Why Sales & Trading?

Authentic reasons that land: (1) You love markets — you follow them daily, have traded (even a small personal account or a simulation), and find macro/asset prices genuinely interesting. (2) Fast feedback loops — you're energized by real-time decisions and a daily P&L scorecard, versus a deal that takes six months to close. (3) Quantitative + quick thinking — you like fast mental math, probabilistic thinking, and staying calm under pressure. Specificity is everything: name a market view or a trade idea, not just 'I like the markets.'

Interviewers want to see you're not using S&T as an IB backup. IB advises on deals (M&A, financing) over months and is relationship/process-driven; S&T operates in real time, where the product is liquidity and risk. Hours differ (S&T is market-hours intense but generally not the all-nighter modeling grind of IB). Skills differ: IB rewards modeling and stamina; S&T rewards quick decisions, market intuition, and risk management. Show you understand and prefer the S&T rhythm.

Be clear which you're drawn to. Sales is client-facing: building relationships, pitching trade ideas, providing market color, and connecting clients to liquidity — best if you're personable and a strong communicator. Trading is risk-taking and pricing: making markets, managing a book, and managing risk — best if you're quantitative, decisive, and comfortable with being wrong fast. There's also structuring (designing tailored products). Knowing the distinction signals genuine research.

Nothing proves 'Why S&T?' like demonstrating you actually follow markets. Have a current market view ready ('I think rates are X because Y'), know what major indices/yields/the dollar did recently, and ideally have a simple trade idea with a rationale and a risk. You'll often get 'What's a trade you'd put on right now?' or 'Where do you think [asset] goes?' — this is where stated passion gets verified.

S&T spans equities, rates, FX, credit, commodities, and derivatives. If you're drawn to a specific asset class, say why — 'I'm most interested in rates because macro policy drives them and I find that interplay fascinating.' Connecting your interest to a specific product and the bank's strengths shows you've thought about fit, not just 'markets in general.'