Turn on thread page Beta

Got offer from JP –*can I change? watch

Announcements
    • Thread Starter
    Offline

    0
    ReputationRep:
    Hey everyone,

    Got an offer for sales for JP Morgan Summer internship. I do however want to get into trading later on... it just happened the desk that invited me for interview was sales and I have nothing else so will take it. If I get a full-time offer for the same position (sales) would it be possible to try to change that to trading without going through application procedure? Maybe even on the same desk?

    How much do salespeople make in relation to traders ? do traders make a lot more money (including bonus)?

    Also, anyone have more info on intern poaching events?
    Thanks
    sandy
    • Thread Starter
    Offline

    0
    ReputationRep:
    I would also very much consider research.

    The idea is that I would like to move on to asset management eventually at somewhere like blackrock or go to a place like pimco.
    Offline

    0
    ReputationRep:
    It is definetely possible to do an internship in Sales and then move to Trading (with the same bank or competing banks) but if you prefer trading and you consider that you will be better in trading it is always better to do the internship in the field of your choice.

    There are several ways to make this happen. For example, say that you have an offer from X bank (or that you are in final rounds with X and Y) for trading but you prefer JPM. Ask then if it could be possible to meet one of the trading desks and when you meet them show your passion for trading and have your offer converted. No need to lie if you get interview invitations soon...

    A less aggresive option is to ask if you could do a rotation in a trading desk because you want to experience both sides.

    Good luck!
    Offline

    15
    ReputationRep:
    dude, you'll be sitting inches away from a trading desk all summer. lots of people move about.
    Offline

    0
    ReputationRep:
    (Original post by slashstraw)
    Hey everyone,

    Got an offer for sales for JP Morgan Summer internship. I do however want to get into trading later on... it just happened the desk that invited me for interview was sales and I have nothing else so will take it. If I get a full-time offer for the same position (sales) would it be possible to try to change that to trading without going through application procedure? Maybe even on the same desk?

    How much do salespeople make in relation to traders ? do traders make a lot more money (including bonus)?

    Also, anyone have more info on intern poaching events?
    Thanks
    sandy
    the fact that your only concern is which role makes more money leads me to believe you know little about either.
    Offline

    15
    ReputationRep:
    There's plenty of rotation within Sales and Trading. I'd say you might be slightly harder pushed to find a desk in ER since they tend to have lower headcounts, but moving from Sales -> Trading and vice versa should be possible. Try Sales for a couple of weeks and if it's not where you want to be, just speak to HR, they'd be likely to accommodate you. Don't do anything before your internship has started though, it will make you look flakey and indecisive about your career; if you haven't tried Sales, then your desire to change divisions might seem a little random.
    Offline

    12
    ReputationRep:
    The JPM application process works by circulating the CVs/assessment of all 1st round candidates to every desk you expressed an interest in. If only Sales called you back, it means no Trading or Research desks were interested in you.

    That said, JPM do mini-rotations to other desks for best fit purposes, so it would be wise for you to ask to try out trading in a couple of them.
    Offline

    0
    ReputationRep:
    @ OP You don't sound like you have much understanding of sales or trading floor itself. May want to keep those questions later until you have done the internship=P
    • Thread Starter
    Offline

    0
    ReputationRep:
    (Original post by Neocortex)
    @ OP You don't sound like you have much understanding of sales or trading floor itself. May want to keep those questions later until you have done the internship=P
    No idea what you mean by that... care to enlighten me a bit?
    thanks
    Offline

    0
    ReputationRep:
    lets just say the best sales people are also best traders and trading in IB isn't mostly prop trading if that is what you are after. Once you have done the internship you have better idea what you want to do... About pay questions..if you work hard and perform well rewards will come naturally, so instead of concentrating on pay....
    • Thread Starter
    Offline

    0
    ReputationRep:
    (Original post by Neocortex)
    lets just say the best sales people are also best traders
    I dont; work in a bank, but I do know that makes zero sense.
    Offline

    12
    ReputationRep:
    (Original post by Neocortex)
    lets just say the best sales people are also best traders and trading in IB isn't mostly prop trading if that is what you are after. Once you have done the internship you have better idea what you want to do... About pay questions..if you work hard and perform well rewards will come naturally, so instead of concentrating on pay....
    What on earth are you chatting about? Pipe down.
    Offline

    14
    ReputationRep:
    Could have been phrased better, but I see where Neocortex is coming from.
    Offline

    15
    ReputationRep:
    (Original post by uthinkilltellu)
    Could have been phrased better, but I see where Neocortex is coming from.
    Your signatures just keep on getting better :p:.
    Offline

    0
    ReputationRep:
    (Original post by uthinkilltellu)
    Could have been phrased better, but I see where Neocortex is coming from.
    Well I thought people would understand my indirect meaning or researched meaning behind it, never mind.

    What I meant was in between salespeople and traders exists a hybrid: the sales-trader. Like salespeople, sales-traders call clients to recommend securities. Like traders, they trade the securities once a sale has been made.

    Regarding research, Particularly in larger investment firms - also employ research-sales professionals, whose job is to sell their employer's research expertise. While investment sales professionals and sales-traders will use the bottom line results of a research report to pitch actual investments, research salespeople must be intimately familiar with the details of the analysis to be successful.

    Hope that clears your confusions.
    Offline

    12
    ReputationRep:
    (Original post by Neocortex)
    Well I thought people would understand my indirect meaning or researched meaning behind it, never mind.

    What I meant was in between salespeople and traders exists a hybrid: the sales-trader. Like salespeople, sales-traders call clients to recommend securities. Like traders, they trade the securities once a sale has been made.

    Regarding research, Particularly in larger investment firms - also employ research-sales professionals, whose job is to sell their employer's research expertise. While investment sales professionals and sales-traders will use the bottom line results of a research report to pitch actual investments, research salespeople must be intimately familiar with the details of the analysis to be successful.

    Hope that clears your confusions.
    Ok, I get what you were trying to say now.

    I agree that sales-trading might be something the OP should investigate before setting his heart on trading. (but sales-traders don't trade)

    Specialist sales is an odd role, in that you tend not to pick up the technical expertise you would in research, but do become an expert in your sector. It sounds like the OP is after a more quantitative role, and I don't think spec sales would satisfy that.
    Offline

    0
    ReputationRep:
    (Original post by PorcineAviation)
    Ok, I get what you were trying to say now.

    I agree that sales-trading might be something the OP should investigate before setting his heart on trading. (but sales-traders don't trade)

    Specialist sales is an odd role, in that you tend not to pick up the technical expertise you would in research, but do become an expert in your sector. It sounds like the OP is after a more quantitative role, and I don't think spec sales would satisfy that.
    depends what your interpretation is I agree that they aren't most quant type of roles but then again theres no other way for OP to really find out until he has experienced the trading floor.
 
 
 
Reply
Submit reply
Turn on thread page Beta
TSR Support Team

We have a brilliant team of more than 60 Support Team members looking after discussions on The Student Room, helping to make it a fun, safe and useful place to hang out.

Updated: January 21, 2010
Poll
Cats or dogs?
Useful resources

Articles:

Guide to investment bankingGuide to consultancy

Featured recruiter profiles:

Deutsche Bank logo

Deutsche Bank is recruiting

"Thrive in an international banking environment"

Quick link:

Unanswered investment banking and consultancy threads

Groups associated with this forum:

View associated groups

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Write a reply...
Reply
Hide
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.