Can someone explain the typical duties of an inter-dealer broker? I came upon an opportunity to interview for an institutional broker role, but, as I’ve been concentrating on prepping for ER and IB interviews, I don’t know much about this job. From what I’ve read, I’d be acting as a middle-man in gigantic trades of derivatives, currencies, CDS’s, etc. But what’s the job like? Don’t think I want to be like Bud Fox or Boiler Room. Is it worth it? Can I survive as a junior institutional broker in NYC?
it is nothing like an er or ib job. what shop are you interviewing for? is it in NYC? what products will you be covering?
Yup, I know it’s nothing like ER or IB, that’s why I’m asking about it. I don’t know anything about brokerage, but I got an interview and I’ll take what I can get in this market. It’s with GFI Group in NYC… covering fixed income, derivatives, currencies, energy, etc.
i used to work their. good shop… is this an entry level position? do you have accounts to cover? you will on an otc desk. usually you will be in either FI, currency, energy, etc. no way you can cover all those sectors. it is a good place to gain experience.