FX sell side employee survey

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What is your role? *

Desk Jockey

On-desk Manager

Goldfish Bowl Occupant

Too late, I've just been let go (if you have just left continue the survey as if it were the day before you were informed)

How old are you? *

20-30

30-40

40-50

over 50

What do you think the average age is in your dealing room? *

25-32

32-39

39-46

0ver 46

How has that average age changed over the past few years?

Going up as number of new hires fall.

Going up as new hires are older

Static

Going down as expansion sees new young recruits

Going down as old guards are exchanged for young blood

Other:

Clear selection

Do you enjoy getting up in the morning to go to work? *

Yes

Neutral

Do you enjoy your job more or less than you did 3 years ago? *

Less

The same

On the scale of city job caché, where do you think your job ranks? *

Very high

High

Middle

Low

Very Low

Don't care

Are you proud when you tell other non-financial people what your job is? *

Yes

Not bothered

Depends who they are

Who do you respect? *

respect

not bothered

no respect

Senior management

Immediate management

Peers

Subordinates

Who cares about the business over themselves? *

Care about the business over themselves

Care about the business and themselves in synergy

Care about themselves over the business

Senior management

Immediate management

Peers

You

Subordinates

Which departments prevent you being as profitable as you think you could be? *

tick any that apply

Credit

Risk

Compliance

I.T. Development

H.R.

None, all fine.

Other:

Required

Do you have as many client entertainment events as you did? *

Same, but higher budget

Same, but lower budget

Fewer

Which part of the world are you working in and where is home for your institution?

I'm working in

My employer's base is

USA

Rest of Americas

Rest of Europe

Asia

Australasia

Africa

Middle East

Clear selection

What do you think are the biggest threats to your job? *

Select as many as applicable

Technology

Credit

Regulation

Falling volumes

Management changes

New non-bank entrants to FX markets

Better calibre alternatives to you

Falling Margins

Other:

Required

Would you recommend a good friend or family member to pursue a career in bank FX? *

Definitely Yes

Mostly Yes

Mostly No

Definitely No

Other:

Do you think you will have a job in FX in five years time? *

Yes, I hope so

Yes, but I'd rather be doing something else

No idea

No, through my own choice

No, through someone else's choice

Other:

Do you think your skill sets are easily transferable to other professions? *

Yes

Some

Do you think that FX employees find it easy to find jobs outside FX? *

Yes

If you were to lose your job tomorrow what do you think the chances are of you finding a very similar role within 6 months are? *

in %

0-10%

10-30%

30-50%

50-70%

70-90%

90-100%

If you fail to get another job within that time have you any good idea of what you could do instead? *

Yes

Some vague ideas but really not sure

Do you feel that you have (or have had) a career or a job (or series of jobs)? *

Career

Always been a series of jobs

Started as a career but is now a series of jobs

If you could work less hours for proportionately less pay would you? *

Yes

Unsure because it may make me more liable to be fired.

Do you think that the FX market is in growth or decline? *

Growth

Static

Decline

Do you think you'll earn more next year than this year or less *

About the same

Less

What do you think of the Euromoney Survey

click as many as apply

High value reliable benchmark for the industry

In the absence of anything else it has to do

An appropriate benchmark for measuring senior management performance

An inappropriate benchmark that inappropriately biases management behaviour

Great if we are at the top and rubbish if we are not

An embarrassing annual exercise in buying/cajoling votes

I'd rather have a 'like' button on every trade or research article!

Other:

If you could take one bank's e-trading platform as your own, whose would it be.

With respect to client contact and advice do you

click as many as apply

Give it as freely as ever

Give it freely but remain mindful of new regulatory scrutiny

Provide less information as there is less circulating to give

Try and avoid giving any advice as the risk/reward to doing so has changed so much

Think clients suffer due to regulatory restrictions on information passage.

Do you think banks will ultimately outsource their sales desks along an agency model to bypass regulatory difficulties?

Yes

Maybe

Clear selection

Would you rather have your job in the institution you are with or another one. *

Happy where I am

A select other few.

Any other one.

I'd rather not have this job anywhere but the pay is too good for me to risk leaving

Other:

A select few others? Like who?

can be more than one

Where would you rather be - Buy side or sell side?

Buy Side

Either

Sell side

Clear selection

Would you rather be employed in a different asset class?

No, I m happy in FX

Fixed Income

Money Market

Equities

Credit

Do you think risk taking is fundamental to making money as an FX house

Yes, taking risk monitises information

Yes, it means clients get a better service

No, many brokers make money without taking risk.

Humans taking risk is not necessary but we need the computers that do it.

Other:

How has the level of risk your desk or institution is taking changed over the past few years

Risen as risk limits increased

Risen as faith in positions rising

Risen for other reasons

Fallen due to regulatory pressures

Fallen due to lack of trade conviction

Fallen due to general bank pullback from risk taking

Other:

Would a fall in risk positions be a good thing?

Generally yes

I can't generalise as it is far too dependent on other factors

Generally no

Clear selection

Do you think that society feels that humans taking risk is less acceptable than computers taking risk?

Yes

Both the same

Clear selection

Do you think the figures quoted in BIS reports for FX market turnover truly reflect end-user demand?

No they under measure as there is plenty of FX going on in the the grey markets.

Yes, they must be right.

No they over measure enormously due to algorithms 'passing the buck'.

No, they over measure a bit.

Other:

Do you think that wholesale FX should go commission based like equities?

Yes, as transparency of pricing increases it will have to

Yes, but for other reasons

No, we can keep making money even if the client knows where we covered the trade

On fixes only where we somehow promise mid

Other:

Clear selection

After the WMR fix fixing, Do you think the industry is now squeaky clean?

Squeaky clean

Pretty much

Not totally clean but much better than many other financial markets.

I think there are some practices still going on that cross the line of acceptability

Really dodgy

Clear selection

Will wholesale FX end up exchange traded only?

Yes, heading that way fast

Yes, but not for at least 15 years

Don't know or care

Clear selection

How do you see the FX market evolving over the next 5 years?

What question(s) would you like added to this survey (will update as suggestions come in)

Any other points to make about the FX markets?

Optional - Do this test and enter your resulting four letter personality type. http://16personalities.com/free-personality-test

Spookily good - let's see if there is a trend in FX type.

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