Higher responsibility vs. Higher salary
Just curious here. This is going to be my first job. I have two offers. My interest lies in investment management but I don't mind working in an IB.
How would a b-school view lower salary buy-side job with higher responsibility vs. higher salary sell-side job with a lower responsibility?
Buy-side job (HF): Working directly under a portfolio manager who has worked for many years with the best investor in my country. There would be in total only 2 Investment analyst, no associate or Assistant PM. Firm just started out so pay is relatively lower but AUM is relatively large (top 25 in the nation). Salary in line with industry average. 9 am to 6 pm job, weekends off!
Sell-side boutique full-service IB (top 25 in the nation by cumulative deal volume): Make pitch books (mostly), assist in investment idea generation for the fund management department when required, assist seniors wherever needed. Salary 30% higher than buy-side. Salary relatively (20%) lower than industry average. Surprisingly 9 am to 7 pm job, Weekends off!
I want to work in HF over the longer term which makes buy-side job offer more logical to go for but I also heard that it is also easier to transition from IB to HF later on. I am tilting towards the HF job but lower salary worries me as it might dent my MBA application. Am I thinking it right?
Forgot to add responsibilities for HF. It includes idea generation & pitching it to PM, meeting HNIs & management whenever required, listening to sell-side investment idea pitches.
resume bullets are all about your shining points, you can't just list your job description there, right? if your role is locked up to have few growth opportunities or extra responsibilities, it would be troubling.
If I am understanding you right, you meant that achievement in the job + future career progression, is also important.
In case of HF, career growth would be perhaps moving laterally into higher AUM firm/ working with well-known PM/taking higher title & responsibility as the current firm is very small. Also, ability to
In case of IB, career growth could be gaining more responsibility like working on more compliance issues (told to be my additional responsibility later on). I can also move laterally to better firms. But I have a 12-month lock-in in this job and I am not sure how should I look at it. Also, I can move onto PE but PE would be very tough after coming from not so known IB firm. Not impossible though.
I'd really like to know what investment bank is top 25 in the nation by deal volume, only works 9-7 with no weekends, and is within 80% of street pay. Hell, I'd take that offer over Goldman then just never leave the place.
Yeah there's no way that's right especially if he's in the US
It cannot be USA. I am from Asia and not sure if that is possible here too. Perhaps u are from some small country where deal volume is less.
But if it is true, I think he might be earning higher per hour compared to other IBs. I would really like to work there where job is 9-7, lol.
Yeah, I guess. Not much aware of working hours at other places though. As far as I know, working hours are not that bad overall here.
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