Sales & Trading Jobs and Hiring Information

Read up-to-date job search information about who's hiring, career paths, and how to get the job offer, written by  

JOBS IN SALES & TRADING

Title Company Location
Sr. Technical Analyst - Loan IQ (NO THIRD PARTIES) Di11731 New York, NY
SALES FORCE DEVELOPER Di11731 Stamford, CT
Account Executive, Sales Di11731 Princeton, NJ
Account Manager - Inside Sales Position Di11731 Fort Worth, TX
Technical Sales Engineer - Behavioral Analytics Di11731 Edina, MN
Pre/Post Sales Engineer Di11731 Sunnyvale, CA
Inside Sales Representative - Commercial (Enterprise Software) Di11731 Pasadena, CA
Commercial Sales Executive Di11731 Vienna, VA
Technical Sales Engineer Di11731 Boston, MA
Securities Lending Regional Product Services Manager eF6982 San Francisco, CA
VP - Asset Based Lending Underwriter eF6982 New York, NY
Securities Lending and Finance Fixed Income Prime Brokerage eF6982 New York, NY
Account Executive Di11731 Phoenix, AZ
Financial Mortgage Modeling Associate eF6982 New York, NY
Sr Account Manager/Business Development Manager Di11731 Dallas, TX
Sales Executive - IT Services Di11731 Little Rock, AR
See all 384 Sales & Trading jobs   

Sales & Trading Hiring Information

By FINS

The world of selling and trading securities has gotten more discriminating recently. Since the stock and bond markets turned south in 2007, many traders and sales officials have had to work harder. The credit market freeze has made it nearly impossible to trade some securities, as big banks and other investors wait for the government to kickstart the market.

In other places, business is humming, with volumes still at healthy levels in stock trading and parts of the bond market like Treasury and government agency bonds. Trading discredited structured products like subprime mortgages or other esoteric bonds has gotten tougher, and many large banks and hedge funds have shed personnel in these areas.

For those of you who are just getting to know sales and trading, in many ways it represents the core of Wall Street. Traders and salespeople gauge supply and demand each day, following every dip and turn in the market. Some help investors find new ways to make money, while also finding buyers for the securities that the firm is selling. Others work with colleagues, advising companies in developing bonds or stock deals that help them raise money quickly and cheaply. Both jobs require being fast with numbers and the ability to provide service to demanding clients.

Traders sit in the middle of it all, handling millions of dollars worth of orders for stocks, bonds, commodities and cash. Their goal is managing the firm’s inventory of securities so that customers keep paying commissions and their firms keep buying low and selling high.

WHERE THE ACTION IS

Credit blowups have distracted many of the largest players in sales and trading, but there are many firms looking to take advantage of these missteps.

High volatility in the markets has placed a premium on traders who manage risk well and salespeople who know their clients and won’t betray their trust. More than ever, experience is a plus, as clients want a guide who has navigated the recent market turbulence.

Regional brokerage firms and focused sales-and-trading boutiques are picking up many expats from big banks. Regionals Robert W. Baird & Co. Inc. and Stifel Financial have ramped up their trading desks, while BTIG LLC, a stock trading firm, has added bond trading as Cantor Fitzgerald is expanding its junk bond and loan sales desks.

The easy hierarchy of years past is no more. In the past, traders could move from a boutique to the big leagues of a giant investment bank like Merrill Lynch & Co. Inc. or Morgan Stanley. The big banks from 2002 to 2007 took on more leverage, or borrowed money, to juice up their trading bets. It worked for awhile, but ended disastrously, forcing traders to cut back on the riskiness of their bets.

In months to come, Treasury trading desks will still see a lot of action as the U.S. budget deficit continues to grow. And stock trading desks should maintain a sense of stability, assuming the market doesn’t fall much further. Sales and trading executives with background in battered structured credit will find opportunities with distressed credit and real estate recovery funds.

CAREER PATHS

Because sales and trading is core to most Wall Street firms, they’re a convenient spot from which to see a lot of the firm's business, from banking to trading to serving institutional investors. Working on sales and trading is a great entrée to an investment firm. Sales and trading professionals often go on to become research analysts or creators of new financial products. Of course, if the thrill of betting the firm’s money is in your blood, staying on the trading desk can be lucrative and rewarding, especially if you can learn from your mistakes.

