I’m a noob and met someone fresh into their career yesterday that told me that they work at a smaller bond shop ~$20B AUM and run the arb desk. How does a 22/23/24 year old already “run a desk.” Are they a child prodigies and already been in that job for 20 years?
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Small shops will sometimes only have 1 person look over a particular book or strategy, so this is probably what they mean. Definitely a stretch to say they "run" the desk. The people who actually run / head the desks usually trade less than the traders working under them and spend much more time in meetings with risk / bizdev / ops / quants / tech etc.
My firm is sales leading...meaning the sales guys have all the real power. I "update my options excel model everyday" and give them a price, they add on margin my book makes money I execute the trade with my broker. Next day, new sales guy same thing. End of the day I run the P&L.
I run the desk. For some reason at "bonus time" I get 1/3 of my expected bonus...wtf I run the desk...Sales guy though seems to be looking at a new sports car...Strange.
hahahah
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