The execution trading trap

Hi,
can only agree to what KC1978 said, same here, working in a top tier bank within the Private bank as an execution trader.... pretty much the dullest thing somebody can do. It is true the PM who places the order has absolute no idea about the market but that is not an argument for value added, they are just not really smart people. The daily job pretty much involves a ton of Backoffice work while the more interesting part of following market or talking to clients is negligible. Usually every bank will have their sales team that informs clients about what is happening. If you are lucky you have you own book, but in many cases execution trader don't even have that, meaning they are a mere booking center and the value added consist in finding a buyer or seller, which in times of BBG isn't that complicated.
Soon or later this job will get obsolete and a computer can do all the work.... It is nice for about a year and you get what happens in the market but after that it get dull and boring thats why I would recommend everybody to avoid or search for something else (which I am doing).

Been working at an execution desk for Asset Management in a top tier swiss bank - Bonds and Convertibles. Most boring thing ever after a while - really "uninspiring" daily routine. Biggest problem for me personally: to be compared with a lot of the above mentioned dimwits on a daily basis. Boy you have no idea what is walking around in a top tier (haha) bank. E.g. there was a collegue for whom it wasn't obvious that a bond that pays coupon in kind (PIK) - a lovely close to broke southamerican issue of course - must have a denomination of .1 or even smaller due to the nature of the bond. But since he executed a cleint order in that issue and operations was not capable either the came back to him saying his 35'698 -ish nominal size is not tradeable and they can't settle the trade since denomination is min 50'000 everyday life in a top tier institution. Fluctuation is high - especially in ops - so those who know what they are doing and have some sort of normal standards (not to mention those with higher ones) do leave in an instant after realizing. My 5cents: the bigger the employer the more specialised the execution role - the more dimwit routine you'll be facing. If it's a role that covers execution in several product categories you're good.

i have lost count of how many execution traders i have met. the job is a dead duck , if you're looking to get into the role now i wouldn't bother.

a very poor and uninformed article.
effectively the trader is on risk the minute he receives the order from the pm - he can add or destroy alpha purely from his decisions on how he works the order depending on his knowledge of the stock, the market, likely newsflow, etc. machines will never replace this - just look at the poor performances of algos in risk arb stocks!
hf traders in multi-strats usually have to be expert in several asset classes: equities, options, futures, cbs, cds, etc even stock loan....plus receiving 3000+ bloomie messages and colour calls a day means they need to disseminate exactly what is useful to their analysts, pms as well as their own orders.
most guys will also have their own discretionary book too.
sales traders vary widely, but the smartest add a lot of value especially when news breaks.
yes i am biased but if all the above categorizes one as a 'dimwit' then i am happy to be classified as one! just my view but those comp numbers well out too

There are a number of ways but probably the one which is best (for anyone) is to ask salespeople. They talk to the execution brokers and they know the client (or at least, they should know their client) and how the company operates. The should be able to judge which company is looking for people and which is good to work for (both structure, colleague and probably pay-wise). These people are also in the right place to launch you (or differently put: Sell you) to their client. However in such a case they are putting their own reputation on the line for you. Hope this helps