haven't made any detailed post, i could do that but the general highlights are
macro trading:found it to require too much thinking (i.e considering how markets will react to everything). for instance i was on EM FX forwards desk, and had to continiously consider how supply/demand of currency would change dependent on political influence/ fluctations in commodity prices/ interest rates expectation (which were backed out from models i had to build)/ volume traded etc.. and i felt whilst it was interesting, i don't think i could continiously do and enjoy it.
also the amounts we were dealing with was kind of stressful, as bonuses etc.. depended on pnl, and i've seen people on my desk lose hundreds of thousands on trades, and i don't think i could handle the mental stress of having overnight positions (especially in the markets i was operating in), i.e when turkey had those political issues the markets were stupidly volatile, and expectations were so unclear, but we had to hold inventory (be long) because we expected alot of people to short the lira, but also had to have on hedges and manage our greeks accordingly (espically rho and theta on the futures).
that being said, it was very adrenaline pumping and exciting being in the atmosphere on the trading floor, and the culture of the firm i was at was absolutely brilliant. some funny ongoings and cool traditions which brings the trading floor together (much more exciting than equities
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ibd m&a (product): this was a lot more of a relaxed laid back atmosphere overall. the m&a floors for the most part is generally quieter and we work on corporate deals (long term projects). i found that i actually added value here (maybe because you can't actually initiate trade until you've graduated and passed your FCA exams). i worked on quite a few deals... both sell side/ buy side & was involved in a few due-dilligence tasks and valuation metrics. i enjoyed the feeling of getting to understand what drives the companies who we advise (our clients), and understand a bit more about the technical aspects.
the work is also alot more varied and everyday is different in terms of what we do. one day i could be working on a pitch book, the next on valuation, the next answering client queries and performing ad-hoc tasks i.e we had a private equity client in the 2nd round bidding process looking to buyout (leveraged) a european metals packaging firm. as an associate was busy they got me in on a conference regarding the deal aspects and i was listening in on discussions on how to improve the firms operating capacities and how to broaden the potential consumer base (which i learnt quite a lot from). anyhow, the client was sent a 800 page vendor due diligence package detailing the metals packaging firms customers (but the customers names were all blocked out), and the client asked me to source the 20 biggest customers such that we can assess the growth potential, which i helped model. tasks like that required attention to detail, and i saw it as almost a game or puzzle which was very interesting to solve as i had to use company figures to source out the customers and real life events/product base etc..
i think the collegiate atmosphere in m&a is also quite pleasent as there's a lot more group work as opposed to staring at 12 screens buy yourself trying to improve your pnl. and also the longer term nature of the work actually helps you develop relationships, real knowledge of a business, attention to detail.. and because of the long hours, you're incentivised to become a lot more of an efficient and diligent worker.
also we get free dinner and cabs home which is nice