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&lt;p&gt;Here&#39;s a look at a day in the life of a sales-trader, given to us by an associate in the Equities division at Lehman Brothers.&lt;/p&gt;&lt;p&gt;&lt;strong&gt;6:30 AM:&#160;&lt;/strong&gt;Get into work. Check voice mail and e-mail. Chat with some people at your desk about the headlines in the Journal.&lt;/p&gt;&lt;p&gt;&lt;strong&gt;7:15 AM:&#160;&lt;/strong&gt;Equities morning call. You find out what&#39;s up to sell. (&quot;I&#39;m sort of a liaison between the accounts [clients] and the block traders. What I do is help traders execute their trading strategies, give them market color. If they want something I try to find the other side of the trade. Or if I have stuff available, I get info out, without exposing what we have.&quot;)&lt;/p&gt;&lt;p&gt;&lt;strong&gt;9:30 AM:&#160;&lt;/strong&gt;Markets open. You hit the phones. (&quot;You want to make outgoing calls, you don&#39;t really want people to call you. I&#39;m calling my clients, telling them what research is relevant to them, and what merchandise I have, if there&#39;s any news on any of their positions.&quot;)&lt;/p&gt;&lt;p&gt;&lt;strong&gt;10:00 AM:&#160;&lt;/strong&gt;More calls. (&quot;I usually have about 35 different clients. It&#39;s always listed equities, but it&#39;s a huge range of equities. The client can be a buyer or seller - there&#39;s one sales-trader representing a buyer, another representing the seller.&quot;)&lt;/p&gt;&lt;p&gt;&lt;strong&gt;10:30 AM:&#160;&lt;/strong&gt;On the phone with another Lehman trader, trying to satisfy a client. (&quot;If they have questions in another product, I&#39;ll try to help them out.&quot;)&lt;/p&gt;&lt;p&gt;&lt;strong&gt;11:00 AM:&#160;&lt;/strong&gt;Calling another client. (&quot;It&#39;s a trader at the other end, receiving discussions from portfolio manager; their discretion varies from client to client.&quot;)&lt;/p&gt;&lt;p&gt;&lt;strong&gt;12:00 PM:&#160;&lt;/strong&gt;You hear a call for the sale for a stock that several of your clients are keen on acquiring. (&quot;It&#39;s usually a block trader, although sometimes it&#39;s another sales-trader. The announcement comes &#39;over the top,&#39; - over the speaker. It also comes on my computer.&quot;)&lt;/p&gt;&lt;p&gt;&lt;strong&gt;12:30 PM:&#160;&lt;/strong&gt;Food from the deli comes in. (You can&#39;t go to the bathroom sometimes, say you&#39;re working 10 orders, you want to see every stock. We don&#39;t leave to get our lunch, we order lunch in.&quot;)&lt;/p&gt;&lt;p&gt;&lt;strong&gt;1:00 PM:&#160;&lt;/strong&gt;Watching your terminal (&quot;There&#39;s a lot of action. If there&#39;s 200,000 shares trade in your name [a stock that a client has a position in or wants] and it&#39;s not you, you want to go back to your client and say who it was.)&lt;/p&gt;&lt;p&gt;&lt;strong&gt;2:00 PM:&#160;&lt;/strong&gt;Taking a call from a client. (&quot;You can&#39;t miss a beat, you are literally in your seat all day.&quot;)&lt;/p&gt;&lt;p&gt;&lt;strong&gt;2:05 PM:&#160;&lt;/strong&gt;You tell the client that you have some stock he had indicated interest in previously, but you don&#39;t let him know how much you can unload. (&quot;It&#39;s a lot of how to get a trade done without disclosing anything that&#39;s going to hurt the account. If you have to one stock is up you don&#39;t want the whole Street to know, or it&#39;ll drive down the price.&quot;)&lt;/p&gt;&lt;p&gt;&lt;strong&gt;4:30 PM:&#160;&lt;/strong&gt;Head home to rest a bit before going out. (&quot;I leave at 4:30 or sometimes 5:00. It depends.&quot;)&lt;/p&gt;&lt;p&gt;&lt;strong&gt;7:00 PM:&#160;&lt;/strong&gt;Meet a buy-side trader, one of your clients, at a bar. (&quot;We entertain a lot of buy-side traders - dinner, we go to baseball games, we go to bars. Maybe this happens once or twice a week.&quot;)&lt;/p&gt;

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