Many of Wall Street’s CEO’s including Morgan Stanley’s John Mack, Goldman Sachs Group Inc.’s Lloyd Blankfein and Citigroup Inc.’s Vikram Pandit came from a sales and trading background. Those who succeed keep clients happy by putting them into the right investments. Being able to sell mediocre investments is a short-term asset for a sales career, but might not lay a foundation for long-term success. On the trading side, avoiding excessive risks is paramount.

Sales and trading is a sink or swim business. A trading desk has only so many spots. For go-getters thinking about testing the trading world, a typical undergraduate/graduate degree profile includes:

- Finance/Accounting

- Macroeconomics

- Mathematics/Engineering

- Computer programming

- Statistics

- Social sciences-behavioral psychology

Some typical career paths are:

Summer associate to research sales to sales manager to sales executive

Financial internship to MBA or CFA to position trader to buy-side trader

Investment strategy analyst to sales trader to proprietary trader

Regarding achieving an MBA, sales and trading is an all consuming job, but an MBA can be used as a foot in the door or to get a kickstart on some desks. Once at the job, most in this sector of Wall Street are chained to their clients, taking them golfing or to restaurants to get to know what makes them tick as investors and people.

Trading desks often attract ultracompetive Type-A multi-taskers who know how to prioritize. The rewards are potentially significant, but you're only as good as your last trade or deal. In the next few years, the rewards may be tempered by a general toning down of risk. Instead of swinging for the fences with huge bets, today’s pros are adding other expertise such as electronic trading, or finding new arbitrage opportunities left by firms exiting the business. Getting into the business during lean years can also provide a grounding that will lead to close sales relationships and long-term success.

GETTING THE JOB

One big question to consider is whether the firm you’re looking to join embraces teamwork or individuality. Some larger firms, such as Goldman Sachs have long championed the primacy of teamwork and accountability, though at other firms, many smaller, individuals are encouraged to take as much business as they can, no matter who it offends or what the overall harmony of the firm might be.

Adaptability is also a plus. Knowing one product -- say subprime mortgages -- doesn’t help you when trading in that product freezes up. Many product specialists are going back to basics, as are traders. The days of free investment lunches are over, and its up to you to find where the best deals are.

Overall, the sales and trading environment is rapidly changing, but opportunities are still available.

Your Business, Your Brand - Starting your own State Farm business offers more than just a paycheck. See the opportunities - State Farm
Sales & Trading Career News
FINS
Up-to-the-minute News for Sales & Trading
TD Ameritrade Founder Steps Down After 35 Years
TD Ameritrade Holding Corp.'s founder, Joe Ricketts, will retire from the board next month after being with the company for more than 35 years.

Meet Rogue UBS Trader Kweku Adoboli
 
MF Global Job Cuts in Europe and Asia
 
Tully to Replace Ross as Interest Rate Chief at CME Group
 
Jefferies Continues Asian Expansion
 
Securities Co-Head Ehinger to Leave Credit Suisse
 
Nasdaq's Anna Ewing: Marrying Tech and Finance
 
UBS Moves More Staff to New York From Conn.
 
Sales & Trading News from The Wall Street Journal

 News from The e-FinancialNews
Featured Section
Everything you need to know about becoming a successful financial advisor, whether you are an experienced advisor or are looking to switch careers.
Sales & Trading Jobs by Location
Sales & Trading Jobs in Denver, CO
 
Sales & Trading Jobs in Fort Lauderdale, FL
 
Sales & Trading Jobs in Poway, CA
 
Sales & Trading Jobs in Chicago, IL
 
Sales & Trading Jobs in Stamford, CT
 
Leading Companies in Sales & Trading
Bank of America Corp.
 
Barclays PLC
 
Citigroup Inc.
 
Deutsche Bank USA
 
JPMorgan Chase & Co.
 
Credit Suisse (USA) Inc.
 
Goldman Sachs Group Inc.
 
Morgan Stanley
 
Finance Jobs by Sector


 
  • Copyright ©2014 Dice Holdings, Inc. All rights reserved.
Log in 
FINS Login
 
*Indicates required field
 
User Name*
Password*
     Forgot Your Password?
Or log in using your Facebook account:
Connect with Facebook