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Fixed Income Interview Prep

Editor

Tobias Wren

Editor, Fixed Income Interview Prep

Tobias Wren writes about fixed income sales and trading: what each desk on the floor trades, how its interview is actually structured, and what a junior does once the offer arrives. Undergraduate finance courses rarely go past a bond's coupon and the CAPM, so almost everyone preparing for one of these desks is starting the technical material from the interview process itself, not from a class that already covered it.

The desks are unevenly documented. Rates and credit get written about often; repo, securitized products and CLOs barely get a page anywhere free. Every guide here starts from primary numbers, the Treasury, the Federal Reserve, SIFMA, the BIS, the ECB, and each bank's own earnings releases, and every worked calculation is redone independently before it is allowed to stand next to the method that produced it. Where none of that settles a question, the guide says so rather than filling the gap with a plausible number.

Areas covered

  • The desks: rates, repo, credit, high yield, distressed, CLOs, securitized, EM credit
  • The interview: bond math, technical questions, the superday
  • Breaking in: internships, applications, the recruiting calendar by region
  • Pay and career: compensation by desk and level, exits, a day on the floor

“Tobias Wren” is the editorial pen name this publication writes under; Fixed Income Interview Prep is operated by the company named in our Impressum. How the work is sourced and checked is set out on the editorial standards page. Reach the desk at info@fixedincomeinterview.com.

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Guides on every desk, from the interview to the offer.

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