NYCAnalyst
How can this be random? The personality and skill set of a salesperson is far different than that of a trader.
I would believe that anybody in one of these programs knows where the end goal is ("I want to be a salesperson" / "I want to be a trader"), rather than someone who wants to be a salesperson ending up in trading and vice versa.
You accept a job. You may want to be a trader, but you accept at a firm having expressed your desires.
Then you get the list of summer desks - guess what? Twice as many Sales jobs as trading. No worries - but then, do you really want to trade equities, or did you always say Fixed Income was your bag? Is it worth bidding for the Commodities trading desk when you have no relationships with the desk? The guy you have really strong ties with has a Sales job on his desk, so you might take that as it is a fast track to an offer.
Then you do the summer, and maybe you get an offer on a rotational program (as above) or as a generalist. Maybe you get a global offer for a desk, but they say they don't know what their requirements are in a year.
Who knows - maybe the bank gets bought out, all the people you have relationships with leave, and you are left up **** without a paddle.
All these things can happen. You meet MD Sales guys who were trading a year ago and switched, and vice versa. Not always the case, but certainly from some.
Doing an MBA and a rotational program simply serves to get your foot in the door. I am sure way more people fancy themselves as traders that sales. But they also know saying you want to trade slams shut doors in a game you can ill afford to do that. That you do not make any of the decisions really in this game, save committing to a firm at some point in time.
The best I can say is wait till you are there - it is the same between people wanting to do IBD FIG and ending up in Retail. Things happen that you can't control, and any MBA doesn't mean your wishes become a significant concern to the firm - you take any job for the job you can get after that.
Recruitment is hugely relationship based, so sometimes decisions that don't immediately seem not directly what you want you have to choose an organization, and the people, and then hope that you can move that to the job you want, the need they have. You can only do one summer internship, and until this year when classes were to small, FT only S&T recruiting was not normal, so you just have to place your bets and hope. One thing that is certain is you need to get an offer from your summer if you want to play it off other firms, as failing a ten week interview is pretty tricky to get round. With the odds, a lot of people side with the relationships of people they get on with, who will look after them, and then - over time - they will get to where they want their career to go.
All of the above S&T points happened in the year I was there. No class recruited more than 50% of the summer interns. Typically setting out a stall of your wants doesn't work well, and being flexible comes across as less cocky and difficult. You really have to balance the two, and enjoy a bit of luck. But the best policy I have seen is to take desks you want, and work from there to try and do the job you want. As an Associate you aren't building up much more than product knowledge the first years, so switching is possible and *when* you have a job, you can start to express what you want.
All that is why I say it can be pretty random.
Oh, and I don't recommend saying the personality and skillsets are different - there are a lot of overlaps, but different hierarchies of the qualities. That said, telling someone who has traded for ten years why you should be a trader, and they think your resume screams "sales" or that the qualities required of the job are similar... it has its risks. The only guy I know who had a solid base for saying he wanted to trade was a former floor trader, a lot of the others got laughed out of town.
I suppose I should finish with my own exact experience - if you know that an offer letter is sat on a printer, and all you have to do is answer the questions right, you have to make decisions. The heads of Sales & Trading are both in front of me, and say they want to make me an offer but cannot commit to which country it would be in, sub-desk of the whole (global) business line (which covered structured items, spot, swaps, options, quant research) or whether it would be sales or trading.
I always felt I would be more suited to trading. I did not chose that time to mention it, and told them I was happy to work in a role where there was a requirement for me to be involved and busy, rather than bored on a desk I felt most drawn to, and that I found the detail in each desk interesting as I learned more. They signed the paper and handed it to me. The story to this ends somewhat differently, as I never learned what the role would be as a consequence of TARP. My friend who was on the exotic options desk all summer and had an offer from them has found his role change immeasurably from what he felt he had signed up for.