If you want an aggressive bonus, join a brokerage house

July 07, 2011  |   Posted by : Nader Bawany  |   In the Press,News   |   Comments Off on If you want an aggressive bonus, join a brokerage house»

 Given the low levels of activity in the equities market this year, top tier investment banks aren’t increasing headcount in equity sales and trading – if anything they’re reducing it.

This doesn’t mean, however, that there are no opportunities on offer in the market. While the big banks may not be hiring, the smaller European brokerage houses like Sylvia Quandt & Cie are, and are very determined about it.

In most cases they want salespeople and sales traders who can bring and build their own client relationships. The bar is set high: brokerage roles can be challenging and staff turnover is often high.

However, if you work in equities in the current market, there are definite advantages of joining one of the European brokerages. Most significantly, brokerages pay transparently in relation to revenues. While big banks have switched to a model of higher salaries and lower discretionary bonuses, brokerages will pay a lower base salary accompanied by an aggressive bonus structure which increases in direct proportion to revenues.

The ideal brokerage candidate is an equities salesperson or sales trader from a large bank who is indispensable to his or her clients and whose clients will move when he or she changes jobs. Such people are hard to find. But if you’re one of them, moving can be very worth your while.

This  article was published on efinancialcareers.co.uk 


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