Product Control

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What are exit opps?
Specifically, if you work for 2-3 years as product controller at fixed income desk.
Can it lead to trading in future?
How valuable is the experience for someone just out of college with 1 yr work exp.?
And is it a good selling point on CV when you search for job after MBA or MS Fin, specifically a trader’s job?
And generally, where do people from product control settle in long term?
Anyone in product control here….?
Thanks in advance!
 
I would keep it max at 2 years. Product Control is like digging a hole. The longer you dig, the harder and harder it is to get out. If you go 4+ years in product control fixed income, you’re done. Forget moving to front office UNLESS you get into a top tier full-time MBA program.
Nearly every new analyst going into product control has the EXACT SAME MINDSET: “I’m going to put in some time, and move the FO” Chances of internal transfer is probably 1%.
Don’t get me wrong, you can settle in BO, gradually move up in rank (not hard) and you’ll have a decent living and career, but you’ll never be a big shot, and never make the big bucks.
 
I thought about this route too, and haven’t met anyone to leverage PC into a FO role. PC is straight up accounting (mainly). And, a lot of that knowledge just isn’t transferable to a FO position. Maybe PC –> Risk –> ???
You can maybe get exposure to traders if you’re doing PC at a small firm, but good luck sweet talking a trader into giving you a shot (if they can even make a hiring call like that).
I also don’t understand the point of PC positions that “create flash p/l.” With all the advanced software out there…why let a human calculate traders p/l? Unless the security is difficult to price, but even then…
 
Thanks guys, won’t be going into product control, I thought product control might be good to move into trading :)!
 
Actually the job I’ve got (and joining it) supports product controllers and traders. I don’t know it’s BO or MO or if any bank does it internally.
Job is basically about providing valuations & risk management support in exotics and hybrids to product controllers and traders at big banks, so there are some proprietary valuation models and some kind of risk management framework which will be used to provide inputs to product controllers and traders. Although it doesn’t require model building, but there is some learning curve to it, because it is part of responsibilities to know thoroughly about how all that exotic stuff is priced, and how those models made by some really smart people work, and how this whole trading product control and risk management works.
Right now I’ll be starting off with CDS and fixed income exotics and hybrids, but I can move to other asset classes, that’s no issue. I was thinking about going into product control after 1 year but looks like PC isn’t a good line either. There’s internal shift into structuring support work that can be done after 1 year. For now it just looks like good enough opportunity to learn and enter into derivatives so I’ve decided to join it, moreover there’s a pretty good chance of moving to London/NY after few months.. haha!
 
Also note, that Product Control > Operations
Operations is the back office of back office. At the very least, PC gets you to talk with the desk and see how the trading is working. Ops checks cash payments and paper work is filed and mailed right (totally dead end job)
 
^ I’m just focusing on learning stuff before MBA, I know I’m not going to break out of this BO sh!t ever without MBA. I’m in India, everything is a BO or BO of BO here, so MBA is necessity actually.. haha!
 
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