Comments on: Sales & Trading Exit Opportunities: The Top 10 Ways to Make Your Escape

By: M&I - Brian

M&I - Brian — Mon, 10 Jul 2023 22:31:17 +0000

In reply to Idris. It might be helpful because many macro strategies involve derivatives for hedging purposes. Maybe it's not directly relevant, but if you're using something like equity indices as part of your strategy (since macro encompasses almost everything), any type of derivative experience might help. But it wouldn't necessarily be my top choice for global macro hedge funds vs. commodities, currencies, etc.

By: Idris

Idris — Sat, 01 Jul 2023 03:23:16 +0000

You mention Delta One equity derivatives desks to be good for exit opportunities in the macro space – could you touch on why that is?

By: M&I - Brian

M&I - Brian — Wed, 23 Nov 2022 22:48:46 +0000

In reply to Grateful. Thanks! Glad to hear it. When I started this site in 2007, there were pretty much no other financial career blogs...

By: Grateful

Grateful — Tue, 22 Nov 2022 17:40:20 +0000

(Not related to this specific article, don’t know where to write this)
I just wanted to express my deep appreciation for all the hard work and effort you put into this site. The content is very high quality; in my opinion it is much better than other financial career blogs. You articles are all well written, clear, and thoroughly researched. I am always learning something new through your site, and it gives me a good overview of the financial industry.
Thank you, Brian.

By: M&I - Brian

M&I - Brian — Wed, 16 Nov 2022 19:26:52 +0000

In reply to Conner. Thanks. Unfortunately, I don't have any information on that, and banks have been less transparent over time about traders' compensation. It used to be based on simple percentage splits, but now the formula is more complex and arbitrary. We might try to cover this topic eventually, but it's incredibly difficult to get anyone to speak about it on the record.

By: Conner

Conner — Tue, 15 Nov 2022 17:40:14 +0000

Great article yet again! I was wondering, do you have any resources regarding how a trader’s PnL is structured at different stages in their career, and how PnL has changed in the past decade? I’ve been interested in this and I’ve found it difficult to look into.

By: M&I - Brian

M&I - Brian — Thu, 10 Nov 2022 04:23:41 +0000

In reply to Nathan. Thanks. I think electronic trading is not the best area for exits that might eventually lead to PM roles. It would lead more naturally into execution trading in most cases. If your role is quant-heavy, you might be able to win quant fund roles, but it depends heavily on what you're doing there. The biggest issue is that electronic trading in equities is commoditized, so it's hard for individuals to stand out much.

By: Nathan

Nathan — Thu, 10 Nov 2022 02:29:07 +0000

Thanks Brian for such comprehensive and insightful article. What do you think of the exits of electronic trading (mostly equities, occasionally equity derivatives) in a BB? Is it more like an execution trader exit or there’re still chances to roles like PM?

By: M&I - Brian

M&I - Brian — Wed, 09 Nov 2022 22:58:48 +0000

In reply to Jonathan Trabucco. It is very impressive to go from $15B to ~$0 in 24 hours. Not sure why SBF didn't just sell and flee to an island...

By: Jonathan Trabucco

Jonathan Trabucco — Wed, 09 Nov 2022 22:47:42 +0000

Talk about cyclical in the exit opp to crypto lol. All the FX junior traders hoping to switch over to a crypto trading shop must be bummed