AM offer vs. IB opportunity?
I posted this in the AM forum, but thought I should get some opinions from the IB forum as well.
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I'm a rising junior at a top 25 university, but non-target. I'm currently interning with the AM group of a bulge bracket investment bank and recently received a return offer. I've absolutely loved my summer, my team, and everything that I have learned. However, I have always planned on doing investment banking right after undergrad, so I was planning on going through recruiting in the fall. Am I stupid for passing up on the AM offer? I love the buy side, don't get me wrong - I can really see myself in AM in the future. But I think I would regret not pursuing IB out of college.
If you can really see yourself in AM in the future, and love your team, and are in a BB...why do IB again? Is it just for the street cred? The bonuses? To get a shot at PE/HF?
If I was in your shoes, I'd at least talk to some alum in IB and ask for their candid opinions on their work and teams, then compare that to what you're getting offered in AM.
This question all depends on your future goals. If you want PE long-term then you should probably pursue IB. If you think AM is a long-term career then take the offer. IB probably has a better variety of exit opps but there is nothing that teaches you better how to manage money than actually being in money management, to that end I do not think IB will set you up better for a HF than AM.
stick to managing them assets boi
Most people who go the IB route eventually want to make the jump to PE or the buy side in general. You're already there. Like others have said, if that's your long-term goal, why would you even consider going backwards?
I would stay with AM, especially given that you really like your team
You won't regret going AM. When your banker friends are crushing pitchbooks at 10PM and you are crushing sake at Nobu with an investor you'll know you did it right. You will have to get a CFA which could suck if you don't like tests though.
At the end of the day, you're only a rising junior. It's hard to truly argue that you shouldn't give yourself a chance to explore other options given that your career is still very much in its infancy. Your interests are subject to change and that change will be better-founded if you have legitimate experiences as a foundation upon which you act.
In that spirit, I'd accept the AM offer and then begin to network with alumni/network contacts in IBD. The key here is to not be overly aggressive in your ultimate desire to immediately hop over to IBD. Moreover, you should express an increasing interest in the field for "XYZ" reasons that maybe AM does not offer you and were hoping that they could shed more light on the work they do. As you begin to cultivate these relationships, the interviews will begin to present themselves especially since you now have a BB AM internship to stand on at a top 25 school (which I assume has some sort of BB OCR presence).
Hope this helps. Good luck.
Hard disagree with this. Not that there's anything inherently wrong with it, but I just don't think it makes sense. Either take the AM and go all in on it for at least a while, or try for IBD. Accepting the AM offer and instantly going to IBD guys saying it doesn't fulfill XYZ desires doesn't seem like a great idea.
As you said, "it's hard to truly argue that you shouldn't give yourself a chance to explore other options." AM seems like the safest pick to me, but if IBD is something you want, declining the first return offer you get isn't going to ruin your career by any stretch.
If your team is that great, they'll understand that you're not even a junior yet and not pressure you to decide instantly. Ask for some time to decide, then talk to people in IBD and see if it's something you'd give up the offer for.
No, you aren't stupid.
The biggest criteria should be your own experiences. I can tell you from personal experience that working 80 hrs a week with a team you love and work you like can be one of the best times of your life. I can also tell you from experience that working even 50 or 60 hours doing pointless work with a team you despise can ruin your health and happiness.
You loved it, it pays well, and you seem to have enjoyed your team. Take the offer.
If you ever get bored with and want to move into IB it should be easy to do that post MBA. You will already have the "prestige" credentials of a BB name combined with a resume that proves you know how to do financial analysis.
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