not only is the work more […]
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Forex Brokerage: The Best Path into the Finance Industry in Cyprus?

Does your location determine your destiny? Maybe not, but your timing and location make a big difference. For example, if you had graduated without a job in 2009 and you wanted to work in finance in New York, you probably should have starred in a Mission: Impossible movie instead. Cyprus is another region where timing […]
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Distressed Debt Investing at a Boutique Firm: Better Than a Bulge Bracket Sales & Trading Offer?

In the post-financial crisis economy, most people would be ecstatic to get a single offer on any sales & trading desk of any bulge bracket bank. Forget about the desk itself, the type of work, the group’s performance, or the team – just winning the offer should be an amazing turn of events, right? Maybe not. Years ago, […]
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The Equities Trading Floor: What You Really Do Every Day, and Why You Don’t Even Have to Work in Dallas

This is a guest post from “DerivsTrading,” an experienced options trader who has worked at both bulge-bracket banks and hedge funds in London. He defied the odds and broke into sales & trading coming from a non-target school. Traders often think of Equities as the ugly friend of the girl/guy you’re trying to hook up […]
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Prop Trading vs. Bulge Bracket Sales & Trading: Fatty Bonuses vs. Restrictive Regulations That Drain Your Bank Account?

If you want to be a professional trader and you’re just starting out, you’ve got 3 options: Go work in sales & trading at a large bank. Join a prop trading firm (or hedge fund). Sit at home in your bathrobe day trading via an online brokerage account. If you’re reading this, I’ll assume you’re […]
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Equities Gone Wild: How to Break into Institutional Dealing at an Investment Bank

Let’s be honest here: nobody really wants to work the punishing hours of investment banking. You do it because it’s a rite of passage, and because there’s a distinct (if tiny) possibility that you’ll be on top of the world if you manage to hold out for the next ten years (well, at least if […]
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From Engineering to Prop Trading: How to Make the Leap, and How to Survive on the Job

“It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.” -George Soros Continuing with our series on how you can sell out and quit engineering, today we’re speaking with a reader who spent two years straight out of school […]
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Convertible Bond Sales 101: Got Liquidity?

Sales & Trading, Sales & Trading, Sales & Trading… Only we’ve covered far too much of the “trading” side and not enough on the “sales” side. Actually, change that to “nothing” on the sales side. But that changes with the first interview in our series on institutional sales in different parts of the world. Today, […]
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Consulting vs. Trading vs. Entrepreneurship: Got Lifestyle?

This article was guest-written by Zeke Lee, a Stanford graduate, former management consultant, and former derivatives trader on Wall Street. He founded the GMATPill.com, a video-based GMAT prep course for ambitious MBA candidates that was recently featured in Bloomberg Businessweek. So you’ve reached your last year of university – or maybe you’re in your late […]
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Prop Trading 101: How You Break In, What You Do, and How Long It Takes to Make $10 Million and Retire to Your Own Private Beach in Thailand

  During my final year of university when I was recruiting for finance jobs, I never put much thought into prop trading. But then one day I saw an interview slot listing for a mysterious “proprietary trading firm” and immediately asked my trader friend across the hall whether I should apply. “Dude,” he said, “You […]
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Traders and Brokers: Bud Fox vs. Gordon Gekko?

Assuming you’ve seen Wall Street (the awesome, original one, not the watered-down sequel) – it is a requirement to work in finance, after all – you know something about traders vs. brokers. The traders are like lone wolves who go in and make tons of money by making quick decisions… But supporting every successful trader is […]
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All About Automated Trading: What It Is and What It Isn’t

[This is a guest post from a reader who currently works in an arbitrage development team. He wanted to clear up a few points about what “automated trading” is and isn’t.] Ah, taking a mid-day nap and waking up with extra money in your trading account… who wouldn’t want to make money while sleeping? That […]
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What You Actually Do In Sales & Trading, Part 2: Equity Trading

While there are plenty of day-in-the-life and week-in-the-life stories detailing what you do in investment banking, there’s surprisingly little information on sales & trading. We started to fix that problem by looking at what you do in fixed income – besides bankrupting your firm and causing the economy to spiral into a bottomless abyss. This […]
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What Do You Do In Fixed Income Besides Bankrupting Your Firm with Toxic Assets?

If you’re reading this, you probably don’t know too much about what you actually do in investment banking and sales & trading beyond a lot of work, Excel, and models and bottles. Why else would the articles on Mergers & Acquisitions, Restructuring, and UBS LA be among the most popular ones here? We’re going to […]
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Credit Derivatives Trading in Tokyo: Interview

Continuing our series of interviews with bankers / financiers in different parts of the world, today we’re speaking with a friend of mine from Stanford who worked in credit derivatives trading in Japan and then founded his own trading firm… after only 1 year of work. A lot of readers are interested in going to […]
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