I had an interview yesterday and didn’t know what I was going in for (someone set it up for me). At the interview they described the team as a middle market institutional sales team that resides within PWM. The duties would include listening to the daily equity research call, taking notes, cross refrencing with the client’s interest in different sectors and calling them to execute trades on their behalf. It would also include getting them access to syndicate, secondary offerings and in house research reports. I have never even considered doing something trading before. Is this a pretty common job description? How is this different from institutional S&T?
The role is opening because the previous person is moving to an in house hedge fund to work as a trader.
Exit opportunities should point to a portfolio manager role within PWM. Is the skillset useful throughout a career? Yes, if you use it as a foundation to move into higher roles.
Hmm. It does sound like a sales trader kind of role. However, in PWM, is the business really driven by commissions? If not, perhaps it is different from what I know of sales trading on the institutional side.
In terms of exit opportunities, the fact that the previous person in that job changed roles should indicate that the position is relevant to some kind of lateral transfers…