Should I be keeping up with the stock market to be in banking sales?

Prepwise AnswersCategory: Finance CareersShould I be keeping up with the stock market to be in banking sales?
Career Dev Staff Staff asked 7 years ago
1 Answers
Career Dev Staff Staff answered 7 years ago

The short answer is, yes. Here is a typical scenario in this field.

“As a salesperson you sit between the traders and the clients,” she says. “My clients are fund managers – people who invest money on behalf of pension funds, hedge funds, insurers etc. The client calls because he wants to buy or sell a particular financial product – a bond, an option. So I go to the appropriate trader who’ll give me a ‘quote’, saying the price for A is six. I go back to the client who will go: ‘Six? Oh no, that’s way too much (if he’s buying) or way too low (if he’s selling). Come on, do something better.’ So I go back and forth between them. People think the world of finance is about competition and sure there is that. But most of all it’s about co-operation.”

“Working in financial markets is very different from mergers and acquisitions and other forms of financial deal-making. We don’t do projects. Every day you start from scratch, essentially, when the markets open, and it’s over when they close. Every day is different, but in another way every day is the same.”

Some of the main tasks are analyzing news and stocks, and pitching any new opportunities to traders therefore you must know the stock market.